The Ramsey Show - App - Should I Take a Job Offer From a Friend That Could Double My Income? (Hour 2)

Episode Date: July 6, 2021

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Thank you. 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. Thank you for joining me. Dr. John Deloney, Ramsey personality, host of the Dr. John Deloney Show, an extremely popular and exploding podcast. The numbers are absolutely amazing. He is my co-host today.

We're taking your calls about your life and your money. The Dr. John Deloney Show is all about dealing with mental health issues and relationships and boundaries and anxiety and all of these kinds of things. Be sure and check it out. It's an amazing show. It's a fun listen. It comes out on podcast here in the Ramsey Network. If you want to have a discussion with John, you can call in today at 888-825-5225.

He'll be part of your answers all day. And, of course, you can also email him and be part of his show by being a caller on the show. Email askjohn at ramsaysolutions.com or call and leave a voicemail. Producers will get back with you and put you on the show at 844-693-3291. John, what is the, I don't know, the call that stands out in the last several weeks? Oh, man. You've had some pretty ridiculous ones. Tough ones.

You've had some scary ones, some sad ones, some funny ones. The one that stood out the most is the woman who was married to a guy in recovery. And she came home, and he had stepped in the bathroom, and he had started using again, and she didn't know. And then she lost him. And just processing grief and that her guilt of what I should have done and i should have known but i didn't and what all those woulda shoulda couldas that comes when you lose somebody that you love and what are the signs and what does grief look like now and um that was a rich call and she was open and honest and she's articulate too i mean she's a brilliant lady i listen to the call it was uh her ability to articulate all the different angles and feelings and the hope of that whole grieving process of

dealing number one living with an addict that was uh not was hiding it from was hiding it from her was not acting out to her knowledge he had never been using while she was while they were married it was all before and then he had been dry and then he relapsed and dies in one night in od right yeah and uh so yeah that was that was a that was a that call was amazing and yeah her ability to understand to articulate what was happening and yet you you know what it's like being in the ocean and thinking i'm drowning it doesn't stop you from drowning, right? That water still waves over you, and you're still bobbing up and down in the ocean. And so you've got to ride it out, and it's hard, and it's messy.

But those are beautiful calls, and you walk alongside folks during hard moments, man. That's what the show's about. And what's interesting is that we all learn something about ourselves, even though we've not been in that exact situation. We think, there's a little piece of that that I wonder about inside my soul. There's a little piece of that over there. And when she said that thing, and so we all plug into that. It's not just watching her go through it.

It's always when it's all of your callers are that way. There's almost always something where I go, oh, yeah, I get that. When I used to do crisis work with the police department and I'd show up to a scene that was just a mess and tough i i began a ritual when i got home which was to stop in my kids room and it was usually two three in the morning they have no idea i'd ever did this um but it was one of those moments that i'm not going to take one moment for granted so i'd stop and open their door and just pray over my kids and just watch them breathe and sleep and And one, that helped me remember, like, I'm home now and I'm safe here.

I just saw some stuff that was tough. But more importantly, I'm not going to take a minute for granted. So even if you aren't married to an addict or you're not dealing with divorce, you're not dealing with trauma, everybody's got stuff. And, yeah, you're exactly right. You take little bits and nuggets of it, and it just helps you breathe a little bit deeper. All right, starting this hour off with Carrie in Columbia, South Carolina. Hi, Carrie, you're exactly right. You take little bits and nuggets of it, and it just helps you breathe a little bit deeper. All right. Starting this hour off with Carrie in Columbia, South Carolina.

Hi, Carrie. What's up? Hi. Nice to talk to you all. You too. How can we help? Really quick before I tell you. I was listening to y'all's podcast yesterday, and I started cracking up when y'all you know, not sharing your income with your kids totally when they're young.

Because in South Carolina, all state employees' incomes over $50,000 are public domain online. And so I was like, well, I hope my kids never learn that. They will, Carrie. They will now. You just told them. Yeah, that was helpful. Well, at least, I'll say, we just moved back from overseas. So my oldest is language delayed and ESL stupid.

So, at least hopefully it'll slow down her Googling. There we go. Just don't teach her how to spell Google. You'll be all right. How can we help? I have a question about retirement, and if you have time at the end, I'd love to squeeze in a car question, too, but it just depends. So, both my husband and I, I'm with the state of South Carolina. He's with the city of Columbia. Supposedly we're supposed to have the same retirement options,

but he's getting the runaround from his HR and they've apparently never had to transfer someone out of the city system into the state system. We both have mandatory 9% contribution, but normally you have the 401k option or the pension option with the state, but the city is telling them they're not sure how to transfer him into the state program. So I'm trying to figure out, I know you say, you know,

if you have a pension that it's still, you know, you still want to contribute the 15% into your own retirement that you control. Well, that you put in. If I do this, if he gets a pension, it would be like a quarter of his income. Yeah, no, no, no, no, no. That you put in. How much do you have a mandatory nine, right?

We both have a mandatory nine. Okay, then you need six more and then a little more because you don't control the nine, but not an entire nine. What would you recommend? I don't, because obviously it makes no sense to go all the way up to nine plus 15 on his. No, I wouldn't. I wouldn't do 15 on top of the nine on either one. So would you do more than six though on his?

Not on either one, I wouldn't. But what I would say is that nine, you don't have as much control over it, and so I'm going to discount it some, but you decide how much. I mean, you can discount it three, you can discount it four, and then that makes you're going to count five of it, and that means you need to put ten more in somewhere. Something like that. It's just because that's the weak part of your plan.

It's weaker. You're going to make less on that nine than you are on the other six if you just put six on top of it to get to 15. And so I'm going to beef it up a little bit. So instead of six, you could say I'm going to put in 10, and you'd be in really, really good shape. That's probably what I would do, something like that. But that means at that point that you're actually putting in 19% instead of 15%.

Whoop-dee-dup-dee. You're still going to get there. You're going to be fine. You have plenty of room in your budget. Once you're at baby step four to do that, you're not really going to run into a problem. But it just has to do with the portion that you put in and you do not have control over is a weaker result than the other portion that you have control over. And so I'm not going to count it completely, but I'm going to count it somewhat towards your 15% baby step forward.

And when the HR department won't help you out. Get up in their grill. There you go. Yeah, you got to be really assertive and just go, this is not okay. You need to get this answered. You need to fix this. It's not okay. I'm not going to be a jerk, but I'm also not going to go away.

I'm going to be your problem, so fix your problem. That's how bureaucrats act, right? There we go. This is The Ramsey Show. You've got a lot on your plate, a job, your home, your marriage, and your growing family. While you're enjoying the present, you can't help but think about your future and your finances. As you explore your options, consider Christian Healthcare Ministries or CHM for your healthcare.

Their generous maternity program and budget-friendly monthly programs have been a blessing to members welcoming children into their families. Visit chministries.org slash budget to see if it's right for you. That's chministries.org slash budget to see if it's right for you that's ch ministries.org slash budget i don't know if you guys have heard the rumor but the cost of college

uh might have gone up like a lot in the last 20 years. Yeah. If you're going to send a kid to college, you have to have a plan. Or you're sending a kid to college to get deep in student loan debt. One of the two. Neither one are a very good plan. So you need a plan. Plan, plan, where you're saving money with a plan. Something like an ESA, an educational savings account, a 529.

These are accounts that let you invest after-tax dollars and they grow tax-free like a roth for college kind of thing yeah very nice differences between the esa and the 529 are important they have to do with the age the income and restrictions investment options what's the right thing for you well you need to sit down with a good financial advisor to help you with your kids college planning duh just like you would for your retirement plan. And so we recommend guys and gals around America that we have very carefully vetted who are world-class in this space. They're called SmartVestor Pros. And if you click SmartVestor at Ramsey Solutions, you'll be able to connect with the one in

your area. It'll drop down a list of them, and you pick which one you want. That's pretty cool. And you can text INVEST to 33789. SmartVestor Pros are trustworthy. Ramsey trusted investing guides. That's INVEST. Text INVEST to 33789.

Jeremiah is in Atlanta. Hi, jeremiah welcome to the ramsey show hey dave thanks for taking my call sure what's up um got a question right now um so been listening to you i guess for about a year now started the baby steps and i'm probably i think right now I'm about six grand away from only having my mortgage left to pay. But besides that, next year I'm set to be at about 55 for my salary. A friend of mine who has done very well for himself and owns his own business has offered me a job that could potentially double my income. If it was a family member, I'm pretty sure I would have no issue saying, you know, I appreciate it. No, thanks, because I don't want, you know, I really don't want to work with family.

So that would, you know, kind of have any sort of animosity if anything went south. But with it being, you know, not a family, it's somebody I've known for about 15 or 20 years. Is it a smart choice or do I leave it where I'm at? What does potentially make double the income mean? So, well, in passing, we were talking and he, you know, he said, said, hey, you know, quit what you're doing now. Just come work for me. He said, I got a six-figure job for you. And that's how serious the conversation has been. That's about it.

So, let's get something straight. Let's get something straight. This does not work if he's giving you a job paying you six figures and you don't know how to do a six-figure job that's called your friend giving you money for free and that's not going to work right okay so what i've got to understand if i'm you step one is to figure out, I'm going to be doing something that is worth six figures to his company and that he would pay someone else six figures to do the same job, and I'm able to do that job. Okay? So if he's asking you to do something you can't do, then you're going to disappoint.

This is going to blow up if he's uh if he wouldn't pay someone else six figures to do the job then this is going to blow up because it's charity it's not a job or if you hate it if he's bringing you on to be a salesman and you hate sales eventually you're going to have to disappoint him right yeah right you know so i'm not good at it i hate it or he's not going to pay someone else that so i got to understand what those details are right now it sounds like a very very off the cuff comment not a job offer is that fair yes sir okay so let's let's go back you know to him and say okay were you serious what would i be doing and why would i be worth that okay now let's take it a step further then and give you some guidelines of how this works. When mentally healthy people, emotionally healthy people, spiritually healthy people work together.

They can be family. They can be friends. Some of my best friends on the planet work on my team here. And they were friends before some of them. Some of them became friends while they were working here. I've just got unbelievable respect for them. I love them. They're just good people.

They're great at their jobs. Everything's good, okay? Now, how can you do that? How can you work with family, which you said you wouldn't do, or something near to family, which is a 15-year-old friend? The way you do that is this thing called just mutual respect and clear roles. When you work for him, he's the CEO and you're the whatever it is your title is. You're not friends in the sense of he doesn't owe you something because of your friendship he owes you fairness and dignity clarity uh guidance support that's

what a leader owes anyone that works on their team if they're a quality leader and you owe him that you're game on you're not mailing it in you're not backstabbing him you're not half button it as an employee uh because you know, anywhere else you work, you get fired for doing that. And if your friend fires you for doing that, then he did that because he was your friend, not because he's a mean old boss, because you're a half-butt employee. So if you go and you do your part at work and he does his part at work, and when you're at work, he wears the hat of boss, and you wear the hat of team member. Then when you take those hats off and later on you're hanging out and you've got two hats on that say friends,

then you can treat each other differently there. But you don't get a pass at Ramsey because your last name's Ramsey. As a matter of fact, you've kind of got to bring it more. And you don't get a pass at Ramsey because I last name's Ramsey. As a matter of fact, you kind of got to bring it more. And you don't get a pass at Ramsey because I've known you 40 years, because I've got friends that I've had 40 years I've known them, and they're on this team and have been on this team 15 or 20 years of the 40 years I've known them. But they still don't get a pass.

And, by the way, I don't get a pass either. I don't get to be a jerk to them just because we've been friends for years, so they have to take extra crap off of me as the boss. Does that make sense? Yes, sir. So treat people the right way as the leader, as the employee, and then you don't have to worry about whether you're friends or not, and you can still be friends. A good friend would sit down and tell you if you were

half-biting it right so how real is this fly-by job offer oh it's i mean it's it's pretty pretty real i'm pretty sure i could head over there to the house and talk to him about it today yeah i would do that i think you need some relational clarity and you need some clarity for your soul because you're on a on a on a financial trajectory you're working hard and the lure of another 50 grand feels really good get some clarity on that man great yeah get some clarity on that well it could be that you're underpaid where you are and you built your value up in the market and that you know you could land this type of a position somewhere else as well. That's possible.

And it could be that he's going to say, yeah, all you got to do is move 48 cars a month and you can make $100,000 and you could say, yeah, I'm out. Yeah. I don't think I can do that or I want to do that. Yeah. So number one, find out and firm up that you're going to bring value that's equal that. Number two, you're going to like the type of position. And then the last part is that whole last diatribe I just did was you can work with friends.

You can be friends. You know, one guy said you could never be friends with people that you lead. Of course you should be friends with people you lead. That's stupid. If you're a good leader you should you should love people enough when you're leading them to be friends with them but that does not mean that i can't hold you accountable it doesn't even mean i can't fire you it means i will fire you i fired some of my best friends for different reasons i had some of my best friends quit you know and we remain

friends in most cases depending on what is going on there but uh but it's not that that you know and we remain friends in most cases depending on what is going on there but uh but it's not that that you know friends can't work together that's not true i think mentally healthy and balanced friends can i think that is more of a of an indictment of what friendship has come to mean which means i'm just gonna entitlement i'm just gonna make you feel good and say you go you go dave and i'll be you man'm never going to tell you something hard. I'm never going to hold you accountable. I'm never going to walk on text. Demand excellence out of you.

Yeah, friendship does all those things, even if you're not on my team. Real friendship does, that's right. I'll guarantee you, man, I've got men in my life that hold me to that, and I hold them to that. Heck yeah. And they're not on my payroll. Yeah. Yeah, but that's real friendship. That's exactly right.

Tough love. No, honey, it's love. It's just love, man. Yeah. This is The Ramsey Show. welcome back to the ramsey show dr john del Ramsey Personality, is my co-host today. Thank you for joining us. And Selmo and Catalina are with us. And they are in Colorado Springs.

And it says on my screen, you guys are debt-free. Congratulations. Thank you. Very well done. Very cool. How much have you paid off we paid off 68 000 dollars in 12 months wow and your range of income during that time uh we started out about 200 000 and ended up with 220 000 cool what do you guys do for a living? We work in human resources for the Department of the Army.

Both of you? Yes. All right. Well, thanks for your service. Very cool. Well done. Man, working in the Department of Human Resources for the Army, I bet you two have some great dinnertime conversations, huh?

You all have some stories, huh? Man. Dr. D. We try to keep it out of the dinner table but man stories you can't tell anyone else but somebody's got to hear them i'm telling you this one yeah oh man yes yes that's fine dave and dr d i just want to say it is it's an honor and and uh thank you for having us on truly appreciate it well we're honored to have you. We're so proud of you. Way to go. What kind of debt was the $68,000? We had a little mixture of a couple of things.

We had one credit card. We had two TSP loans and IRS debt and also two that fall under the heading of stupid tax. I owed the Department of VA and also I had a a debt to uh the ex-wife oh wow okay very cool so how long you two been married we've been married for three years all right so what happened that got you guys so fired up about a year ago where you go boom 68 in one year. Mic drop. So, you know, we started out three years ago. Two of those years we were doing Dave-ish. And so, you know, we actually started out with about $98,000 in debt. And then we just Dave-ish and we just paid $30,000 in two years.

And then last year, you know, just looking at the kids and just looking at, you know, everything around me, you know, we decided to say, hey, you know, we need to do better for our kids, for our family. And we just started dreaming and picturing what our future looks like, our retirement looks like, and what we want to do for our kids. Wow. So just looking at them, you said, okay, game on. We're going to go Ramsey, Poole. We're not doing any more ish.

Yes, we have to do better. We had to do better, not just for us, but for them as well. Yeah. So what did that conversation sound like between the two of you when you said, okay, I want to turn up this heat now to boiling? So the conversation started, you know, just sitting on the couch and we're looking at the kids just playing around. And it's like, you know, and it's now time for us to go ahead and pick up the torch and, again, do better for them to give them the best chance of success. Wow.

And nothing hurts worse than writing a check to an ex-wife every month either, right? Oh, oh, oh. That hurt mywife every month either right oh oh oh man that that hurt my feeling so uh you know that that's okay so where was you said your family came from where well um i was born in uh dominican republic and uh we came to the states back in the 90s. Okay. All right. Wow. Very cool. Well, congratulations, you guys.

What do you tell people the key to getting out of debt is? You guys are amazing. Sticking with the budget, making sure that you have a partner who is stronger and more stubborn than you are. Oh, I think that was a compliment. Yeah, that was a fantastic backhanded wife compliment. Yeah, he's strong.

It was definitely a compliment because I couldn't do it by myself, that's for sure. Yeah. Wow. And, you know, she balanced me because, you know, I was the type, you know, how you call it, Dave, the type what. And, you know, I'm of the mindset that we could get all the the the grocery for the month in about 200 bucks so she loosened you up a little bit to back to back to logic huh but but still but still we get her done at 68,012 months it's very very impressive you guys what was the hardest part of this for you guys?

You know, the hardest part, I mean, you know, we did our budget, and then we got on the same page, and that helped out a lot. And it was just that, you know, we were willing to do things. We were willing to work overtime. We were offering. We're willing to do anything and everything possible. But the biggest change and something that I've learned from you is not what you're willing to do. It's what you're willing to give up. And so we ended up giving, you know, eating out, family vacations, the shopping. And so we started doing those things. so the kids also made sacrifices too we

sat down and had conversation with them you know what our goal was for getting out of debt and you know things that we can do in the future if we are out of debt and they would all got on board and they were you know i wouldn't say happy but they were willing to give up you know big birthday parties for just you knowat-home celebrations. Yeah. Well, yeah, they're old enough. I mean, they're showing pictures of them on YouTube. It's a beautiful family.

But they're old enough that they could understand if you live like no one else later, you can live and give like no one else. They understood we're going to pay a price for a while, and then that's going to open up things for us. It sends a message across the country to all parents of kids that sometimes um your kid doesn't have to have a million dollar birthday party they're still gonna live everybody's gonna still make it right yes that's right good for you guys way to go you guys so proud of you well we got a copy of the legacy journey for you because that's definitely what you've done you've completely changed your legacy and are creating a new beautiful one.

It's powerful. Very well done. And a copy of the Total Money Makeover for you to give away to somebody and help them start their journey and pay it forward. Now, what are your kids' names and ages? So we have Maya, who's 13. Blake is 11. Derek is 10. Jace is 8, and Olivia is 6. All right.

That was impressive, Mama. That was really good, man. Oh, I have a cheat sheet. Well, already I might get nervous and say the wrong date. I can do that. I've been known to do that. Dr. D, you come help me babysit, man, anytime. No chance, brother. You are on your own. You are on your own, my man. that i've been known to do that yeah dr d you come help me babysit man any no chance brother

you are on your own you are on your own my man i got two and i don't even know what day it is be careful what you wish for brother that's right they might never be the same oh fun all right here we go so it's anselmo and catalina 68 000 paid off in 12 months making 200 to 220 count it down let's hear a debt-free scream three two one yeah might have been a little military in that it's good to say they mean they screamed that Yeah! Might have been a little military in that. It's good, too.

They screamed that one from the floor. I love it. They brought it. Bring it. Yeah. That's fun. We can eat $200. Figure it out.

There's 11 of us. It's cool. I love it, man. Oh. Well, there's all kinds of data that shows us that, I mean, he's second generation. He was born in Dominican Republic but came here as a child. But people that come to America because it's the land of opportunity, the land of the free and the brave, and they do so legally, I need to pronounce that carefully, that there's all kinds of data that shows that they have either a four

up to a ten times greater chance of becoming a millionaire than one of us who just kind of feel like, eh, little man can't get ahead. You know, stupid butt stuff like that, right? Instead, they're like, game on! So much opportunity. You will eat nothing this week. You will eat nothing so that you can eat anything later. That's right.

That's all right, man. That's what, there you go. Man. What studs. Awesome, Anselmo Catalina. This is the Ramsey Show. Dr. John Deloney, Ramsey Personality, is my co-host today. Open phones at 888-825-5225. That's 888-825-5225.

Mike is with us in Harrisburg, Pennsylvania. Hey, Mike, what's up? Hi, Dave. Thank you for taking my call. Hi, Dr. John. I recently applied for life insurance, term life insurance, and was denied due to my health issues. I'm on baby step two, and I'm trying to figure out how I can take care of my family in case something were to happen to me. What's the nature of your health issues? Anxiety, depression. And they denied you for that? Yes.

Yes, yeah. Some of the medications I'm on is pretty dangerous. Wow, I'm so sorry, man. Yeah, a bipolar diagnosis or a depression diagnosis is harsh in the life insurance world. Wow. How are you doing? Pretty good. Pretty good.

Yeah. Just trying to make ends meet right now. I'm working two jobs, you know, with gazelle intensity. Good for you, man. Yeah. You're plowing through. That's hard. Yeah. How long you been, uh, fighting this depression monster? Oh, a better about, uh, 20 years now, I'd say ever since college. You got good support around you now? I do. Good.

I do. I have a good church family and a loving wife. Awesome. You have little ones? I do. Two girls. Very cool. Well, it's worth fighting, brother.

It's a hard one, but you're a hero to keep plugging, and that's what you're doing. To go back to the technical answer, it is a little bit like a more – I don't know how to phrase this, but it's more like a health issue, a medical issue. This is both. It's mental health. health issue, a medical issue. This is both. It's mental health. But let's just say cancer, okay? With cancer, used to that they wouldn't write you if you ever had a cancer diagnosis. You could just forget life insurance for almost forever, okay?

Nowadays, it is staged, and you can get life insurance if you have had cancer. If you had it 20 minutes ago, no. Most times, depending on the type of cancer, usually no. But 20 months ago, now we're starting to talk about it. Five years ago, definitely you start to be insurable in today's world. And the same is true as you get measurable proven progress with your therapy and with your pharmacology on the depression. So the more you get the other side of this, the more insurable you are always. Okay. And I think John will agree with me that depression is not a chronic lifetime illness that has to stay with you until death.

Agreed? Yeah, depression can be messy. If you've had it for 15, 20 years, it's hard. Yeah. Yeah. What kind of care are you under now? I just see my medical doctor. He's the one that fills the prescriptions for me

so I haven't actually reached out and sought the help of a licensed psychologist I would recommend doing that as Dave mentioned being intentional about what does life look like 2 years, 5 years, 7 years what does a path of healing look like, not a path of sustaining. Does that make sense?

It does. I would love to see you partner with your doctor and go see a local psychologist, local counselor who would walk alongside you and begin to learn some strategies. Yeah, rather than just simply living in the dull, medicated state. Anyway, then how do we cover your family in the meantime, which is the reason for your call? You're getting all this unsolicited advice, but welcome to the show. So, but anyway, how do we actually get you covered? There's a couple things you can do. What you're looking for are life insurance plans that do not require medical. They don't require any kind of a thing.

They're much more expensive typically. An example would be, do you have a home mortgage? I do. You can call your mortgage company, and they will sell you mortgage life insurance without any medical questions. It just pays off the mortgage in the event you die. That's a big one. But it's about 5X of what normal term is it's more expensive but it's and so i don't recommend it but i do recommend it for someone who's uninsurable and you are right now okay okay number two uh there's a

lot of the other non-medical checked uh life insurances are usually come in small doses like 10 or 20 dollars with your bank through your checking account it's almost like this little gimmick type policies that you get but there are no medical checks on them and it's perfectly legal there's nothing immoral or improper about you taking that um and uh taking that type of insurance knowing that you have this that you're dealing with depression there's nothing wrong with that at all so i would go gather up a handful of those and get the mortgage life and then that gets get your family to where they're at least in quotes air quotes okay

you're probably not going to get fully insured doing all that's going to be too expensive but you can get some stuff on you and they're not going to be left high and dry, so to speak. Then, of course, the last thing we're going to do, in addition to you getting some healing and getting the other side of this, is you're going to build wealth to where you don't even need insurance. And that's what we all do. We all have this goal of having enough wealth that if we were to pass away, then our spouse, our kids is going to be okay with the money that we have without any life insurance. That's being self-insured.

And so that's starting to work your plan. Have you guys been working the baby steps at all? Have you been working the debt snowball or working with your every dollar budget or anything like that? Yes, we're currently on baby step two. Okay. And what are you plugged into of our stuff? I have Ramsey Plus.

Okay. And I have a few of your books, actually. Okay. So you and your wife can go through Financial Peace University. You can get in the Every Dollar Experience together, and you guys can accelerate this get-out-of-debt plan and move towards – because the less debt you have, the more money you have, the less need for insurance there is. Does that make sense?

It does, yes. Thank you. So we're going to move you that direction. In the meantime, a stopgap are some of these insurance plans that you can get without medical, including mortgage life would be the big one of the bunch. Rochelle is with us in Sioux Falls, South Dakota. Hi, Rochelle. How are you?

Good. Thank you for taking my call. Sure. How can we help? I'm calling about an inherited retirement plan. My mom passed away a few months ago, and my two children, ages 8 and 10, are among the beneficiaries of that account. In speaking with the financial institution, they won't even speak with me or let me view anything about this plan without providing a court-issued guardianship.

I spoke with a lawyer about doing that, and they're kind of advising me to maybe not go that route because they said it can be expensive and a lot of paperwork, and there's annual reports that have to be completed. How much money is in this account? They would each receive $18,000. Oh, I wouldn't screw with it. But I would call back the financial institution and climb all up in them

because last time I checked, their mother is their guardian. That's so ridiculous. Yes. What buttholes. I asked about providing a birth certificate. Yeah. Like, they came from me. That makes me their legal guardian, you dupes.

I'm about to jack you up with some lawyers. You want some lawyers in your life? We're about to send some to you as a matter of principle. Matter of fact, there's 18,000 in this account. i think i'm going to spend 36 000 proving my point you know just just have a little fun with them on the phone and and i think you might bully them back because they're bullying you uh is what they're doing because they don't want you to take the money out of their stupid little bank that's what it is okay that's helpful yeah anyway but i i don't know that it'll work but i i would have some fun trying it because it pisses me off hearing it and it's not even me

can you imagine looking at a bereaving mother can you imagine looking at me and saying you're not your kid's guardian oh my gosh how could you have no soul hill Hillbilly activated, okay? Right there. That's it. Game on. That's so ridiculous. Oh, my God. I just lost my mom. Sorry. Prove it that those are your kids. Yeah, sorry. Idiot.

You're not your children's guardian. Idiot. Because we are the bank. I'm not even a hillbilly, and I'm activated. What is that? What is that? Mary Poppins Bank? Remember the old bank in Mary Poppins?

That's what that sounds like. Ugh. Hey, it's Kelly, associate producer for The Ramsey Show. This episode is over, but if you heard about an event, product, or service and didn't have a chance to write it down, don't worry. We list everything you've heard about during this episode in the podcast show notes section or head to theramseyshow.com. Thanks for listening.