The Ramsey Show - App - Should We Buy a Bigger Home if We Use It as a Rental? (Hour 3)

Episode Date: July 6, 2023

Ken Coleman & Dr. John Delony answer your questions and discuss:  "Should we buy a bigger home if we use it as a rental?" "How can we afford to go back to school?" from the blog: How to Pay for College Without Student Loans, "Should I go to law school?" Advice for dating while paying off debt, "How do I convince my parents to take FPU?" "I'm working for my father-in-law and my pay has been inconsistent..." Have a question for the show? Call 888-825-5225 Weekdays from 2-5pm ET Here's an EveryDollar deal just for our listeners: get a 14-day free trial PLUS $15 off your first year of premium. Click the link below and start budgeting today! www.everydollar.com/TRS Want a plan for your money? Find out where to start: https://bit.ly/3cEP4n6 Listen to all The Ramsey Network podcasts: https://bit.ly/3GxiXm6 Interested in advertising on The Ramsey Show? https://ter.li/s64ye3 Ramsey Solutions Privacy Policy

Девочка-пай Live from the headquarters of Ramsey Solutions, broadcasting from the Pods Moving and Storage Studio, this is The Ramsey Show, where we help you win in your life, specifically your money, your relationships, and your work. 888-825-5225 is the phone number. It's toll-free. We help you win in your life, specifically your money, your relationships, and your work. 888-825-5225 is the phone number. It's toll free. It's your call, your life.

We're here to help. I'm Ken Coleman. Dr. John Deloney joins me this hour. 888-825-5225. Let's go to Phoenix, Arizona to start this hour. David is there. David, how can we help? Hey, my wife and I are starting to consider more seriously buying a home. I was just wondering, we were looking at getting a house with additional dwelling unit to use as like an Airbnb. I was wondering, would it make sense to maybe spend a little bit more on a house if it can provide some income. No. I especially wouldn't plan on it. I wouldn't factor that into my purchase price.

Yeah. I'm having some fun with the quick no, but John and I were just talking about this. In fact, we shared this on the show last week. I forget, James, I may have been George on Friday of last week, but we showed some data out there where the VRBO, the Airbnb, that industry is contracting pretty seriously right now on what people are able to charge because there's more supply than there is demand. And so this is too speculative for you to say, all right, I'm going to take on more debt in return for the opportunity to get a little extra on the rent that helps pay things off. I just think it's too speculative. I think if it's me, John, I don't know what you think about this from a marriage standpoint, but I don't want to move into a new house and then have

tenants. Yeah. If you do, fine. I just sure wouldn't take a mortgage out on it with the assumption that the only way we make this mortgage is by people renting out parts of our house. It also, like Ken says, let's say in this phase of your life, y'all want to do that. And then a family of three moves down beneath you in your basement and you're all excited. And then your wife comes home and says, I'm pregnant with twins and your whole life changes and you don't want these people in your basement and you can't afford for them not to be in your basement. The whole thing is a domino that just, you can't see what happens two years and three years and five

years down the road. So I wouldn't do it. I wouldn't do it. I wouldn't build that in. Okay. Makes sense. Yeah. It's a, I think we've used it to vacation in the past and thought it seemed like a decent idea. And I was thinking it from the standpoint of it would allow us to have more space as a family. So we don't have any kids right now. If we lived upstairs and then rented out the basement for a few years and then decided to have kids, we can then get rid of that additional income and have the more space. Sure. I'd rather see you rent for a little bit longer.

I agree. And then buy the house y'all want to buy. I like that. Or, hey, if you want to come up with some extra income to go do these trips that you want to do, find a way to do that. On paper, it makes total sense, as John said. bottom line is is you're assuming some risk that is unnecessary this is like just going i think i want some more risk in my life and and i just don't think it's necessary to accomplish what you want to accomplish it doesn't make sense to me it's too much risk the other risk. The other thing about you, David, and your wife, y'all are probably pretty good

renters. Y'all probably took care of the property. Y'all really gracious of your host family. Y'all were honorable tenants and you paid your bills. And y'all are not everybody. Y'all are not everybody. The landscape is littered with folks who have accepted people into their homes and they live very differently than the rest of us. So be it. Yeah, a lot of opportunities for this thing to turn sour when it makes sense on paper, but then the emotion and everything.

If you want to get your own, like I got a buddy who he's got a second property paid for and he Airbnbs it out as his, knock your lights out. i wouldn't do it in my house yeah i agree juliana is up next in houston texas how can we help hi thanks for taking my call um i was calling my husband and i have been married for five years now and um life is about to change quite a bit from what we've been used to. He is going to be leaving his full-time job to go back to school and he'll just be working part-time.

And we've crunched the numbers and done all the things and, you know, we'll be okay. But there's a couple of things that are causing a little bit of worry in my mind. And I would just kind of like some advice on what you might suggest to do. What's he going back to school for? Engineering. Okay. And he has a degree currently. like some advice on what you might suggest to do. What's he going back to school for? One of them is engineering.

Okay. And he has a degree currently, but changing of careers and going to go back to school. Wait, wait, wait, wait. What's he going from to? He has a degree in what? What's his degree in? In biblical studies. So it's a long story. He's in the ministry right now full-time, but just doesn't

really see it as a full-time vocation. So just going to step back from that and pursue something more in the secular world. Sure. So what are you struggling with? Okay. So we have, was able to save up quite a bit over the last five years years and we just paid off his truck in the last month so that brought our savings down to around 12,000 now we have a 420 a month car payment that is our only debt which is my car we bought it last year so we still owe about 25,000 on it. And my thought is, should we trade it in and pretty much break even and pay something cash so that we erase all debt going into the season of no longer two incomes? Yes. Yes. What you have to look at when y'all decide to do this, y'all have to look at the entire impact on the, the impact on the entire household. It can't just be a dollars and cents situation with, okay, his job, we'll be able to make it

on my salary for this many years. And then we're going to be able to not, we won't do any retirement. We're just going to get through here. We're going to cashflow this. That's part of it, but there's an impact to the entire system of the house that you'll have to take into consideration. I am a little concerned about potentially being upside down in the car. Because when I put the numbers in, Kelly Blue Book and all of the things, it does say that it's right at the $25,000 mark. And so if I walk in somewhere, I'm nervous that I wouldn't get the amount that's owed on it and have to pay out of pocket to pay off the loan and then buy something cash. And then our savings just plummets down to nothing, basically.

And so that's what's had me nervous is, you know, I like the idea of having it erased and being done with it. It's not the car. I'm not attached to it in any way. But just the, would it be putting us in a position where if something does go wrong in some other area of our life, we don't have the money then? You're already in that position. Because you have a $450 a month car payment. Now, I did hear your language. You said if we walked in somewhere, so if you're talking about taking it to a dealer, you're not going to get Kelley Blue Book value for that. Are you aware of that? They're going to offer you way less because they've got to make money on it.

Put it on Facebook Marketplace. So that's where you get the Blue Book value is selling a private seller. That's the only way you've got a shot at getting the $25,000. The dealer's not going to work. But let's say you sell it for $21,000 on the open market. You're still in a better off position if you go get what we call a credit bureau and you get a small loan for that. Yeah, pay a couple thousand dollars to pay off your car note.

And now we've lowered our payments. We're still getting out of debt. So you guys have a couple of options. I want you to hang on the line. We're going to get you a session with one of our financial coaches because you've got some complexities here, and I want you to have a session with one of our coaches. They'll walk you through every step that you need.

So hang on the line and thank you for the call. This is the Ramsey show. Welcome back to the Ramsey show. I'm Ken Coleman. Dr. John Delaney joins me as well. It's 888-825-5225. That is the number to jump in. 888-825-5225. That is the number to jump in, 888-825-5225, talking about your life,

your money, your relationships, and your work. John joins us next in Indianapolis, Indiana. John, how can we help? Hi there. I wanted to thank you guys so much first for taking my call. You bet. How can we help um so i have been agonizing over this question for about a year now and it's uh time to make a decision i have been a traveling nurse um obviously i'm making good money doing that and uh however uh a few years ago i i think two years ago i scored really well on the lsat and i got a a 70 scholarship to go to law school and you know everybody i talked to they think oh wow but you know that's great you know you're a nurse you know you're a nurse and then you go to law school and you you know, you're definitely going to find a job. And, um, but you know, I'm making a lot of money

as a traveling nurse. Now, you know, it's, it's not the same as I were to stay and, you know, Indianapolis, for example, uh, would not get paid as much. And, you know, at some point I want to plant my roots somewhere. And I think I'm concerned because, you know, on the one hand, I'm familiar with working in the hospital. That's what I know how to do. And I've been doing it for 10 years now. What inspired you to go take the LSAT? You don't just rip that one out on a whim.

I love a challenge, and I just wanted to keep advancing. I thought about going to medical school, but the time commitment on medical school would be... John, I'm going to take a stab because you never got to the question that you've been agonizing about for a year. I'm going to take a shot here. I think you love a challenge, and I think you thought it'd be interesting to see how you did.

You did way better than you thought, or maybe you did as good as you thought. You got a scholarship. You told people about it, and now everybody's so excited you've got some sense of i kind of got to walk through this or people are going to criticize me and tell me that i'm crazy i don't think you want to be a lawyer at all and i don't mind if i'm wrong but that's my read yeah that's what other and i want the reason i'm calling you guys is because, you know, I know that you don't know me, and, you know,

you're going to give me an unbiased answer, and that's also what some of my family John, was I right or wrong? John, you answer. You tell me. We don't get a vote. We're two knucklehead YouTube podcasters. Only reason I stepped out on the ledge is you're having such a hard time owning this thing that I think your heart's telling you.

So was I right or am I wrong? I don't know because I don't know what being the job, I think that's the main problem is I don't know what the job is like. I don't know if I would like it. All right, I'll tell you. I was a dean of students at a law school for years, okay? Say that again, sorry? I was a dean of students at a law school for years okay so i'll tell you exactly what it's like it will be incredibly challenging you will write more than you have written in your entire life you will read more than you have ever read you'll be surrounded by people who are the the most the brilliant minds, hardest working folks, and they will be single minded on getting the right scores and the right placements in the right places. Highly, highly, highly competitive. And you will get to sit with some hurting people, which you've done your whole

career, and you'll get to help people. You'll also be frustrated by big systems, which you've done your whole career, and you'll get to help people. You'll also be frustrated by big systems, which you've been your whole career. And so let me go ahead and clear any doubt in your mind. You can do this. That's not the question. The question is, do you want to? It will be a commitment. And I will also tell you that my research was on the mental health of attorneys. And when you get partners someday, the research tells me that partners turn back and go, I gave up my 20s and 30s for this. And so you have to ask yourself, not for some future gain somewhere down the road, do I want to spend the next three years of my life reading 16 hours a day and writing and wrestling with hard concepts, learning to work with the least

of these in our communities or help with insurance companies or big business, whatever it is you want to go into, oil and gas, whatever the thing is. And ultimately, am I going to make this through your commitment and go all in? And if you're not, defer your enrollment. It's a buyer's market right now for law schools. There's more seats in law schools across the country than there are applicants, qualified applicants. You'll be fine. With your LSAT score, people will take you from all over the place. And by the way, if you got a 70% at one college,

you may get 100% at another college. I agree with that. John, I don't think you want to do it. John, I don't think you want to do it. You know why I don't think you want to do it. John, I don't think you want to do it. You know why I don't think you want to do it? Because I think this is fascination for you. And I think you know what law school is going to be about. I think you know the time commitment.

But I don't think that you really, really, really want to practice a certain type of law. You might, but I'll tell you how you find out. You need to start hanging out with a lot of different lawyers. Go hang out with lawyers. Like, let's go hang out with an employment law specialist. Let's hang out with a defense attorney. Let's hang out with a prosecuting attorney. Let's hang out with somebody who does real estate law. I mean, there's so many different types of law, just as there are different types of nurses. I got to tell you, I wouldn't pursue this at all until you hung out with enough

people to go, now that, that over there, that's worth all of the stuff that John just gave you a beautiful description of. See, because on the other end of that, you got to actually like what you're doing or you're going to go, huh, I did this for the challenge. I climbed the hill. Now I need another hill to climb and you're calling us back three years, four years, five years down the line. That's my concern. And I'm not trying to talk you out of this. I'm trying to get you to fight for this because a guy who really wants to be a lawyer has thought about this a lot. If I can talk you out of law school, you probably shouldn't go. That's exactly right.

And I also want to tell you this, the world needs great attorneys and I want brilliant people to be there if somebody hurts me or my family to walk alongside me and my family. I need that, and you could be that person. And I heard you offhandedly say you did get into another law school and you got 100% full ride. Yeah. You don't want to go to law school. No, you don't. Otherwise, you'd be all over it.

I think you said you wanted an objective opinion, and I think John and I are giving that to you. We don't hear enough of a heart behind this to put the effort and the time into this, and it's okay. See, that's what I'm hearing, and I could be wrong, but I hear a guy who feels the pressure of what people are going to say when you go, yeah, I did this, and I'm walking from this because I actually like taking care of people in the medical field. I don't want to travel as a nurse for much longer because I want to change my lifestyle and put down

some roots. But I think I like taking care of people in a medical context more than I do in a legal. That's what I think I'm hearing. I could be wrong. Can you go get your nurse practitioner degree? Would that give you peace? Well, you know, I have thought about other paths. I thought about, you know, continuing to be a travel nurse and just take online MBA courses. Hold on.

Let me ask you this. Let me ask you this. Is there a prestige element to this? I would say, I mean, that's just how my, I think my natural. So I'm going to tell you right now, brother, do not go to med school. If the only reason you're going is to be a doctor, do not go to law school. If you just want to tell people you're a lawyer, amen, go because you want to help people have a better life. The prestige game. I'm telling you, I've got two PhDs, brother brother i chased it my whole life until i

finally broke down in front of a counselor and she said congratulations you made it now what you will never chase down the prestige you'll never catch it it's a moving target it moves and it moves and it moves and you'll move from one law firm to another law firm to another paycheck to a different suit to a better car and you'll'll never catch it. Do what you want to do. You're so brilliant, and you're so bright, and you have a heart for people. Let that be enough, man. Let that be enough. Here are three questions. John, I want you to answer three questions on your own before we go to bed tonight. Who are the people I most want to help? What problem or desire do they have? What solution to that problem or desire fires me up? Now, hang on the line. We're going to give you my Get Clear Career Assessment that

I think is going to help unpack a lot of that. Appreciate the call, but don't go to law school if you don't want to, and everybody knows it. This is The Ramsey Show. Welcome back to The Ramsey Show. I'm Ken Coleman, joined by Dr. John Deloney, and we are thrilled you're with us. 888-825-5225, 888-825-5225. Our question of the day is brought to you by Neighborly, your hub for home services.

Neighborly has 19 service brands nationwide and a network of local service pros. Molly made Mr. Rooter Plumbing and Mr. Appliance, just to name a few. By the way, I will never be called any of those names. nationwide and a network of local service pros molly made mr rooter plumbing and mr appliance just to name a few by the way i will never be called any of those names you know i'm mr incompetent around my house you know that's why i need neighborly you know uh visit neighborly.com to find available service providers near you all right today's question comes from Tony in Florida. Tony writes, any advice on dating when on baby step two? Tony, you lucked out asking these two Tomcats. Any advice on dating when on baby step two?

I've been on several dates, and it's getting extremely frustrating and expensive to take women out. Oh, boy. Where do we start here? He's been on several dates and getting extremely frustrating and expensive. Well, this is called inflation, my friend. We'll start there. Everything's a little bit more expensive these days. Gas, groceries. I mean, you know, I had to go clothes shopping for my kids as we're already starting to think about next school year. Everything is more expensive right now. So advice on dating on Baby Step 2, maybe you shouldn't date. Maybe you

shouldn't date. We mentioned this, Dave has said this how many times over the last few decades? When you're in Baby Step 2, you're gazelle intense. You don't see the inside of a restaurant unless you're working in one. And so maybe, Tony, this is the time to realize my dating life gets back online when I have no debt. When my financial life gets online. Yeah. Or you're in Florida. You can go on hikes.

You can go kayaking. You can go for walks. You're going to have to figure out free dates. And here's what's cool about that. You'll find out if she really likes you or not. If she just wants to go out with you because of the restaurant you're taking her, probably doesn't have a lot of legs to it, the relationship, and so may want to pass.

So, brother, you have a great window into the heart and mind of the people you're dating because, again, if they only like you how much you spend on them, yeah, I wouldn't do that. Yeah, I think that's actually a great technique. You just tell these people you're trying to get debt-free. Tell these women. And so I would love to go on a sunset beach walk with you, and we'll have some carrots and celery and a little bit of hummus,

and let's see if this girl wants to go out with you because if she'll go out for carrots and celery and hummus on the beach, well, there's something there. And if you're listening to me and Ken babble on here and you're wondering, how did these guys get married? We ask ourselves that same question. I actually know the answer. While Sheila and Stacey are both phenomenal women,

anybody who knows them would say so, they also lack judgment. Exactly. And man, my wife fell for the old hummus and celery and carrots trick. Oh, I like that. I didn't do that. Hook, line, and sinker, baby. Yeah, there you go. I didn't have a chance.

I was so broke that the carrots, I couldn't afford it. I picked Stacey up our first date, and it was freezing cold. It was a December evening, and I didn't want her to be cold because I had such a cheap, crappy car. But I realized in that moment, wait a second, I can go knock on the door, and I can take the key out of the ignition, and it'll still run. That's how crappy the car was. And so I just took the keys with me.

No one could steal it. We took lots of walks because that's what I could afford. There you go. Lots of walks around the lake. And it worked out. We're on 25 years. You're on what year? 21. 21. But the key here, the lesson is, gentlemen, find a woman with poor judgment. That's the takeaway. That's how John and I got married. So there you go. Let's go to Jonathan now in Fort Wayne, Indiana.

Jonathan, how can we help? Gentlemen, congratulations. 21-25. I'm coming up on 14. All right. All right. Way to go. Did you outmarry yourself as well?

Absolutely. Good for you. All right. What's going on? Well, looking for some wisdom today. You have come to the right place, my friend. I was going to say, we'll put you on hold and let you set you up for another day. Yeah, Chris Wright and James are in the booth.

You're probably going to want to talk to them if you want wisdom. What's up? So I'm looking for some tips and tricks to talk for me and my siblings to sit down with my mom and my father on asking if they'd be willing to take FPU. Oh. Tell me more. So in the last month, my dad got laid off from his job. And so they're kind of struggling a bit financially. Throughout their marriage, we've noticed my dad just

handles all the finances. Uh, he is a finance major, so he believes he's got everything under control. Um, and my mom doesn't have much insight into that. Um, and so she has had a couple of times where she stopped by my sister's home, uh, broken down, crying. She's really concerned, worried, you know, security gland is spasming. And, uh, so she's, uh, we want to help out as much as possible and would like just the way to approach the conversation, uh, in the, in the most humble way that we can to encourage them, uh, to go through the course.

Sure, man. I love the heart of your siblings. What I would tell you is, it's been my experience that parents don't like getting advice from their kids, especially on money and sex. And those are two situations two two things that parents don't like to talk to their kids about and they especially don't like to get um judgment or wisdom from them and so if y'all sit down and have this conversation i think it would have to be from a place of this has transformed our lives and given me and our wife, our homes, our new homes, so much peace. And we know dad got laid off. We know you're struggling. We just want to know we support you. We pitched our money in together. We got you this gift and it would really honor us if y'all went through it together. But it's going to have to be a very open-handed

invitation because you haven't been invited into this conversation. Your dad hasn't reached out and said, hey, man, I need some help with this. It's y'all looking and there's going to be some pride there. There's going to be some frustration. There's going to be some heartache there. There's going to be some, I'm a finance major. Who do you think you are there? And that's just, you know, that's just dad talking. But I would do it very open-handed and say, hey, we all pitched in, and this is our way of just telling you that we're thinking about you. This has made a dramatic improvement in our lives, and we wanted to gift this to you.

Yeah. And my mom's opened up about it with the finances that she's concerned. Should we just – No, it's her marriage, though. And maybe encourage her to do it with my dad? we just it's her marriage though and maybe encourage her it's her marriage my dad it right it's her marriage yeah but what he's asking here is since the mom has opened up about it instead of he and the other siblings bringing it up she becomes the they give her the support say hey here's this course fpu we'll put you guys and let her be the advocate too i think y'all know your dad better than anybody do you think she's the best one to bring it up jonathan oh yeah well i i think because i've heard dave talk about before like

it as a wife and he talks about when sharon was terrified right if if she approached my dad and was like hey i'm really concerned on where we're at. I'm scared to support our marriage and where we're going. Can we please take this class together? Something along those lines. And be able to coach my mom to approach it that way. Yes, and there's a reason why after all these years your parents have been married, she has not felt the strength or courage to do that. And there's going to be things that have happened behind closed doors that you will never know. And so you can ask your mom or you can tell your mom, hey mom, there's some helpful conversations that we had in our house that my wife had for me. If you're ever interested in that, I'd be happy

to share it with you. But the idea, you had that you've replayed this conversation in your head over and over and over again, but it's your mom's conversation to have. And it's her marriage. I love the idea of the kids coming together and saying, Hey, we love you so much. Hang on the line. I'm going to send you a gift card with FPU on it and a year of every dollar app. So y'all can give it to them as a family. And if your mom wants to do that, that's, that's, y'all know your dad better than any of us, but I would not go in there guns blazing. I would go in there with an open hands and an humble spirit and say, we love y'all. And we, this has blessed us and we think it can bless you. Thanks for the call, Jonathan. This is The Ramsey Show.

Welcome back to The Ramsey Show. I'm Ken Coleman, joined by Dr. John Deloney. The phone number to jump in is 888-825-5225. Our scripture of the day comes from 1 Corinthians 9, 24. Do you not know that in a race all the runners run, but only one gets the prize? Run in such a way as to get the prize. Our quote of the day comes from Dean Karnazes. I hope I'm saying that right. Yeah, man, the distance runner. Did I say that right? Guys in the booth, I said that right? Okay. Hey, I jumped out on the end of the Hooked on Phonics diving board and got that one right thankfully cannonball he's

an american ultra marathon runner and the quote is we have killed our souls with comfort instead of seeking fulfillment and achievement wow excellent i agree with that wow really good stuff jesse's up next in los angeles cal California. Jesse, how can we help? Cool. Hey, Jesse. Cool. How are we doing, Jesse? Hey.

Good. How are you doing, Mr. Ken, Mr. John? Thank you so much for the opportunity to talk to you guys. You bet. What's up? Well, real quick, try to give you some context. My life is a bit complex as much as I'm sure as everyone else, but basically the specific that I wanted to focus on is, uh, I currently have, I work two jobs right now, but one of

my jobs, I work with a family member. I'd rather not disclose too much about it, but basically work with a family member for the last couple of years now. Um, I honestly entered this world of construction. I work within construction. I'm not knowing a guy, not knowing anything, basically kind of lost. Um, I entered it because I, my, my, I guess my place of work has been more creative realm as far as making videos

and all that kind of stuff. Um, but I found myself in COVID times when there was no work, obviously at that time. So an opportunity came up to work and, you know, we needed the money at that time. So I took the opportunity to work with this family member and basically just jumped in, not knowing a single thing. And it was in construction, like I said, and kind of been in there for the last couple of years, last three years now. And to be quite honest with you, I don't know how to move around the situation in

itself. Sometimes if you're a little lost, that's personally what I really want to be doing. And I know you have written a couple of books about that, but kind of going around the situation is, you know, right now, because construction can be so volatile as far as, you know, things going up and down and prices here and there. Also, management-wise, how things are managed affect that a lot of companies. So let's dive in real quick, Jesse. What is the situation? You've referred to it, but what does that mean? So in detail, it basically means that I guess I will disclose it in a way that I, my father-in-law, I worked with,

he has a small company, construction company, and it has been going okay. He's been trying to manage it the best as he can. And so getting these projects and getting all this work kind of situated, payments have been really slow. And so... Does that mean payment to the company or payment to you? Both.

Okay. So whatever happens with the outside, we don't get paid by clients. Money is not flowing through. Jesse, is it safe to say that you're pretty frustrated, but you feel like you might be trapped because this is your father-in-law? That's probably, yes. That's most likely how you could describe it. Okay. So the way you set that up earlier, and I want John to jump in on this because this has got

some really, really unique family and relationship dynamics, but you said, I need to figure out how to navigate or move around. I don't know that this is a move around situation. I think this is probably going to end up being a move on situation. And John's going to give you some pretty good advice here on how to do that. And the reason I'm saying that, and I'm asking this, and then I want John to jump in but but if if I guaranteed you today a clean break meaning no stress no whatever just clean break no consequences you walk father-in-law's great wife's great whatever would you walk today uh yeah honestly yeah the only hesitation I'd have is I don't know where to go to next well we'll worry about that that's secondary and I'll help you with that I'd have is I don't know where to go to next. Well, we'll worry about that.

That's secondary, and I'll help you with that. But I want John just knowing that. I don't have anything to add. You've said it yourself, Jesse. It's time to go. And I think you need to make peace with that. Don't avoid the hard conversation. You're at a job.

You're not getting paid, man. If this was any other boss, you would have already been raising hell. You work hard. You don't get any money. Or the jobs are sporadic. You get a random email or a random phone call or a random text message. Hey, tomorrow I'll be so-and-so at 6 a.m. You can't live like that.

You've got to have steady work to take care of your family and support your family. Deep down, your father-in-law knows that too. So it's time to go. I think it's a matter of figuring out what's next. Is your wife? Sure. She's on board with this too? Yeah, she's been great.

And to get a bit of context, this is where I would like to say it's complicated. It may not be that complicated, but because it's my father-in-law, they decided to put her as the main owner of the company. This was before we got married. And then after we got married, obviously, she was already part of that. She did so to help him out and kind of put him in a better, I don't know, the real reason other than her helping him out. So she's the primary owner of the company?

Yes, sir. Is she the primary owner, but he makes all the decisions? He's the shareholder? Yes, sir. Is she the primary owner, but he makes all the decisions? He's the shareholder? Yes, sir. Does that mean that she's paying taxes on this and he's not? Yeah, it's actually an LLC right now. Does she take any sort of disbursement? Does she get

paid at all on the back end of this deal? Supposed to, but it hasn't been any profit. get paid at all on the back end of this deal? Supposed to, but it hasn't been any, um, how do you call it? It hasn't been, there hasn't been any, any profit. So here's my concern. She, you and her are carrying 100% of the liability with absolutely no payout. The only reason you sign up for something like this, it's not criminal, is you want to, the benefit of the bottom line payout, which is awesome.

That's why CEOs take the risk because they make all the money. If something goes sideways, they have insurance and liability for what happens. You all have all risk. All risk. Right. It sounds very eerily similar to parents who take out credit cards in their kids' names. Honestly, with you guys, I have known that for a while.

And to be kind of frank with you guys, I trust in God, and I've gotten counseled before, and I hear that too. But the thing is, that relational part, I'm like, I don't know what to do. So here's the deal, brother. I'm not trying to be negative or against it either.

No, no, no, no. Father-in-law already burned the relationship. You're still holding on to the end of it. You didn't do this. As the great saying goes, not by your hand, but in your lap. Your father-in-law chose to set himself up in a better position at the expense of his daughter and her family. And then brought you along and says, you're brought you along and says you're one of us now you're one of us i'm not going to pay you except sporadically

i'm not going to give you work except sporadically and he's just keeping you hanging on and hanging on and hanging on if this is my house i would sit down with my wife and I would strongly recommend we get out of the partnership. I don't want to be an owner here. And if it's an ownership thing, I'm going to go sell my business to somebody or I'll sign the deed over and y'all can deal with it. And you, brother, go find another job. Yeah, I agree. I would just tell you right now, go get a job doing what you're currently doing. Let's not worry about what my future path is right now. I'm going to give you a couple of tools that'll help you with that.

But right now, it's like, if I can do this and I'm doing it for my father-in-law who's not paying me, first step is I need to get some stability and deal with that financial piece first so that I go work and I'm just going to go get a job, getting paid, doing something I know how to do. Then we clean this mess up. Maybe we need to get some legal counsel on unraveling this deal, just to maybe get a consultant, like let's get a lawyer on this and let's figure this thing out. But we need to have a hard conversation with the father-in-law as well, as John said. I'd unravel this deal and then let's figure out what your future looks like to that end, hang on the line.

Austin's going to get you a copy of actually an assessment code, the Get Clear assessment. It'll help you with direction. The book, From Paycheck to Purpose, will help you with next steps. But as John said, hard conversation tonight. You and your wife need to decide what it is we're doing and inform the father-in-law. Getting with an attorney would be really wise just to look at the structure of this arrangement and the path out. Don't talk to father-in-law until y'all have your decision made and a path forward, and then you're going to let them know what you're doing. He is Dr. John Deloney. I'm Ken Coleman, and this is The

Ramsey Show. Thank you for listening. Hey, it's Dr. John Deloney. If you like what you heard in this episode and want to know more about getting started on the Ramsey Baby Steps, go to ramsaysolutions.com and click on the Get Started button. We'll help you figure out the best next step for you based on your specific situation.

That's ramsaysolutions.com and click Get Started.