The Ramsey Show - App - Should We Pull Money From Retirement? (Hour 3)

Episode Date: July 28, 2022

Dave Ramsey & Dr. John Delony discuss: Whether or not you should pull from retirement to pay off your house, Helping a struggling daughter, How long you should stay in baby step 3b, Selling your possessions when moving overseas. Want a plan for your money? Find out where to start: https://bit.ly/3nInETX Listen to all The Ramsey Network podcasts: https://bit.ly/3GxiXm6

Live from the headquarters of Ramsey Solutions, 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. We help people build wealth, do work that they really love, and create actual amazing relationships. Number one best-selling author and host of the Dr. John Deloney Show, Ramsey Personality. John Deloney is my co-host today. Open phones at 888-825-5225. One of the benefits of this show being where it has been for 30 years in the city of Nashville is occasionally we have

actual big-time stars drop in who also happen to be friends. John Rich of Big and Rich Save a Horse Ride a Cowboy fame is he and Joan are good friends of Sharon and mine drop by and he's got a rather interesting story you've engaged in my cousin hello well done brother well thank you sir well done you are a uh you are a juggernaut without a doubt and have always pulled off some fun stuff you and i've talked many times on the air and many more times off the air about this stuff um including the whole redneck riviera movement and the whole the whole process uh but many years ago you've written and produced the songs and uh multiple multiple number ones over the years many years ago you moved away from the um well the industry the

industry the radio industry the labels the publishers and all that and and the world that we're in today allows you to just get direct access to the consumer and um consequently you wrote a song so mike rowe and you this is the last time we talked i was talking to mike the other day about this yeah um wrote a song santa's got a dirty job that one went to number one for about about a hot minute yeah and back at christmas and uh now you got another number one without a label how do you do this right well the the people are responding uh which is a great thing to see. I was just so struck by the intense irony that all the things happening in our country right now that are so negative are being perpetrated on us under the banner of the word progress. This is a progressive idea.

This is progress. Trust us. It's going to be fine. Let's send gasoline through the roof. You need to be driving an electric car anyway. Trust me. It's good for you. This is progress. Trust us. It's going to be fine. Let's send gasoline through the roof. You need to be driving an electric car anyway. Trust me. It's good for you. Progress, progress. And I thought, man, that's the opposite of what I would call progress, the things I see going on in our country. So I sat down and I wrote this little three-minute straight-ahead country song called Progress. And I wrote it actually in the beginning of the year, and I

waited to see what the summer was going to look like, and I saw this poll that came out in early July that said 88% of Americans agree, and I went, wow, that's a big statement unto its own. They agree that the country's on the wrong track. I said, 88% of Americans? I said, that's conservatives and liberals and moderates. That's everybody. I said, it's time to put the song out so instead of going with the regular big platforms twitter facebook and youtube um i went with true social and rumble which are so much smaller than the ones i just listed obviously they're fledgling level at this point i said let's just see if i can beat the machine without using the machine let's see if it's possible to do it we put it out within six hours of it coming out,

the thing was the number one most downloaded song, not just in country, but in all of music. And it has stayed there to this very second. It's still sitting at number one. And there's people like Lizzo and Billie Eilish and Harry Styles and the biggest artists in the world are down below me. I don't have a record deal.

It's not number one because i'm singing it i can promise you that it's number one because of what it says and it's it's connecting with people on a very deep level and people are sharing it like crazy and you've got a lot of media on it a lot of people it became a news story yeah because you've done it without a label but also the the statement in the lyrics uh progress is not progress i mean right the hook line is stick your progress with a sun don't shine yeah which is a that's about the nicest way you could say that dave you know i didn't cuss at anybody i didn't i didn't do anything terrible it's not like a kid rock song or something it's i said it in a in a nice country boy kind of way but we've

had enough and a song says uh stick your progress where the sun don't shine. Keep your big mess away from me and mine. If you'd leave us alone, well, we'd all be just fine. So stick your progress where the sun don't shine. And I think what's happened is the moves that have happened recently have stepped so far outside of political differences. It's more like just personal. You have to do this or you can't go to work you have to do this your kid we're the parents when your kids are at school not you we're going to tell your kids what we want them to know they stepped into our lives to such a degree under the banner of progress i me for one i'm just not going to accept that anymore and i push back with this song

and it seems to be becoming quite an anthem for people that feel the same way yeah yeah it's especially devastating for Dave. He's a huge Billie Eilish fan. You don't know this. No doubt. And so he can't wear a shirt around right now because the song's just. I've messed up Dave's good time. Yes.

Massive Harry Styles fan. Totally just, yeah. Watermelon sugar high. That's Dave. All day. All day. I have no idea who these people are, you two. I've got a middle schooler.

Otherwise, I wouldn't either. I do know who John Rich is, though. Well, it's battling, man. It's still at number one, but these artists that are underneath me, they're 100 times bigger than me. So this is really just people like who are listening right now. If you want to see that sucker stay at number one, it's $1 it's not a big thing go download it on itunes and if you want to see can you beat the machine without bending the knee that's what i wanted to find out and thanks

for all the support we've been able to do it yeah well there's there's a whole bunch of us figuring that out right now because um this idea that you will comply right to the mobs totalitarian rule um you will comply uh with your virtue signaling and if you do not we will squash you like a bug right uh is a very real thing out there yes it is and uh it's something that everyone that's in the public eye is navigating uh companies are navigating it people that are in the public are navigating it where ramsey we have to be wise and principled uh and decide which fight we want to pick where is it we want to stir up a ruckus you know and we won't be intentional about it and so but it's it's a lot different than even three years ago or even five years ago

the environment the toxic environment and the culture is out of control hey john let me ask you this um we have one of those common questions i get from young authors people who want to be songwriters how do you do this and how do you write something everyone thinks you gotta have a deal you gotta go with the big machine you gotta go get a group of this that and you had something that was on your heart that said no no, I want to put this out there. And obviously you're a good singer or songwriter. You know how the recording process works. But what would you tell that young person with an idea who thinks they have to go this quote unquote traditional route to make it, to be heard, to do what I want to, to say what I want to say?

Right. Well, I think to Dave's point earlier, we have routes now to get directly to the people. It really comes down to your content at that point. If you come with something, you could be somebody we've never heard of before, but if you come with something that is inspiring enough, that hits hard enough, and it starts getting passed around,

it can turn into an absolute avalanche of action. Let's fire the song. We want to hear it as we go into the break. Yeah. There's a hole in this country where it's hard used to be. And no glory is divided on fire in the street. They say building back better will make America great. If that's a wave of the future, all I've got to say is

Stick your progress where the sun don't shine. Keep your big mess away from me and mine. Thanks for coming by, brother. If you leave us alone, we'll all be just fine. I just saw a study that really made me sad. It showed that families owning life insurance in the U.S. was at its lowest point since the 1970s. After what we've been through the past few years, I'm just lost on how people don't make this more of a priority. How are you going to make sure your family needs

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That's 800-356-4282 or zander.com. last couple years real estate market's been tough we've all felt it if you're scared well you don't have to be the market seems crazy it has slowed down but it's not going to crash if you're ready to buy it's a good seems crazy. It has slowed down, but it's not going to crash. If you're ready to buy, it's a good time to buy. If you're ready to sell, it's a good time to sell. It's just not as wild and crazy and white hot as it was a few months back. So what you've got to have is somebody with knowledge and skill to help you navigate this. This is not amateur hour.

You need a high-octane, high-protein real estate agent. If you're going to list a house right now, this is an excellent time to list a house. But you need to get in touch with one of our endorsed local providers that are Ramsey-trusted. These are agents that are high producers. They know what's going on. They've got their finger on the pulse. They're doing lots and lots of transactions every month. It's not your Uncle Charlie who just got his dadgum license. Don't list your house with your Uncle Charlie who just got his dad gum license don't list your house with

your uncle charlie who just got his license that's dumb because you're going to put your largest asset that you own with a newbie with a beginner don't do that get somebody that knows what they're doing ramsey solutions.com slash agent get with one of our elps that are ramsey trusted ramsey solutions dot com slash agent lisa is in grand island nebraska hi lisa welcome to the ramsey show hi thank you it's an honor to speak with you both you too what's up i have a thank you i have a maybe a couple questions my husband and i i'm 60 and he's 63 and we have about 30,000 left on our mortgage. And I am wondering if we could take 15,000 out of our Roth and 15,000 out of our 401k to just kind of rip the bandaidaid off how much is in your roth total um now it's about 520

why don't you just take it all out of the roth well our 401k is 5 and our roth is at 22 22 000 yes yeah okay and the the balance on the mortgage was 30 yes you've got any money in savings that's not in retirement um just our savings how much is in that uh 15 okay all right i'd probably clean out that roth just for simplicity okay that's 22 of it and then pull the rest out of your 401k and you're going to pay taxes on that but no penalties okay and i'd be dead free like by the end of the week oh good all right because my advisor is kind of thinking that we're not going to have really enough to get us through if thirty thousand dollars keeps you from getting through when you have 525 000 in your account your advisor's an idiot okay i feel much better i mean think about

it you're not if you're thirty thousand dollars off you got other problems i think a great gift you could provide your um advisor would be to swing by a CVS and pick up a calculator. And when you go visit, you could just hand that with a bow on it. It's an old-fashioned thing that people used to use, yeah. Our question of the day comes from Blinds.com. Find out for yourself why Blinds.com is the number one online retailer of custom window coverings. Free samples, free shipping, new promos. They run every month.

You'll save even more use the promo code ramsey to get the best deal all right today's question comes from jason in texas jason writes i've been a huge fan for 20 years but have not been able to implement any of your strategies because just take a pause right there my wife thinks tithing and the rest of your methods are too restrictive. She stopped going to church a long time ago and refuses to forgive me for things that happened in our past. The ministers that I've consulted with say she has emotionally and spiritually abandoned me years ago. Oh man. My 18 year old watches your videos and loves them. She keeps asking, why didn't you

and mom do all this stuff? It seems to work really well. I'm trying to explain why, but don't want to throw her mom under the bus. Is there a way a 52-year-old can start over in life and help a daughter become all she can be? Yes. They do it all the time. Yeah, all the time. I don't want to minimize. Jason, I don't want to minimize your pain. Here's what your daughter really needs.

To quote our friend Jocko, she needs you to take ownership. You look back over your life and it's because your wife did this, your wife didn't do that, it's because of this. What she needs you to say is, I didn didn't i made some choices along the way and here's where i find myself and here's what i'm gonna do with these next steps and here's what you can do too and there's something about that ownership that's really powerful so it sounds like there's a a chasm in this relationship is this due for an ultimatum like you go see a marriage counselor um and you say uh i'm gonna go see a counselor

and if we can't begin to get on the same page and resolve some of these things, then we're going to call this? The way it writes is, is there a way to start over? I was just assuming that they've called it. Yeah, they've called it. It sounds like he has. The ministers have given him permission. It's in his mind. Right.

But I don't think he's looked at her and said, This is done. It's time for me to move on. It's unless we can heal, this is done. It's time for me to move on. It's unless we can heal, this is done. That's right. Zero chance of a healing? Yeah. I mean, if your spouse left you emotionally and spiritually and physically years and years ago, then, yeah, these kids have grown up in a home.

And that's their picture of what love looks like. That's their picture of what marriage and partnership and communication and connection looks like and so healing starts with um i didn't i should have had a hard conversation a long long time ago and i didn't and this is the law that i basically they've been divorced they just need to actually formalize it they've been divorced for a long time and they just need to formalize they've modeled modeled what that looks like to their kids and so it starts with ownership here's some choices i didn't make right a long long time ago um and here's the more importantly or as importantly is here's what i'm going to start doing now and i'd love you to join me and i think i think it's that complicated and that hard

and that simple yeah when we went through bankruptcy and lost everything, it, um, terrorized me and traumatized Sharon. Um, and so that's a thing I did that she had to forgive me for in a sense, cause I basically, you know, I always laugh and say, she thought she married Sir Galahad. Turns out was goober but um but that's you know the the truth is she was left um with situation but i was not going on nor but i there's a period of time that we can uh recognize the terror that she felt the trauma from having little kids and no money in the water got turned off because her husband's a buffoon right uh okay granted but five years later we're not still talking about that then she's choosing to carry that stuff around

and i'm not gonna i'm not gonna be at the other end of that weapon it odd infinitum right once somebody says i'm staying so dude 20 years ago you did something you know after four years of that everything after four years is your fault if you choose to carry that thing around no you know he put he accepted the paralyzation of the household for 16 years longer than he should have that's right that's right he should have dealt with her that's right a long long time ago lack of healing that's right and it was not that she didn't have a valid reason for being pissed i don't know what he did right but i know what i did i lost everything it was not that she didn't have a valid reason for being pissed. I don't know what he did. Right.

But I know what I did. I lost everything. It was my fault. Sharon had no idea what was going on. It wasn't her fault. I didn't hide it from her. I just didn't ask her. Right.

And she didn't know. And so she's left feeling, you know, like you're driving down the road in the middle of the night and you hit a patch of ice and the car starts spinning yeah that's a good you know you're going to hit something you just don't know what or when and you know and that's where she was for a year and a half period of time as we went down the the the toilet financially and around and around we go you know and so yeah granted and today even um you know we've got checks and balances in our relationship in place so that she's not left feeling like I'm somehow out of control again. That's right. Because that little seed.

That was 30 years ago. That's right. And how old was Rachel when all this happened? Born. Baby. She's a baby. So when I think about my friend Rachel, we've talked about this, when she has an emergency fund for her emergency fund,

those seeds were planted in money could be scarce so money's a thing right and that's those are long ago right so she felt that tension from her mom sit with your daughter and have that conversation right here Jason take ownership brother yeah time past time to take ownership this is the Ramsey Personality, number one best-selling author, is my co-host today in the lobby of Ramsey Solutions on the debt-free stage. Lorraine is with us. How are you, Lorraine? I'm nervous, but I'm good. I got this.

I got this. You got it. You got it. We've never lost a patient. Okay, good. I got this. I got this. You got it. You got it. We've never lost a patient. Okay, good. So you're going to be okay. So we're so glad you're here. Thanks for coming.

Where do you live? Thank you. I'm from LA, California. Oh, fun. Welcome to Nashville. Thank you. So how much debt did Lorraine pay off? I paid off $70,000.

Very good. How long did that take? It took me three years. Good for you. And your range of income during that time? I went from $219 to $234. Whoa. What do you do for a living?

I'm a heavy lift operator. I work for the ports of LA and Long Beach, closer to the city of San Pedro, for a company called APL. Yeah, yeah. So you're sitting in one of those cabs lifting those cartons on and off the ships. All day. Y'all have had a boring few years, huh? It's been hectic. It's been crazy.

Yeah, the last few months trying to play catch up. Yeah. Wow. It's been a lot of work. Have you ever dropped one? Yes. Yes. Okay, I just needed to know.

What was in it actually i um not the can but the whole machine tipped over because it was too heavy yeah with you in it oh yeah i had a rescue team come and get me out you were in the did it go in the drink it went in the water no no no it was on the it was on the yard but it was uh not facing how many stories did it fall over this is it was i'll get back to the debt in a minute oh my god it was about oh my goodness um five high she's the reason we can't get glass it was that was the one full of glass it was full of sand it was gravel oh that's why it was really heavy and i stack them up they They're 40 feet high each can, so I did.

Oh, my God, it's pretty high. Yeah. It's pretty high. So it wasn't a straight drop. It was like, mmm. Yeah, like a tree. Oh, my gosh. Yeah.

Wow. And then the next day, you're back in there going again, huh? Going to do that again. Go do it. $200,000 a year to do that. That's awesome. Yeah. So what kind of debt was your $70 so i had credit fever i had a big relationship with my credit cards um

mostly credit cards kind of a toxic relationship an abusive relationship yes um i had uh two personal loans i had a car loan and i paid my son's um on a monthly basis. You were just kind of normal. I was very normal. Making $200,000 and broke. Very broke. So what happened? What woke you up? I just, I had just bought my car

and I was, you know, excited going through the channels. I stopped listening to music and I said, I'm just listening to, you know, radio podcasts and stuff like that. And I accidentally heard you on one of the stations say, are you sick and tired of being sick and tired? And I was like, what? What is he talking about? And I switched it another time.

I heard it again. And you said, are you living paycheck to paycheck? And I was like, what? And then I switched it again. Who's this guy following me around? I was like, what does he want? Is he talking to me? How does he know? Following me around.

And then the last time I heard you, you said, most Americans don't even have $1,000 saved in their savings. And I was like, okay, he knows too much. This is too much. He knows way too much about my life like this is me and so i tuned in your shoe size is nine this new car has a spy thing in it yeah it's a tesla feature i tuned in and i said oh my god all these years i've been doing everything wrong everything wrong i i was told the more money you make the more money you spend the more money you make the more money you spend and that was my

that was her mother's voice did you hear I heard it I heard it actually that was my dad's voice oh okay my mom was that has a high voice yeah my mom was a frugal one she was like debt is the devil you know don't get no credit cards that That's horrible. Don't do that. Don't live like that. Okay. So she was, you know, a lot more. Okay. So you started listening to the radio, and that kind of, you start going, I've been doing

this all wrong. Then what did you do? You just kept listening more, or you got the book, or what'd you do? I got the book. Total Money Makeover? Oh, yeah. Okay. Oh, yeah.

I said, I got to go get this book. I need to read it. I, this guy knows what he's talking about. He knows everything about everything that I've done wrong. Would you tell my wife? Yeah, you became my financial father. And, you know, and I just said, wow, like, I never, you know, my dad never really talked to me about finances. We were raised, do as you're told, and don't ask questions.

So I'm hearing you talk about your kids and how you, you know, raise Rachel and how Rachel's like me. I'm Rachel. Like, I'm like, oh, my God. He would be so mad at me. Plus or minus being in a tower lifting bridge. I was like, Father Dave would be so mad at me right now. I was like, I need to make him proud. So now you did it.

I did it. What do you tell people the key to paying off $70,000 is? I say get on a budget. Getting on a budget was new to me. I knew how much I had to pay, but I never knew how to get it done. And the book just guided me me and it took me there and about a year before i almost uh finished i wanted to be debt free by the time i was 50 but you know life happens and a lot of things happen in my in my family that held me back so i

um ended up um going into your website and I got a financial coach and she was excellent. Cynthia Stringer, she's watching. I told her to watch me. Way to go, Cynthia. The most beautiful voice, very calming, very soothing. She became my financial therapist at the end. Wow. And I told her about how I felt.

I, to be honest with you, I didn't cut my credit cards until I was done because I was so attached to them. You do have a wicked relationship. Yes. Will you ever go back? Never. You sure? Because they were abusive and you enjoyed it. I have five children at home.

I have Anthony, Ruben, Alan, alan and alina and they look at me and we're we're all on the same page now they are all way better than i am and they are already at their emergency fund they're already at 10 000 so they're doing great and you know they're only working you know little jobs here and there and they're doing amazing and you know they're only working you know little jobs here and there and they're doing amazing and so i owe that to you because you changed my family tree you did yeah well you're a hero girl with your steps and your hero and um you know you're used to lifting heavy things but you lifted a whole life change thank you pretty important thank you yeah and don't minimize i i watched my mom do hard things from 40 to 50 and it's changed generationally.

My kids are different because of the work my mom did when she was in her 40s. And your kids watched that happen. And your grandkids are going to pick up these messages about freedom and living without this debt. So good for you. It's been. It took 10 years and you changed an entire legacy. I did. I did.

And I'm just so proud. I have more than a thousand dollars saved now. I never had that before. And after my journey in January, I've always had kidney stone issues and I had this huge kidney stone. It was like an inch and a quarter. And I had already saved some money in my emergency fund and I was off for a month and I was whistling the whole time. I was just, you know, recovering at peace. And it was beautiful. An emergency becomes an inconvenience

when you got your crap together. Well done, kiddo. It's incredible. Well done. kiddo. It's incredible. Well done. It was great. You're amazing. We've got a copy of Baby Steps Millionaires for you. That's the next chapter in your story for sure.

And another copy of Total Money Makeover. You can give that away when you're talking about this sometime and somebody says, How'd you do that? Total Money Makeover did it. It's done it for about 8 million people, by the way. And Financial Peace University, if you've not been through it yet, we're going to give you a membership for a year. If you have been through it, give it to somebody.

The brand new videos and of course, plug into the community there. You get people around you like you did with a coach and all that. It changes everything in the whole process. It's pretty, pretty stinking incredible. So proud of you, kiddo. Well done. Well done.

$70,000 paid off. Lorraine from Los Angeles. Three years she did it, making $219,000 to $234,000. More importantly, she changed her whole life. Count it down. Let's hear a debt-free scream. Three, two, one. I'm debt-free!

Yeah! Woo! Woo-hoo-hoo! That's how that's done. Boom! Yeah! That's how that's done. Boom! Wow! We'll be right back. Our scripture of the day, Isaiah 41.10, Fear not, for I am with you. Be not dismayed, for I am your God. I will strengthen you.

I will help you. I will uphold you with my righteous right hand. Eleanor Roosevelt said, Do one thing every day that scares you. There you go. Every time I'm on the air scares you there you go every time i'm on the air with you dave every time you're on the air with me there you go hey and by the way the last time i was on the show i was with rachel and i'm glad you prefaced this with the scripture of the day um this the you know there's a bunch of different segments here and I didn't realize what segment we were on

the last one and all of a sudden Rachel starts talking in this old Isaiah Old Testament language and I heard if you ever feel sad and I was like what is happening to Rachel's brain and I started to turn and quietly look

and I didn't know what was happening and then I realized she was reading scripture today it It was fantastic. So thank you for prefacing for everybody. I thought we were losing a patient. Yeah, it could happen. Bill's in Scranton, Pennsylvania. Hey, Bill, what's up? Hey, Dave, thanks for taking my call.

My question is my wife and I have been in Baby Steps 3B for almost two years. In that time, we've been in the same home. We've had a second child. And, you know, the reason for being in 3B was because our house was getting too small. But after all this time, we've kind of decided that we're going to stay where we're at and looking at the route of putting on an addition. During that time, we've saved up roughly $70,000 and we have about 150 of equity in our current home that, you know, now that we're not selling, I'm assuming we don't

have access to. So just looking to see when can we, what's our best step to get that, make that home renovation in addition and when can we what are you gonna spend on the addition six what we figure the addition would be roughly about $130,000 okay to story what's your household income my wife $150,000 and what's the home currently worth today? Roughly $300,000. Okay. So what do homes on your street generally sell for?

So we have one of the smaller homes in our neighborhood, in our street. But houses range from $350,000 to $450,000. And you said your current home is worth $300. Right, with the market today. Yeah, yeah. Okay. I would not renovate it. I would sell it.

Mm-hmm. Yeah, I mean, that's what our original idea was two years ago. That's a better idea. Here's why you're going to spend two years of your life in hell that's called a renovation it's purgatory it's right next door to hell and um it's not hell but you can see it from there you can hear it and um on top of that when you finish if you do a good job with the design, and that's most of the time a big if, because you're getting ready to change this home by 30 to 40 percent of its structure. That's such a large renovation that's almost like building a house and the chances of you doing that with good architectural when you're done the house isn't just weird it's fairly low it's very hard to do what you're doing well very hard um and if you do it well and it all comes out perfect after you go through the

two years of hell now you have the most expensive house in the neighborhood which is never where you want to be at the top of the market so if i woke up in your shoes i would sell that sucker and i would go buy a house that's got the stuff in it you want in a neighborhood where you're in the middle or the bottom half of the price range where you can get the most future appreciation take the equity out of your house and the 70 000 put it down take out a 15 year fixed rate where the payment's no more than the fourth of your take-home pay and i would move to a 450 or 500 000 house you make enough money to do that with uh 220 000 down payment for sure and um guess what you don't have to go through two years of hell um because i gotta tell you man building a house is difficult building a house while you're living in it is grounds for divorce i mean it's just it's it's jeez we can have a big fight hanging

curtain rods building a whole house no no i would not do it i i would not do it. Am I being clear about advising against this? Before we go to this next caller, what are your thoughts on renovating a home? Yeah, no. Sell your house, man. I'll tell you the other thing is we've done light renovations a couple times. Like while we were gone on a two-week trip or something, they would come in and tear out a wall and redo a bedroom and change the carpet out and put hardwoods down and something like that i mean you know but you know some substantial renovations but not not major knockout entire things where you have to

move out of the house kind of crap and um you know what happens about six or eight months after i finish that we move i love it yeah i just i have i have a yeah i have a thing all right brendan's with us in idaho falls hi brendan how are you hi doing well good how can we help my family's preparing to move overseas in a little over a year what should we do now with our possessions should we start selling things or look into long-term storage? What do you want to do with them? Probably store them. Why?

Why? What is so valuable about that couch? Oh, yeah, probably not the couch, but the possessions, I guess. Okay. Well, I mean, but the possessions, I guess. Okay. Well, I mean, there's two categories of possessions. There's garage sale crap that you're about to pay money to store that you should have sold. And then there are things that are family heirlooms or keepsakes that you would never want to get rid of for any price. Of course. that you would never want to get rid of for any price. But I wouldn't pay storage fees for a used couch or a kitchen table.

We'll just get you another one later, unless it was Grandma's kitchen table. Dude, I did that one time, man. I put a couch in storage when I was in an apartment, and a year later, at $50 a month, I realized I'd paid $600. I mean, I paid more than a new couch was worth back then. It was so ridiculous man i would pare my stuff down as bare minimum as you can and get rid of it and if you have a few things that are legacy pieces then yeah hang on to those yeah yeah or stuff that you you know that that you

well i mean there needs to be a real reason that it can't be replaced with a better one newer one when you get back how long you're you going to be gone? At least five years. Are you going on the mission field or what? Just working at doing higher education. Yeah. What are you thinking about storing? What do you want to keep? A few vehicles, things that would be a little difficult to get right immediately.

Don't keep a car in storage for five years unless it's a classic. would be a little difficult to get right immediately once we move back. Don't keep a car in storage for five years unless it's a classic. It'll depreciate off from under you. Sell it, man. Gotcha. The car that you have now, how old is it? 2010. Okay.

So it's already 12 years old. Mm-hmm. And when you get back it'll be 17 year old car yep that is not a no yeah sell it man sell that no sell that for sure okay there's no there's no if there's not a sentimental a deep sentimental hold on something there's going to be very few things in your household that are not going to be ridiculously outdated when you come back in five years five years in our world of rapid change is an eternity i mean can you imagine getting a tv out of storage that was 10 years old have you seen five-year-old pictures of yourself dave well five-year-old pictures of me look about the same

but yeah that's the thing i mean five-year-old pictures of your kids i mean things change that your five-year-old cell phone i mean anything everything is five years is ancient for most things no i would not hardly keep anything here here's an important thing have some money so that when you when you start planning on your return put put some money away with a sinking fund so that you can walk, land here, and go buy a car. Yeah. I mean, take the money from your cars and stuff and park the money. The money can sit there. It won't deteriorate, assuming you don't put it in Bitcoin.

I mean, but other than that, it's going to go up and go with it. But put it in a savings account. It'll be there when you get back and buy another car. And you'll be pretty close on that. Good show, John. Thanks for hanging out. Well done, Will, Austin, Ben, Zach, Andrew, James in the booth. I am Dave Ramsey, your host.

We'll be back with you before you know it. In the meantime, remember, there's ultimately only one way to financial peace, and that's to walk daily with the Prince of Peace, Christ Jesus. Dave here. You can find all of our shows with the Ramsey Network app on your smartphone. It's the only place to listen to the entire back catalog of episodes. Download the Ramsey Network app in your favorite app store today.