The Ramsey Show - App - Should We Start Investing? (Hour 2)

Episode Date: July 26, 2024

From the Ramsey Network, it's the Ramsey Show, where we help people build wealth, do work that they love, and create amazing relationships. I'm Jade Warshaw. Next to me is Ken Coleman, one of my favorite guys to host with. Wow. I gotta say, you know, there's not many to choose from. I was gonna say. The list is not very long. The list is short. We have a good time on here.

I'm here talking about your money and Ken is here to talk to you about your career questions so you can give us a call. 888- Making Mo Money. By the way, can I point out before we go to the phones? Yeah. Somebody has brought a cut out of dave ramsey is it you folks out there is it this couple here it's throwing me off and i swear to you all like it every and i know it's there but james multiple times i look up and it freaks me

out man like he's just standing there and it's pretty life-size i mean it's close he's pretty that's a pretty short i'm talking about the head and the shoulders. Yeah. You know, knees and toes. Yes. Okay. I'm just saying it freaks me out a little bit. I look out there.

So I may make you all turn him the other direction here in the second, third hour. We'll see. Sorry, Jade. Have you noticed him? I noticed at first hour and I did like a triple take. I was like, what's Dave doing? And then I was like, wait a second. That's funny.

Okay. ADHD is real. It is real. I was talking about the number if you wanted to call it. Sorry, I know. Just freaking me out. No, you are right about that.

888-825-5225. And we will take your calls about your life, your money, and your career. We got Renee in Houston, Texas. H-Town, what's going on? Hey, guys. It's so wonderful to talk to both of you. I really enjoy listening to the Ramsey show and grateful for all of the insight, especially Ken. Your books are just great.

Thank you. So I've been in a job now for about three years. I, I, during that time was able to get my master's in project management. Um, through my work, I actually am benefited with, um, tuition remission. So my school, and so, yeah, it was great. Um, in the process though, because of the position that I have I'm only a few hundred dollars less than one of my managers and I think that a lot of that has caused a lot of resentment and she's had issues how she communicates with me is very retaliatory at times and I've even gone to ombuds just to seek out some additional assistance with how to actually improve work relations, if you will. Um, it's, uh, she's not wanting to go to ombuds cause that's just kind

of like, um, she doesn't apologize for how she treats me at times. And, um, it's difficult because she's kind of like not my direct boss. I have a program director for medical education. I love the people that I work with. They're all doctors. They are the salt and life of the world and very service-oriented, like I have learned with being a project manager. I am scheduled to take my PMP on August nights and I'm super stoked because as we know, it's kind of like the boards for becoming a project manager. And a lot of funds

are usually tied to that because a lot of job places want that if you have that certification. So she doesn't see the value in the fact that I have this exam scheduled. It's always about the job that I have. And I don't want to stay in my job forever because I'm at a wall financially. Right. I went through a divorce a few years ago, have three kids. Right. And I'm just really trying to put my best foot forward and I have applied for jobs and

just really don't know what to do next. Okay. So let me, let me dig a little bit. So if you were to pass the PMP, are you immediately going to be up for some type of role in your current company? I don't think I could. Keep your phone, keep your, keep your phone on your mouth here cause it's kind of going in and out. There we go. Okay.

So, all right. So that's not a viable option right now. No. But. Because it's a university and they don't have job openings. Okay. Gotcha. But you'll be immediately looking for something the moment you pass that. You'll immediately be looking for project management roles, correct?

Oh, absolutely. And I have already because I have my master's and plus 20 some odd years of work experience. I'm not fresh out of college. Well, I didn't hear an exact question, but I know what you're saying. And so I'm going to tell you that I would not sweat her very much at all. I wouldn't sweat that. You are a short-termer. Would you agree with this? Oh, absolutely. Absolutely. And there's a lot of what you do right now with your actual, I don't understand if she's like your half boss or you're sort of kind of, like that threw me for a minute, but all of that is

I'm just kind of coming in at going, number one, you're not going to be there long-term. Number two, she's not even your direct leader. And you actually said the other folks are the ones you actually enjoy working with. I would treat her the way we treat difficult people that we cannot remove. And I think all of us have difficult people in our lives that we cannot remove. I don't want that to sound. Don't look at me, Ken. No, gosh, stop it. I'm just saying, my point is, whether it be in our family, whether it be in our friend group,

whether it be at the office, I think we can all acknowledge today there are difficult people that we don't have any kind of actual control to be able to remove them from our orbit is what I'm getting at. And so what do we do in a situation like that? Jade, how do you handle a difficult person that you can't change that person and you can't get them out of the orbit? So how do you deal with it? I'm doing two things. I am avoiding as much as I can. If I don't have to interact with you, I'm not going to.

But when I do, I'm killing you with kindness. She did not know I was going to put her on the spot, Renee. I think that's fantastic advice. And that's where I was going. I think you just be the bigger person. Do not give her any power. This is kind of like the mean girl or the bully. She's on the hater rate.

Yeah, you don't give her any power. And the more you let her get to you, the more she sees that she's getting to you, and she goes, I'm winning. I love Jade's killer with kindness. I think that might drive her away from you. Yeah. Because she's going to be like, well, that's not working.

See, here's the bottom line. This is a woman who is consumed with resentment. And it's very clear. And you know why. So because you're short term, I would literally rise above and I'd take Jade's advice. I thought Jade's advice was fantastic. Wow. Thanks for the call.

It was a great call. Yeah, absolutely. Got to be the bigger person you have to be better at you know kinder just be like i'm like i'm not letting you pull me into your vortex you know she saw it's almost like i'll call her her leader for lack of a better word but saw saw her going up and achieving more and doing more and instead of congratulating her you know she started hating on her. And I'm like, that is, it is not a good quality.

That's exactly right. And by the way, one other thing to add to this. Now this takes some maturity and I wish I could tell you that I did this right away. I had to learn this and I will tell you, I had to learn it slogging through the learning process. Okay, but here's what you have to do in that situation. If you can get to the point where you realized that this is a hurting person and they're not happy with

their life and they see your progress and all your progress does is remind them of their lack of progress. By the way, folks, I'm getting real right now. Some of you all are dealing with this, trying to get out of debt and your friends and family are being haters and you're going, what's the deal? And it doesn't make sense because they're supposed to be for you, and they still are. You've got to give them a little bit of grace because what I think they're dealing with is they're seeing you progress, and as you're leaving their debt-ridden status, they feel like you're leaving them, and they want to pull you back in so they don't feel as bad about themselves. I'm telling you, I'm spitting truth right now.

Come on, Ken. And I think to the extent that you can see that person with empathy and grace and then go, I'm not going to let them bother me. Bless their heart. It's that old school, bless your heart. Bless your heart. As you said, you said it, kill them with kindness. Kill them with kindness. Yeah, whenever you're moving forward, like Ken said, it's a mirror.

And when you do it, they can see all the things they're not doing in the mirror of things you are doing. This is The Ramsey Show. You're listening to The Ramsey Show. Hey, thank you for being a listener. I know a lot of you guys have been with us for a long time. Some of you maybe just found the show, but you're here with us today.

And if you're here with us today, I have a small favor to ask you. If you like the show, whatever you're listening to, whether it's a podcast app, if you're listening on YouTube, take a moment, like and subscribe to the show if you can. Share it with a friend or a family member or a coworker. When you do that, it's so helpful for all of us. It kicks it up in the algorithm and more people have access to the life change that you experience on this show every single day. And it literally moves us up the charts. It's crazy. Yes. We got an email not too long ago. We were like number one or two or something in the whole thing. And I called my mom. So it helps us with our parents. Is that what you were getting at?

Just a stupid joke. Just a silly joke. You know, no, of course not. But that's kind of wild. Yeah, it is crazy. That's how the whole algorithm works. I can't spell algorithm, but apparently that's how it works. Yeah. And when you subscribe to it, it's great. Because then when you open up your app, it's already there. Like you don't have to search for it.

It's already served up to you, which is nice. And of course, when you share it, you're sharing the good news. And people need what we're talking about on this show. People need to hear Ken Coleman. Well, yeah. Yeah, I'll go with that sure sure by the way i'm jade warshaw he's ken coleman we're taking your calls this is a live show that's right so if you want to get on you gotta call script here we're having fun this is the real deal there's no script and you know what let's just take a moment because some people probably want to know like what's on our papers. Like, does it tell us what to say? No.

And the answer is no, it doesn't. It's a lot of blank pages that tell us. Suggestions. Yeah. We got suggestions, you know. Yeah. What happens the next hour? You need to talk about the question of the day.

Right. And after that, you need to talk about, you know, but there's no cue cards. No. All right. It's all real. It's real time, real life happening in the moment. That's right. So let's go.

Let's help somebody. Let's go to Melissa in Sacramento, California. What's up? Hi there. How's it going? It's going great. Good. How are you?

Oh, I'm so excited. I'm here with my husband, Chris, and we're very excited to talk to you today. Excellent. Because we are waging a debate. Oh, I get to get my gavel. Yeah. So we've been married for eight months and we just finished baby step three. So I'll kind of give the debate and then some background and then I'll let you do your thing here. So our debate is that now that baby step three is complete, what do we do with the extra margin as we prepare to buy a house and start a family?

Essentially to 3B or not to 3B? That's our question. Ooh, I love how you posed it. margin just to stack cash for upcoming moving and growing family, where I'm a little more keen to start Baby Step 4 and then put away any other leftover as sort of like a liquid account. So a little bit of background here. Our goal is to buy a house in the next 6 to 12 months. We have about $70,000 in equity in our condo, which we'd sell to move, and we'd probably walk away with about $130,000 after selling. The homes that we're looking at are about $450,000 to $500,000 range, but our income is not currently high enough to meet the monthly 25% rule with a down payment on a house for that cost.

So we're in process of raising that. We've been earning about $6,000 to $9,000 a month. We've had a pretty variable income for the last six months. My husband is working on changing careers. I'm looking at getting a raise and looking at tax withholdings as well. So essentially, we've been able to find $2,000 to $4,000 each month to put towards savings. And again, my husband wants to just keep on stacking that margin for all the upcoming expenses that we plan to have in the next 6 to 12 months.

Plus, plus, plus, plus, we've got to have more down payment is what you're telling me in order to get to the 25%. Is that what I'm hearing? Yes, if we can't get the income up. How much more do you need? And I wrote down $130K is what you're saying you guys are going to walk away with in selling the condo. So in order to get to that formula that we teach, that your mortgage is no more than 25% of your take-home, how much more down payment? So beyond the $130, how much more cash would we need to get there?

I don't want to assume the income, and I'll tell you why in a second. I have a chart, but I don't know what the number is off the top of my head. Does Chris? I don't know. I think that maybe he could he could look it up here for for me real quick um i would want to say it'd probably be another like 20 000 okay okay yeah i just i know i'm just getting that information off for jade there because i think it helps us you know because we got to come up with another 20k there in order to get it in order

to get it there and how long do you think it would take you all to get that 20K at your current rate? At the current rate, so that's a little bit of a tough thing. So for the last six months, we've been earning that sort of like variable, about 9,000 a month. But with the recent career change, our income has changed. Okay, but ballpark it, ballpark it. Probably about, again, five to six, well, yeah, five to six months maybe. Okay, all right. So do you think that you spend more time in the $9,000 range or in the $6,000 range? Right now with where we're at job-wise, it would the $9,000 range or in the $6,000 range? Right now with where we're at job wise, it would be $6,000.

Okay. So that, that, I mean, that's a big change. That's a $3,000 swing every single month. So when you're calculating this with him, are you calculating it at the $6,000 mark or the $9,000 mark? Yeah. To get to that six months from now to have that additional 20. That's what we're asking. We have been calculating at the 9,000 because the career change just happened this month. All right, so does that push it back to, we're being conservative,

does that push it back to nine months, 12 months to get the additional 20? Yes, most likely. If we didn't focus on, I think we're focusing more on getting our income up versus giving up the down payment. And I think that's great, but I think it's both and. Like, you guys can still save money while trying to get better jobs. So it's not choosing one or the other. Jade, I'm going to get out of the way because you're the money expert. I'm going to vote for I'm with Chris.

I think Chris is right. I think I would save the additional money because it's such a short amount of time, but it gets you in such a better financial position, one that we actually recommend. And then once we're in the house and we made all the moves and stuff, that cash that Chris has pulled aside, then we go into baby stuff for. Yeah, Ken is right. And the reason he's right is the way that we look at this is, you're right, you have the opportunity to toggle between those two or choose one or the other. But the way that we decide what's best is if it were going to take you more than three years to save up this down payment that you need, we might say, okay, save up hard for three years. And then once you hit the three year mark, we want you investing something. So from there there on you would kind of split it up um or you could decide you know if a home ownership wasn't even on the table at all you could go directly to four and then once it is on the table you could pause it and go back to 3b so you have options but because for you guys it's less than a year that that all of this can take place yeah i'd probably you know put my head down and you guys save up this money. I'm with Ken all the way.

All right. Well, Chris will be very pleased to hear that. Is he on the line? Is he right there? He's in the house. I'm in a different room. Oh, okay. But you know what? You're being sweet about it, but this is not like a major fight. You guys and your heads are in the right place. I just think, if anything, this will motivate you to actually knock that 20 out really quick and pursue the professional changes and the timeline changes when that income changes. Yeah, absolutely. And, yeah, we've had a good time talking about all of this.

That's good motivation. Yeah, we had our dream conversation, and he gave me a hard time because he said I didn't know how to dream. Well, I think what he's saying is you're probably the saver, aren't you? Of the two, you're the big saver. Yes, I've realized, yes. Yeah, well, you know what? You've got to have a little bit of fun in the midst of all that discipline.

I think that's what Hubs is saying. Yeah, this is really good. I think a lot of people face this. So we appreciate the call. And by the way, if you're a person who is looking to figure out if you can afford the house, should you be investing? Should you be waiting? Should you be saving for the down payment?

We have a really cool mortgage calculator that you can check out. It can help you determine how much house you can afford. There's one that can help you determine when you're going to pay off your house. It's really, really helpful. You can find that at ramseysolutions.com real estate along with anything else that you could have uh in way of real estate needs this is a really great hub uh so yeah check that out this is the ramsey show you are listening to the ramsey show thanks for hanging out with us I'm Jade Warshaw next to me is Ken Coleman taking your calls all hour long give us a call number is 888-825-5225 we'll try our best to get you in uh Ken you know I you know I I partake in the Instagrams and the TikToks a

little bit yeah you're pretty good at it I mean I'll I post, yeah, but every once in a while I'll like- Oh, you mean the scroll? Yeah, I'll get in there and scroll for a little while. I try not to do too much. But the stuff on car payments and car notes is really what gets me. There's a lot out there. And recently, James sent me one that I had not seen that I was like, this is diabolical. Oh, this is fresh.

Are we about ready to see one? Yeah, take a look at this. You'll see what I'm talking about. Oh, this is fresh. Are we about ready to see one? Yeah, take a look at this. You'll see what I'm talking about. Oh, boy. Hey, you know how mortgages let people buy houses they can't afford? Think about doing that for cars. Like loans for cars you can't afford. Yeah. But no one's going to want to borrow to buy an appreciating asset. I think they might. Well, the loans would have to be dirt cheap. See, I was thinking about making them expensive, like more expensive than a mortgage. Mate, nobody's going to go for that. I got a feeling that by 2024, Americans alone will owe

$1.6 trillion in car debt. Really? So let me get this straight. If I wanted to buy a Mercedes with a loan, it'd end up costing me like 75 000 bucks but if i saved up it might cost me like 50 000 saved up what are you six years old do you want a new car i do oh no you know what that's brilliant actually i didn't know what we were going to get there. That's actually brilliant. From start to finish, that's brilliant. Yeah. I mean, it's brilliant.

Okay. So for those of you who couldn't see, it's basically a guy and he's explaining the fact that, hey, mortgage loans make sense. I mean, it's an asset that's going up in value. People are willing to pay. It's a low interest rate, depending on who you ask. But with cars, the idea is like, what if we did the same thing with cars? Nobody would want to do that.

It's a depreciating asset. And why would they want to spend more in interest payments? And the truth is, people do it. It's the last line. What I mean by brilliance is in how he lays out the absurdity of the proposition, but lands it on the clarity of the psychology. And he basically, the last line where he looks at the guy and he says, do you want a new car? Yeah. That's the psychology. Simply put, that's why the whole system works. People go,

I want it. This is painful painful this doesn't make a lot of sense but gee whiz it feels good but you want to know what and thus you get a car i don't even think people run it out like that ken i don't even think people think about the numbers at all i don't think they're going well it is a depreciating asset yeah but they do feel like this is gonna hit me i think they know what that payment's gonna be like people are dragging around seven hundred dollars plus well i think that's because most people are just like i want it i want it now that's what i'm getting don't tell me the numbers that's the whole point at the very last line they they are going the payment's a

little stiff it's gonna be tough but i don't care and i thought that was what was so brilliant james uh has that thing gone viral i'm not sure in some of the context if you couldn't that you couldn't see if you were just listening as it says like the invention of car loans so it was like taking it back to the parody of that but yeah i saw it it was brilliant this is how it all came about yeah it's just somebody was like we need to make money how can we make money off these folks this is how it came like we have we have proven we'll pay we'll pay a premium for anything even something that's going down in value and i love what he said there's i don't love this but he highlighted this and it's actually a sad truth

over 101.55 trillion dollars oh yeah that's not in auto loans as it stands you know 1.55 trillion ken i know you know what i was thinking about halfway through that deal there's another trend Oh, yeah, that's nuts. In auto loans, as it stands. $1.55 trillion, Ken. I know. You know what I was thinking about halfway through that deal? There's another trend that's probably come and gone. What? How it started, how it's going. How it's going.

Remember that? Yeah. I think it was kind of a relationship thing or something. So the how it started, James, is that right there, the car loan. Yeah. How it's going is what George gets gets all upset about where people are financing a 12 pack of coke it's gone crazy walmart like we've gone from that to now we're actually financing household groceries yeah that's how it's going but i mean it's crazy you know this

this car this car payment thing though it's you know, like we said, people go, I want it. I'm going to get it. I've got the margin. And, you know, yeah, they ran out the numbers and said what you're paying beyond because of your interest rate. But you have to do the bigger opportunity cost here and really play this out. Because think about it. OK, the average new car payment right now is $736. But there is a large percentage, almost 20% of people are paying $1,000 or more for their auto

loan. And I always play it to you like this. I'm like, if you live in a family, like most people have two cars, so it could be double that. And so- Absolutely. You're looking at a lot of American households having $1,500 or more a month. And then, Ken, this stat's going to blow your mind. 64.5% of buyers that have payments over a grand also have long-term loans. So people are paying $1,000 a month and they're locked into seven-year terms. For seven years, the opportunity it costs on that, that's $120,000. If you took that same money and just invested it for that same seven-year term, it's $120,000. Oh, my gosh.

Yeah, and I love what he said in that thing, too, that if you saved up for the Mercedes, you can get it for a whole lot less as opposed to financing it. My favorite Mercedes is the one that I picked up on an unbelievable deal a couple years ago. A little old lady had it. It was her second car. And it only had 47,000 miles on it. And your boy rolled up and paid cash. Listen, your Mercedes is cute.

I've seen it. It's a cool little car. Yeah, I like it. No, it's not brand new. It's a Mercedes. That's my point. Yeah. But I paid $16,000.

That's it? Told you. Because it's a 2013. Okay, Ken. That's it? Told you. Because it's a 2013. Okay, Ken Coleman. I'm keeping it real. But you wouldn't know it's a 2013. I wouldn't know. Yeah, and it had 47,000 miles on it.

That's a sweet deal, Ken. It's a little deal. It's a little. And you know who's going to get it next? Josie Bird, my daughter. So you know what I'm saying? Like I'm driving it. And my point is, is like, that's a quality vehicle.

Yes. And I got it for a song. But you're not. Because I was not, I didn't have to have the ego attached to the car. And you're not thinking about the values depreciating because it's off your books at this point. Like you pay cash for it. You're not thinking about that. I'd still brag on what kind of deal I got for it. But if you had payments each year and each mile that goes for it. You're not thinking about that. I'm still bragging on what kind of deal I got for it.

But if you had payments each year and each mile that goes on it. Well, let me give you two E words. If I had ego and emotion, which I think is wrapped around all this stuff you've been talking about, then your boy's financing a G-Wagon. Because I love, you know how much I love the G-Wagon. That's my dream car, Ken. We haven't talked about this. Let me tell you.

I want the matte black finish. Is that's my dream car, Ken. We haven't talked about this. Let me tell you. I want the matte black finish. Is that you too? Ken, you're a gangster. I've been trying to tell these folks that Ken is a gangster. Listen. I don't know what that means, but I'm receiving it. When Sam and I were getting out of debt, we put on our calendar. It was like 10 years in the future.

We said, what's our dream car? I said, I want a G-Wagon. We put it on our calendar. This is the day that we can buy it. We're gonna roll around the g wagons i'm speaking it over us wow i gotta get my kids i gotta get my kids through through school yeah you know what i'm saying but but let me tell you something daddy is gonna get a g wagon when mark it down ken when you get a g wagon you need to roll by the workshop house. No payments. No payments. Oh, I'm going to come pick. Pick us up.

Listen, Stacey and I are going to roll down there, pick you up. We're going to go to Nash Vegas. I'm going to be like, let me ride. But I think it's wild that we both want the matte. I love that matte black finish. The matte black. Oh, that's. With the mag wheels.

Yes. And what's the interior? You know what? We could go a lot of different directions okay the best for our listening audience it would be a um a deep deep caramel is what i like kind of like this wood finish for our viewing audience a dark yeah not a tan rich a little richer in fact i'll tell you what it is uh bmw has a has a leather and it's cognac is what they call it that's what i would want wait pronounce that.

Is it not Konyak? Did I give you a Kog? Did you give me a Kog? Is that right? Is it? Oh, boy. Now I'm looking at. We both looked at James for the answer.

Konyak. I think it's Konyak. Thanks, Dad. How did I say it? Did I say it wrong? You put a G in there. I didn't mean to. Oh, okay.

I didn't know. Konyak is how you say it. Did I do the Kog? It might have been the G. You gave You put a G in there. I didn't mean to. Oh, okay. I didn't know. Cognac is how you say it. Did I do the coke? It might have been the G. You gave a little coke on there. I was on the G wagon. I was stuck because I started fantasizing about that vehicle. Me too.

I would climb a mountain with that thing. That's right. But one thing neither of us would ever do is go into debt for it. As much as we salivate for these vehicles, we will never go into debt for them, and neither should you. It's costing you. Whether you realize it or not, it's costing you your future.

This is The Ramsey Show. You're listening to The Ramsey Show. Hey, we've got big news. Ken, this is the biggest the news gets. Oh, I think I know what you're talking about. It's almost as big as a cruise ship. All right, we got the live like no one else cruise. Guys, it's almost sold out.

Like this thing sold like hotcakes. This cruise is really the ultimate debt-free celebration. That's what it is. It's for people who have walked through the baby steps. They've, you know, paid off their debt. They've saved up the money. It really is for people who are in baby step four or above. It's not like we're bouncing people, but- Well, George and I made a joke about that on Wednesday on the show. We were like, George, you should be at the, what is it called? The

gangway? The gangway, yeah. Oh, look at me trying to- Good job. This is your world. I am over my skis right now. But anyway, I said, you should be there with a clipboard and and and making people at least look you in the eye and commit to it yeah we were joking about it but we're not going to do that no we're not but the truth is you'll have more fun if you wait i'm sure at some point we'll do it again i gotta ask you okay for those of you well let me tell you all about jade really quick so then i can ask her this question you'll understand so jade is a veteran. She's a professional musician, not just an awesome, you know, best-selling author and wonderful coach and all the things that she is.

In her previous life before us, she was, you know, I mean, like, she can sing Whitney. I was a Whitney Houston impersonator. Do you understand what I'm saying? Like, do you understand, like, how hard that is? Yes, you people do. You've seen American Idol. You know how hard that is yes you people do you've seen american idol you know how hard it is so she can sing whitney and so she and sam would travel together he's a musician producer he's he's a he's a talented dude and so they would travel on all these cruises like how many cruises would you say a thousand oh three thousand okay it's

it's yeah it's a lot all right here's my point. I want to know what you think of this itinerary. Mrs. I've traveled the world. It's a win. You like Turks and Caicos. It's a win. Turks and Caicos. St. Thomas is great, especially if you're into buying jewelry. Great port for that.

See, see, look what I tell you. She's got the inside scoop. That's right. Puerto Rico. Puerto Rico, wonderful. I wonder for... I like downtown. Downtown is beautiful. old town san juan there's a lot of free things that you can do a lot of scenic walks that you can take uh-huh and then last but not least bahamas what do you think uh i'm guessing it's the private island it is you like this itinerary i love it okay you can jet ski on the private

island but matter of fact when my husband and i were getting out of debt, we were jet ski instructors. I'm telling you. That was one of our jobs. I'm a demon on the jet ski. Really? Uh-huh. Speed demon. Speed demon.

That's what I'll be doing on the excursion. I promise you that. I love it. Who else is going besides you and me? It's going to be all of the personalities. Myself, Ken Coleman, Dave Ramsey, John Deloney, Rachel, George. Everybody's going gonna be there it's seven days now this is a seven day cruise are you going i am not going

look at that face i know only a mother could love it okay march 22nd through the 29th is when the cruise is going down here's the thing the cabins are running low. So VIP upgrades and many of the cabin types are actually completely sold out. So if you want to get in, you got to get in where you fit in. So pick up your cabin now. You can secure your spot with a $600 deposit. That's all it takes to get started.

And you want to book this today. So go to ramsesey solutions.com slash cruise to book your cabin and i did say the personalities are going to be there but there's also going to be a lot of kind of like celebrity folks there steven curtis chapman manit shohan i love her from the food network uh and tons more all week there is a rumor going around that there will be some you know like musical moments i asked john if he was going to play his guitar. He said yes. Oh.

Me and George are working on our duet. Really? No. Yeah, I was going to say, I don't like that pairing at all. You got too much power. He's like the folksy guy. You know, he's kind of your folk music, folk rocker kind of thing. We could do a Kermit and Miss Piggy deal.

I feel like that's a... Yeah, that's true. He could do that. That is good. All right, let's go to Scott. He's in Spokane, Washington. By the way, I want to say this before you go to Scott. Okay.

Since I'm a little offended no one's asking me for a duet opportunity, I'm sneaky good at singing. People don't know this. I feel like you're like a... If there's a pickleball court on this cruise, I'm just telling you all, I am holding court literally. All right? Lessons, domination, conversation, all of it to be had.

All right. I need to check into that. Check in. I will check in with Ken. All right. Spokane, Washington, the city I was born. We got Scott. What's going on?

Holy smokes. You're from that part of the world? Listen, I'm from Cheney washington don't judge i was born in spokane and i know and i know where that is and that's where my late wife and i've started our journey back in 1984 wow i was born in 1984 oh this is getting to be thick now what is happening april april april 7th of 84 is when we were married um i am another commercial for dave i we did not listen to and i've only been listening for a short time but we had gotten term insurance and a month before it was going to expire she passed away after a year-long battle 37 37 and change years who were married lost her in

october of 21 oh so sorry scott so sorry so my question is do i need life insurance because mine obviously expired about a month after, you know, and I, it's just going to get cost prohibitive. I have insurance to work, which is equivalent to two years of my salary. I have no debt.

I have, I'm beyond baby step three, I'm sure. And for, I don't, I don't know what, where it'd be, but there's a hundred and a 100 plus stacked in the bank.

The house is paid off, and the house is worth over $700. And how much is your work insurance policy worth, two years of your salary? What's the number? It's going to be probably about $200,000. Okay. And are you remarried? No, I'm not remarried. It's going to have to be somebody really special for me to remarry.

Any kids? I told my kids. Is there anyone who depends on your salary? No, my kids are all adults. My youngest is turning 24 next month, and my oldest will be really close to 40 in December. Nine grandkids, so yeah, it's, yeah, that's not an issue. I just wonder, you know, because obviously they're going to get everything. My 401k is going to have a little over 300 when I retire and I'm retiring in two years. How old are you?

And it's already, I'm 63, going to be 64 in December. Yeah. I mean, the purpose of insurance is to replace income for the people who depend on it. In this case, there's really nobody there. And you know that your estate is in really good shape. There's no debt there. There's only assets. You've got this other policy through work that's worth 200K, which is more than enough to pay for, you know, any final things that you want um for your children in your case um yeah you don't need it if you want it to have this money to you know as for legacy sake you could do that um if you're willing to you know for your kids if you say you know what i've got a great estate but i'd love to leave them a little bit more you could do that but it's not a necessity at this point you could you know you're at that

self-insure place in life um in this case but if it's worth it to you to pay i mean if you're healthy and it's worth it to you to pay a couple hundred bucks um every month or whatever it is then yeah you could do that and it it really just puts your legacy sets that up a little bit better but you don't have to uh-huh i wouldn't i wouldn't if i were you when and where were you in cheney oh gosh well i was born on a cold day in 1984 i'm just kidding i was born in 84 but we lived there for a little while and then we moved over to oregon and so yeah not long but i got a few memories there was a place called do you remember the place called it was called zips yeah it's still there it's still there wow that's something this

is great i'm gonna go ahead and take the rest of the show off and you and scott can just get caught up listen if you're if i'm ever in the cheney area i'm gonna look you up you should hey thanks for the call oh my goodness that's were you born, Ken? I was born in a teeny tiny town in West Virginia called Point Pleasant, a town of 5,000 people, just really super small. Most people are like, what? But my dad was a pastor, started a church there out of college, and that's how I got to teeny tiny town in West Virginia. Moved away when I was 12. Wow. To Virginia. So there you go. Wow.

That place is so small, they pump sunlight into it. Wow. That's saying something. Think about that. Well, I love that call. I loved hearing from Scott again. Insurance, it comes in need when you need it. If you don't have it, you need term life insurance, and you can get that from Zander Insurance,

which is where Ken and I get ours. Term life is what you're looking for. All right. That does it for this hour of the show. We'll see you.