The Ramsey Show - App - Stop Outsourcing Your Life & Start Living It (Hour 2)

Episode Date: January 5, 2022

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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. I'm Dave Ramsey, your host. You jump in, we'll talk about your life and your money. Open phones at 888-825-5225. That's 888-825-5225. Dr. John Deloney, Ramsey Personality, as I said, is my co-host. He is the best-selling author of the book, Redefining Anxiety.

Also host of the most popular and exploding podcast around here other than this one at the ramsey networks called the john dr john deloney show where we talk about relationships and boundaries and all kinds of fun stuff and some of it's a little crazy but most of it's just regular people trying to figure out how to make their way through life and i think what i'm finding out personally is the convergence of the things that i thought were crazy is it's everybody's going through something yeah everybody's going through something yeah there's there's some stuff out there but i mean some of the topics are weird yeah yeah but most of them are just like yeah i kind of get that and me too so tell me about that

john you know exactly yeah so speaking of which we always say around here that personal finance is 80% behavior. It's only 20% head knowledge. So I stumbled into the fact, backed into the fact 20 years ago in this 30-year journey, that if you don't have your marriage working on the same page, the chances of you becoming wealthy and getting out of debt are very low. It's worse than that. If you aren't controlling your behaviors, your maturity level is not increasing emotionally, spiritually. Your ability to build wealth and hold on to it is ridiculously low.

And actual data points to that. The extreme of that is I have worked in the financial crisis world now, off and on, you know, indirectly, directly, for 30 years, and 100% of the addicts that I have ever met end up broke. It's just a matter of when they either break away from the addiction and the behaviors associated with it or they end up broke because the addiction eats their life alive from the inside out it eats up all their relationships it eats up all their money it eats up their career and their ability to make money it eats up everything eventually it takes hold and it is the god that demands minute by minute day by day worship and steals your life from you addictions are the extreme of misbehavior but 100 of the misbehavior

whatever we want to call that if you want to call it an old Christian word, we'll call it sin. If you want to call it just things that don't help you personally, that are harming you personally, but feel good in the moment, then you get in all kinds of garbage here. And what we've seen is an explosion of those things, whether they're to the addiction level or not, because of our access to the Internet and the resulting industry explosions around gambling, online gambling, number two addiction now in the world, approaching number one, and destroying families for obvious reasons, destroying their finances for obvious reasons uh and uh because it is the ultimate in arrogance that you think you're going to win

and uh number one addiction uh porn yep and online porn i mean when i was a little kid porn was a was a playboy hidden under a rock in the woods exactly you know uh and are under somebody's some kid's mattress in the neighborhood that's not porn anymore no and every playboy ever printed is on somebody's cell phone right by their bedside table right well and it's boring compared to right the other stuff now i mean it's just bizarre and let me just tell you guys if you don't know this, it's the number one addiction, and more money is spent on pornography now in America than all professional sports, including NASCAR, combined. More than spent on NFL tickets, NBA tickets, anything added together, and we know what it's doing to their lives. We know. It's doing to their lives. We know.

It's not just being a prude. It's not the point. The point is there's a behavior mechanism here that is being destroyed in people's lives. And so when you pull up on the Internet, we do research here all the time on the Internet because we're always utilizing the Internet for marketing and for connecting to you guys for good stuff. But by far, far 5x the number one search is porn yep by far and the first 50 things that are searched on the internet almost none of them have anything to do with you winning right are you doing anything you doing they're all you controlling you they're all joe biden donald trump yeah misspellings of joe biden made the top 50

now that's funny i don't care who you are uh the uh uh you know porn triple x free porn nfl scores yeah gambling scores uh nba scores uh in a uh college football scores nothing wrong watching football nothing wrong with it you know with some of this but but you it's all about you escaping somewhere watching someone else be successful that's right i will never forget i went to see a i forgot the movie it was a jazz movie james probably knows what it is uh la la land yeah and i went and saw the movies beautiful movies it was great with me and my wife and And I walked out and I was walking towards our car

in the parking lot and I thought, I just spent 30 bucks in two hours of my life to watch another couple go have a romantic arc in jazz clubs and dancing when I could have just

taken my wife dancing. And I never forget thinking, I'm outsourcing. Why don't I go get a group of guys to go play basketball why do I pay money to watch other people play I don't even know them why would I put another man's jersey on my back that doesn't make sense get some guys to go play softball and I realized in on the way to my car out of that park out of that movie theater I'm outsourcing my entire life pornography is just an outsource of intimacy opioids is an outsourcing my entire life. Pornography is just an outsource of intimacy. Opioids is an outsourcing. It just keeps going and going and going.

And at some point, we have to plug back in. Or the teeter-totter hits for us, right? The economy collapses. We're going to have to stare each other in the face and be like, oh, hey, I haven't seen you in a while. We're going to have to deal with it at some point. And, man, if we could plug back into our own lives, man, what would that be like? Don't watch a fishing show. fishing right yeah go fishing don't go watch a golfing don't watch don't watch golf as a principle please just in general don't watch golf but go outside go play golf go play

golf go play i know you suck at it i do too go play golf i'm not good at golf go play golf i suck i'm saying i'm talking to the people out there you're really good i'm not that good but they i mean i've just learned how to play but the you know like it's this but go learn how to play do something you know instead of spending eight million dollars on a 5 000 square inch television yeah put a golf simulator in your basement yes which by the way one of our guys here did the other day. Built it out himself. Wow. So the point being, guys, you think you can separate these behaviors or these misbehaviors

from your lack of success in your money and your career, and you can't. They're the cause. It's all intertwined. They're the cause. That's how it works. Yeah. So you're not going to win if you keep misbehaving. I'll just leave it at that.

If you keep running from your life. Yeah. Don't outsource. Wow. That's good. I like that. That's a good word. Don't outsource.

This is The Ramsey Show. For a lot of you, last year was another year of just trying to survive. But you don't have to live like that. You can have confidence in your money and your future. So if you're tired of being stressed out all the time, you can decide to make a change. You can follow a plan that works. For almost 30 years, Financial Peace University has helped millions of people take control of their money. You'll learn our proven plan to save money, pay off debt, build wealth, and give generously. Watch FPU on demand or get plugged into a class for encouragement and support from other people. You don't have to face another year of stress and worry. You can have confidence

in your money. FPU is only available with a Ramsey Plus membership. Start for free by visiting ramsaysolutions.com slash FPU. That's ramsaysolutions.com slash FPU. Dr. John Deloney, Ramsey Personality, is my co-host today. Open phones at 888-825-5225. One week from Thursday, just nine days away on January the 13th. We have a huge event called Building Wealth in 2022. The event is sold out. Over 1,500 people will be joining us live in the audience. And, of course, in addition to that, we're going to offer it now since it's sold out as a free live stream.

And over 60,000 of you have signed up for the free live stream. It's going to be me speaking about wealth building in 2022. Rachel Cruz will be with me. George Camel will be with me. And we're going to talk about not only some of the things that are going on out there in the real world today, like what is the real story on crypto? What is the real story on nothing down real estate? What's the real story on NFTs? What's the real story? And what's the real story on nfts what's the real story and what's the real story on how to really really build wealth and we're going to unpack that for you and you really ought to tune in again it's a free event this next thursday night one week from tomorrow for most

of you january the 13th don't miss the opportunity If you want to register for the free live stream, which is the only way to watch it, go to ramseysolutions.com slash wealth. ramseysolutions.com slash wealth. And of course next week is the week we also launch the new book, Baby Steps Millionaires. And you can still get it on pre-sale at Ramsey Solutions while you're

there at $20. Andrea is with us in Denver. Hi, Andrea. How are you? Hi, good. How are you? Hi, good. How are you? Better than I deserve. What's up? Thanks for taking my question. I'm a little nervous, so bear with me.

No troubles. So my husband and I started Baby Step 2, and since mid-October we paid off $15,000 on one debt, which is my car. Very good. But the Baby Steps have caused us to look at our mortgage. And we realized that we're just over that 25% mark, but on a 30 year. And even before this, he and I have been going back and forth and we just cannot seem to make a decision on

whether we actually want to stay in this house. Um, cause we're a little bit scared of the real estate market, but some of the things that we go back and forth on is we own a little bit of land, which he believes it might be a good investment for development down the road. But one of the other things is we're also 30 minutes away from everything in town. And to make the house what we really want, we would have to put about $160,000 into it. And so we're just kind of stuck on what to do, and I wanted to get your advice. What's your household income? It's $110,000 right now.

Okay, the way you said right now makes me think it's going to change. Yes, he's looking into he's in law enforcement he's looking to promote which would add about twenty thousand dollars um to the income and that would be which would make you easily which make you easily within your 25 percent then um i'm not 100 sure what a 25 would be on a 15 year close enough though i mean you're not going to be far off. So, okay. So then the question comes, where do you want to live and when? Yeah, I hear this as less of a confusion. You want to move and he doesn't. That's what it sounds like. That's a little bit of what's there. Yes. It sounds like it's all of it was there. Yeah, I go back and forth a lot um some days i really want to move and be closer to town

because i'm driving my kids back and forth between school and activities i feel like i'm in the car you know a couple hours every day so the piece of land is uh you own it free and clear no we owe uh 360 on it oh Oh, how much acreage is it? It's 13 acres. It's right outside of a little town that's really developing, really kicked up development. So do you want to live on that land? Like I said, I really go back and forth. No, no, no, no. I didn't ask about it.

It's an easy question. You don't go back and forth because is it closer to town or further from town it's 30 minutes away from our church school and our family what are you now i feel like i'm i'm 30 minutes away from that we have a tiny little town that doesn't so you're an hour out now and this makes you 30 minutes out no you're 30 30 minutes and this makes you 30 minutes out? No, you're 30 minutes out, and this makes you three minutes out. Well, we are 30 minutes away from everything, like our school and our church. Today. But there's a small town.

Today, yes. Okay, what would you be if you were on the land? It is the 30 minutes. I'm so confused. The town, they're both 30 minutes away from everything? No, the town that's developing, it's about five minutes from here, but right now we don't have the school and the church and everything else. So they're just now kicking up development, which is why my husband would like to stay

on it until development comes our way. Are you on the property now? We are on the property now, yes. on it until development comes our way and he feels like he would be a good investment. Are you on the property now? We are on the property now, yes. Oh, that's why I was confused. I thought it was two pieces of property. You live on the 13 acres. Yes.

Oh, crap. Okay. Here's where I'm confused. Move to town. Yeah. Sell it. Why won't you just say what you want to do? Something is keeping you from saying what you really want to do. Well, her husband thinks he's a big-time real estate you just say what you want to do something is keeping you from saying

what you really want to do well her husband thinks he's a big-time real estate developer and she don't want to spoil his dream that is true yes there is a big and she's sick of driving kids through traffic because he wants to develop something that's probably about five years too early way too early and if he had 360 000 in cash to buy it i'd say buy it but he doesn't no you're selling you're in debt sitting or you're playing real estate speculator instead of building a home or everything slows down in this little tiny town out there just goes kaput for the next 15 years and sits and y'all are on a worthless piece of land yeah sell it sell it move enjoy your life

you know like it it sounds easier what's the hang-up anything to do with the 25 issue though yes it's got to do with you don't want to live there and you're trying to come up with math reasons to tell your husband why you want to move is that fair um i think that the 25 thing just made us go you relook everything there you go um okay well it's tight and it's far away okay and and that's on one side of the scale on the other side of the scale is we might make a bunch of money if we split this up into lots someday yeah but you're not real estate developers you're building a family right now and you're in law enforcement don't be a real estate developer move okay it's just there's a lot listen real estate development's a pain in the butt i do a bunch of it it's a pain in the butt you're dealing with

city people and codes people and planning people and oh my god it'll make you want to shoot yourself it's then also there's a rock underneath the drill you're digging when you hear that sound it's 1500 bucks an hour okay so uh yeah i'm in tennessee where there's a lot of rock but yeah yeah this is you're trying to combine too many different things here um you caught that john good catch and trying to use one set of metrics to just say what's in your heart and what's in your heart is you want to move yeah yeah if you bought the exact same math closer to town i'll be okay with it yeah because his income is the life you want his income's going up and you got your life back you're not driving 30 minutes to everything yeah you're um you moved out to the country and uh time to move back to town that's it it's not as much fun as it sounds i moved out to the

country into this nice subdivision but it's way out in the middle of nowhere and i feel like country people my you know when i was a kid country my family and stuff they'd be like we have to get a list because we're going to get you know getting a trip up to town oh hey gotta get ready to go to town about the woods and that's you have to get ready to go you have to get ready to go do something we're going to like going to the market's an event yeah and the fact that i just said to the market makes me feel like that's why i've been there too long you opened your mouth your old man just came out exactly you don't go to the grocery store when you live out there you load the kids up and i'm telling you yeah it's fine there's nothing wrong but i did not

anticipate that part of this last move yeah because. Because that home we had was too much, and it was a great opportunity to sell it. But it was right in the middle of everything. Yeah. I mean, I could just, you know, like fall off the hill of the house, and I was right in the middle of everything. No. Not now. I'm planning my gas station trips.

The only thing I'm close to now is this office. I just come to work a lot. And we all love that, everybody, don't we? Yes, we do. We be sarcastic about working here. Come on, man. I love working here. I love it.

I love every second of it. You just had to do the old job thing. It's just classic. It's a throwback. Oh, my gosh. This is the Ramsey Show. We'll be right back. Dr. John Pelloni, Ramsey Personality, is my co-host today. Open phones at 888-825-5225. Maggie and Curtis are with us in Cincinnati.

It says on my screen, you guys are debt-free. Congratulations. Thank you. Welcome. It says on my screen, you guys are debt-free. Congratulations. Thank you. Welcome. How much did you pay off? We paid off $63,989. Excellent. How long did that take?

15 months. Wow. And your range of income during that time? We made about $90,000 and ended at $100, 100. Cool. What do y'all do for a living? I am a skincare and beauty specialist for a major cosmetics company. And when we started our debt-free journey, I picked up freelance makeup artistry. And I also stay at home during the day with our three kids. Cool. Good for you. And I am a plant supervisor at our water treatment plant here. Very good. You have the best skin of any of you

and your co-workers, don't you? That's incredible. Oh my gosh. All right. So what kind of debt was the $64,000? It was credit card debt and student loans. Okay, all right, so kind of normal. No car payment? No car payment. That's good. Luckily, those are kind of old and have been paid off for a while. I got it. Okay, all right.

So what happened 15 months ago that started you guys on this Ramsey journey? Yeah, so we knew a few people who spoke highly of Financial Peace University, and so we actually attended one at a church a few years ago, and Curtis was the one who got hooked on it, and it really got to the point where I thought you had moved into our house, Dave. I mean, your podcast was on 24-7. I'm sorry. We were at home in the car cleaning. You were on. He's read every single book. I mean, it was literally like you were a roommate, but you were living rent-free. Your roommate from hell, though. And so during that time of him being all in with it, I actually had some debt that he did not know about. So yeah, we really weren't making much progress. And so I had been hiding some credit card debt from my past. And I thought I could handle it on my own. I saw it as my problem to

deal with. And I was embarrassed about it. So once I became honest with him about it, we were able to work as a team, track what we were doing in every dollar. We were winning with the debt snowball. The magic really started to happen, and 15 months later, here we are. I can see, if you're hiding that, how me being everywhere on every coffee table, you could really resent Dave Ramsey. Yeah, yeah. I don't blame you i understand that so how much credit card debt were you hiding uh it's about 30 000 whoa from from uh how long have y'all been married so actually it's our um 10 year anniversary today okay happy anniversary so you've anniversary. So you've been hiding this inside the marriage for a long time.

Yeah. Tell me about the conversation when you finally came clean. What was that like? That had to be so scary. That had to be scary. Yeah, it was hard. He knew about some of it, but I just wasn't honest about the amount, how much it was. So he saw that we were making payments on the credit

cards, but he didn't know that it wasn't paying the balance down. And so I was trying to pick up what was left of it. And I just, I couldn't keep up with it and started to notice just my, my attitude was different just around the house and around him and, you know, any conversation about money I just like ran away from. Secrets will take your soul, right? Yeah. Yeah. So I think reached a breaking point and it was a really hard conversation, a lot of tears, but happy we did it. Good for you guys.

Curtis, what's it feel like when your wife sits down and says, I have $30,000 worth of credit card debt I've been lying about? It knocked the wind out of me. When we first, after FPU, when we started on this, I could kind of tell she was holding back for some reason, and I couldn't figure it out. And I think after we paid off a credit card that I did know about, and I was kind of excited about the progress we made and the extra money we could snowball into the next debt that's when she broke down and it all it all came out and uh it it took a couple weeks to kind of recover and and uh kind of go from there and

actually devote ourselves to the plan and her actually finally being all in with the plan yeah and that was maggie carter doesn't sound like the kind of guy that blows up when you got this information he just kind of looked at you sad yeah he he's a man of few words but uh i don't want to make him angry okay was he angry that night oh yes yeah okay okay well we we always we say around here you get to a point where you can't you can where you can't just do away with what happened yesterday. All you can do is deal with the moment right now and deal with what tomorrow is going to look like. And so it took a long time, and I wish I hadn't got there, but I'm proud of you for saying enough is enough.

I got to tell you, I admire your courage, Maggie, not only to sit down and do that, but also to tell the story right now. Yeah. Because it's so valuable. You don't know how many people you're helping at this moment telling this story. Untold. Because it's somewhere around 30% to 35% of spouses are hiding debt from their – that's one out of three marriages are hiding debt. And it's just – it eats your soul up inside. It eats your stomach up.

You walk an ulcer, and Curtis can't figure out what's wrong. Why can't connect? Why is he failing as a husband? Why can't get this moving? Why this relationship thing is not working? And then she comes clean and goes, oh, now I understand. I may kill her, but I'm going to understand. And then fast forward, and now you're completely debt-free.

What does that feel like? You did that together. Wow, so powerful. Yeah, I mean, it feels incredible to just be able to, you know, make purchases and not have to worry about it. I mean, Curtis, right afterwards when we made the last payment that week, he was like, man, I feel a little bit taller. And no joke, tons of people started commenting at just how tall he looked. I felt like I was standing two inches taller. Wow.

You were. Literally. Well, you're not carrying all this $60,000 around on your back. And you're not carrying around the separation in your marriage. You're together, and you've accomplished this great goal together. Man, what a cool story. And a 10-year anniversary. Woo-hoo!

I love it. You guys are a success, man. Well done. You're both incredible. Okay, so how much does the makeup artist thing pay as a side gig? Did you do good with that? Yeah, so that was where the freelance makeup artistry that I was doing, where we had that jump in income.

So that $10,000 came from that. Okay, wow. So you do well doing that okay not a bad not a bad side gig to have if you can get the work covet has messed up a lot of the event things out there obviously and so a lot of people aren't in the in that world that do anything around production including makeup um aren't haven't had the work that they used to have and uh I know we had a lady in here that they were doing a shoot, and she said she hadn't worked hardly at all, and she was happy to get the work to be in here. And so very cool.

Congratulations, you guys. Wow. What do you tell people the key to getting out of debt is? So I think the biggest key, and we kind of talked about this earlier, was once everything was out in the open and we were actually working together, she wasn't holding back. I really think that was a huge key, and our marriage is better because of it. Sure. and personally i uh like she said i listen to the show all the time anytime i hear one of your quotes or sayings or bible verses i actually have a huge list in my phone and sometimes i'll look to

that for motivation that's cool i'm honored thank you we're going to send you a copy of baby steps millionaire that's the next chapter in your story. And, of course, a copy of Total Money Makeover so you can disrupt someone's life. $64,000 paid off in 15 months, making $90,000 to $100,000. Maggie and Curtis, I'm so proud of both of you. You're amazing. Count it down. Let's hear a debt-free scream. Three, two, one.

We're debt-free! Yeah! What a great story. I love it. Neat people. It's awesome. This is the Ramsey Show. Thank you. Dr. Chondaloni Ramsey personality is my co-host. Open phones at 888-825-5225.

Harrison's in Boone, North Carolina. Hi, Harrison. Welcome to the Ramsey Show. Hey, Dave. Hey, Dr. John. Thank you for taking my call. Sure. What's up?

Yeah, so I'm pretty dead set. I'm trying to open up a gym in my town this year. I've got about $300,000 set in investments and savings. I'm 24. I'm totally debt-free. I have no credit card debt, no student loans, no car payments. Where the devil did you get $300,000 at 24 years old? Well, I've been working hard. And when I was a teenager, I actually made some really smart investment decisions. And on top of that, you know, my grandma passed away probably a year and a half ago, and I got about $50,000 from that. But everything else has just been plotting and scheming along the way, honestly. Wow.

Good for you. Amazing. That's mind-blowing. Way to go. I'm so proud of you. Thank you. And so you're going to open a gym. What are you going to spend to open the gym?

Yeah, so right now I have a budget of $100,000, but that comes down to my question. My question right now is, should I bite the bullet and sell off some of my investments and pay that capital gains tax, or should I borrow against my current investment assets and pay that borrowed money off as soon as I possibly can? You should use the money from your investments investments or you should not do the deal. Okay. There's two benefits to that.

There's three benefits to that. Benefit number one that you don't see coming, and I saw it coming because when I was your age, I went deeply in debt buying real estate, became a millionaire by the time I was 26, okay, and then lost it all because i had too much debt um so uh uh the the benefit that you don't realize and i didn't realize it until i was in my 30s because it was before then before i started doing it when you start doing a business investment with money that you place an emotional

value on that's your investments it's emotional for you to pull $50,000 or $100,000 out of those investments that you've worked your way so hard up into. Would you agree with that statement? Yeah, I would. Yeah, here's what's weird. Here's what's weird is you will get 20% to 30% more purchasing power using your money than you will borrowed money because you're a little bit pissed about using it. It hurts more to use your money than to use borrowed money,

so you're more careful and wise with it, and you'll get a better buy. You'll go, you know what? I don't need that piece of equipment right now. Let's find out if this is going to work. I'll do that in my phase two. And by the way, you do need to open this gym in two phases. You don't need to just open it like you know what you're doing because you've never done this before.

Because some of the things you think are going to work aren't going to work, and I don't want you to spend a bunch of money on them until you've operated the gym a little while. Yeah, understood. Right now, I also work three jobs right now. I'm a full-time realtor, and then I have two other side jobs that bring in some extra cash on top of that. And I'd like to still be doing real estate as often as I can

while I'm operating the gym. So I will kind of have those two means of income coming in uh which is kind of the entire reason i thought about potentially borrowing the cash in the first place and i would have a mean to pay off quickly nope if you're not willing to put your money in it don't do it yes sir it's a commitment thing man so number one is you're going to be wiser with the money number two is you're lowering your level of risk, and your potential for success is increased on the gym because you don't have the strain of paying the note.

You're 24. You made $300,000. That's unbelievably awesome. I love it. I'm happy for you. I'm proud of you. If you burn $100,000 of it and you screw this whole thing up, your life ain't over. It ain't even close to over. You still got $200,000. You still got a wonderful thing proud of you if you burn 100k of it and you screw this whole thing up your life ain't over

it ain't even close to over you still got 200 grand you still got a wonderful thing ahead of you and you still got that head on your shoulders which is actually the secret sauce uh yeah you're right i couldn't agree more and with a hundred thousand dollar investment that's going to buy you about seven dumbbells these days right maybe yeah eight eight dumbbells with the price of gym equipment these days yeah it's probably difficult to get this thing funded um real difficult yeah yeah i really would ease into this i would open it uh with a minimal version one that with a plan that at six months i'm going to take it to version two and at six months more i'm going to take it to version three as a proof text meaning i prove out some of the systems processes marketing that you're going to use in this thing

because opening a gym in a in a covet environment is a uh it's a high risk environment man and buying it now and opening it in four months is going to put you behind the curve when people start even joining gyms right so is this something you can put off for a year, save a little bit more money, or whatever that looks like? But this is learning the business. What percentage of people are back? What percentage aren't in your area? I'd say my guess is Boone's pretty open.

It's probably like our area. We're completely open as if nothing's going on in our area. But, you know, the fear porn that's uh surrounding corvid covid that's out there it's being hammered out of dc and being hammered in the media because it's really good for the media to scare the crap out of you all the time helps their ratings it's kind of like tornado warnings right um and so yeah you just you know you you got all that that's in business environment you're operating in and you don't want to add risk to that with debt. And you're in a high-risk space you're going into.

I mean, the number of gyms that open and fail is almost all of them. In a good year, you're in a high-risk space. Yeah, it's like a restaurant business. It's a tough business. The last thing I'll tell you is this. I understand your reasoning that you want to run the gym and stay in the real estate business. Running a business, starting a small business and running it that has a lot of hours of open to the public is going to require your presence. It's going to require your focus.

So I don't think you're going to be doing a lot of real estate in the year you open the gym. I think you're going to be doing a lot of gym. I think you're going to be there a lot of real estate in the year you open the gym. I think you're going to be doing a lot of gym. I think you're going to be there a lot. You're going to be sweeping the floors. You're going to be setting up the chairs and resetting the dumbbells and sanitizing stuff. And you're going to be doing all, you're going to be working your butt off, man. And, you know, if you want to be in the real estate business, be in the real estate business. But anything with two heads is a monster.

Bifurcating your focus is a good way to cause failure. So I'm going to recommend you plan on doing very little real estate until you get that gym up and running, and it's making so much money that you can afford to put an operational manager in there where you don't have to be there all the time. But you can't do that until you get the thing running. It's up to you. This is your baby.

You better rock it. And pay cash for it or don't do it. Thanks for the call open phones at triple eight eight two five five two two five dr john deloney is here we're talking relationships we're talking money john this is uh um you know hey uh let's send him a copy of uh if he's still on the line i think he is send him a copy ent of Entree Leadership, our playbook on how to start and run a small business, the way we run this one here, how we've grown this from a card table in my living room to where it is today. So this whole thing of a guy that ticks like that that's 24.

Isn't that amazing? That's pretty cool. Yeah. He's a high-performance guy. Most 24-year-olds so good we don't know what capital gains are yeah yeah and uh uh but he's running about three different angles here at all times and he's done something with the investing i didn't get into what it was that that worked um the danger having been that guy because uh i'm a bit of a math math is my thing you know and so uh i was that guy i was way

ahead of the curve when i was his age uh thus i was a millionaire by the time i was 26 and i had you know hundreds of properties and so forth done probably today i think i've owned over 2 000 pieces of real estate in my life so i mean i was early uh adopter or early uh whatever performing or beyond my years or that kind of thing in the early days and uh but there's something going on with that guy that uh he's not only got an abundance mentality but he's just gone there's an extra motor running there yeah and the challenge there is to not mistake your past success for invincibility. Hubris. Hubris.

Always stay every new project every new job you start over with the humility at square one and build it back up. Yeah. You're learning

something new every time. Yeah it's going to take twice as long cost twice as much. It may be a hundred thousand

dollar lesson that he learns on this one and then you pick it up next or maybe he makes a million dollars and crushes it man. Maybe he becomes

the next whatever chain of gyms. It could happen. I hope so for him. Yeah, absolutely. That puts this hour of the Ramsey Show in the books. I'm Dave Ramsey, Dr. John Deloney. Ramsey Personality is my co-host. Have a friend or family member that needs a daily dose of Ramsey advice in their life?

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