The Ramsey Show - App - Straight Talk On Life and Money for Millenials and Beyond (Hour 2)

Episode Date: May 22, 2020

Chris Hogan, John Delony, Debt, Relationships Tools to get you started: Debt Calculator: http://bit.ly/2QIoSPV Insurance Coverage Checkup: http://bit.ly/2BrqEuo Complete Guide to Budgeting: http://bit.ly/2QEyonc Interview Guide: http://bit.ly/2BuGnZE Check out other podcasts in the Ramsey Network: http://bit.ly/2JgzaQR

Live from the headquarters of Ramsey Solutions, broadcasting from the Dollar Car Rental Studio, this is the Dave Ramsey Show, where America hangs out to have a conversation about your life and your money. I'm Chris Hogan, filling in for Dave this hour, and I'm excited to be with you. And I'm joined in studio by one of the newest Ramsey personalities, Dr. John Deloney. John, how are you? Outstanding. How are you? Oh, I'm focused and, Dr. John Deloney. John, how are you? Outstanding. How are you? Oh, I'm focused and not finished. You know this. You know this. That's fantastic. I hope you drank coffee, buddy, because we're about to get it on. You ready? Let's do it.

All right. Well, listen, if you're out there and you've got a question, I want to hear from you. Call us, 888-825-5225. Again, that's 888-825-5225. All right, we're going to go to Texas. We've got Carol on the line. Carol, how can John and I help you today? Yes, good afternoon. I have a 19-year-old son who has Asperger's. He does have a job, and we're having issues with him

just going through his money uh like crazy okay so he's got a job how much money is he bringing in right now so he's very part-time and he gets he brings home about 200 every couple weeks okay okay and right now is there a system for his money right now or is it up to him to do what he wants? Oh, a little of both. So, he has a checking account

which we have some money transferred to the savings account when he gets his check deposited. And then he also has set a limit on his check card a per day spending limit. Okay.

But that's about it right now. Okay. And Carol, for people out there that are unaware, explain exactly what Asperger's means. So Asperger's is on the autism spectrum. It's very high functioning, so he can hold a job and that kind of thing. It's just a group of disorders that they, just like a mood disorder, anxiety, defiance, that kind of thing. But he's high functioning. He doesn't, Asperger's is like autism, but they have friends.

Okay. They're able to socialize. Yeah. I would say this on the money side, and I'll let John speak in. I think first and foremost, a structure is absolutely necessary. We have to have a foundation. And I would identify with him maybe a larger monetary goal that he's trying to save for. Because saving money without a mission, it's kind of boring for someone that's a teenager.

They need to have a goal. Does he have a goal? No. He tells me there's nothing that he needs to save his money for. I told him he doesn't have to spend it just because it's fair. That's right. Well, you are trying to teach him a lesson that some adults can't handle. There you go.

So give him some grace, but I would dig deeper. I think he definitely has some goals. Help him to identify that so he can start to then have an understanding. You know, save money means you get a chance to spend it later. And so just give him some guidance. And I think it's a thing that we teach young kids. You give, you save, you spend in those three categories. And so that's something he can be following right now as well.

Yeah, and Carol, I would tell you, I've worked with a number of high-functioning students in colleges and universities, and I know it's, I'm going to tell you something that you already know, but I want you to know that I appreciate the work that you do because this is hard, hard on a mom, right? Mm-hmm. And the gifts you're giving your son,

it feels like they're bouncing off, and I want you to know that he feels your heart, whether he can communicate it well or not. And Chris is right. I think figuring out a way that you can tie work to incentives, to boundaries. Um, I actually took a call this morning on the show, um, that I'm working on for myself from someone who was, was at a place where the 21 year old high functioning functioning son where they were drawing the boundaries and this was going to be the weekend they had said if you're not working if you're not doing these things then you're going to have to leave and mom

was calling for reinforcements just to let me know that she was making the right decision and so i want to make sure that you protect your heart as you're working with your son because it gets harder and harder especially once you leave the structure of school um whether you do community college and whatnot there too so thank you so so much for your heart for your son i'm an echo chris boundaries are important working with a counselor for you too and your husband and for your kid but also finding ways that they can be successful i know that um for ch that for young people with autism spectrum disorders, the failures feel so much higher. And the wins, though, can feel great, too. It does.

So finding ways that we can plug this young man in for wins is a big deal. It's important. And I'll tell you this, John, you know it as well. As an adult, we can all become impulsive with money. And so for younger people to do it you know that's called part of growing up right and i think you know even for for carol putting the structure in place to be able to help protect her son from himself financially is going to be an important thing to do um and he's not going to like it right and it's hard when he's 19 right he's an adult

it's well he he thinks he is in in is. In Washington land, he's an adult. Well, be careful there, John, because adulthood means you're out on your own taking care of yourself. And so that's a tough spot. But give him some structure. Give him some guidance. And you guys may have to have more parental controls on that account. And I'm sure as a guardian, you are on that checking account with him to be able to help

him. So be careful, because we can do purchasing listen stupid can be done all over the place nowadays you can click a couple buttons and boxes show up at your house uh and so we got to be aware we got to be intentional and know exactly what's going on and why it matters to us when sometimes these young folks with um different learning needs and special needs fall through some of these you know we make these rules and these laws and say, you're 18, you're an adult now. Right. Man, you're not, right? Or mom and dad can't ask questions.

Mom and dad can't be involved in your checking account. Mom and dad can't give off some of the stuff. And so that's where you're going to get those hard boundary conversations, which eventually turn into, if you're going to live in my house, then here's the rules we're going to abide by here. Here's how we're going to handle money together as a family. All right. Listen, we have totally, we're available for social media questions and you can find us at Ramsey Show or me at Chris Hogan 360 or at John Deloney. You can send us in, but I want to take a question from Facebook.

This is from Blair. She goes, do I really need to totally stop contributing to a 403B even if they match it at work or should i just lower it down to five percent so i can still get the match okay bottom line is we got to remember we invest money for the future to be able to have some to spend if we don't save we won't have any but right now during this pandemic we have been hit in a way like we've never seen before so what i've been telling people is that if your job is stable, if your income hasn't been impacted,

you haven't been furloughed or laid off, then you need to continue to do what it is that you've been doing. That's investing 15%. However, if you've had a job loss, if your hours have been cut and reduced, you're gonna have to pause the baby steps right now. You're not gonna be able to make progress until your income stabilizes.

So that's the rule of thumb. Now, it can be hard because when people are chasing down progress and you automatically now hit the pause button, you feel like you're failing and you're not. If your hours have been cut, your income's limited, you're trying to provide for your family. And so it's really important. And John, I tell people just because you pause doesn't mean you're a failure. No. And when you get scared, there's this impulse to go do something the hardest thing to do is to put the computer down put the pin down exhale go outside go for a walk take a deep breath don't sell stuff don't change stuff right yeah no you got to collect yourself don't make good decisions when you're out of your mind when you're scared stay focused people you're. You're not finished. We got stuff to do. This is the Dave Ramsey Show. You know, I get lots of questions about ID theft since it's a huge problem.

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A lot of people, they know that Ramsey Solutions is synonymous with hope. But as you move on and more and more in this new normal and you're trying to create a plan for your money, it's really important for you to have the right information. And so we're going to help. We've got our famous $10 sale on, you can save on 40 of our bestselling books, audio books, eBooks, the envelope systems, everything is all $10 or less right now. And if you're out there right now and in the midst of this pandemic, you've said to yourself, never again, am I going to be stressed out about money? Never again, do I want to feel in a corner like I can't take care of myself and my family.

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Talk about your book. Well, it's out there, John. I've got a couple of them. They know. I've got to help people with retirement, and then the study on the biggest millionaire research we've ever done, over 10,000 of them, everyday millionaires. I don't know when Chris Hogan got so humble. Ladies and gentlemen, these are incredible reads.

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hope. Shop our $10 sale right now. This is something you can definitely use. John, I've been telling people with downtime, you got to be productive. Why not? Right. You have to, you got to do something that's going to help you move forward. And Hey, here's the deal. I do this for a living. I work with people at their lowest when the wheels have come off. I do this for a living and I'm going to be honest over the last 10 weeks 11 weeks I've had my moments I've had my moments where I look around and I've got empty coke cans and cheeto bags and I look at myself I got gummy candy packages out of my pockets I've had my dark moments man and but then that's when you have your community that's when you have your friends that's when you have your community. That's when you have your friends. That's when you've got all these free resources and these discounted.

You've got to turn that spigot off, get with a crew, and then, man, get plugged in. That's it. It's so important. So, listen, you can only binge watch so much stuff. And I got dumber, man. I got dumber from Tiger King. I got dumber. I thought it was going to be so great.

I resisted. I didn't do it. You didn't do it? So I'm only one of three in America, I think, that hadn't seen it, but I'm okay with that. Well, both of your brain cells are left. You can binge watch some stuff, and listen, my grass is tired of being mowed. Okay? It told me no more.

No more. So you've got to do stuff to help yourself. So you get over here to this sale. Again, DaveRamsey.com slash hope. You've got a $10 sale. We can help you. All right. We're going back to the phones out there.

If you've got a question, I want you to call us. 888. We're here for you. Okay? 888-525-PEACE. We're here help you. All right, we're going back to the phones out there. If you've got a question, I want you to call us, 888. We're here for you, okay? 888-525-PEACE. We're here for you. 888-825-5225. John and I are here to help. All right, first up, we've got Brayden in Virginia.

Brayden, how can John and I help you? Yeah, so I'm 33, and my wife's almost 29. And we are on Baby Step four, five, and six. I hope to be done with baby step six in 10 years. It sounds like a long time, but that's our goal. Hey, I'm in my 40s, man. It's a real quick time. Chris Hogan's 111.

It's a real quick time, real quick time. Hopefully not too quick. My question is, I read both of your books, Chris Hogan, and we have a dream of owning a beach house one day. Okay. And we each have a Roth, she has a 401K, and I'm going to have a pension with my job. And we just don't know how much house we could afford if we're debt-free by the time we're ready to buy a house in our future. Okay. Well, here's the reality. You said

you're 33 and 29 years old. What's your all's household income? About $100,000. Okay. So here's the reality, Braden. You and I both know your income is going to grow as you continue to work and move up the career path. But the fact that you guys have yourselves out of debt right now and you're very, very focused, I'm talking to people around the country that are wanting to save for bigger things or bigger trips. I think when you and your wife sit down and talk about it and just come up with a range, right, it's going to be really hard to say that, hey, in 10 years, you're going to exactly need this much. I would say come up with a range that you want to have saved, a range you're looking to spend, and let that be the target.

Now, Braden, you said you read my book. I'm about to check to see if this dream is high definition or low definition. What kind of beach house are you talking about? Well, I did your numbers, and I plan on having an income of like 2.5 2.7 so we were looking for like 750k to a million all right all right how many square feet are you looking for seven how many square feet um i don't like 1500 just like three bedrooms four bedrooms there you go and so you dig into that. I like having that range. And again, you guys are going to be amazing.

I've had people take on extra jobs and to devote that income totally toward the dream of what you're saving up for. So give yourself a range. Be clear on it. And you've got to chase it. It's fun to chase dreams. And I tell people, John, HD, I want you to see it in high definition. Yeah, I always tell folks that you've got to have a picture. And we're using the same thing.

Same thing. You've got to have something that you're aiming for. I often say we think in pictures, but we speak in words. And so me and my wife can sit down and say, hey, let's have a beach house someday. And we're like, let's plan for it. We plan a decade for it. Turns out her beach house was a little bitty shack on uh with you know on this beach over here you're the high maintenance one i'm over here right with my chateau that's right yes i don't even know what that word means but yes i want one

of those and then suddenly we've worked for the same goal for 10 years and we found ourselves 20 miles apart so get in hd with your wife paint a picture together and man you can you can get hyper focused and you get you'll you'll come up on that goal quicker when you're both aiming for the same thing. That's fantastic. All right, next up, we're going to line four. We've got James in Washington. James, what's on your mind for John and I? Hi, John.

Hi, Chris. Hey, James. So about six months ago, I started my first kind of executive level job. And in the past three months, I've had to lay off around 200 employees. You say welcome to executive leadership, right? Yeah. So it's about 30% of our workforce here. And it's been really difficult for me emotionally because I feel a responsibility as a leader of this organization kind of for our current financial position. And I just need some guidance, you know, from other leaders on how to process these layoffs. Is this just like, you know, this is just what leadership looks like and you've got to make these difficult decisions.

Should I bear the burden of this? And just kind of getting advice on it. Well, I'll let John speak into the mental side of that. But I can tell you this from the leadership side, it should never become easy. You're dealing with people that you care about. And you know, each individual has a family that they're trying to provide for things like this hurt. And it's one of those things that will stick with you. And so I'm proud of you for reaching out to talk about it. Because internally, you see the faces of those individuals. And, you know, I would tell you, you know, depending on the level of relationship that you had with them, it's okay for you to reach out to them. It's okay

for you to check in on them and to provide them with resources as much as they can from a corporate standpoint. I know, you know, we had smart dollar that was available for people that had to lay off people or had to let people go. And SmartDollar is our corporate program to help people walk through and understand how to deal with their money. And so you, in your mind, you want to do what helps give you clarity but also some peace of mind. Yeah, and I got to echo what he just said, James. I hope it never, ever feels good to take somebody's livelihood away. Even if they're a jerk and you need to fire them, I hope that that always sits in your heart a little bit.

And then when you get things like this that are out of everybody's control, they show up at your front door. I love the phrase, not by your hand, but in your lap. You didn't cause this, but it landed in your lap. So a couple of things you mentioned. Yes, this should hurt. No, you should not carry this around. And one of the things that I've worked with executives over the years that carry these bricks in their backpack, and it will bury you.

It will bury your family. It will crush everything around you. So you've got to get a mentor, a counselor. You've got to be brave and talk to somebody who you can offload these bricks with and keep you whole and keep your head in the game so you can continue to do the work to take care of these people. That's exactly right. Life is not meant to be done alone, people.

Find somebody. This is The Dave Ramsey Show. Folks, I love telling you about well-made, well-thought-out products. Today, I'm talking about Grip6 belts. I don't know about you, but I'm not a fan of traditional belts. They never fit right, and they're uncomfortable. Grip6 belts are unique. Owner BJ designed a truly modern minimalist belt made of high quality materials with no holes, no flap, and no bulk. And the buckles come in really cool designs and are interchangeable. I personally own these belts in different styles and talk about

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We've got friends here from all around the country. We've got people from northern Kentucky. There's a big guy out there. He made me look small. We've got people from Missouri. And we've got Cincinnati as well here. And I've got a little fan out there, Gracie, who she didn't want to come in and do the show with us. But she had my

book and I signed it for her. So listen, if you are near us, I want you to come visit us. Come to the lobby. Come. You can watch the show on the glass. Melissa will take care of you over at the Baker Street Cafe as well. We would just be honored to have you come see us again. You can set that up and schedule it. Go to Dave Ramsey dot com slash visit. Now, John, you have you're the most the most recent personality to join the team, and we're still putting you through all kinds of... Hazing?

That's a strong word, John. That's a very, very strong word. We'll call it a process. But you have been putting out some really good content in this time where people are struggling mentally and dealing with things. One of your most recent featured articles on DaveRamsey.com is dealing with disappointment of canceled plans. Talk to me, buddy. Yeah, I think everybody really in the world, but in my sphere in the United States, we all had a picture of what the spring of 2020 was going to look like.

I got all the roaring 20 emails when it turned over in January. It didn't look like this, right? And what our tendency is to do is to have something canceled, whine and complain about it, be frustrated about it, and then race to the next thing and race to the next thing and race to the next thing. And now that pockets of the country are starting to open up, I'm hearing just this idea we're going to race back to the highway, race back. And I want to tell everybody, I've been doing crisis work for years. I've sat with people in the worst tragedies you can imagine. You've got to acknowledge what you had the picture of in your head.

We talked about it last time. You had that HD picture in your head. If it changes, I don't care how big it is, how small it is, you've got to acknowledge that it was there, and then you've got to paint a new picture. Otherwise, you just start spinning and spinning and spinning, and you try to mush down that grief with busyness, more stuff, more activities, more nonsense, and you've got to process it.

And then you've got to paint a new picture and go get it. Yeah. No, that's a good thing because I have a tendency to pout. Oh, man. I have a tendency to eat gummy candies. Is that what it is? Yes. All right.

That's what I can say on the radio. We've got to do better. We've got to do better. We've got to do better. But you know what? I like what you said about acknowledging it because it can be painful and frustrating that's right um and so i like painting the new picture again get over check this out uh again go to dave ramsey.com uh john's featured article is there along with several others and he's also got videos on youtube uh and there's this whole youtube world man oh i didn't

know anything about it it's big welcome to the 21st century it's so good my wife tells me i was born in the wrong century all the time you were born in the 60s or something i didn't know anything about it. It's big. Welcome to the 21st century. It's so good. My wife tells me I was born in the wrong century all the time. You were born in the 60s or something. I don't know. But listen, he's got some videos out, what's happening in our country. Let's talk about it. Why communication is not connection. And are you giving other people permission to hurt you? Whoa.

Again, over on YouTube and you can look for John on the website. But you can also send him a question. If you're out there and you're dealing for John on the website, but you can also send him a question. If you're out there and you're dealing with some mental questions or mental struggles, email him at AskJohn at RamseySolutions.com. Again, AskJohn at RamseySolutions.com. We're excited to be able to help people.

That's what we do here, buddy. I love it. Love it, love it, love it. Let's get to the phone. I've got, looks, Sunita is on the line. Sunita, how are you? I'm wonderful. How are you today? Oh, I'm focused and not it, love it. Let's get to the phone. I've got, looks, Sunita is on the line. Sunita, how are you? I'm wonderful. How are you today? Oh, I'm focused and not finished, young lady.

How can John and I help you? Yes, a little background. Self-employed for over 20 years, and starting next month, I will be putting myself on payroll within my business. I own a salon and a beauty supply. My question is, how do I determine how much to pay myself? And I am in baby step two. Okay. Now, Sunita, you said you've been self-employed for almost 20 years? Over 20 years.

Over 20 years. I'm sorry. Yes, ma'am. Let me get it right. How were you paying yourself before? I just paid my business expense and everything else going to my personal account. Okay. All right. So do you have team members or employees in your business? Yes. 1099 employees.

Okay. So you're asking how do you pay yourself, but you've been paying yourself. I don't understand the question. As far as payroll, I was going to actually start paying into my taxes um as far as bi-weekly oh okay check through my business she's going official chris yeah yeah okay i'm going official yeah well what you would do is again you're paid off the bottom line less expenses so it depends on how much revenue is coming in and so you know for you to be able to look it's going to be easy for you at the end of the month to be able to look at that and understand exactly what's left, right? After

all your expenses and what you're paying yourself. So to be able to do the taxes will be real easy because you've got that dollar amount sitting there. Right. So that's just going to be, are you using a bookkeeper or an accountant at all? Yes, I do have a bookkeeper. Okay. Okay. All right. So that, I mean, that's the so that's going to be the best route to go. How many team members do you have? Two. Okay, and they've been with you how long? Less than a year.

Okay, so during this COVID situation, obviously your salon hasn't been open, correct? No, the salon was closed down for two months, but I did keep my store open for pickup services. Okay, see, you pivoted. And for pickup services, what were people able to get? Braiding hair. Okay, so you're saying I'm never going to be a customer of you is what you're saying. That's hair jokes right there. I mean, you could come up with a scalp treatment or something for me. But I'm proud of you for pivoting because that's what a lot of businesses, John, have had to do. There's a book out there called Who Moved My Cheese? And with that book, what it talks about is when life changes, if we don't change with it,

if we don't change and start to understand that the cheese has been moved, our target has moved, we've got to adjust the plan. And it's kind of what you were talking about, where you've got to paint a new picture for yourself because the world the world burned years up for whatever reason it doesn't exist anymore and there's so much energy you can spend trying to get the old one back wandering around out in the woods without one yeah man it's so much easier if you will sit down do the hard work come up with a new plan go get it that's fantastic all right let's get back to the phones. I've got, looks like Jason is on the line out of Missouri.

Jason, how can John and I help you? Hi, guys. Thanks for taking my call. Big fans. Sure. So this is actually more for Dr. John. I got a question for you. I got my PhD in DMV a long time ago, just like Dave. And I busted my butt to get out of it. We're in step four right now.

Congratulations, man. Congratulations, Jason. Thank you. My sister is in the same path, except she's much worse on the DUMB side. And when I try to talk to her about trying to get on a good path, budget, everything that Dave teaches, baby steps. It's, well, I'm kind of doing that. I've had these classes before.

I'm kind of doing it. I was like, but you're not. At what point? She doesn't want to hear it. I've tried to talk to my parents about it. They kind of said, it's not your business. So I guess at what point do I, I mean, I don't stop caring because she's my sister right but at what point do I say that's the

you know move the dust from my sandals and keep going yeah I don't even think you have to draw it like that because I don't think you ever want to move on from loving your sister I think your way of showing love is saying let's do things my way which happens to be Dave's which happens to be the right way

but instead of giving somebody information, just being present and saying I love you, and you're my sister, and I'm not going to give you advice that you're not asking for. I'm not going to tell you what I think you should be doing in your life because you're not asking me. I'm just going to be your brother, and I'm going to love you. Now, you're going to have boundaries, right? If there ever comes a situation where she needs to borrow some money, you may already decide that now. You're not going to get it here.

But I will love you, and I will laugh with you. We'll share meals together. Most people most of the time need our presence and our vulnerability and our hugs, not our information. Sure. And most people making dumb decisions right now, they know. They know, right? They know. sure and most people making dumb decisions right now they know they know right and i would say jason also one of the best things you could do is live it meaning you continue to work through

the baby steps you know there's just there's a faction of people out there that you can tell them and there's others that need to see it and so when you're taking a vacation or when you are upgrading your home or whatever it can become apparent that people eventually, she will ask, well, how did you or what did you? And then you get a chance. I've got family members that don't follow the principles. Dave has family members that don't follow the principles. So it's okay.

Just be you. And as John said, love on them. And when they have a question, don't try to preach. Just answer the question and move on. Plant the seeds and watch what will grow. You want to keep the communication open and available. This is the Dave Ramsey Show. Folks, since you're spending more time at home these days, why not make the most of it? Now, I know not everyone has the means

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Go to Blinds.com to take advantage of this week's special offer. Rules and restrictions apply. Hello, everyone. You are listening to The Dave Ramsey Show. I'm Chris Hogan, filling in for Dave this hour. And I'm joined in studio by John Deloney. And we have been taking your calls and talking about life. We're talking about money, whatever you have going on.

We are here for you. You can follow John on social media at John Deloney. And you can find me at ChrisHogan360. We are here to be able here for you. You can follow John on social media at John Deloney, and you can find me at ChrisHogan360. We are here to be able to help you. We have about the same number of followers, give or take 300,000 or 400,000-ish. It's good. Hey, we're out helping people, John. That's right. Okay, comparison is the thief of joy.

That's what Rachel Cruz, our good friend, tells us this. You need to read her book again. I've already read it twice. Love Your Life Not There. I've read it twice. All right, here we this. You need to read her book again. I've already read it twice. Love Your Life Not There. I've read it twice. All right. Here we go. We're going to the phone lines.

If you're out there and you've got a question, call us. The number is 888-825-5225. Again, that's 888-825-5225. We'd love to talk to you. All right. First up, we've got Rob. Rob in Tennessee. Rob, how are you?

Great. How are you guys doing? Oh, we're doing great as well. How, how are you? Great. How are you guys doing? Oh, we're doing great as well. How can we help you today? Well, John, in the first hour, John was talking about how people handle the COVID situation and what they're doing. And I wanted you guys to know that I found you guys on YouTube. So first time here, first time caller, and I'm really excited about it.

And I want to give you a little bit of quick history and then a couple of questions I have for you. Sure. Thanks, Rob. In May here this month, I turned 66, so I am in full retirement. My wife will turn 66 in December, so she'll get full retirement, and she'll get half of my income. That's going to combine us to about $45,000 a year combined. So we don't have, we have about three months left on our car payment. We have a couple thousand in medical bills. I just wanted to get with you guys and see what you'd recommend. I did some stupid things, as you all were mentioning earlier in my life, and I want to get on track

and make sure that I'm doing the right things in retirement. And that's when I found you guys, and I wanted to get advice on what you guys think I need to get from you to get this going and make sure I'm on the right path. I have, like I said, medical bills. We have a house note, and hopefully I want to get that paid off. Got rid of one car. My wife has huge student loan bills.

That's the only thing that we're going to be facing in debt after we sell our house. How much student loan debt do you all have right now, Rob? She has $60,000. Okay, let me help you with your pronoun. How long have you all been married? 45 years. Okay, yeah, your pronoun's broken. When I asked about the student loan debt, you said she has.

Yeah, no, no, no. You need to speak French, my friend. We. Sorry. Yeah, yeah. Let me help you there. I don't want you on the couch, Rob. I want you to be able to.

You're right. You're right. I believe that. Yeah, so let's try one more time. How much student loan debt do you all have? We have around $60,000. All right. Fantastic, my friend. How much do you owe on the house? We owe about $87,000. And according to Zillow, it's worth about $115,000. It's a condo. So we've downsized and trimmed down in preparation for what we're doing and about to do.

Okay. Well, I'm going to tell you this on the money side. I like the fact that you guys are being intentional and getting out of debt. I would encourage you to also in retirement, a lot of people forget that you've got to continue to invest. The goal is to grow money, right? So you want to continue to invest, be intentional, but here's the other side. You've got to play

defense. Sometimes we have to be adult enough to tell wants they've got to wait. And so be careful of going on and bringing more debt in just because you want it real quick. I'd save up and pay cash on the financial side if you're not working with the smart investor pro i want you to get connected to one of those so they can look at your portfolio and help you and you can do that by going to davramsey.com john what tips would you give him first off rob listen here i've taken a lot of calls today. I was here before God himself woke up this morning, taking calls, planning for another show. You are my favorite

call. You've brought me joy today because you are 67 and you are not cashing it in and you are not saying I'm too old to start over and do this right. Everybody in the United States of America needs to have a friend like Rob who says it's never too late. I'm going to get this right. So that's number one. I want you to hear me say that. Number two, you're entering a phase that most people have what I would call a picture for. But you and your wife have probably used words, meaning you've been waiting for a retirement, and you've been talking about when we retire, we retire. And you used a number. Y'all know the number, but she's going to have a picture of what retirement's going to look like. You're going to

have a picture of what retirement's going to look like. So what I want you to do is I want you to sit down with your wife, plan something special around this, a dinner, a hike, something. And I want y'all to literally, like children, get out a piece of paper and a pencil or a pen and draw a picture of what retirement's going to look like. What are we going to be doing when we are 75? As Critch says, what's that picture in HD? Where are we going to be? What's the house going to look like? What are we doing on Saturdays? Paint that picture together and then you can go forward towards it. And if it's part of it's being out of debt, then that means part of it's not going to be going on big trips. And if part of it's going to be, we're going to love each other

and be together. You can do that for free hiking at Radnor Lake down the road here. And then the last thing I'd tell you is we've got this, what I would call this retirement myth, which is I can't wait to work my whole life so that I can get to a point where I have to do nothing. And if you read the research on that, people die within a year, right? And I just made that stat up,

but their health falls apart, they die sooner, their relationships fall apart. Find something to invest in for yourself, whether that's a hobby, a part-time job, helping locally, Meals on Wheels, whatever that is. Don't just quit and plan on doing nothing.

No, you're right. Now, hold on a minute, Dr. Bloom. That year stat, you threw that out there like you quoted it for something. Don't make up stats. That's dangerous. Hey, this is the internet, so we can make up whatever, right? Get people's blood pressure up. Okay, hold on a minute.

All right, but you're right. You do need to retire and move towards something. That's right. It's really important. And to be able to do charitable things and get connected with family, that's a good thing to be able to do. So proud of you. And hey, he found us on YouTube. I mean, that's just awesome.

You have inspired me. Yeah, that's fantastic. And so, again, if you all are out there, if you don't know us as Ramsey Personalities, Rachel Cruz, Christy Wright, Anthony O'Neill, Don Deloney, myself, Ken Coleman, you can find us on YouTube. And we are all teaching different various types of content out there. So you can watch us as well as hear us on our shows. All right, let's get to the next caller. We got Heather in Georgia. Heather, how are you? I'm well, thank you. Well, how can John and I help you? I have a question. Yes, ma'am. I have two jobs, or I did have two jobs. One of them, I took a voluntary leave of absence, and the company initiated unemployment for me.

Okay. So I'm full-time at one job. I'm receiving unemployment from the other one. And do I need to, like like are they going to ask for that back should i apply to my baby steps did i keep it in a money market maybe make 100 bucks until they ask for it back okay was it your part-time job that you were furloughed from or your full-time job my part-time okay and so you were furloughed and did you apply for unemployment on that part-time job? No, the company that I took the absence from, they, they initiated it. Oh, okay. They initiated it. So you were, you were laid off, uh, with that unemployment, you should be fine. Uh, that's a,

that's a, because you were released from that. Uh, How are you feeling about not being with that company? Are you frustrated? Are you heartbroken? Are you relieved? No, I'm fine. I'm actually only going to be off for nine months, and I kind of just, it's an airline, and so I do it for the benefit. Gotcha.

So I'm fine. I'm fine with just working my regular job. Okay. In fact, I'm actually getting more unemployment than I was ever making when I was working. Right. And did you say you're on Baby Step, too? Do you have debt you're still attacking? Yeah, I have some stuff in my collection.

Okay. Just getting care of. Yeah. Well, I would definitely still be intentional in working the Baby Steps. I mean, again, you know, John, this is something I'm hearing a lot of people. They're telling me, Chris, you know, and business owners, they're wanting to open. All right. But we got governors out there that are blocking the opportunity with that, which is frustrating to me.

But if they're open, they say, I've got some employees that are making more on unemployment. I know. Than they do work in their job and it's just math you taught me that it's just it's just well it's also this there's a wake-up call coming frustrated because this extra 600 that's happening ends in july 31st okay so then that means people are going to go back and just have regular unemployment now there are people talking and there's trying to build a heroes Act trying to be passed to add additional. But I'm going to tell you something. We've got to get this country back moving.

We've got to get the economy moving. And it's not an accident that not only is there a math problem, but there is the mental health problem. And when you see anxiety, you see depression, go back to work if you can. Find the little wins. Get up for something every day. Go out and get a job down the street if you've got to. But go to work, and that's going to lift your spirits. It's going to lift your heart, your mind, your soul. You've got to make some stuff happen.

Come on, man. Listen, I want to thank all the callers for taking the time to call in. Thank you for tuning in. I want to thank James Childs, our producer, associate producer Kelly Daniel. And thank all of you for listening. This has been The Dave Ramsey Show. Hey, it's Kelly, associate producer and phone screener for The Dave Ramsey Show. This episode is over, but if you heard about an event, product, or service and didn't have a chance to write it down, don't worry.

We list everything you've heard about during this episode in the podcast show notes or head to DaveRamsey.com thanks for listening