The Ramsey Show - App - The Proper Way to Avoid a Tax on Gifts Over $15K (Hour 1)

Episode Date: February 13, 2019

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Music Live from the headquarters of Ramsey Solutions, broadcasting from the Dollar Car Rental Studio, it's the Dave 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, your money. It is a free call at 888-825-5225. That's 888-825-5225. Andrew starts off this hour in Birmingham. Hey, Andrew, welcome to the Dave Ramsey Show. Thanks, Dave. How are you? better than i deserve what's up uh basically i'm in baby step two oh

ten thousand dollars on a car i make 20 a year i should have it paid off by december uh should i go ahead i can get about nine for it should i go ahead and sell it now and move on to baby step three with a beater or just ride this out you can pay off ten thousand dollars by the end of the year making 20 i live with my parents. I'm 20 years old. Oh, okay. All right. Well, that works.

What do you do for a living? I'm a teller at a credit union. Okay. What's your long-term career goal to make more than $20,000? As soon as I get out of this car debt, I'm going to go to trade school to be an AV technician. Okay. Okay. That's not a bad idea. When do you want to start school?

I mean, the sooner the better. Well, I mean, you start 10 months sooner if you sell the car. If you keep the car, it delays your starting of don't if you keep the car it delays your starting of the school by 10 months am i missing something no sir you're not either one's fine with me i mean i think that's just that's the weight the the only the only benefit of selling the car is you start school sooner and um if you like the car and you want to just delay starting your trade school a little bit there's no harm in keeping it and paying it off by Christmas and then starting school next January. That's not a bad plan.

But if you wanted to start in May, you'd sell the car now, right? Yes, sir. It's not just moving up and a job that's moving out of my parents' house, too, that I'm trying to get through. And they don't mind me living there right now, but I'd like to start, you know, doing my own thing. That's a good idea. Mm-hmm. Okay. I'm with you on all of that.

So how are you paying for trade school? With cash. Okay. And what's it cost? We've got about two grand a semester. Okay. And you get an associate's degree in audio visual technology or something like that uh yes sir and there's a um i may be able to get a pretty decent job even

without the degree um because there's a company that i did an internship for when i was in high school that may may or may not hire me back i haven't gotten contact with them yet what if they hired you back and paid for you to go through the school while you work for them? Yeah, I'd do that in a heartbeat. Yeah, I think you'd make that phone call today. Then you don't have to delay school. You don't have to sell the car to keep from delaying school, right? Yes, sir.

Yeah, I think if you'll stay with your parents for 10 more months and, you know, you'll be 21 years old, you move out with a paid-for car, and you've got a game plan for your career, that's fine. If you want to accelerate it and do it faster, then, you know, that's the process. So, you know, have at it that direction. But I think you've got a good plan here. Either one of those is fine, but the critical thinking just says, the flow chart on this just simply says,

the only benefit to selling the car is, in your situation, it accelerates how fast you go to school. If you've got a job and they paid for school and you wouldn't have to do that, then you'd be in a position to move out, start school, and still get the car paid off because your income will be going up and you'll be in school and they're paying for everything at the new place. So I like that plan a lot if you can make it happen. AJ is with us.

AJ is in Nashville. Hi, AJ. How are you? I'm doing good, sir. How are you doing? Better than I deserve. What's up? Okay.

So recently we have just bought a house. A house payment is roughly about $2,300. me and my wife are both self-employed uh make about 118k together uh so currently before we kind of get into everything i have ninety thousand dollars right now in savings our debt's sixty nine thousand right now which thirty thousand is in loans fourteen is in a car and $25,000 is taxes for this year. So I'm just trying to make sure we put these money in the correct areas before we go through that $90,000. Where did you get $90,000? Okay, so like I said, me and my wife are both self-employed.

Basically, my checks cover all the bills or just go straight into the bank. So that's kind of how we've been handling it, where I take care of all the bills. She just, all profits of hers go straight into our account. Mm-hmm. Okay. Well, and so she's banked $90,000, and you have $70,000 in debt. Yes, sir. Well, I'll be debt-free by the end of the day.

Okay. So I was a little nervous because I just started listening to you, and we bought this house just under $400 range, but it's about a $2,300 a month payment, and we just want to make sure we're putting things in the correct area before we go through. Well, you've got $20,000 left over after this. After you pay off everything, you've got $20,000 in your emergency fund. And then you're going to get on a

written, detailed budget on every dollar and make every one of these dollars behave. You might be able to bank even more than you've been banking. And you don't need to be behind on your taxes. You need to set taxes aside out of every check. Every time you bring money home out of either one of your self-employed companies,

you need to set aside a fourth of that money so you can pay your quarterly estimates and never be behind again. You don't want to play I'm borrowing money from the IRS by not paying my taxes until the end of the year. That gets you extra penalties, and there's no need to do that. So you need to sit down with a good tax professional and lay out a cash flow schedule where you withhold on yourself to be able to do your quarterly estimates. And I'd be debt-free by the end of the day with $20,000 in my emergency fund. But going forward then, you know, we're going to be very, very careful.

And we continue to bank her, you know, the equivalent of her income out of our overall budget. But not do that and not pay taxes, because I heard $25,000 tax bill in there, and we don't need a $25,000 tax bill. That tells me you're not doing your quarter lease properly. So, hey, man, thanks for the call. We appreciate you joining us. Open phones at 888-825-5225. You jump in. We'll talk about your life, your money.

It is a free call. Karen is on Twitter. Dave, what's the difference between a subsidized and an unsubsidized student loan? Well, typically a subsidized will apply to a government subsidized loan, meaning that the interest rate is not as high because of the government guarantee on the loan. That's typically what it's going to mean. It can mean different things, but generally that's the heading it's going to fall under. Christopher is on Twitter. Dave, I'm interested to know your take on buying a house outright.

Should I rent a cheap apartment and put money aside until I'm able to afford a home outright? Or would you suggest a mortgage but paid smarter? Well, I love the idea of a 100% down game plan. I don't want you to take 20 years to do it. But a lot of people can do that very, very quickly once they just decide to. Cut their lifestyle way, way, way, way, way, way, way down. And pile up a big pile of cash very quickly. And there we go.

And then you'll be there. This is the Dave Ramsey Show. Are high health care costs getting you down? Are you confused trying to navigate your options? Do you wish you could find an affordable, biblical solution to your health care costs? Based on New Testament principles, Christian Health Care Ministries, or CHM, helps Christian families, churches, and ministries join together as the body of Christ to share their major health care costs. Christian Health Care Ministries is the original health cost-sharing ministry. A Better Business Bureau-accredited organization, CHM members share to pay each other's medical bills. It's not insurance. It's Christians financially and spiritually supporting each other. It's what Christian Healthcare Ministries has done for over 35

years. And our members have shared over $2.5 billion in medical bills. To learn more, visit chministries.org. That's chministries.org. Christian Healthcare Ministries is a proud sponsor of Dave Ramsey Live Events. chministries.org. Tomorrow is in Baltimore. Hi, Tamara. Welcome to the Dave Ramsey Show. Hey, Dave. How's it going?

Better than I deserve. What's up? Good. We are just starting the program. We are on week six of FPU, and we are on baby step number two. And we are trying to figure out, we are currently leasing our car for about $549 a month, and the lease is up in three months. We will be getting about $4,000 from our tax return coming up,

and we're just trying to figure out if we should hold on to that money to buy a used car with that, or if we should use that towards our debt snowball. Okay, your lease is up in three months. Yes. Wonderful. And what are you going to drive? We're going to drive a used minivan, probably about a 2008, about $5,000. Okay, but you need the money to buy that, right?

Right, exactly. And so if you put your tax return on the debt snowball you won't have the money to buy that right right exactly so of course you can't put it on the debt snowball of course you got to buy a car okay so we just save that money um until we uh until three months is up yeah and pay cash for whatever you buy, obviously. Absolutely. And leave $1,000 in your account. How much money do you have in savings now? We have about $2,000. Okay.

So you're thinking of putting that four with that, and then that would be six, and then buying something for five and leaving $1,000. Yes. Well, we're on Baby Step 2, so we already have our emergency fund. Yeah, Baby Step 1 is $1,000. Is that included in that $2,000? No, no.

Oh, you have an extra $2,000? Yes, yes. Okay, so that would give you six to put towards a car. Probably wouldn't spend that all on a car. I'd get you just a little beater of some kind, like you said, a $4,000 or $5,000 van, and then put whatever you don't spend on the car towards your debt snowball after you get this deal done. But, yeah, pay cash for a little car, and then let's get your debts paid off

and then save and move up in car with cash later. Okay, sounds good. So save that money after one to three months is over, though, until three months is up then. Absolutely. Okay. Okay, sounds good. Thank you. Thank you. Amanda is with us in Quincy, then. Absolutely. Okay. Okay, sounds good. Thank you.

Thank you. Amanda is with us in Quincy, Illinois. Hi, Amanda. Welcome to the Dave Ramsey Show. Hi, Dave. Thank you for taking my call. Sure. What's up?

Sorry, I'm a little nervous, but I'll try to get right to the point. I am one of five kids, and my parents are into their 60s. They're farmers, and my mom's also a nurse, and they didn't really get the long-term care like you had said right when they turned 60, and they've both had a couple health scares in the last couple years. And so last time I talked to both my parents, they kind of sounded a little defeated, not really sure what their options were. Last time I talked to both my parents, they kind of sounded a little defeated, not really sure what their options were. They acted like the premiums were too high

or I don't even know if they would qualify for long-term insurance anymore. And so I guess my other siblings and I, we were just kind of wondering how to give them advice or if we even could talk to them um how to help them with planning their long-term care and then also how old are they they are about 63 are they in bad health um so at the moment it was uh diabetes and then my dad was um prostate cancer and then my dad was prostate cancer. And then also, they're not really sure what it is with this lung, but the best that the doctors have just called it is Farmer's Lung.

Mm-hmm. Okay. So it's not anything really treatable. It's just more as he gets older, his oxygen will probably diminish a little bit. Okay. Well, I think what you would do is, I think you've

got to get more information than they do too. Anytime I've got a really tough decision in front of me, what I want is I want to explore every possible option. Every option. And once I've gotten every option in front of me what i want is i want to have explored every possible option every option and once i've gotten every option in front of me and i know what you know with our with our exact situation i'm not going to accept just one offer from an from an insurance broker i want them to really talk us through this and look at it what is your parents income um so with the farm and that's where it gets a

little um hazy for us um they don't really talk about their finances to us um now my mom being a nurse i know her salary um is upward i think over 60 she's part-, so she's not a full-time nurse. But that's kind of the other issue we have, too, is they haven't really told us what their plans are, what their will, or anything like that. They started to set it up with the one brother that will most likely take over the farm. And then the other four of us, we just really weren't sure what was going on. And then last we talked to them, they acted like they kind of had given up on finishing their plans. So I know that they don't necessarily follow your plan, obviously, so I know that they don't have a lot necessarily to savings as far as investments.

My mom will have a big deal. Well, you don't really know anything is what it amounts to. And so I think you're going to have to have a discussion with them that you can't help someone who doesn't want your help. Right. I mean, it's not an option. If they're not going to let you in to the discussion, then there's not going to be any discussion. So you can't help them just because they sound defeated. If they're willing to accept help and input, then get in there.

And with the older brother that will take over the farm, let's get the estate plan completed. And then let's get some insurance bids in, and we'll make a decision that's all we got to do um you know but but they're you know push on through get the details wrapped up but if they're not going to allow you to be in their business then you can't help them with their business you just have to stand back and it'd be like somebody calling here and asking for my help but wouldn't tell me anything about what's going on well i i'm not going to swing in the dark. I'm not going to just punch into the dark. And I can't.

It doesn't do any good. Even if I wanted to help, I couldn't. So that's what you've got to be. They've got to be willing to accept your input. And that's what you've got to get to. Open phones at 888-825-5225. Sherry is in Indianapolis. Hi, Sherry.

Welcome to the Dave Ramsey Show. Hi, Dave. Thank you so much for taking my call. Sure. How can I help? Well, I haven't heard or been able to find much on your YouTube videos regarding people like myself and my husband that are already in retirement on a fixed income. My husband is 65. I'm almost 63. like myself and my husband, that are already in retirement on a fixed income. My husband is 65.

I'm almost 63. And basically I'm wondering if we should sell our house to try to pay off our debt faster or if it would be a more wise choice to keep the house and attempt to pay off the debt. How much debt do you have? We have $131,500, roughly. On what? Not counting the mortgage. On what? Well, stupid debt.

We bought a truck and a fifth wheel. What are they worth? They are worth together probably about $70,000, and we owe about $94,000. Okay, let's get them sold. I wouldn't sell my house. I'd sell a stupid truck and a stupid fifth wheel. Even though we would end up owing like $20,000 or now you cut your debt in half you'd go from 130 000 down to 60 000 right um if you take 70 000 for it and you get it sold

you'd cut your debt in half. That's a lot smarter than selling your own home. Yeah, between $60,000 and $70,000, and then we have about $38,000 in installment and credit card debt. Yeah, okay. And then I'd probably just pick up some jobs. You're still young. There's no reason for you to be sitting on your butt taking Social Security. You're broke.

So I'd get a couple jobs, and I'd sell the fifth wheel in the truck and clean up my debt and keep my house. That's what I would do. I mean, you're only 63 years old. Unless your health has gone kaput, you know, you've got a lot of life left. And there's no reason you can't go make some money and clean this mess up. That's what I would do. This is the Dave Ramsey Show.

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Hi, Cliff. Welcome to the Dave Ramsey Show. Hello, Dave. Thanks for taking the call. Sure. What's up? So, okay, I'm 67. Basically, I'm baby step free. And my dad gave me $50,000 worth of gold. I don't know what to do with it. And you have gold bars or gold certificates or what?

Well, gold bars and coins. Wow. Okay. All right. Well, I would just research someone in the area that is a broker for that, that sells them, and I would check your spot price. Just jump online and see what the spot price is on gold today. I don't know it off the top of my head, meaning what is it worth an ounce.

The coins actually might be worth more as coins than the gold spot price is per ounce. Okay. And so I'm just going to become an expert in what the value of what you're holding is and then be looking for a place to liquidate it. I definitely would liquidate it. Okay. That's a big part of my question. Am I going to be, you know, $50,000 shows up in my bank account?

Is the government going to have any special interest in that? No. Did you receive these bars and so forth upon his death? No. No. Okay. He's 89, and his health is kind of fading. Yeah.

Okay. Technically, an individual gives another individual more than $15,000 this year. It is taxable on gift tax to your dad. Okay. So when did he give you this money? It was just two weeks ago. Okay. All right.

Is your mom alive? No. Are you married? No. Okay. mom alive no are you married no okay um well i would backdate that and have him give you 15 000 worth last year and december 31st and another 15 000 now and then another 15 000 next year i mean you can hold it in your possession but i would just set up a gifting thing and you might want to see a tax person to verify how to do this prop oh wait a minute wait a minute wait a minute no no no no no we don't need to do that you do he if if this does show up if you don't do

this properly you're he's going to get hammered with a gift tax anything over 15 000 is going to get taxed okay okay if they if they really got in and did an audit and caught you and wore you out, they probably won't. Okay? But the proper way to do this is to have him fill out a form with he gave you this $50,000 gift under the Unified Estate Tax Credit. Unified Estate Tax Credit. Okay. Now, I'm assuming he does not have a $20 million or greater net worth, right? Right.

Okay. He does not. Okay. Then he can use some of his estate credit that would apply to his estate while he's alive and not have to pay gift tax. That's what we're doing. But it's one piece of paper, and he absolutely needs to file it. It's up to him. He's got to do it.

Okay? But he's basically filing a gift tax return and claiming that he gave you a $50,000 gift. You have zero taxes at all. Either way, you have zero taxes. But they could come back after him or his estate for taxes on anything in excess of $15,000 if he doesn't file this unified estate tax credit form and claim this gift under that there's an exemption where he does not have to pay the gift tax but he needs to file the form otherwise they could technically hammer him honestly i'd say there's a 90 something percent chance they never find it

they never do it but if i were in his shoes i still would do it properly just for sleeping at night's sake, right? Yes. Well, yeah, it makes me wonder, would it just be better for me to hold on to the gold until he passes? Well, then it would be under his – it really is one form. I mean, it's not – he has to file an income tax anyway. And so he might as well just file the one form and do it right. It's not that big a deal.

But but yeah, you're not going to come through some kind of big investigation on you. It's not it's not you know, it's not like you're raising a red flag or something. But, you know, if he wants to give it to you as part of your inheritance upon his death, he can do that. But, you know, technically you're holding it until that. You're holding his gold until he leaves it to you as an inheritance. You can do that, too. That's fine. I wouldn't do that because I'd want to get this liquidated because gold is so volatile and it's such a bad investment.

I mean, if he lives five years, there's no telling what the change in value could be and so um i'd want to go ahead and get it done and done right if it were me but you do whatever you want hey man thanks for the call open phones at 888-825-5225 julie is in nashville hi julie welcome to the dave ramsey show thanks sir my question was i've been listening to you for a couple months why 15 goes into retirement and does that change depending on how much you already have in retirement no i don't change it because it's just for a period of time it's baby step four is 15 of your income going into retirement once you're out of debt and have your emergency fund in place then you do kids college and you pay off your house with any other money you can find once your home is paid off and college is is handled for your kids if that applies to your situation then you would raise

the 15 to max out everything and keep the government's hands off of as much of your money as you can utilizing the retirement plans to shelter the money right um but 15 the reason for 15 is it's a very good healthy amount going in and yet there's still money left in your budget to put some on college and some extra on the house if you have no other debts and you have your emergency fund. So what do you make a year? I bring home $5,400 a month. Okay, and you're single? Yes, sir. Okay, so you're making about $80,000 a year, right?

Mm-hmm. Okay, and that's very good. Good for you. And how old are you? I'm 38. Okay, and do you have any debts? I don't know technically yet because in the sense of I have a home. I don't know how you go back and forth on this.

I've been listening, like I said, just knew. I have a home equity, and it's 30, and then I have a loan that is also tied to my house. Gotcha. Okay. Well, what we teach, we teach a thing called the baby steps, which is the process by which you build out a properly done financial plan to not only get out of debt, but to become wealthy. So let's walk through those in your situation for a second because you're brand new. Okay. Now, baby step one is I want to save $1,000 cash as a starter beginner emergency fund.

It's not a good one, but it's a little bit of a start. Do you have any money saved in cash that's not in retirement? I do. I have my three months saved. And how much is that? $15,000. $15,000. Okay.

Yes, sir. And do you have any other money invested or saved that is not in a retirement account? No. Okay. And you have a $30,000 home equity loan and a mortgage, a first mortgage in addition to that, right? Right. Okay. And you make 80.

So we put second mortgages or home equity loans in with credit card debt or car loans or anything else in baby step two. So once you've got $1,000, then we attack your debts, smallest to largest. You don't have any except a $30,000 home equity loan, and I would put the home equity loan in there if it is less than half your annual income, and it is. Okay. So our next goal, our next goal, yeah, if you're following our plan, our next goal will be to pay off the $30,000.

And that means I would use everything in savings down to $1,000, throw it at that. I'd squeeze every dollar out of my budget, throw it at that. And in just a matter of a few months, you'll have that paid off. Okay. Okay, now once that's done, then I go back to the $1,000 account. I throw money in there until I get it up to three to six months of expenses again because we use some of that money in this process then i start saving 15 of my income if you don't have kids at home it doesn't sound like you do then we're going to start throwing money at the mortgage with anything above 15 of your income going into retirement

i'm going to put 15 of your income retirement. Everything above that goes towards that mortgage. Once that mortgage is paid off, you're on your way to becoming an everyday millionaire then. Hey, thank you for calling. I'm honored to have you as a new listener. This is the Dave Ramsey Show. Thank you. Adam is with us in St. Louis. Hi, Adam. Welcome to the Dave Ramsey Show.

Hi, Dave. How are you? Better than I deserve. What's up? No, I'm kind of lost. I've been listening to you for about eight months now, so I have a general idea of how to do things, but I also don't. My son has stage 3 T-cell lymphoblastic lymphoma,

and because of his cancer battle, my $30,000 in debt is still appearing. It's still going up. And I'm looking for advice on how to kind of work on where I'm at plus be able to handle the incoming bills of his medical. Okay, so you've got $30,000 in debt now. And what's his prognosis? How's he doing? It's curable, but it's going to be about a two and a half year uh recovery okay and how far into this two and are you two and a half years

from now two and a half years from now we're about a year and a half in okay and you have two and a half more years to go correct okay and what's your household income? I bring in about $37,000 a year. Wow. And you currently have $30,000 in outstanding medical bills. Correct. That insurance did not cover. That insurance did not cover.

Okay. I have horrible insurance through my work, unfortunately. Okay. not cover okay i have horrible insurance through my work unfortunately okay and so um well the first goal is for your family to eat and we take care of your son long before we worry about paying back medical bills okay the second goal is to develop a plan to keep his treatments going and not get behind any further. Right. And so what do you know what your ongoing bills are going to look like from this point forward? As of right now, I know that just some of his medication that he has to take regularly is $950 a month. Okay. And that's not covered?

That is not covered. Okay. And have you been in touch with that drug company to tell them that you make $37,000 a year? Do they have any help available? They've sent me mountains of paperwork to fill out, which I've filled out and sent back, and now they're just kind of in negotiations, I guess. They're calling me. I'm calling them.

We're trying to work something out, and they've lowered it down because at Tillbush, $950, it was originally $1,100. So they knocked it down some for me, but it's still, I mean, I've done 401K loans, which I know you're against those. I've done those to try and help with this, and honestly, I kind of don't know what to do. You know? I understand. Your plan uh i love

the way it sounds and so like that but it's like how do i get started doing this when i have this you don't until we get the other side of this right now we're in survival mode financially and and you know because we're going to take care of your baby that's your first thing right before anything else before we worry about my plan, you know. So the first goal is just to get survival going, and that means being able to buy the medication and feed your family and keep your lights on and not lose your house, right? Correct. And so we start doing a budget with that, and immediately I went to if we can cut the cost on the medication and you're

already working on that i would keep working on that that's what i would do so um the uh you know begin to build push that down and um we'll work from there but the uh um i i think the what i want is just back up and go with what we call the four walls. And that means keep the four walls of your house standing. Okay. It starts with food and you make enough to buy food. Okay. And buy the medication.

Food and then we're going to pay the lights and water and buy the medication. Do you have a mortgage or rent? It's a rent to own. Okay pay that bill okay so you eat you keep the lights on you pay the rent so you're not homeless and you pay the medication okay there's not going to be a lot of money left over after that your wife does not work your wife does not work outside the home correct and um and she's got a full-time job taking care of a little boy with cancer correct yeah and so um uh yeah you buy that and you know other stuff you know stop adding to a 401k stop buying anything or doing anything.

If you've got an old student loan laying around, just tell them I'm not paying it right now. Good luck. Because you've got to buy this medication and your food for your family. And that's really all I'm worrying about. Now, if you can find some extra money to begin to, you know, be current on other things first and then begin to pay off some of those old debts while not accruing new ones then that would be the best case right you'd be like treading water right if you're getting further behind i'll accept that versus not buying his medication right

right i mean we're gonna buy the medication, period. Yeah, definitely. But hopefully you're not getting further behind. Hopefully you can pick up some side work or some overtime or something else. Because $1,000 a month coming in extra right now is a lot of money for you. Yeah, that would be a lifesaver. Yeah. And so, I mean, you're probably going to look at doing that sometime in this journey. I don't know when.

I mean, it depends on how your son's health is going and how much time you need to spend there with him. I don't want to take that away, but I'm trying to keep your family from getting underwater so far that you can't get out two and a half years from today. Right, exactly. That's one thing I've been looking into. And with trips to Iowa City,

which is a four-hour drive from where I live at. That's just the best doctor we've been able to find. It's hard to find that second job that would still allow me to go to Iowa City, I guess. Yeah, okay, cool. Good. So let's kind of lay it out this way. Goal number one is the

four walls and medication. You know what I mean when I say that? Yes. Okay. Once you've got that, goal number two is to be current on existing other debts. Okay? Okay. Then goal number three will begin to pay off on existing other debts, okay?

Okay. Then goal number three will begin to pay off those debts. If you make enough money to get all the way to goal number three, fine. If you don't, fine. You're going to break even for a while until we get the other side of this and the need for this expensive medication goes away, the medical bills go away, and you can work extra your wife to take side job you know once his health returns we can do a lot of stuff to dig out of this right right but for right now our goal is to feed your family and

save his life right okay so just like collections go to collections basically yeah they can they can just uh stand in line outside the door because i'm not going to pay them and not buy this medication. Right. I'm not going to pay them and let your lights get cut off. Exactly. Yeah. So I'm just prioritizing the money that you do have with those three goals. Right.

Most important things first, next most important thing, and next most important thing. And an unpaid old medical bill is way down the list of important things it's not really there it's not even on the list of important things it's on the list but it's not important okay we'll get to it when we get to it now if you get a fifty thousand dollar inheritance check yeah we'll reach over and start paying some bills right or you get a new job making 180,000 you know we'll reach over and start paying some bills, right? But until you start making excess money above your four walls and staying current, going back on old stuff,

you don't have the money to do it. Okay. You'll get there eventually, but for today, if we can tread water and take care of his health, that's going to be our thing. So you call me back if I can help you any further, man. Appreciate the call. Open phones at 888-825-5225.

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