The Ramsey Show - App - The Secret to Sustainable Career Success (Hour 3)

Episode Date: May 15, 2019

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🎵 Live from the headquarters of Ramsey Solutions, broadcasting from the Dollar Car Rental Studios, 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. This is your show, America. Thank you for joining us. Open phones at 888-825-5225. Scott starts off this hour in Philadelphia. Hey, Scott, how are you?

I'm doing all right. How are you doing? Better than I deserve. How can I help? All right. So I have been trying to pay down, had about 45,000 student loans, have about 16,000 left. And my company just started this year, 401k, and I got excited, started putting 8% into it. If I should lower that and pay off the student loans first, I'm just not sure if investing a lot early will pay off more or getting the debt just paid off in the next 12 months will be better. Okay. We just finished a research study that Chris Hogan wrote about in his book Everyday Millionaires where we studied 10,160 millionaires. 90% of them became millionaires not by inheriting money.

Inherited money is not how they became millionaires. Okay? So they did it on their own. And so then the question begs, how did they do it, and what process did they use? They invested in their 401K like you're wanting to do. Like 80% of them invested in their 401K or Roth IRAs. It was a big part of the millionaire story. However, not one millionaire, not one out of the 10 160 that we interviewed 10 000 of them not one said they started investing and didn't pay off their student loans they all if they had debt cleared the debt as quickly as

they possibly could and never borrowed again. They avoided credit card debt. They avoided student loan debt. They avoided car debt. And they used the fact that they didn't have all that debt, freed up their income in order to invest in their 401K. So big, long answer to your question. But the point is my answer is based in data points from actual people who became millionaires. And so the answer is stop your 401K temporarily and attack with a vengeance your debt and finish cleaning it up

and then use the rest of your life to invest in 401Ks and Roth IRAs. We would recommend you get an emergency fund in place of three to six months of expenses. We call that baby step three. And then we'd start putting 15% of your income away until your home is paid for in 401ks. So the answer to your question is today, I would stop temporarily your 401k. You're not going to miss out on much because you're probably going to pay that $16,000 off in a year, 18 months, something like that. You're going to pay it off really fast because you've already reduced it from $40,000 down to $16,000. You know how to do it. So that's what I

would do, and that's why I would do it. Proven statistical data points on how to build wealth. James is with us in Columbus, Mississippi. Hi, James. How are you? Hi, Dave. Thanks for having me on. Sure. What's up?

We recently sold a house and were able to get some cash that we had kind of tied up in it here in Mississippi. We own a house in California that is currently a rental property. And it's got a solar, like a photovoltaic system on the house that the previous owners had rolled into getting paid off through the escrow account. Now that system has about, I want to say 30,000 is what they paid for it. And I did the math and that's going to cost about 50 plus thousand dollars after the amortization schedule kind of plays out over 20 years. So I'm looking at possibly paying that off and i've also got a a personal loan uh that my uh parents you know they've made smart financial decisions when they were uh younger so that they were able to help us out with uh kind of essentially acting as the second mortgage uh to get into this

california home that we had at the time um so you bought a home in California that you were living in, and then you left California? Yeah, we were stationed there in California. And with that property, we loved it. We want to keep it. We might be moving back to it one day. So I'm just trying to figure out with the money. We've got about $100,000 in checking now, and I've got $20,000 in savings.

I think I'm on step four, five, and six if I'm looking at everything properly. But I just kind of want to know. Well, I mean, basically extra money beyond 15% of your income and beyond retirement would go to pay off real estate. Right. That's maybe step six. And so, yeah, the answer is regardless of the solar situation or any of that, do you own the home in Mississippi? We just sold that one, and that's where we got the cash out.

Okay. So where are you going to live? We live on base. Oh, okay. All right. Yeah. And so you own one piece of real estate. That's California.

Correct. And the total balance on that is what? The balance on the main loan, the mortgage is about $350,000. The personal loan is about $70,000. And the property is valued at about $615,000. Okay, and what's owed on the solar panels? $24,000, I believe. And that's in the $15,000. Okay, and what's owed on the solar panels? $24,000, I believe. And that's in the $350,000?

Correct. Okay, all right. Well, then I would pay off your personal loan. That's baby step two. Even though it's at 0%? Yep, especially because it's a family loan. Thanksgiving dinner tastes different when you eat with your master. Yeah, you have $100,000 in your checking account.

Pay off your dad and pay off your solar. Okay, and then just keep cracking away at it. Yeah, and then you've got your emergency funds set aside. You put 15% of your income into retirement. You do kids' college, and if you find other monies from something and you're going to keep this property, let's get it paid off. I personally don't own any real estate long distances rental. It's a very dangerous thing.

It's very, very difficult to keep your hands around what is going on with your property. Even if you're going to return to that area, you know, you just buy something someday when you return there 20 years from now or something. I doubt you'd move into that house anyway. The likelihood is very low. But, you know, if you're going to hold on to it, that's like your dream, let's at least get it paid off. But today, I'm paying off dad and solar.

Then you're debt-free except the mortgage, and you'll begin to chip away at the mortgage as you go along. So, good question. And obviously, you were serving in the military. Thank you for your service. Open phones at 888-825-5225. Thank you for joining us. Caleb is in the Ramsey Baby Steps community on Facebook, which is a private Facebook group, but you can join. We'd love to have you.

There's quite a few folk there, over 100,000 folks. The Ramsey Baby Steps community. At what point do you drop full coverage and only have basic liability on your vehicles? When you have enough money in the bank to write a check and pay for the vehicle. If you run into a ditch and you have to buy another car, it's $50,000. You have $50,000 in the bank, extra. If you want to do that, you can do that. I actually carry coverage on mine

because versus the value of the car, it's a good risk transfer as far as I'm concerned. 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. Thanks for joining us, America. This is the Dave Ramsey Show. Brooke is in Columbia, South Carolina. Hi, Brooke. This is the Dave Ramsey Show. Brooke is in Columbia, South Carolina.

Hi, Brooke. Welcome to the Dave Ramsey Show. Hi, Dave. I'm excited to talk to you. You too. How can I help? My husband and I both have old 401Ks from previous employers, and so we know you recommend rolling those into Roth IRAs. So we met with a SmartVestor pro earlier this week. The issue we're running into is that we are on Baby Step 2, so we don't have the cash to pay the taxes right now.

Yeah, I don't recommend you roll those to a Roth. I recommend you roll them into a traditional in that case. Okay, yeah, that's what he said. He said we could roll them into a traditional and then just pay the taxes and roll over into Roths at our leisure. Exactly. After you get out of Baby Step 2. When you're up in 4, 5, 6, preferably 7 would be the best time to go ahead and convert your traditional to a Roth.

You can do it at any time. But let it sit there and grow. Because right now you don't need another bill. Right. That's what it comes down to. You've got bills already. You've got debt right now. And we don't need to add to that with an IRS debt.

Okay, that makes sense. So you think either baby step four or preferably seven would be the best time to change those over? Yeah, when you're doing four, five, and six, if you're waiting around in a big pile of cash and you want to use some of it to pay the taxes on this, much is in the account um only about 30 000 okay so we're talking about seven thousand dollar bill okay so what's your household income uh growth would be about 115 yeah great all right and how much of that do you have left in baby step two we have left just under 40 000 okay great and how old are you guys i'm 32 and my husband is 34 okay well let's say four years from now you're making 150 160 you're debt free and you're doing baby steps four five six you're pounding on that mortgage pretty good but you get a seven thousand

or eight thousand dollar bonus you might look over there and let it go oh we'll go and roll it now you know okay but that kind of thing but you don'll go and roll it now you know okay but that kind of thing but you don't want to do it right now you need that money to pay off the cash pay off the tax pay off your debts you're in baby step two so um yeah they gave you the smart investor pro told you exactly like i would have told you so good question isaiah is in tampa florida hi isaiah how are you? I'm doing better than I deserve. Thank you for taking my call.

It's my pleasure. How can I help? So I have some extra money that I'm unsure what to do with. I'm 18. One of my parents passed away when I was very young and left me some money for college. The problem is that I have a full ride scholarship and a job, so I don't depend on it, and I don't know what to do with it. All right. So I went to your house to see what to do.

Left for college, was it earmarked for college, or is it in a 529 or an ESA? I'm not really sure about the details. It was just like I went to the, I got like a check in the mail, and I just put it into my bank account. It wasn't really sure, like, what exactly to do with it. I'm sorry. Who gave you a check? My dad. Okay.

It was from a – I'm sorry. I don't really know the details of it. It's been a year. Okay. So it did not come out of some kind of a college plan, just someone died and left you some money that they wanted you to use for college? Exactly. Okay. All right. Good. Well, what I would tell you to do is this.

It sounds like you've got college going in the right direction. I would just set that aside as an insurance policy to ensure that you do graduate from college debt free once you get out of school you can do some investing you might use it for a down payment on your house or something like that the goal would be to never touch it and go with the plan you're currently working but the best rate of return isaiah can get is isaiah getting an education in an area that becomes your career what are you studying i'm studying international business right now great good good career field you'll do great and you'll make good money and so you getting that degree and getting it debt free is the best investment you can make.

Now, you've already got it covered. You told me that, right? Yes. But this $7,000 sitting over in a savings account just in case there's a problem. Not to send you on spring break. Not to buy you a car. Not to buy you a bunch of clothes because you fall in love with some girl, none of that, okay?

But this is all sitting there just to ensure that Isaiah gets his international business degree 100% debt-free. That's the best investment you can make. You are a better investment than a mutual fund is. Crystal's with us in Pensacola. Hi, Crystal. Welcome to the Dave Ramsey Show. Hi, thank you. Crystal's with us in Pensacola. Hi, Crystal. Welcome to the Dave Ramsey Show. Hi, thank you. What's up? So my question is, I'm currently a teacher, so I make about $38 a year,

and I'm looking into going back to school to get my master's in speech and language pathology. Wonderful. A master's degree is not cheap, and my question is, how would I go about doing that and not putting myself in incredible debt in the process? Well, the first thing you do is you understand that where you get your master's degree does not matter much. Correct. And so not overpaying for it would be a big deal. They're not cheap, but they are a wide spectrum of costs, all the way from a good investment amount to the absurd. And I've talked to people that spend $200,000 to get what you're talking about,

and that would be nuts. Okay? So have you priced out what it's going to take you to do this? I have, and if I'm able to get into a school like UF, for example, would be maybe $300 a credit hour, and there are some private online schools where it's $1,000 a credit hour, which is what I don't want to do. So I'm thinking in the better end of it isn't there a little university right there in pensacola there is a university here

but they don't offer that master's okay all right so university of florida is your closest option university of florida um fsu possibly or what about ucf yes ucf they offer it as well yes yeah ucf would be cheaper in florida aren't they they're cheaper than fsu they're not cheaper than uf but uf is harder to be accepted to okay all right so how many credit hours does it take to get it depending i'm going to need more because i would need leveling courses so around 60 around 60 okay yeah so you're talking about 18 000 bucks that sounds good i was going to guess 20 all right that's awesome okay so 20 that you need 20 000 bucks you make 38 you're how old 26 cool all right and you have you currently have a teaching certificate and you you teach what? I teach third grade reading.

Great. Awesome. I want you to become a reading tutor as your side hustle and make $30 an hour as your side hustle and go make you $20,000. You probably do it in a year. Do you think so? Oh, yeah. How much do you think I would need to tutor? Well, I don't know.

If you put $30 an hour on it, you need $20,000. It'd be about, you know, quite a bit. You're going to be working a lot. But you're going to pay cash for your master's. That'd be awesome. Yeah. The other possibility is get some kind of scholarships. Do you know of an institution or an organization you might want to go to work for when you get done?

I want to continue to work for the school system. Okay. Will they pay for it? No. As of right now, my county school system is not offering anything for me to go back to school. Yeah. I'm in Escambia County, so we're on the lower end of the school district but shop around I mean is there a place you could go teach

that would pick up the bill that you'd want to end up at that'd be cool I mean I'm fine if somebody else picks up the bill but for sure you've got a marketable skill reading

I mean for sure, you've got a marketable skill, reading. I mean, for sure. Parents everywhere want their kid to read better. Everybody knows that reading opens everything up to everyone. It's the most vital skill out there. And so, yeah, you've got to go make you some money, kiddo, and then go get your degree. I love it. It might take you 18 months to pull this off, but so what? What else you got to do? This is the Dave Ramsey

Show. The author of The Proximity Principle, Ramsey personality Ken Coleman, is in the house. That's right. Home from New York and Chicago on book tour, stopping through Nashville to do appearances here. And mandatory that he comes by here since he works here. So, got to check in. That's right. Got to check in. If you've got questions for Ken on career and on the proven strategy that will lead to the career you love,

we're going to open up a couple of phone lines right now so that you can get through to talk to Ken. The phone number is 888-825-5225. 888-825-5225. Ken was in New York and then last night did a book signing in Chicago after doing media there yesterday. Flew back into Nashville today media here today and tomorrow in Nashville in our own hometown big signing tomorrow night here in Nashville the Barnes and Noble here in Cool Springs I say here because it's right down the street from our offices corner Mallory Lane and Moores Lane so come out to Cool Springs six o'clock tomorrow night, and Ken will be signing the proximity principle.

So book tour's going well, obviously. Yes, sir. We're thrilled. The response has been great, obviously, on social media, the chatter, which is what we love to hear from people that are already reading it. I've had several people say they've finished it in two days, which is impressive, and really loving it. And then, of course, sales numbers.

We're looking really good on Amazon, as you know. Sitting at 79 right this second. In the top 100 still. Number one in job interviewing. Number one bestseller there it's showing. So it's done very, very well. But the important thing is it is not a book that's going to take you two weeks to read. You're going to read it in one setting or two.

Especially if you need the information, the proven strategy that will lead to the career you love. And so, I mean, if you're like dissatisfied with where you are and you're looking to make a move, this is a page turner. It's not super thick. It's got a lot in there. But Ken gets straight to the point, don't you? We do. We really start off with, hey, if you're dealing with fear, doubt, and pride, because all of us do at some level. And certainly when we're trying to start out or make a switch.

And quickly, as you say, we get right into the five people. We show you the professor, the professional, the producer, the peer, and the mentor. And then we get into the five places. Where you are. A place to learn. A place to practice into the five places, where you are, a place to learn, a place to practice, a place to perform, and finally a place to grow. And then we finish off with four practices that you need to employ when you are around the right people in the right places, and then this idea of a proximity mindset. Getting that antenna up, Dave, no matter where you are in your journey, to always be

looking to put yourself around the right people in the right place. Because this isn't just a starter or switcher book. This really is the secret principle, the secret sauce to sustainable success over a long time. You want to keep growing. You talk about it all the time from our stage. You tell our leadership and our entire team this leaders are learners and and successful men and women are also people that are constantly looking to grow in advance and so that's the i just gave away the outline of the book and it is practical because it allows you to number one know who you need to be around where you need to be but then where do you find these people where are these places and then what do you do when you're there and it's so informative

this is not a theoretical book it is a strategy it's a step-by-step game plan here's what you do that's right and um so this is not a i wish my life was better book oh no this is i want to make progress i'm gonna take you're gonna show me how to make my life better that's right and you're gonna show me the steps to do that the clear path it's all actionable it's identify and then move to get in these places and then what are we doing what are we learning how do we apply what we learn it really is a practical guide okay if you do this this is going to lead here and you're constantly looking for all these people in all these places and what it really is doing dave is taking away the giant myth it's blowing up the myth that it is impossible to do work that matters to you it is impossible for me to actually get there and we show you how you can

do it and even the other myth it's almost this little brother that if i'm going to be do work that i'm passionate about i have to be paid less yeah that's that's just horse nerves it's absolutely true yeah yeah the book is the proximity principle ramsey personality ken coleman is the author the proven strategy that will lead to the career you love we're taking your calls about career this hour the phone number triple eight eight two five five two two five if you want to talk to ken that's triple eight eight two five five two two five we're going to open up some lines and check and see what's going on there That's 888-825-5225. We're going to open up some lines and check and see what's going on there with that. So jump in on that if you guys want to.

It looks like Tasha is here with Raleigh, North Carolina. Hey, Tasha, how are you? I'm well, and yourself? Better than I deserve. Your question for Ken Coleman. Yes, I'm currently working in the public sector and trying to consider going into the private sector because it's more money and the raises come more consistently. But my end goal is to, at the end, is to do real estate

investment entrepreneur. Okay. Well, let's first talk about the path to the private sector, because you're not going to move right into real estate investing. Am I correct? No. Well, I'm currently, I do real estate on the side as well. So I do that right now, too. Right. But where would you like to move?

If you're in a public sector role, what is that stop on the way to eventually getting to a point, and Dave will speak to this, where you've got the cash position to be able to be a real estate investor and do it the right way so what's that stop along the way what is it you want to do next in the private sector oh let's still be in the same field it would be um in like the um biology field okay so what's your question? How can I help you? My question was, should I, because I have nine years

in the public sector. Okay. So along with staying there, it comes with some benefits after a few years. And there's also, like, forgiveness for loans and things like that.

And transition to the private sector, I have more income, you know, to do the real estate investments in the long end but i'm just wondering which would be a decision i get this question a lot on the show should i stay where i am because i have all these benefits that i think are very safe and smart or do i move to where the potential is is greater and i think if you make the move the right way, meaning you find that private sector role, same sector, same industry, and you step beautifully right into that,

meaning you don't Geronimo jump and leave your current income through that job, I would love to see you move to more income. I think more income is always better than, well, I've got good benefits and some safe stuff over here because of the government. I think the private sector, more money, the opportunity to earn more, you're your own boss. That's what we teach here at Ramsey Solutions. We're all self-employed here. I like that move.

Absolutely. I agree with you. The sooner, the better. Yeah. It doesn't mean you walk in and quit today and don't have anything. That's the Geronimo leap you said. You don't want to do that. We're going to be unwise about the transition.

But I don't think two years from now we look up and see you still sitting there you should you should make the moves to you know to uh start contacting in the private sector find out what's available to you and and what i find a lot of times is is that you can make as much as double oh for sure which offsets any quote benefits or quote you know's really, it's not worth it. It's not. Let me tell you what's going on with Tasha because I get this call a lot. What happens is she's probably told a few people in her life, I'm thinking about moving over. Same field, which, by the way, she's got all the connections.

So this is going to be, I think, a pretty easy transition for her because she's staying in the same field. So the connections are there to be able to step beautifully into the next chapter. But, Dave, what happens is the fear appears. We start telling people, hey, I think I'm going to leave this government job with all these benefits, and I'm going to make the move over here. And people who are afraid to even think about the future, to think about doing what they really love, they'll go, why would you do that? You get all these benefits.

That is crazy. And here's what happens. You go, why would you do that? You get all these benefits. That is crazy. And here's what happens. You go, oh. And so all of a sudden, the safe decision gets rationalized as the smart decision. Because everybody else around us is saying, you're crazy, Tasha. Why would you leave all those wonderful government benefits? And you and I, I mean, I can't even say that without laughing. You know what I mean?

The safe decision is not always the smart decision. Get out of there. Go take... Soon. Get you a... Yeah, I mean, by Christmas... Use the proximity principle. She knows people in the industry.

Yeah, by Christmas. Hey, hang on. We're going to give you a copy of Ken's book, The Proximity Principle, to help you make that transition, kiddo. Thanks for calling in. Call us for Ken Coleman this hour. The phone number, 888-825-5225. You've got career questions. This is what he does. Coleman this hour. The phone number 888-825-5225.

You've got career questions. This is what he does. This is what this huge book is doing. The Proximity Principle signing tomorrow night in Nashville. Cool Springs area, Barnes & Noble on Mallory Lane, corner of Moores Lane, Mallory Lane, right down from our offices.

Come out. I'll be there and so will others. Come out and get Ken to sign your proximity principle book. This is the Dave Ramsey Show. Our scripture of the day, Proverbs 10, 17, Whoever heeds discipline shows the way to life, but whoever ignores correction leads others astray. Harry Truman said, In reading the lives of great men, I found that the first victory they won was over themselves.

Self-discipline with all of them came first. True. I like that. I like that a lot. It's very Truman-esque. Ken is a great student

of history, for those of you that don't know the backstory on the ken coleman it's a nice way of saying i'm a history geek you are very nice you're a history nerd that's what you are it's really true but it makes it fun to travel and we get to see stuff and ken knows all about it that is true that is true book is the proximity principle the proven strategy that will lead to the career you love. Career questions for Ramsey Personality, Ken Coleman, this half hour. The phone number is 888-825-5225. Reminder that he is on book tour and in our hometown of Nashville tomorrow night,

signing books at the Barnes & Noble on Mallory Lane and Moores Lane at Cool Springs. 6 p.m. come out. We will be giving away money. Oh, yes. $500. We're doing $450 in cash, Dave. And then we've got a $50 coffee gift card so that you can, on us, begin to have those one-to-one connections with the right people so that they can get you in the right places. And we did our first one in Chicago last night, and it was a great story, Dave. We had a man by the name of Angelo that was with us. And if you want to see Angelo, great guy

on my Instagram page, at Ken Coleman Show. But he won the money, and as I was handing him the money, he came up, he said, can I ask you a question? And it was in front of a large group of people. I said, sure. That's what we had just done, a lot of Q&A. And he said, I want to move into engineering. I've got the education, got all the certification, but everything I look at applying for says I have to have experience. And, Ken, I've been a machinist for 25 years. And so basically here's that fear and doubt rearing its ugly head in both of his ears. And so we walked through how he could actually use the proximity principle and hang out with some engineers and begin to meet people because they were going to open a door for him has nothing to do with experience when you get the right introduction

to a company that needs a good engineer because i said could you start tomorrow he said absolutely i could so long story short we finished plus 25 years as a machinist makes him an excellent engineer absolutely that's the whole point it experience. But he's getting hung up on a lot of people that are listening that get hung up when you see a job requirement and these companies,

by the way, I'm just going to say this if I step on toes, it's fine. They put things out there like, oh, you got to have experience. Well, I get why they do that

and they do mean that but it's a game changer if you have the talent and you got the connection and they go, oh, you can actually do the job. That's all they care about. Then that experience line disappears. It's only about can you do the job that's exactly can you help us win

if experience tells me you can do the job that's great that's otherwise i can figure out you can do the job then that that gets you the job i can't tell you how many times i get a call on the ken coleman show about experience so really important to say that but anyway so i begin to sign books at the end of the book signing angela was standing there with another lady who had been sitting in the audience that night and had signed her book and they were both smiling at me like they had something to tell me and i hadn't heard it yet and it was kind of fun so i walked up and angela said this lady right here just came up to me and she has a good friend who's an engineer and she's going to connect us tomorrow she thinks there's an opening at his place you know but it doesn't matter whether that's sad no oh yeah this is my favorite part he goes this proximity thing really works and i said

i know i wrote the book that's why we wrote it you know but it was it was really a sweet moment to see two people sitting in that audience to get a book signed and they're helping each other out and that's what it's all about. That's how this thing works. People like to connect people. Well, do you know how valuable that lady felt? She was smiling bigger than Angela. That's how valuable she is.

She is valuable. But she also was smiling bigger than Angela. Yeah, that's awesome. That's how it works. Teresa in Charleston, or Charlestown, if I pick up the right line, that is. Teresa is in Charlestown. Hey, Teresa, how are you?

Hello, Dave and Ken. How are you? Good. Your question for Ken. I have two questions. I think I know the answer to one, but I am 51 years old, and I invested with the federal government. I work for the federal government as an accountant. I love my job. It is going to be moving closer to D.C., which would add another 25-mile to a 65-mile commute.

So it's not something I'm willing to add even more time on my travel. So my husband and I decided we went to relocate from West Virginia to Florida. They don't have accountant jobs there, but because I'm going to be working another 15, 16 years, we figured getting something in the general realm of finance, even though it may not be the dream job right now, would get

me in a better proximity to finding something that would be my passion again. So you've been in accounting with the federal government how long? I'm going in my fifth year. I was self-employed before. As an accountant? Yes. I owned multiple businesses, etc. and so on. It's not something I want to, I don't want to go back to being self-employed again. Okay, well, so let's take the first part of your question there. You know,

I just agree, I disagree with you that there aren't accounting jobs in Florida. Maybe you didn't mean to say it that way, but let's just get really honest. We've got a crazy job economy right now, and being an accountant is really more of a description. I want you to think... I only mean with the federal government. Oh, with the federal government. Oh, do you want to move to a government? I want to be the federal government.

Right, but do you want to be in a government position? Or do you realize that if I'm in the private sector doing accounting work, I've got a much greater opportunity? Do you realize that? Well, because I have a health condition and having to start all over again with my retirement, etc., I can carry my health insurance through my retirement years if I stay with the federal government. Okay. Well, that's an option. And that was a concern for me.

All right. Well, the second half of your question is, are you using the proximity principle the right way? And the answer is yes. Because, again, you're describing yourself as an accountant, but I want you to think about all the functions and the skills and things that you can do in the area of finance because of your training and because of the fact that you're an accountant. So moving down there and getting in a role where maybe you can be a bookkeeper or something, it just keeps the money coming in until you find a government position. If that's what you really,

really want, you feel that's the best move for you, I'm fine with that. But I would really push back. I'll let Dave step in here. I think a good private sector role in accounting and you could be so valuable in so many roles there with great benefits, and I think you can do better than the federal government's benefits. But I understand the retirement issue. And, Dave, I can't really speak to that, how that transfers. Well, it doesn't transfer. That's what I thought.

You're just going to go into the public sector if you do that, and you'd make more money typically. Yeah. But in your case, you said the insurance is a big issue and so you've just got to look and say that's usually what you're describing there's usually a large company right um but you know you can look at that and as you said you can park and finance until something opens up the fence that's a good move back in the fed but you're you're you're doing it you're you're making the decision exact exactly the way Ken would prescribe. That's right. And I don't have any issues with that at all.

Very well done. Open phones at 888-825-5225. Thea is with us in Nashville. Thea, we're short on time. Go straight to your question. Straight to my question. I would like to ask Ken if I lost my job last April and tired of getting rejection emails. So should I pursue my passion as a freelance graphic designer,

or should I try to get my 8 to 5 back to become more financially stable? I like getting stable quickly. What is your financial situation? Give us the quick description of where you stand. It's not horrible, but I only just got my first credit card this year, but it's already at $3,000 out of $4,000. I'm not using it anymore, and I'm on baby step number one. Are you single?

Yes. My rent is $1,500 a month. So how much are you making freelancing? Not enough right now because I only have two clients, but I've been curious about dabbling in it, like trying to take it full on, head on. But you've been unemployed for a year. How have you been eating? No, I haven't been completely unemployed.

I've done retail work, and right now I wait tables full time, which also comes with some minor benefits. So the answer to your question is yes, you need to get stable. Get a good, solid job. Those are okay because they give us the springboard into the future and keep doing the graphic design but only as a side hustle. Nights, weekends, let's go from two to three to four clients. As you begin to build a true portfolio and some reputation out there,

then you eventually move in when that can replace the current stable job. Very well done. Good stuff. The book is The Proximity Principle, the proven strategy that will lead to the career you love. Ken, proud of you. Thank you, sir. Appreciate the opportunity. Good material.

Good stuff. Ramsey Personality, Ken Coleman is the author. Again, signing books tomorrow night, 6 o'clock, Barnes & Noble in Cool Springs in the Nashville area. That puts us out of the Dave Ramsey Show and the books. We'll be back with you before you know it. In the meantime, remember, there's ultimately only one way to financial peace, and that's to walk daily with the Prince of Peace, Christ Jesus. Hey, guys, it's Blake Thompson, senior executive producer for the Dave Ramsey Show.

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