The Ramsey Show - App - These Debt-Free Screamers Paid Off $402,000! (Hour 2)

Episode Date: November 1, 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. Thank you for joining us. Open phones at 888-825-5225. That's 888-825-5225. Tony starts off this hour in Florida.

Hi, Tony. Welcome to the Dave Ramsey Show. Hey, how's it going, Dave? Better than I deserve. What's up? Okay, so I have $85,000 in student loans. It's actually two different loans. One is for $10,000, the other one is for $75,000.

$75,000 one is a 10% interest rate, so it's very high, and I'm looking to refinance all of that student loan debt. I have $10,000 of cash in savings and I'm just wondering, should I just use that cash to pay off the smaller loan and then refinance the $75,000 student loan? Or should I just combine the two and keep the cash to help me get the refinance on all of it? What's your degree in? Well, I'm an airline pilot, and I just started with a regional airline. So I'm only taking in right now somewhere around like $35,000 a year. So your degree is in aeronautics? No, I have an associate's degree, but you don't necessarily have to have a degree.

Yeah, I know. So you've got $85,000 invested in your pilot's license is what it amounts to. Exactly. Okay, so the $75,000 is not a Sallie Mae loan, is it? It is a Sallie Mae loan. It's a federal loan. Okay, So the $75,000 is not a Sallie Mae loan, is it? It is a Sallie Mae loan. It's a federal loan. Okay. All right.

Cool. All right. So what we teach folks, Tony, is to work what we call the baby steps. Baby step one is $1,000 only in your bank account as a starter beginner emergency fund. Any money above that, and you stop all investing, and any money above that that you have in any investment or in anything anywhere you use to get out of debt if it's not in a retirement account, okay? And we're going to list your debts, smallest to largest and attack them in that order now uh so yes i would take the ten thousand and i would pay off the ten thousand dollar loan i'd set a thousand dollars aside as your emergency fund

your starter beginner emergency fund and um then from there you know what's going to happen is i guess as you're getting your hours up on the regional, you'll be open to move up into a national carrier, and your income will triple, correct? That's correct. And how long will it take? How many hours do you have to get for that to occur? You probably need at least a minimum of 3,000 to 3,500 hours. Is that a year?

1,500 hours. Is that a year? 1,500 hours. In two years, I'll make cap in at the regional, and then my pay will pretty much double right now. Yeah, okay. And then in four years total time is when I'd be looking to move on to a major carrier, which you start off that major carrier around $85,000. So the point is, making $35,000, you're not going to make a ton of progress on the $75,000. And you don't have the opportunity for a lot of side work,

unless you just had something you could do from your cell phone while you have downtime, because you've got a lot of downtime. But aside from that, your most progress on the $75,000 is going to occur after two years when your income doubles the first time. And then after four years when it doubles again. And that's when you're going to finish this thing off. So you've got a little bit. It's not like you're going to be out of debt in two years. I doubt it. Unless you have the ability to earn some side money that I'm not aware of here.

Because my guess is you're working a bazillion hours well the 35,000 i make right now that's taking into account you know that i'm only getting paid the bare minimum because i'm on reserve which is like being on call but once i'm holding a normal schedule and then i'm able to pick up additional trips i can make more than that so it really varies the income varies in the beginning okay so i want you to work all you you can work is my point because the more money you make, the faster we can throw it at the 75. Yes, I would refinance the 75. Contact Splash Financial.

There are no closing costs and no prepayment penalties, and they probably can get that 10% way down. I don't know whether it would be 5% or 6% or 4% or where it will be, but find out from them what they can do with it. That's not going to get you out of debt. What's going to get you out of debt is all the other stuff we've been talking about. But it won't hurt to have 5% less being charged on $75,000. That's $3,000 a year.

Right. I'm trying to save on it in the long run. Yeah. I don't want you in it on the long run. Right, absolutely. That's my point. So I want to get you out of it as fast as I can. And so a $75,000 problem is not solved by saving $3,000.

It's solved by your income coming up and you living on nothing and dumping every bit of your income on the $75,000 as fast as you can. But it's okay to refinance it because I'll take $3,000 if you send it to me, but it doesn't solve a $75,000 problem. You are the secret sauce. You working your butt off and living on nothing are the secret sauce. That's what gets you out of debt. So yes, I'm going to walk you right up that debt snowball like we're talking about, right

up the baby steps. $1,000 in the bank is all you got. Everything else you can get your hands on from any other place. Ride up that debt snowball like we're talking about. Ride up the baby steps. $1,000 in the bank is all you got. Everything else you can get your hands on from any other place. Anything you got you can sell. Anything you can do to get rid of debt. Anything you can do to attack that 75 from then on. Take that $10,000 out.

Throw it at that $10,000 loan. Boom, we're down to this one loan, and we're just going to lean in on that baby. And the sooner it's gone, the faster you will be free. Hang on. I'm going to send you a copy of the book, The Total Money Makeover, which outlines everything I was just talking about. And we'll show you exactly what to do. Well, how do you know Halloween is over? Because we start talking about Christmas.

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Michelle is with us in Florida. Hi, Michelle. Welcome to the Dave Ramsey Show. Hi. Thank you for taking my call. Sure. What's up? Well, I'm in a situation where my husband and I both, we love our job,

but his job has taken him about four and a half hours away. So we are renting a place down there, just a studio. It's $1,500 a month. And we were wondering if maybe we should go ahead and buy something. The job could transfer at some point anywhere between, you know, maybe within two years or more. He's 52. I'm 50. We have two kids. One's out of the house. The other one's in college. She doesn't cost us a lot. We have the Florida prepaid, and then she also has the Bright Futures. What does your husband make? I'm sorry?

What's your husband make? Without the retirement, he's at $120,000. Without the retirement? He's retired from the military, so there's a $30,000. Oh, he gets that. I'm talking about this job that he commutes four and a half hours to. So he a $30,000. Oh, he gets that. I'm talking about this job that he commutes four and a half hours to. So he makes $120,000. Right.

And what do you make? I make $80,000. Okay. All right. And what does he do for a living? He's a marine surveyor, but it's a specialty. He does work for the government. It's a specialty position that isn't – can't do it in just any town.

However, he can come to the Tampa area if someone leaves that position. Okay. So he works for a company that's in that industry. That's probably one of the very few job sources for this career, right? He's actually in – he works as a civilian with the military. That's what I mean. Yeah. Yeah, exactly. Oh, he's a civilian employee of the military.

Yes, sir. Oh, well, that would be the employer. Okay. All right. Who's that? Wow. okay all right uh wow i um i always try to think what i would do and it would be very hard for me to live like this so i don't know what i would do uh because i'm such a weenie i'm such a wuss i have to be at home um and so i mean i travel a lot but i come right back. And, you know, I'm just not geared. I've got a friend who leaves every Sunday night and flies to another city

and works the whole week and then flies home on Friday. And that would just drive me bananas. I couldn't do it. So I understand that some people can do it. I just can't get my head around it. So I'm trying to think what I would do in this. And I'm not saying he's doing something wrong. I'm just saying my friend's not doing something wrong.

Your husband's not doing something wrong. It's just not what I can do, so I don't have the capacity. Well, we were very blessed when he was active that he didn't travel a lot. And then the position came open. Yeah, I'm not, again, don't take it as a criticism. I'm just saying, I'm just being. No, it's not for everybody, and we have it dialed in. Yeah, you've got it dialed in.

But I think I'm renting because I don't think you want this to be a permanent scenario. No, we don't. Yeah, I think we're renting. Yeah, can you not rent studio? Where is he working? South Beach. Oh, crud. Okay.

Miami. He's in Brickell. Okay. And you can't find anything cheaper than $1,500 for a studio there? No, that's water. That's everything included. Okay. That's probably the cheapest.

Yeah. And obviously, they don't furnish housing. Oh, listen. We furnished it. It looks good good and it was all from second hand or no no no i'm saying the the government that has hired him and asked him to be four and a half hours no no sir okay i don't yeah you're just yeah you're camping is what you're doing and i'm just going to keep my costs down and and not let this this is not a 10-year plan, right? So, you know, no, I'm not going to buy.

I'll just rent. It's aggravating, but it's part of the aggravation that is this job. And so, yeah, I'm just going to rent. There's times to rent and there's times to buy, and you really need to be putting down roots to buy, and he's not putting down roots here. Allison is with us in Washington. Hi, Allison.

Welcome to the Dave Ramsey Show. Hi, Dave. Thanks for taking my call. Sure. What's up? So we are on Baby Steps 4, 5, and 6, but my question is we kept our first house as a rental, and it still has a mortgage on it, And I'm wondering if we should consider that more like a debt in Baby Step 2 and put everything towards that instead of putting more into our retirement

and things like that at this point. Well, more into your retirement wouldn't be because you have debt at Baby Step 6, which is this rental, and I assume you still have your home mortgage, right? That's correct. Okay, so 15% is what you put into retirement at baby step four. Five is working on kids college and six is every other dollar we get our hands on. We start throwing out real estate debt to get rid of us. Now, all things being equal, if their mortgage balances are similar, I'm going to pay off your home first. If the rental is a

tiny little debt, you want to go ahead and knock it out and then pay off your home. That's okay. So what do you owe on your home? We owe about $230,000 on our home, and we owe about $108,000 on the rental. Okay. And your household income is what? $150,000. Okay. Yeah, I'd probably go ahead and knock the rental out first, but it's a baby step six item.

And so any extra money you get that you want to throw at real estate, knock the rental out, because you're going to knock it out pretty quick, what, three years, two years, something? Yeah, three years is our goal. Yeah, and then you've got all that rental income at that point, because of the cash flow like a bandit with no mortgage on it, right? So all that cash flow flows towards your mortgage then, and the next goal then is to get the mortgage paid off. So, yeah, because it's substantially smaller than your mortgage, I'm going to put it in line in front of your mortgage in Baby Step 6.

That's always what we suggest. Again, if it was $180 and your house is $230, probably going to pay your house off first. But because it's half or less than half, then that's what we'll do. Sharon is with us, and Sharon is in Florida. Hi, Sharon. Welcome to the Dave Ramsey Show. Hi.

Thank you, Dave Ramsey. How are you? Better than I deserve. How are you? Good. Thank you. Okay. How are you? Good, thank you. Okay, so I have about $15,000 in credit card debt and about $90,000 in student loans. So I'm focusing on doing the snowball effect and more focusing on the credit card debt right now.

And my question, well, yeah, I have a lot of questions, but I'll just go with this one. What's your take on settling credit card debt? Because I heard that it still kind of looks bad on your credit report. Yeah, well, I mean, if you're so broke that you can't pay your bills and you're in default on your credit cards, what does your credit matter in the discussion? Okay. It doesn't.

So how far behind are you on the credit cards? How long has it been since you paid on them? I'm paying off. I'm doing the snowball. So some of them are a couple, like two years. Honestly, like some of them are in collections. Yeah. So I'm just focusing on doing the...

So you quit paying them monthly, the correct amount, and instead you're just paying them off as you get to them. Yes. It had to do with medical stuff that I went through as well. I have medical debt as well. Okay. So you have a bunch of bad debt. Yeah.

How much? Like I said, like $15,000, I think. $15,000? Yeah. And your household income is what? Right now, I don't own a house. No, household income. Oh, sorry.

It's about $20,000. Okay, so you're single. Yes. And how old are you? I'm 36. Okay, all right, good. What do you do for a living? I have different side jobs that I'm working on because I was going to school to get my graduate degree. So I just pretty much kind of do a lot of things yeah so what's your what's your when are you going to be getting a job that makes you a lot more that's what i'm after uh right so i actually have an offer right now and i'm you know just looking into the seat about that job so that should be a lot better okay all right yeah because we've got to get your income up kiddo you're starving

to death right okay so yeah let's get that offer on the table and get it wrapped up um and so if you're making sixty thousand dollars a year fifteen thousand is nothing you'll be able to just plow right through it you do want to get all these bad debts in writing as to what you owe them before you pay them but i think you'll be able to just pay them uh if you got a big one and you want to settle it for pennies on the dollar or they offer, that's fine. Your credit's pretty much blown up anyway. I don't really give a crap what happens with that. So let's just get the debt cleared so youig and ryan are where there's hey guys In the lobby of Ramsey Solutions on the debt-free stage, Craig and Ryan are with us. Hey, guys.

How are you? Good. How are you? Super excited. Welcome, welcome. Good to have you guys. Where do you live? Cypress, Texas.

Just outside of Houston. Love it. Fun. And all the way up here to do a debt-free scream, how much have you paid off? Just over $402,000. All right. And how long did this take? Five years and 10 months.

Good for you. Wow. And your range of income during that time? We started out at a combined income of about $180,000 per year. And then over the course of time, through our giving and being diligent through our stewardship, we now have an income of $320,000. What do you guys do for a living? I'm a teacher.

And he's, go ahead. I sell John Deere tractor equipment. And been a good year, huh? It's been a good several years. Well done. Well, congratulations, you guys. a good several years. Well done. Well, congratulations, you guys. Wow.

Excellent, excellent, excellent. So I'm guessing with the length of time and the amount of money, maybe you paid off your house. Yes. I'm looking at weird people. Yes. Way to go, you guys. Congratulations. Thank you.

How old are you two? 34. And 32. Whoa! And a paid-for house in freaking houston texas what's the house worth 350 350 yeah all right so tell me the story what happened five years and 10 months ago that started this journey we were driving by a church i believe it was in our neighborhood we don't go to it but it's a different church in our neighborhood, and I saw an advertisement for it, and I just suggested to her, there we go. We weren't, we didn't feel like we were struggling,

but you know, after we started taking all the classes, we knew we were throwing money away, so. And we were getting ready to build the house that we paid off. We had just signed a contract on the house. We were nervous. We almost backed out of it, actually, because of it. Yes, we were nervous, wondering if we could afford it, if we were getting in over our head. And we sat down, and we got into the class and realized we were eating all of our money at restaurants.

And so we got a handle on that and realized we were eating all of our money at restaurants. Okay. And so we got a handle on that and realized that we were able to afford the house. And over the course of years, just became gazelles and threw everything we had at our prior debt and then the house. Okay. Wow. So you're in your late 20s at this point, right? Yes. And you look up. Did you think we're going to go ahead and pay the house off and everything?

Did you think about that at the time, or were you just thinking about getting rid of the other debt and hopefully we can get to the house? I mean, once we got rid of the other debt, that's kind of what made us see the light. Baby steps took you right there. Yes. Exactly. Yeah, that was our driving force was wanting to get rid

of the house that's so fun that is so fun prior to all of that did you ever think you'd have a paid for house in your mid-30s no no always thought i had a car note too but yeah we were we were crazy car people and we loved new cars and that has changed all um we since have two paid for uh nice vehicles and no car notes love it yep way to go you two very fun how's it feel amazing yes it's so freeing just to know that you can go and live and give like no one else um There's just so many options, and knowing we're preparing for our future and our kids' future and changing our family tree. Yeah. How many kids have you got?

Two girls. Okay. Did they come with you? Yes. All right. Very cool. Do they understand everything that's going on? How old are they?

Five and seven. Oh, they've got a little handle on it then. They know no credit cards, no credit cards in the house. They know debt is bad, and they've been telling everybody that we know that we're coming here. Well, that's good. And they have matching shirts like us. I love it. If you can't see on your radio, if you're not watching on YouTube, it's Live Like No One Else,

so that later you can live and give like no one else t-shirts that they've got. Well done, guys. Very, very cool. What do you tell people the secret to getting out of debt is? Stay focused. Yes, staying connected. That was one of the big things with us is staying connected. We have taken seven classes over the time. Two we were just uh students and then we've led five classes wow over the time of our um journey and also two legacy classes in between wow thank you amazing we we love the program and so we want to share it with others and we love to talk to anybody we can about it well thank you so much yeah a guy in another hour doing a debt-free scream he said i think that's baby step eight is you have to teach the

class for sure it's definitely fulfilling yeah well it is and it also keeps you on track it does very accountability there's nothing like two in the radio show every day to keep me on track i don't have a choice i have 17 million accountability partners i can't i can't screw up now well done you guys very very well done who are your biggest cheerleaders outside the two of you you i'm honored to be on that list well done you guys yep okay we got a copy of chris hogan's book for you everyday millionaires and uh you are definitely that or we'll be very soon at the rate you're going. We're very close.

That's awesome. I'm proud of you. All right, let's introduce the kiddos. Their names and ages again? Kayden, five, and Kelsey, seven. Pretty little girls. Awesome. Thank you.

Ready to go. I love it. All right, this is good stuff. House and everything. Mid-30s. Yeah, they did that they did that for you guys are heroes i'm so proud of you four hundred and two thousand dollars paid off in five years and ten months making 180 to 320 craig and ryan kelsey and caden count down. Let's hear a debt-free scream. Five, four, three, two, one.

We're debt-free. I love it. Well done, you guys. Very well done. Wow. Absolutely beautiful. Fabulously done. guys very well done wow absolutely beautiful fabulously done life is good well that's how you do it man you wake up in your mid-20s and you say i don't want to have a house payment even and then by your mid-30s you you don't. It can be done. That's amazing.

Our question of the day comes from blinds.com. They have a 100% satisfaction guarantee. Means even if you mismeasure or pick the wrong color, they'll remake your blinds for free. You get free samples, free shipping. And with the new promos they run every month, you'll save even more. Use the promo code RAMSEY to get the best possible deal. Lynn's in Kentucky. I've had my head in the sand for years about our debt.

I'm now ready to work on it, but I'm worried about the old debt from collections. It's so overwhelming. When I list our debts, should I focus the snowball on all debt, including collections, or just current debt? That's a good question, Lynn. I always recommend you do two debt snowballs. You do a debt snowball first with the debts that are current and you're paying payments on because getting those paid off then frees up more money to work on the others. The ones that are in default and that are bad debts, you're not paying on them anyway.

So just let them sit there in a second debt snowball. So you work your first debt snowball and clear off all the ones you're paying payments on and that you're current with that gets rid of all those payments that debt snowball is done then you're going to work down the other list differently because you're going to call one the first one the smallest one and get in a get an agreement with them on what you're going to pay to pay it off, settle it or whatever. Get it in writing and no electronic access to your checking account, and then you send them the money, and you have it in writing, and you have a copy of the receipt where you paid them,

a stapled hard copy in a file for the rest of your life. And then you go to the next one, and then the next one, and then the next one. And you may have two or three of these working at a time, but you're paying these all off in lump sums. And so when you've got a $2,000 debt on that second debt snowball, you know, you're going to call him up and say, you know, I know you say it's $2,000, but when I quit paying, it was $800. You sure have added a lot of fees to this. I'll offer you $800.

And they'll say, okay, we'll take $800. They probably won't say it like that, but you'll have to work it out, and you get an agreement struck of what they will take for that debt, and then we'll take $800. They probably won't say it like that, but you'll have to work it out, and you get an agreement struck of what they will take for that debt, and then you send them $800. Do not set the second snowball up on payments. Do not set any of those old bad debts up on payments. Settle them all in lump sums in writing before you send them money and no electronic access to your checking account.

This is the Dave Ramsey Show. well if you haven't heard there is a new podcast in the top 10 it's called borrowed future and it's all about the epic student loan crisis that we have the epic debacle that is this student loan mess that congress continues to fund yeah if you haven't heard these episodes, they are amazing. Hundreds of thousands of downloads on these episodes. The seventh one of eight lands on Monday, or just landed. I'm getting lost in my days now. I can't remember which it is, but it may be the last one coming up this Monday, actually. But if you follow them all the way through, I've been listening to them ahead of time because obviously I hear them before they get posted, right? But they're absolutely amazing.

It's a new endeavor for the Ramsey Network. We've not done this type of podcast before. They've always been one of us just yakking one of the Ramsey personalities, and this is, I guess, a more traditional documentary style with George Camel being the host of the thing all the way through, and we're interviewing whistleblowers and people inside the industry and exposing how predatory the industry is and how out of control it with $1.6 trillion in student loan debt, and 25% of the student loan debt holders are in delinquency of some kind, default or delinquent. One-fourth are screwed up, in other words. Just to give you a little perspective, the average mortgage or the delinquency rate on mortgages is not 25%. It's 1.3%. 1.3% of the mortgages are behind.

25% of the student loans are behind. Well, you actually have to qualify and, like, have a job and stuff to get a mortgage to get a student loan you can borrow the amount of a mortgage 150 000 and be 18 years old and you don't even have to fog up a mirror you don't have to have a job you don't have to have a credit score you don't have to have anything you just walk in and we taxpayers are guaranteeing your loan for you because we believe that much in ridiculously stupid movements of education i mean it's it's oxymoronic to me that we're stupid about education in this nation it's a paradox how are we stupid about education it's ridiculous and so we overpay we study the wrong things things that are

not applicable in the marketplace where you can't make the money back that you spent there's no return on investment for the education and parents and counselors and colleges and universities and congress and banks are all just going along with it. Banks are making a killing on it. Universities are making a killing on it. They have this unfettered supply of money. Hey, listen, let me tell you what happens when you have an unfettered supply of money. Prices go up. Duh.

Well, of course, university. I can't believe how much these greedy university you've been shoveling money in there like it's a coming out of a fire hose and it's your fault it's my fault because we haven't thrown people out of congress that wouldn't get rid of this thing this is a created problem it was this is what happens when you have government intervention in an economic system you screw up the economic system and that's exactly what happened here created an absolute monster absolute ridiculous so borrowed i can go on for days about this borrowed future podcast be sure you're listening to it uncover Uncovering the Student Loan Crisis.

You'll learn all the details about the underbelly of this thing. And the last couple are the best because they start telling you exactly how to avoid getting student loans to start with and how to get out if you've gotten them. And so we actually have a solution to the problem. Number one, Congress should stop allowing the loans to be made. The government should stop insuring student loans. If you have senators and congressmen that are running for president, you left-winger dingers out there are saying we ought to forgive the student loans. It is intellectually dishonest to suggest forgiving them because they're so bad,

they're so onerous, they're destroying the little millennials, and so we have to forgive them. And I want your vote, and I'll forgive student loans, but it's intellectually dishonest to say that if you're still making the loans, you doofuses. That's bass-ackwards, people. You need to stop making them before we can even have the discussion of starting to forgive them. That's thing one. Then thing two is we're going to stop the need for student loans

because we're going to show you how to actually get a quality education and actually pay cash for it in any possible scenario. So if you know how to go to school debt-free and you don't then you qualify as stupid after i show you how and anthony o'neill with his number one best-selling book debt-free degree shows you how and then number three i'm gonna still be here and i've been helping people get out of student loan debt for decades now and i'll still be showing you how to get out so no more new ones because of congress no more new ones because you're not going to borrow and i'm going to get you out of the ones you're in this will actually solve the problem i don't need a policy think tank to figure this out so we have declared war

on this crap and borrowed future podcast is part of it we're giving away ten thousand dollar scholarship at anthony O'Neill. It's the $5,000 and two $2,500s. $10,000 worth of scholarships. We've got a free scholarship search tool at anthonyoneill.com. 10,000 scholarships for your kid to search. College calculators are there. We've got all the tools.

We're going to work this and work this and work this and work this. And we're going to punch Sally Mae in her big, ugly, wart-infested nose. I mean, this is ridiculous. It has got to stop. So check out episode five dropped this week. I'm catching on now. That's what this says. And so that means this coming Monday, episode six will drop.

Thank you. It's right here on my notes if I would actually look, you know, instead of just ranting. But every time I get into this, my blood starts boiling. So I love this podcast, though. It's one of my favorite things we've done in a long time. And if you've not checked it out, jump on your Apple Podcasts or your Google Play or wherever else, Spotify,

wherever you listen to your podcasts. Borrowed Future. There's eight episodes. You will be spellbound all the way through. It's worth doing. Five-star reviews everywhere. Hundreds, thousands of them, actually. We're at over 5,000 reviews now.

All right, Chris is with us. Chris is in California. Hi, Chris. Welcome to the Dave Ramsey Show. Oh, my God, Dave. I can't believe I'm talking to you. I can't believe I'm talking to you. What's up?

I have listened to you since the recession, and I want to say when all those people were losing their homes, you did such a good job with them. Thank you. I will never forget that. Thank you. So here's my question. I was renting a condo, and the landlord is selling.

The condo is $190,000, and my emergency fund is around $10,000, but I have $84,000 in an individual brokerage account, and I have a little less than $900,000 or $800,000 in 401K and Roth. Way to go. So, you know, my goal before the house was sold is to become a millionaire, and I didn't realize how close I was to becoming a millionaire. I think you're there um you think if so if i buy the condo it will

put me over the million dollar mark well no i mean your net worth is not going to change by buying the condo unless the condo is worth more than you're paying for it no i doubt it is i think what they got at price is probably what it's worth. So you would buy it for how much? $190. Okay, and you put the $84 down, right? Well, I was thinking of putting, I don't want to put, I just want to put the 20% down.

I'm afraid to let the whole $84. I don't know. You have $900,000. Yeah, I guess you're right. You're going to be okay, kid. How old are you? I think 54. Okay.

Yeah, you can't get at the $900,000 without any penalties, so we'll leave it alone, right? Yeah, I wasn't going to touch any of the Roth. I wouldn't take your emergency fund, but I'd take every other nickel I can scrape together out of the corner of the couch and out of that brokerage account and throw it down. And let's get this thing paid off as soon as possible but yeah I would buy this condo yeah you've done a great job way to go awesomeness proud of you good work I like that that puts this hour of the Dave Ramsey show in the books our thanks to James Giles our producer Kelly Daniels our associate producer and phone screener. I'm Dave Ramsey, your host, and we'll be back.

Hey, it's Kelly, associate producer and phone screener for The Dave Ramsey Show. This episode is over, but if you heard about a product or service and didn't have a chance to write it down, don't worry. We list everything that is mentioned during this episode in the podcast show notes section. Thanks for listening.