The Ramsey Show - App - This Is Your “Prescription” for Building Wealth (Hour 2)

Episode Date: April 4, 2024

Live from the headquarters of Ramsey Solutions, it's the Ramsey Show, where we help people build wealth, do work that they love, and create actual amazing relationships. Rachel Cruz, Ramsey personality, number one best-selling author, host of The Rachel Cruz Show, and co-host of Smart Money Happy Hour, two of the Ramsey Network's more popular podcasts and YouTube shows. Also, my daughter. She's my co-host today. Open phones at 888-825-5225. Tara is with us in Louisville, Kentucky. Hi, Tara. Welcome to the Ramsey Show. Thank you. You ready for my question? Oh, there you are. You cut out a little bit. Oh, I'm sorry. I'm staying as close to a window as I can. You're great. Are you ready for the question?

We'll try. Okay. We're looking for advice on what we can do for financing for flipping houses. We currently use our home equity line of credit for the purchasing and remodeling. But, of course, that payment gets a little high. So we're just looking for some ideas of what to do. Okay. I've probably done 1,500 or 2,000 flips in my life.

That's what I used to do for a living before I went broke because I borrowed money doing flips. So for 35 years I've taught people not to borrow money as a primary way to lower risk and create wealth. I don't borrow money, and so I'm not going to be able to help you borrow money. Okay. Then what do you, I mean,

do you just straight out advise just cash for yes flipping a house yes okay and here's there's a lot of reasons why okay um when you use financing to purchase a house that you're going to flip you're not as careful as when you use money out of your bank account to purchase a house to flip. When you are using financing to do the renovation on the flip, you're not as careful as when you're pulling your stinking hard-earned money out of your checking account to do the renovation, and you end up spending more on the purchase, more on the renovation, thus your margins are lower. Oh, and then when you get ready to sell it and interest rates tick up from three to seven

and the market slows down dramatically and you're sitting on this thing with payments, you become what's called a motivated seller and you give up the rest of your margin. So your margins are destroyed when you do flips for those three reasons with financing so i would go a lot slower buy a lot smaller buy something seriously junky and tiny and flip it with cash out of your pocket use every bit of the profits from that to do that to upgrade your flip to the next to upgrade your flip to the next one upgrade your flip to the next one and upgrade your organically grow your cash base with profits to increase the quality of the flip that you're doing because what you are doing causes more

people to go broke than it prospers more people including me okay so i'm really scared for you because the thing that has to go through your mind when you're doing these deals is that this is all going to work and it never in real estate i've done thousands of transactions it never works exactly the way you thought it was going to yep that's exactly right and you know Tara my husband just even this last year he's kind of started he's done three flips yeah and and you know and we've cash floated and you're right you and he's good at real estate and he does it so I can't I can't take any credit but yeah there's like you know it's a state sale there's dead rats in the house I mean it's it they're not pretty properties but then when you

go and what you're saying you make the selections and it's us making the selections out of our own account you are like okay what can we do here here to save money here I mean you're thinking through everything we brought the kids out to do the yard work last weekend over Easter to help move some stuff before they went through and like tore out the bushes and you know I mean you just think about it different it's just and it's a slower process it's not as fun and flashy but there's there's so much less risk and if something were to happen you're okay you're okay because you're not you don't owe a bank something you know like it just goes back to the options like we talked about the last hour i mean let's pretend there was a fauci pandemic or something like that and the market

just froze like a deer in the headlights and nobody's leaving their home and they're cuddled up in the corner with their mask well and what happened with you was that you had so many of those going and you were good at it yeah and because of that you mac you kept building on it and making a bigger bigger risk and then when i had a million seven in finance flips at 24 years old i owed the bank a million seven remind it remind everybody because that was that was 1984 decades ago because it's a million seven now for some people okay so it would be eight million now okay yeah so i had the equivalent of eight million dollars financed in today's dollars under flips at 24 years old in 1984. It was 1,000,007. 1,000,001 with one bank. And this is how I learned not to borrow money.

Yeah. And I had 30% equity positions in almost every one of them. I was not laid on a single note. So what happened, Dave? What happened to your little house of cards? The bank got sold. Small town bank doing business with me. They knew I knew what I was doing.

My family had been in the real estate business. I've got a history, family history of knowing what we're doing. All of a sudden, some bozo in Atlanta instead of Nashville is making a decision. And he looked down and said, a 24-year-old owes us a million three. Have we lost our minds as a bank? Answer, yes, and they called our notes, which they have the right to do with commercial paper. It has a call provision in it if they don't like the quality of collateral, and they suddenly just declared that they didn't like the quality of their collateral anymore,

and now I've got to come up with $1 with a million three and I'm 24 years old. It's all tied up in real estate. And I probably got 30,000 bucks in cash because I was a freaking genius and had it all figured out. Now there's your tick tock deal right there. You tick tock morons wanting to flip houses. So there you go. And so that's exactly what's happening now that

and i spent the next three and a half two and a half three years of my life losing everything i own and so the year rachel was born we end up filing bankruptcy at the bottom of it lost every stinking thing one year i made 250 000 that's 20 000 a month in 1984 dollars. The next year, my taxable income was $6,000. I spent the whole year selling stuff to avoid foreclosure or being foreclosed on on the way down into bankruptcy. So yeah, trauma. I'm a trauma survivor. So that's it.

And so Dave don't borrow money. When the borrower is slave to the lenders in the Bible, I think God's smart. I think God knows something I don't know. And I don't borrow money when the borrower is slave to the lenders in the bible i think god's smart i think god knows something i don't know and i don't borrow money anymore so all that to say tara i you know the wrong guy no but no you know on the right guy if some whoever whoever told you to call over here i think they set you up but um but the uh but yeah i want you to go do flips i mean my son-in-law does i'm a daughter's husband's sitting right here. And I taught him how. I taught him a lot. How to go get foreclosures.

Not everything. I taught him how to buy foreclosures and buy real estate. He worked running our Ramsey portfolio for a lot of years and still runs it. And he's using the formulas right now that we talked about back in those days. And he's paying cash. So I'm not against flips flips but do it with cash and you make way better decisions all the way across the board and you don't turn yourself into a motivated seller and you won't hear any of that on tiktok i can tell you this is the ramsey show

rachel cruz ramsey personality is my co-host today Glenda is in Grand and Cedar Rapids Iowa hi Glenda how are you I am good how are you guys thank you for accepting my call sure how can we help okay just to get it out of the way we are FPU uh 20s so just to start that with my question i i just wanted to make sure you knew that you're a beauty school dropout okay we are absolutely okay so my question is we've always heard that you say mobile homes go down in depreciation they do we agree if you're in debt and you own your mobile home and the land, but not in the ideal living situation, should we sell to get a house or stay? We have animals, so we can't rent, and we have many, many animals.

We take care of my parents, and my dad has dementia, and it's also affecting our marriage of where we're at. I'm sorry, what is affecting your marriage about where you're at? We have family that live out that way. The family, one, could be next door. There's drug use. So you want to move away because of that, too? Yeah, yeah, absolutely, absolutely.

I just don't want to be in that kind of environment. Just making sure I understood how it was affecting you. Yeah, I got i got it yeah you want to be around people that you want to be like like you say all right so what kind of animals have you got uh chicken ducks dogs cats rabbits and how many acres do you have now we have have close to an acre. One acre? Close to it, yes. But you're just in the country, so you get away with all that. Yes. Yeah, yeah, yeah. These aren't city chickens, okay.

No, no, no. These aren't millennial yuppie chickens, okay. No, they're not. The eggs are great. Yeah, all right. Yes. All right, so country chickens. Oh, my gosh. How much could you sell everything for glinda if you sold

it what would it bring we're guessing about a hundred thousand with the land and the mobile home together yes because we did what do you owe but it's nothing we own it outright my parents gave us the land we bought the mobile home so sell it and go buy something sell it and go buy something for 100 grand oh should we do that for a house though because i don't want another mobile home no i don't you're not going to get another mobile home it kind of defeats the purpose no but you could take out you might not a mortgage it might not be much of a house but how much other debt have you 50,000. On what? Oh boy. Here we go, Dave. It's averaging 50,000. My numbers, I don't have exactly with me, but it's about 13,000 on a car, which we're hoping to pay off in the next year. We have about a $17,000 personal loan because I got plastic surgery. I know, don't yell at me. We have about, I'd say about $12,000 in student loan, just miscellaneous debt, anything else

he's... Okay. Yeah. Okay. So what I would do is go out and start shopping for a very small or not such good condition home that is stick built that will go up in value as you fix it up on a piece of ground and you know and try to make a move that way um okay now then the other options are okay because whatever the value of this mobile home is in five years can you and i agree it's going to be way less than it is now oh absolutely okay so you're causing your money to go backwards every day you keep this and you're

living next to uh family drug addicts and so there's a lot of reasons to move um but every time we do something there's always uh there's the pain of staying there next to the mess and the pain of staying there with a mobile home going down but the pain of moving to get your family away from those two things might be no chickens i i would be fine getting away from it yeah and so the animals you may be you may have to cut the animals down to a level that you can rent for a little while write a check and pay off everything and uh have a lower animal level and i love animals but you got to make choices in these situations and it's greater in this situation obviously from a financial and just yeah getting away from the mess to be able to say we have peace over here and that may mean eliminating selling off yeah so let's pretend that we could write a prescription for you if we were the doctor

okay and here if you go fill this prescription you will be wealthy okay so you sell the place you go rent something with fifty thousand000 in the bank and zero debt, and you straighten your act up and go back through Financial Peace University, get on a budget, increase your incomes, and let's pile up cash on top of that 50, and two years from now let's buy a nice place for 150 because you have no payments except a little rent payment. It's going to cost you some

animals and you're going to have a lot of peace in your life because you have zero debt and zero drug use next door and you're going to be cleaning up you looking in the mirror and you're not going to say i'm a dropout anymore you're going to go back through financial peace university and i'm going to pay for it and if you go do all of that stuff your life is going to go back through Financial Peace University, and I'm going to pay for it. And if you go do all of that stuff, your life is going to be such a completely different place four years from now, five years from now than it is now. But if you go do one of those things, it's not going to work. You're going to be right where you are. You can't just do part of this.

You can't take – if the doctor gives you four prescriptions say i'm just going to take one of them and then gripe because you're still hurting yeah you know i'm still ill my health is still bad so you're going to have to do the whole thing glinda and if you do that honey you can do it i the lady i'm talking to is not dumb you're smart you can do it you just have not chosen to do it yet so now it's time to choose so hang on we'll help you if you want it if you want financial peace we'll give it to you you go back through it this time be serious like your life depends on it because honey it does the quality of your life depends on you getting your act together and dump that stuff man and let's

make the move make it happen boom boom boom boom boom You don't have to be a mess. You're choosing to be a hot mess. Change the choices. And you can do it. You're the kind of lady that can do it. You got the stuff. I'm amazed what happens when people follow through on all that. When they do the whole thing. Yeah.

Yeah. I know. And how pitiful the results are when you just do part of it. Yes. But the pain is you're giving up things in the present that you feel like, oh my gosh, well, we need this and that. It's the devil that I know. It's that. It's the mess that I know.

I'm used to my mess. And the thing is, is that you can get back to part of the life that you're sacrificing right now and the things that you love. Same with a car, for instance. I know a car is not an animal, but we, you know, we tell people sell the car. You can get that car again one day when you pay for it. Like, it's not like you never get that car again, but do it the right way.

And even like think, you know, something like the animals. It's like, yeah, maybe for a season, you don't have animals, but if you really miss that, then you work towards a life to get them back and to be able to say, yeah, we want that life again. And that's the beautiful thing about it, but you're just doing it the right way, which the order is really important in that.

To find the success and to do it well. Yeah, that's exactly right. Yeah. Me and you didn't grow up on a farm, but your mom did. And her emotional attachment to animals is almost zero. Oh, my gosh. So they always leave because you you sell them that's what you do you're on a farm that's what you do and so the the need to

you know so she still does not grasp the idea that that our dogs are our part are one of our children she can't get that she's just like you are a weird man and so um you do love a dog i do love a dog and i love babies and dogs i know That's what a lot of people don't know. Internet. Y'all should know that. Dave can be harsh. Dave can be harsh. But not to babies and dogs.

But when your dog is, yeah, you came over when we had to put an awl down and dad laid in the floor with our lab and cried before we put her down the night before. You really are oversharing. You do. What? It's beautiful. It's so great. He does.

He loves dogs and babies. That's my grand dog for 10 years. I know. It was terrible. It was a good dog. I'm so great. He does. He loves dogs. And babies. That's my ground dog for 10 years. I know. It was terrible. It was a good dog. I'm so sad. Losing a dog is terrible. Terrible, terrible. So, we want you to be able to get back. We're not animal haters is the point. But sometimes you've got to go, nah, 16 cats. Something's got to go.

And that's 15 of them. Or 16. In the case of a cat. Not cat people, but I don't know. Maybe we can get there. Oh, here we go. The hate's going to come pouring in. I love it.

This is The Ramsey Show. Rachel Cruz, Ramsey personality, is my co-host today. open phones at 888-825-5225 Kayla is with us in Fort Worth Texas hey Kayla welcome to the Ramsey show hi thanks for taking my call sure how can I help well my husband and I were trying to figure out how to increase our income so we can meet our monthly expenses and then also pay debt down. Kind of feel at a loss at the moment. So, total debt we have is about $37,000. We need about $7,000 a month just to pay, meet our living expenses, and then make minimum payments just on card balances right now.

On $37,000? Yes. You don't need $7,000 a month to do that. What in the world are your living expenses? So we're just looking at the expenses uh, expenses, like paying the rent, just living all of that. And then, um, paying down debt, just the expenses that we have trying to. How much, how much are the, do you know how much the, um, minimum payments are not, not living expenses, just the debt payments? Um, the debt payments, there are really many more right now so we have um the total credit card

debt is seven thousand um for those are like five hundred limits one's three thousand two are a thousand dollar limit and those are about maxed out okay but how much money do you guys need to keep those current per month what's the minimum payments on your $37,000 worth of debt equal per month? So for the card payments, it's just $650 a month minimum. Okay. Then we have another $6,700 a month on a larger loan of $21,000. Okay. And then, you know, just living expenses on top of that and the car payments. Okay. Wait a minute. It was only $28,000. You said you had $37,000 in debt. How much is your car payment?

Car payment is $250 a month. We owe $9,000, and it's worth about $10,500. Okay. Okay. All right. So, yeah, you're getting up to $17,000. So $2,000 a month covers your minimums. And you need $5,000 a month in addition to that to live.

$3,000. Yeah. How much is rent? Rent need $5,000 a month in addition to that to live. $3,000. Yeah. How much is rent? Rent is $2,600. $2,600. Okay. What's your household income? My husband just started a new job a month and a half ago.

It's car sales. And he just started. Last month he made $1,400 total. And this month, halfway through, he's made $1,600 just in the half month. So he's doubled that at least. And people keep telling him at work that come the third month, the back end stuff rolls in and that it should not be hard for him to do about $10,000 a month. And he works hard at it.

He's there six days a week at least. How much are you working kayla we have three kids at home five and under and the little bit i do is like 180 a month it's just content writing yeah it's not much so your your your problem is your husband starting a new job and then he make isn't making any money yet not correct That's your real problem. Yeah. They're like, we're living on a prayer, waiting until it comes in. What was he doing before? Last year, he had quit his job of 17 years at Costco.

He was working there as a supervisor. He quit the job after two or three years of calculating risks. He took out the 401k that he had built up from that to move here to Fort Worth and to start a business, a photography business that he had wanted to do. And he made sure there was about a year's worth of living expenses from that to live on, but nothing had come from it. So he went out and got a job a couple months ago to make sure, you know, we can get to the point where we can make the, you know, we didn't have any credit card debt at that point. He paid all of that off. Is all the savings gone? Yes.

Yeah. So the bottom line is, Kayla, you're terrified. A little bit. This is pretty scary. You got little babies at home and no money to eat with yeah pretty much yeah i'm sorry hon um and he's not a bad guy he's out there working and trying no he's nobody's nobody's throwing him under the bus, but this is a scary situation.

Do you have family around Kayla at Fort Worth? No. No, they're actually back on the West Coast where we moved from. Okay. Okay. Are you guys in a good church? Yes. Good.

Yeah, we got connected really good. Good, because you need good community around you while you turn this around. So what we need to say out loud, and he says it with you too, is that I don't really care what the guys at work say. I care what actually happens. And so if he doesn't get his income up very rapidly at the car lot, he's going to be doing something else yeah and he's that's a struggle he was thinking of going back to uh costco but like right now what he just made in

this half month so far that's about the same excuse me that he was making before yeah and and what it may look like too kayla is working nights and weekends and supplementing some of this band. I mean, because even the margins of just living and you guys paying rent and eating and all of that, right. Regardless of paying off debt, just I'm not worried about you paying off debt right now.

I'm worried about you. Right. So that's what I'm saying is I think that maybe for a, for a transitional period, there's probably a reality that he's going to probably get a second job until, which is the prayer that this third, fourth month hits with his new job. And then you're able to say, okay, good. Now we have a foundation under us and this is what we can go for. There's two things that will help you with the level of fear, the terror rising up in your

stomach, up into your throat. Okay okay thing number one is you need to carefully prioritize the money that you do have and i'll do it for you right now are you ready we call it the four walls when you're in a crisis and you're in a crisis you got to keep the four walls of your house up and that means first number one food before you buy anything else, you buy groceries. Not eating out. You guys can't afford to eat out. Before you do anything else, you buy groceries without guilt.

It's your primary job before you do anything. The second thing you do is you keep the lights and the water on. Utilities. The third thing you do is you pay the lights and the water on, utilities. The third thing you do is you pay the rent. Okay. Before you do anything, you do those three things. And I think you've got enough to pull those off already. Yeah.

Okay. I would say so. And that means that some of the rest of this may not get paid this month because we made choices of what was important versus what was less important. And then as we get on down through there, I'm going to pay a car payment because I need transportation. But MasterCard and student loans and protecting my credit are not on the list of things I worry about when I'm in your situation.

Okay. You're just going to get behind with them. If something has to be behind, choose the right thing to be behind. Okay. And that's called unsecured debt. That's what the right thing is. And it's a bunch of other miscellaneous crap that's in your life that you just go we just can't do that because we bought food lights water rent car

food shelter transportation clothing you probably don't need any clothing you're probably okay for a while but you just get by you just get by you just get by you just get by and then his income comes up or he changes jobs and his income comes up and we start to make moves on these other things later first catching up on anything that's behind and later doing that but if you'll take care of food shelter clothing transportation and utilities before you do anything else your your peace level will increase. I know I was in your situation once. Okay. Then secondly, the thing that goes with that is to budget.

And again, that's just on paper, on purpose. Use the EveryDollar app. Work with your husband. And both of you look at these numbers every night. We have enough for food. We have enough for lights and water, we're going to pay the rent right here, we're going to pay the car payment right there.

And when you're looking at the plan and you're executing the plan in a forced ranked order of priority, it is going to give you peace, a lot more peace than you have right now because right now you've got chaos on top of shortage. Yeah, and Kayla, stay on the line. Christian will pick up and we'll give you a every dollar premium code so that you can connect this to your checking account and you guys and yeah and for it to be real time um but that's one of the best things that you guys can do you stay right on top of it and you call us again if you need help hon this is the Ramsey show every dollar is our world-class budgeting app that helps you manage money the

Ramsey way. It simply works wherever you are, iOS, Android, online. You can start every dollar for free and immediately see where you stand with your money. Get organized. If you're new to every dollar, we'll show you a long-term financial roadmap, track your net worth, debt-free date, retirement date, baby steps progress, and of course, help you keep up with your money. And we'll coach you along the way. Download the free app for iOS, Android, or go to everydollar.com and get started on the desktop. George and Jade will be hosting a budgeting live stream on YouTube on the 11th of April, and they will be answering the top

questions we get around budgeting. How do I get started? Can I budget and still enjoy life? Dealing with changes that come up through the month and how couples can budget together. Stay tuned for more details. If you have budgeting questions that you want answered on that live stream, feel free to do so. Just email them to us at ask at ramsey solutions dot com ask at ramsey solutions dot com okay so one of the best parts i love hosting with you is the generational difference okay you're like a classic boomer i'm a millennial and the generation below me is gen z okay yeah this i know yes okay okay so this so that we're gonna play a game dave try not to make a face try not to make a face i don't play poker for a reason this came out in cnbc.com

oh brother in fact we started off ready ready one in four gen z taxpayers say that they need a therapist now to deal with the stress of tax filing season. Additionally, 54% filing taxes of Gen Z, they were brought to tears in the past or expect to cry this year over taxes. That's fabulous. So I got one more. It's trauma. I got one word for you

of realizing taxes and they're and this is something that goes to therapy i love therapy i got one word for you vote oh my gosh how do we turn this into that well i mean where do you think taxes come from i know the people you vote for so try voting for somebody that don't like taxes okay yes but regardless of party you pay taxes huh regardless of party you pay taxes oh yeah i know yes i've been doing it a while sure some higher than others but never cried but we haven't hadn't hadn't seen a therapist for it but been been doing it a while. Anyways, we read that in a content meeting right before the show. And I just thought like, oh, no. We're crying.

Oh, no. I mean, the bar, you guys, it's so low. So low for what you cry about? Like the next generation, though. Like seriously, if you just go to work. And they do suck. Taxes are not fun. Oh, I don't cry.

I get angry. But you can do this. You can do this. I'm perpetually angry and angry. Okay. So for that, is it as a from a boot? not fun oh i don't cry i get angry but you can but you can do this you can do this actually angry okay so for that is it is it as a from a boot i'm even scared to ask from a boomer's opinion a boomer's perspective is it is it that we haven't prepped every generation for what it looks like from like a workforce standpoint uh the applications of being an adult like is it that the reality hasn't been talked about or taught or you know what do we think that is for real though if one in four

gen z said they have to go see a therapist because the amount of stress because a tax season you know there's a couple things possibilities there because we've got 1100 folks on our team and the vast majority of the people in this building are Gen Z. It's a lot of young people and millennials. And millennials. Yeah. We have a young team. There's a few Xers and a very few boomers in the building.

And so we've got a crew of these kind of people. And honestly, the people that work here aren't crying or seeing a therapist over their taxes. So I'm calling BS on the survey to start with. Oh, you're going to the source. I think that these two generations have more tough people in them than that survey indicates. That survey says the entire generation is a bunch of wusses, and that's just not true.

That's not my experience with Gen Z. I do find, and I've said this many times, and I said it on fox last night and it got all the hate people going again but um i was on fox business yesterday afternoon and so um but the millennials got trashed for being participation trophy living in their mother's basement all that crap being you know avocado, drinking, you know, all that crap. And then some of that same kind of stuff is coming on to Gen Z. And I am not a hater of those two generations because my personal experience inside this building

with the ones we have hired is quite different. And once they call in here on the air. Yeah. They call in the air. They're very mature very serious very focused very missional uh now i do i have observed on those two generations in particular that um there's very little middle ground they don't hang out in the middle uh they're either very serious very missional uh mature beyond their years charge the gates of hell with a water pistol or they absolutely suck

they're just horrible participation trophy live in their mother's basement useless entitled arrogant brats and so they're either the the best or they're the worst the ones that i that we were and they're great to interview because they'll just come into the interview and go, you owe me. And I'm like, I owe you where the front door is. Hit it. And the interview's over. Or they come in and go, put me in, coach. I'll charge the gates.

I want to do work that matters. And Ramsey does work that matters. And I want to be part of this team. And they're really easy to interview because boomers come in and they lie they fake it they act like they're one they act like they think you want they know they don't care they care so much much what you think that they they put on the chameleon you know it's a donkey dressed up like a thoroughbred yeah yeah and they they make you think but the gen z they don't give a crap what you think they just they just is what they is i love them i think they're awesome yeah

yeah and so i don't believe that number i don't think that that three out of four seventy five percent of the gen z are so wussified that they're sitting in the floor sucking their thumb crying over their taxes i think that's cnbc bullcrap okay well there you go i'm calling it i just don't do you observe that with those generations that week it's not a weakness it is i do think that the i do think that like your generation uh and and and older there there was more of a mentality of like you pull yourself up by your bootstraps you get to work you shut up you do the thing and you just you go go go where the pendulum i think has swung so far in actually tapping into some level of emotional awareness and comfortable with like okay what's really going on you know trauma in my past i will go i i seek

help like people you know what i mean like that that's applauded right so there's more of that which i think yeah that's different than i'm crying for doing my i know i was gonna say some people see it as weakness not necessarily but i do think that the emotional state crying for doing your taxes is straight up weakness i mean that's not yeah that's just whooshed but i do think that i do think that the emotional space right like even parenting i'm a young parent and so like you hear the extremes of parenting and it's like oh well are you sad about wearing a coat to school today tell me about your set you know and it's like this whole thing where you're like you just gotta wear a coat like so i do i do think that there is a level of um where the emotions can drive a lot of things in life more so than

the boomer generation if you wanted to if you wanted to buy into some of the rhetoric on the stereotypes which i'm not sure i do i just did a good job of defending the generation i think yeah yeah um the i i didn't think cnbc the thing that has been thrown at them that could be true is they've never really had a hard time so they're not tough yes i would say that's fair and um well and technology colman's done a lot of preaching and ranting lately about teach your kids to do hard things. Let them get a callus. Teach your kids to do hard things. And don't be the bulldozer parent where you pave the way so everything's easy. And that is what happens.

Yeah, a helicopter followed by a bulldozer. Whatever it is, yeah. Because helicopters, we are sure now, create snowflakes. We're positive. And I think it's more the bulldozing parents that clear the way so there is no hard they don't yeah they don't have any level of it yeah that we as parents we love our children we want to make life good for them but by not allowing them not making not putting them in situations where they learn to

do hard things they're not tough and because like you got to be a little tough sometimes and gen z is the first generation where these smartphones like my generation we at least had flip phones like i remember flip phones like the technology progressed but i do wonder too with that but anyways oh i'm sure screens are at the at the heart of most evil but i do want you i do wonder social media anyways oh well that was an interesting discussion so i i get to take up but i like that you were like i don't believe i don't believe. I don't believe CNBC's survey. I don't believe that. What's up?

One and four. I mean, have we got the only 700 of them in the nation that are tough? I mean, you know, really, I don't believe that. I mean, because we got the people you and I work with every day are not any of that. They're great. No. They're great. Yes, yes.

Love them. This is The Ramsey Show. Take care.