The Ramsey Show - App - We Would Have Been Devastated Without These Principles (Hour 1)

Episode Date: November 18, 2021

Investing, Home Buying, Home Selling, Debt, Insurance, Retirement, Career As heard on this episode: Sign Up for a FREE trial of Ramsey+ TODAY: https://bit.ly/3rZTUAx Tools to get you started:  Debt Calculator: https://bit.ly/2Q64HME Insurance Coverage Checkup: https://bit.ly/3sXwUn5 Complete Guide to Budgeting: https://bit.ly/3utmVXi Check out more Ramsey Network podcasts: https://bit.ly/3fHhbVE

Live from the headquarters of Ramsey Solutions, broadcasting from the Dollar Car Rental Studios, it's the 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. Open phones this hour as we bring common sense to your dollars and cents in a world where common sense is so rare that having it is like having a superpower. Open phones at 888-825-5225. That's 888-825-5225.

We're going to start this hour with Baton Rouge. Brett is with us. Hi, Brett. How are you? Hey, Dave. How are you? Better than I deserve. What's up?

Great. Got a question here. Dealing with a little emotional, I guess, sale of possibly some equities that my father My father had given me, when he passed away about four or five years ago, owe about $188,000 on the house. I have a 15-year mortgage just refinanced about a year ago, so I guess 14 left. And we've had some pretty tremendous gains in the stock since I inherited it, a little over probably a million in gains. And I guess he never sold it.

I grew up, we never sold it, collected the dividends, and now it's finally reached the point where I think it's in my best option to sell just the piece of it to pay this last piece of debt off. And I guess I just needed some reassurance because I have never once thought about selling you. Okay. Well, the total investment account of equities is worth what? $1.6 million. And $180,000 pays off your house? Yes.

Okay. So, I mean, like 10%. Right. It's like none of it. You're barely touching it. That's very true, and I guess that was the emotional part of it. It was given to me, and I guess watching him, he just collected dividends. He just held it, held it, and I feel like holding it for these past four years has been a tremendous gain, but telling a piece of it, I guess that's it.

You somewhat answered it for me right there. It's a small piece. Now, here's the other thing. What this does bring up, though, is it brings up what your father did with these stocks. stocks um was you have to decide was that his unwritten unsaid instruction that you should follow no matter what happens or was it good for him at the time but he would expect you to think on your own into the future as to whether that's still a good strategy which is i'm guessing number two would be

the thing because it'd be pretty weird for him to look at you and go never sell these stocks i mean that would be something someone would say about the family farm or about the family bible or about your great great-great-great-great-grandfather's musket, you know, or something like that. Never sell. That would make sense. But never sell stocks. Really?

No. I don't think he said that, did he? No, no, sir. Not at all. So you're not besmirching his legacy, his intent. He's not in heaven frowning at you. If you sold them all and diversified and put them into something else that you believe to be a better investment with good critical thinking skills

very yes 100 i agree with you so i i think you kind of got to get that going because the the bulk of my conversation with you before i started, of your explanation to me, was all about what Grandpa or what Papa always did, and it's worked for me. But I want you to be independent in your thinking of his memory. We can honor his memory best by continuing to do good critical thinking into the future. This is not a family heirloom. It's stocks. Correct. Yes, sir.

So, yeah. In other words, if you feel like that these things have run their course and you've had a good run, but you don't really like the future, it'd be okay to liquidate the whole stinking thing and put it in mutual funds and pay off your house. That'd be okay with me. That'd be my tendency, by the way, because I don't play single stocks. I don't like the risk. It's too much risk for me. But you have to work through the emotional part of it and go, okay, what were dad's wishes here? What was his wishes?

What does he want you to do? And so what I want my kids to do is live on principle after I'm gone. By principle, I mean a series of principles that give them good critical thinking skills, good spiritual eyes on the world, those kinds of things. And then given all of that, they can make a lot of decisions that were different than the old man made. But one of our principles would be we don't borrow money.

Now, that one I would expect them to hold to. One of our principles would be we're always generous. I would expect them to hold to. You know, one of our principles would be we're always generous. I would expect them to hold to that principle. But, you know, the nuance and the tactical of exactly how you do some of those things, I want to leave them free to make judgments because the world does change. Good question. It's a very good call. Sabrina's with us in Pennsylvania. Hi, Sabrina. How are you? Hi, Dave. Doing great.

Big fan. Thanks for taking my call. Well, thank you. How can we help? I am wondering if I should sell my rental property to buy a home or if I should buy the home and keep the property. Do you have the cash to pay for your home? In cash, no mortgage. The new home no we've got about

eighty thousand dollars saved for a down payment um i've got about sixty thousand left on the rental property which was a condo i bought five years ago uh and did never lived in it uh for various reasons but i'm just not sure if that would be good passive income for my husband and I. Well, rental property is great passive income, but I still would sell the condo and use all the equity to plunk down on your home and get your home paid off as fast as you can, then buy rental property with cash. Because here's the effect. Let's pretend you already own the new home, okay?

And it had a bunch of equity in it. And you're living in the new place you're thinking of buying. Can you get there in your mind right now? Yes. Okay. And then you woke up, and you didn't own this condo. And you woke up one morning and said, you know what? I'm going to go take out a second mortgage to go buy this rental condo.

You wouldn't do that. No, you're right, I wouldn't. And in effect, whatever the equity is in the condo that you could have put down on the house, it's almost as if you're borrowing that against the house to keep the condo. Does that make sense? Yeah, yeah, I guess I am. So then would you recommend, I mean, I guess I would have to look into it, but I would use that money to put a further down payment on the house,

not just do a typical down payment. Okay, got it. As big a possible down payment as you can put, because the goal is get the house paid off as fast as possible, because when you're 100% debt-free, then you start piling up money. And if you want to buy some rental property for passive income, that's a wonderful time to do it with cash, and that what sharon and i have done we started that many many years ago and um we've paid cash for all of our properties because you know the rumor ramsey doesn't borrow

money so um you know it's exactly what we've done but sometimes if you reverse engineer these decisions meaning like pretend like it wasn't there and I went and made it happen, it makes the answer readily apparent. So I personally would sell the condo. And that's what you were asking is what I would do. I'd sell it and put as big a down payment on the house as you can, get that house paid off as fast as you can. That's the shortest distance between where you are right now and wealthy. This is the Ramsey Show. In an uncertain world, being a good steward of your money is more important than ever. While some circumstances can't be controlled, there are items within your budget you can take charge of, such as your health care costs. For nearly 40 years, Christian Health Care Ministries, or CHM,

has provided a budget-friendly means of sharing for medical bills when our members need it. Learn more by visiting chministries.org slash budget. That's chministries.org slash budget. Christian Health Care Ministries is a Ramsey Trusted Provider. Well, this is a big week here at Ramsey. Ken Coleman's book, the brand new book, From Paycheck to Purpose, comes out number two on the bestseller list. So a great bestselling book again from Ken Coleman.

It's done very, very well. Thank you for all of you that supported that process. And we launched the pre-sale on my first book that I've done in eight years. I haven't done one in a long time. I've been pretty much helping the personalities get their books out and do that for about a decade now. The last bestseller, last major book I did was a national number one bestseller. I did it with Rachel Cruz, my daughter, called Smart Money, Smart Kids.

It was eight years ago. So we're doing another one. Haven't done one in a while, like I said, but we got it done. And it comes out on January the 11th is the street date. That's the date we got got it done and it comes out on uh on january the 11th is the street date that's the date we will ship it to you it'll be in your mailbox or on your bookstore shelves that day and uh it's on sale as of yesterday or as of day before yesterday so um it's called baby steps millionaires how you will become a millionaire if you follow the baby steps now a lot of you have heard a lot of this stuff before,

but we've laid it out here in such a way that it is undeniable that you can get there. We lay it out for you spiritually, mathematically, with case studies of all the tens of thousands of millionaires that are there because they follow these baby steps that we teach. We taught them starting back in 2003 in the Total Money Makeover book. And so there's, you know, 20 years or so of people out there running around doing this, and we talk to baby steps millionaires every day. So we talk about the things that people believe that are mythology about millionaires,

and we talk about the exact steps to follow to get there. If you're looking for get rich quick or some kind of prosperity gospel thingy, it's not that at all. This is simply if you plant corn, you should pretty much expect corn to grow. That's kind of how life works, right? It's cause and effect, sowing and reaping. Baby Steps Millionaires on sale now. If you buy it for twenty dollars right

now while it's in pre-order you get the audio book for baby steps millionaires the e-book for baby steps millionaires and the legacy journey which is a book i did also about wealth uh the audio book and the e-book of it uh the baby steps millionaires live stream which will happen in January, a Ramsey SmartTax tax filing. Our tax filing software is going to be there for you for free to file your taxes this year, and a Ramsey Plus subscription 30-day free trial, which gives you access to Financial Peace University and the premium version of EveryDollar, our budgeting app. So all of this for $20 just because you pre-ordered Baby Steps Millionaires. And thank you already.

A whole bunch of you have bought the book in the past 72 hours, and we really appreciate that. And, of course, we'll continue to let you know all about it as it comes to fruition and actually ships out the door the second week of January. Kathy's with us in Macon, Georgia. Hi, Kathy. Welcome to the Ramsey Show. Hi, Dave.

It's such an honor to get to talk to you. You too. What's up? Well, I just really wanted to say how excited I am. The timing is perfect. I said I'm going to call. We just sold our home because of all the counsel I've been listening to through your program and being in your Financial Peace University program off and on due to certain circumstances.

But we ended up with about a $200,000 net after commission on the sale of our home, but we don't have a home. So we started renting so we could get settled and decide what we're going to do. We're in our 60s and want to know what to do with that money. We have a $44,000 debt remain to be paid off in our debt snowball. And my husband thinks we should use all the money to pay off the debt. And I said i said this is our home we need to treat it like our house even though it doesn't have those kind of boundaries on it right now because it's what we need to buy a home when the time is right when we get there so we'd like to know what dave would

do i'd pay off the debt you would instantly even if you're in our at our age yes ma'am i was i told you to say that three days ago today i'm terrified to do it because of the market well here's here's the thing you there's two pieces to you having stability in your golden years financially a paid for house and no debt and so we've got to do both we've got to do both to get you there now your long-term plan you didn't buy you didn't sell this house in order to rent for the next 10 years what was your plan to buy when you what's the when are you buying what are you buying what are you thinking we are really praying through this season because we felt we made a huge mistake in our last home you know we just got ahead of the cart and and uh we're really just being tentative right now about what we're going to do but you're going to buy something you're going to buy something right okay and what is your income

right now we want oh i'm sorry let me tell you first of all we do want to pay for as much as we can for in cash without having to go with a mortgage. Agreed. Our income today is $160,000. Okay. And so what are you thinking? If you were to guess today, and you don't have to put this in stone, but just what you're thinking today, if I sat down with a cup of coffee with the two of you, what would you all tell me the price range you're probably going to buy in is?

$350,000 to $400,000. Okay. with the two of you what would you all tell me the price range you're probably going to buy in is 350 to 400 okay and you got 150 to put down because i just used up 40 of your 44 of your 200 so you don't like it won't fit i know i don't either but i like it better than you being in debt i've learned to be a saver good i've learned So now you don't have any debt and you can save more. Correct. Okay, so... I actually want to make more money, too. I don't want to earn anymore. I actually want to start generating income on my own. Good. Okay, so we got $150,000.

We need another $200,000 and you make $160,000. Mm-hmm. Okay, so if you bought a $350,000 house with $150,000 down, took out a $200,000 mortgage, and paid it off in four years, that wouldn't be that big a deal. Well, what's the payment on that? I haven't done that calculation. Well, if you pay off $200,000 in four years, it's $50,000 a year.

Right. Out of $160,000 160 and you live on 110 i know right yeah you could do it you could even do more than that you might do it in three years because you're a saver and everything you know but three or four years from the time if you bought that house this summer for 350 uh you know in the next six months or so you bought that house this summer for $350,000, you know, in the next six months or so, you bought the house for $350,000, and you put down $150,000 and you had a plan to pay it off in four years, you're going to have a great retirement. A paid-for, nice, solid $350,000 home that you bought with wisdom. You took your time, and you didn't make the mistake like you did on the last house,

and you don't have any debt in the freaking world except a small mortgage that you're going to knock out really fast and that sets you up for a quality golden years so well done well done well done well done i love it proud of you it's good stuff so the point is that if you have that as your plan the four years from today if you bought a 350 $350,000 house today with $150,000 down, you'd have no debt house at all. Then I'm not as scared paying off your debt today, the low $44,000 worth of debt. And paying off that little debt causes what we just outlined to be more likely to happen. Versus you're running around with money going out to the $44,000 and you're still trying to do this other thing over here so i think you need to pay off your debt asap and then i think you need to have a short-term plan to knock out whatever

mortgage you take out i think your plan of a 350 is a very reasonable plan but get after it kiddo it's not a 10-year plan this is a three or four-year plan skid it it. Open phones at 888-825-5225. Here's what's interesting. If you just change your mentality from, I'm always going to be in debt worth a 30-year mortgage, and you just change your mentality, and you just take the current balance on your home, and you start dividing it out by chunks,

like I just did her $200,000 by four years. That's $50,000. That's a chunk right that's four thousand dollars a month basically making 160 you can do this like a hot knife through butter i mean come on this is very very mathematically doable but until your mind does it and you unpack it and you go wait a minute i could do that you have that kind of light bulb over your head like in a cartoon you know a little light bulb comes on and a little cloud over your head. You go, oh, yeah.

If you'll start looking at your debt in chunks like that and do big math instead of trying to figure out all these little nuanced things, then you can get it paid off and you can have a whole different mindset about wealth and a whole different mindset about your generosity too. This is The ramsey show Most of you know this, but Ramsey Solutions is located in Franklin, Tennessee, just a little south of Nashville. Franklin is a wonderful small town, Mayberry RFD, basically. And we've located our homes and our offices here for many, many years.

And for many years in our old building and now in the new building for the last two years, you can actually come into our lobby, get free cookies that are homemade, and they smell so stinking good when you walk into the lobby. Free coffee that's all made just for you, and all kinds of goodies, and a full bookstore. And all of our shows, a lot of our shows, that is, this show included, are on the glass. And so people come in, sit, and eat our free stuff and watch this show, which is kind of like watching Ugly Paint Drive. But, hey, you can do it. And we love having people visit, and we appreciate you hanging out.

And sometimes when they drop by, they did so with an appointment that they set up through Miss Kelly to do their debt-free scream. And we have this cool little miniature six-inch high stage. That's the debt-free stage. It's got a little emblem, and it says debt-free. And standing right on top of that debt-free emblem is Connie. Hey, Connie and it says debt-free and standing right on top of that debt-free emblem is Connie hey Connie how are you hi Dave I'm good good to have you thank you nice to be here so uh where do you live I'm in Pittsburgh all right fun well good to have you in Nashville and all the way down here to do a debt-free scream sir how much did you pay off

at 90,000 okay and how long did this take? 30 months. Okay. Two and a half years. And your range of income during that time? When we started, it was about $180,000 a year, and now it's work optional. Whatever I want to do. There's a story here. And $90,000 worth of what kind of debt? It was our mortgage. Your mortgage? Your debt your debt oh house and everything yes sir weird people good good for you thank you thank you well done okay so tell me the story what happened two and

a half years ago made you decide we're knocking the mortgage out well that was the end of the story. The beginning of the story was my husband Tim and I met in December. I had our first date in January, got engaged in March, and married in June. Of what year? 2003 we got married. Okay. Yeah. So it was second marriage for both of us, and my elaine is who introduced us to you she knew that it was both of our second marriages and we really wanted to be proactive about our marriages because

the both of our other ones had men ended in divorce and we just didn't want to go down that road so money was a part of it and from where he came from and where i came from, we didn't grow up with any money and we just really wanted to do it right. So we met you and attended one of your seminars in Pittsburgh in person. I didn't have the money to pay for it, so I volunteered. Oh, cool. I have my volunteer like no one else shirt still to this day. Love it. Fast forward. So we did. We paid off our consumer debt, had children, had life, all that in the meantime. So we've been consumer debt free for several years now, which was great. And then for the mortgage, we just decided it was time. But, you know, we had already raised the kids and everything.

Um, there's still, I have 16 year olds in high school twins and a daughter who, um, actually just got engaged this last weekend. Yeah, that's fun. Um, so what we decided to do was pay off the mortgage just to be the last of it and to be done with it. And we wanted to have it done by the time the twins graduate high school so that we could help them with college. We didn't really plan on paying for their college, but we wanted to help them if we could. So our goal was to have that paid off, which is June of 2024.

So Addison and Nina would graduate and we'd be able to help them. Twins and colleges, same time is a little tough. Yeah. So we were going to do that. 2018, Tim was diagnosed with leukemia. We thought we had a beat. He passed away earlier this year.

I'm so sorry. That was the last of it. We started to pay it off and we were meeting in the middle for the girls's graduation date. But when I got his life insurance from his work, I went ahead and finished and paid off the house. Don't do that. You're making me cry. You're making me cry.

So, wonderful milestone, but bittersweet. It is. You weren't supposed to be here without him. No. That's not right. It's wrong. No, that's the hard part. It's wrong.

He's much too young. Yeah. How old was he? 57. And you guys were married for what? Almost 20 years? 18. Yeah.

Like you've done this before. Wow. Well, I was going with the 2003 part. Yeah, yeah. Oh, my goodness. Yeah. Thanks. What a tough year yeah so i know i wanted more to tell our story because with our journey it wasn't just get out of debt

and then go on with your life we were also coordinators we've coordinated i'm on our fifth class um so we had done it five times, but currently, and Erwin's around here somewhere. He's helping me out. Hi, Erwin. Yeah. But we had coordinated your class a couple of times, and it was so important. We didn't know it then, right? But now we did every step of the journey, and we we would not paid attention to the insurance lesson because we

went out and we got catastrophic insurance and we got our life insurance in line both his and mine i would be a completely different story i would not be standing here in fact the girls and i would probably be bankrupt because as you can imagine a bone marrow transplant is super expensive just that alone is over a million dollars and if we had to pay 20 of that and we've done he treated for three years so we would be absolutely financially devastated and instead like i said i'm i'm fine the girls are fine we're fine and uh would just, our lives would be completely different. How much life insurance did y'all have? Well, 10 times the Tim's was a million.

Plus, on the other side of that, so we were paying off the house. As soon as we got the house paid off, we were only $40,000 short of being millionaires already. This just doubled it then. Yeah. And this is so funny to say in terrible rate because you think a million dollars is a lot. But when you have to live off of that for the rest of your life, a million is not a lot of money. No, it's not. No, it's not.

But two million is better. It's better, but I can't touch some of it because it's our retirement. You're still too young. I'm still too young, yeah. But work's optional. Work's our retirement yeah you're still too young i'm still too young yeah so but work's optional work's optional yeah i heard that part earlier yeah well i didn't know we were gonna get there the way we got there but uh but we did get there right well and i'm an entree leadership person too um i owned my own business um and because i followed you there as well i had a huge emergency fund through covet and everything and we didn't miss a beat because of it so yeah you had covet leukemia and everything else yeah

but but you were the third pig in the brick house i mean you had everything built out just right and strong but you don't know it at the time well you knew what you knew you'd check the boxes you just didn't realize how important they were at the time. Right, exactly. And now when you get the other side of it, life insurance is a big deal. And being debt-free is a big deal. And having an emergency fund in the business with retained earnings and one at home is a big deal. And having a plan for their kid's college is a big deal.

And it's the only thing that makes what you've been through even tolerable tolerable yeah barely tolerable and if you had all that stacked on top of this it would be it would just be unseemly it'd be wrong it would be yeah it would be crippling yeah i'm so sorry yeah thanks sorry for what you've been through thank you i'm so proud i'm so proud of him yeah and i took care of his wife his kids, and what he did. What a great man. And that's what I talked about that in my FPU class. I'm like, look, when we started this, I said, look, guys, you know, I don't want to be Debbie Downer, but sorry to anybody named Debbie.

Sorry about that. I don't want to be Debbie Downer. Debbie and Karen. I got a bad life. I am now Karenaren i heard um but um i don't want to be debbie downer but what what a tremendous legacy he left for us and it's not a downer it's it's honoring his legacy it's honoring his memory because he was a good man and he did a good job of taking care of his family he's a good man yep proud of him all right connie we're

gonna celebrate with you with a little bit of a lump in our throat with you all right yeah connie from pittsburgh ninety thousand dollars paid off in 30 months making 182 i'll work when i want count it down let's hear a debt-free scream three two one we're debt-free free. Amen. Wow. This is The Ramsey Show. Well, I went out and got to have my picture made with Connie at the break and give her a hug. And wow, what a story. Hey, the reminder is this.

When I tell you to go see Zander Insurance and get 10 to 12 times your income on you, you're 57 years old. It doesn't cost that much. A million dollars is the freaking cost of a pizza. And, you know, you need to take care of these types of things and as she said it feels like you're checking the box you don't have any idea but you make make sure your stinking health insurance is in place make sure your life insurance of 12 times your income i mean if you make fifty thousand dollars a year you need to have five six hundred thousand bucks on you

your spouse makes seventy five thousand now i have 750 million on them and then you take that money and invest it it will replicate the income that you are no longer bringing to your family if god forbid something happens to you and i we've done detailed research none of us are getting out of this deal alive a hundred percent of us are going to die it's just a matter of when and it's a matter of what it's going to look like when we're gone with our family that counted on us get your stinking insurance in place man get your wills done 78 of americans die without a will it's about the same percentage that are broke too by the way I wonder if there's a correlation between taking care of business and taking care of business.

Oh, there is. Hello. You know, do your grown-up stuff, boys and girls. Get the will in place. Make sure the life insurance is in place. Make sure your health insurance is in place. Oh, if you're a renter and you're just getting started make sure you have a renter's policy it's only a couple hundred bucks and then when somebody kicks your door and steals your junk

you can get your junk replaced because it is junk probably was when i was renting wouldn't have taken much to replace it being about twenty thousand dollars worth of coverage for theft and fire and at least get you a new bed if something happens, right? Hello. So, you know, these basic, now I don't want you to buy a bunch of gimmick insurance, but the basic insurance policies are the defense mechanism, and some of you are only playing offense, and you can't out-earn your stupidity. You have to play defense and offense. And I've done it all wrong. I understand.

I know. play defense and offense and i've i've done it all wrong i understand i know but go take a take a lesson from a connie and say wow you want your spouse standing there going he or she has graduated they're in heaven but the family is in really good shape because the person that left was so responsible. Such a grown-up. That's a big deal, y'all. That's a big deal. Go to ZanderInsurance.com and get a quick, easy quote there. You're going to be blown away how cheap this stuff is.

And people just don't follow through and get their business taken care of. Scott's with us in Fayetteville, North Carolina. Hey, Scott, welcome to the Ramsey Show. Hey, Mr. Ramsey. Thanks for taking my call. Sure. What's up? So my wife and I are trying to figure out our next financial move as we go through a

career transition for me and a geolocation transition for both of us. We're currently on baby steps four, five, and six. But as we change locations in the country, I start a new career, and she changes jobs and takes a pay cut. We're wondering if we should just stop all investing right now, hit pause, and start again in a year once we're more stable while we figure out all the mechanics of what's coming up next. Well, I don't know why it would take a year.

Well, realistically, probably closer to six months, but if we plan for a year, then it's easy to do in six months. No, if you plan for six months, you'll do it in six months. Fair enough. I get the idea that now is the net effect going to be a pay cut for the household uh yes we're looking at dropping from about 230 a year down to about 130 a year why uh just while i work on getting my next job i'm sorry i'm transitioning out of the oh you're going out of the military what

you're coming out of the military uh yes i'm yes oh okay and you currently make how much uh about 102 a year okay and you you going to leave the military when? Expecting March 1st. Okay, and what do you do in the military? I'm an officer in special forces. Thank you for your service. What's your plan in civilian life? Looking at getting into project management or going back to school to get my mba okay i probably do both at the same time and product management should pay more than what

we're talking about what does your wife do uh she's a nurse practitioner and why can she not do that in the new city uh she can which is why we think our income is going to drop down to about that you know 125 130 level well a product manager you know with your experience going right into it working on your mba at night ought to be able to make close to what you're making now and if she makes the same as what she's making now i don't know why we're taking a hundred thousand dollar pay cut yeah it's just looking at how long it'll actually take to find that job by circling my resume um yeah i'm gonna send you ken coleman's i'm gonna send you ken coleman's book from paycheck to purpose which will help you short circuit that process because i don't want you to

uh i don't want you to miss two weeks of pay we already know that we have from now until march to find a job. My goodness, people are hiring like bananas out there. So you ought to be able to land this job way before. You've got plenty of time to work on it. You're not just putting out resumes, though. I mean, you're not just filling out applications. You're going to follow a precise seven-stage process to do this, and I'm going to send

you Ken Coleman's book to help you do that, okay? So, you know i think what you're doing here is battle planning for worst case scenarios and the problem with that what i'm pushing back against i don't want that to become a self-fulfilling prophecy you follow me i got you you're tactically trained for everything to go wrong and that's your plan that's how your brain works that's what you've been doing for all these years am i wrong no that's basically exactly what I'm trying to do. Yeah.

And so what you laid out for me, I don't want that to become your destiny. I want that to be if the whole battle plan goes sideways. But the plan ought to be we get in and we get out and nobody gets hurt, okay? Okay. You with me here? I mean, she's going gonna move her career money over and you're gonna move over and start your mba while you're working full-time and all of this starts march 1st thank you for your service sir this is how we're gonna do this okay so let's lay out a positive battle

plan and then if you want an exit plan a a worst-case scenario, an extract, you know, whatever you guys call that stuff, you're impressive human beings. What you do and the way you're trained to think in the middle of extreme violence is amazing. But what I don't want you to do from a business perspective, a career perspective, is create a self-fulfilling prophecy. So I want you to lay out a positive thing and then execute exactly what needs to happen to cause that desired future to occur which is a little different than battle planning okay we have worst case scenario in the back of our mind that is there is a trap door there is an exit strategy uh but we really are developing this where there's a high probability of a successful mission

and um i don't know if i'm using the right words or not, but I think I am. So hang on. I'll have Laura pick up. We're going to send you a copy of Paycheck to Purpose. And, you know, your training for execution on things sets you up for project management like nobody's business, dude. You are highly qualified to walk into that right now and if uh if you want to come over here at ramsey and work project management we'll talk about it because i i know how your brain works hey thank you open phones at 888-825-5225 you jump in we'll

talk about your life and your money see here's the thing that you want to be careful of. And Ken Coleman talks about this all the time. What you're doing where you are is more important than what the company does where you are. And more important than your job title is where you are. You're the pastor of a church that runs $15 million budget annually. Okay, you're not a pastor if you're transitioning out of that line of work into the business world. You're a guy whose CEO's run a $15 million top-line organization, nonprofit or otherwise. You've run a lot of expenses. You've done a lot of hiring and firing. You've been involved in a lot. You need to think about your skill sets that you're

developing, not the heading under which they fall. This is The Ramsey Show. This is James Child, producer of The Ramsey Show. Did you know The Ramsey Show is one of the most popular podcasts in the world? Subscribe or follow today wherever you listen to podcasts. We'll see you next time.