The Ramsey Show - App - What Can We Learn From the Twitter Shakeup?

Episode Date: April 26, 2022

Dave Ramsey & Ken Coleman discuss: Twitter Employees' reaction to Elon Musk's takeover, The risk of trying to time the real estate market during inflation, The best way to invest (hint: it isn't in gold). Want a plan for your money? Find out where to start: https://bit.ly/3nInETX Listen to all The Ramsey Network podcasts: https://bit.ly/3GxiXm6

Live from the headquarters of Ramsey Solutions, 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, Ken Coleman, Ramsey personality, best-selling author of the book, Paycheck to Purpose. He is my co-host today as we teach people how to build wealth, do work that they love, succeed in their careers, create amazing and real relationships, and deal with mental wellness of all kinds. This is your show. It's a show about your life and your money. A free call here at 888-825-5225 now ken you work with people on their careers being successful in a job in a chosen vocation to live the life that you want from

paycheck to purpose so that you can be successful and our heart here at ramsey is to always help people be as successful as they can in every area of their lives, and career is one of them. Yeah, if you think about how much time you spend at work in a week, a month, a year, and over a career, it's 90,000 hours is what the average American will spend at work. Well, then it ought to be about more than just money. We want you to make a lot of money. We want you to also also experience more meaning so money and meaning is what we're focusing on uh on the ken coleman show as a part of ramsey solutions and you know when we realize that in many ways it is your job and the ability to advance professionally that allow you to get out of debt faster well certainly those strategies are why we take that

very seriously your marriage it affects your health yeah you're all of these things are interconnected that's right and when you can get all these things lined up and aligned with your values, then your stress level goes down, your peace goes up, your smile is more often. And so I don't know how much it's exaggerated, because the news these days is pretty much all written for the National Enquirer by all of these. I mean, it's all like drama and hyperbole and everything it i we do miss walter cronkite but um true but because i mean everything's got a slant to it and so forth but apparently at some level anyway based on several articles that have come out uh with elon musk buying twitter that, that there's a lot of people that work at Twitter,

the woke type people, that are very, very, very stressed out, very upset, melting down in various ways that they can't work there if he owns the place. It's absolutely true. The Washington Post reported several conversations they had with Twitter employees when it was announced on Monday of this week that the deal was going to go through. And were comments like, I'm so stressed out about this, I forgot I have COVID, was a direct quote. One was, I literally can't speak. And yet they were speaking when they said that.

And now it's gotten to the point that Twitter leadership is actually concerned about this. It's gone beyond hand-wringing on Twitter itself. They took to the platform themselves. And the sky is falling. All these horrible things about Elon Musk, who, by the way, has stated very clearly that the reason he wanted to buy is because he didn't want anybody's speech to be altered at all so it's about free speech but this is apparently a uh an attack on democracy so here's where we stand today dave so twitter leadership has decided that no changes can be made to the actual platform at all without the singular approval of one vice president because they are concerned

there's a public statement by the company they are concerned that some disgruntled uh employees would try to sabotage the product so now we've got some let's just stop for a second there though right there i mean you get past elon musk as a person i don't know anything about him um makes battery cars and spaceships right i mean that's you got it so you got it i'm i. Yeah, you got it. I'm ambivalent about him. I don't know enough to say. He might be a great guy. He might be a horrible guy. I really don't know.

The principle I want to dial in on here is for our listeners, you can take a lesson from this situation, okay? situation okay don't work for someone that you hate don't work for a company that you're ashamed of the leadership or their values go find another job that's right the reason is very simple you will not be good at what you do it's impossible to compartmentalize enough to be excellent at what you do when you detest the product the the owner the leadership you know and because you're not aligned your values are not aligned and so all of that to say you're going to have trouble in a situation like these twitter employees are in prospering being successful if you have this kind of angst about your new boss that's exactly right and so uh what you should do is go find another job yeah it's so simple it simple. And, you know, you don't have to be stressed.

No. And be freaked out because you can be hired in about 20 seconds out there right now. There's a war on for especially tech people, right? That's right. And if you know how to work at Twitter, somebody will hire you. But I don't care. You know, I think that McDonald's makes horrible food. Then don't work at McDonald's.

But you don't get to tell McDonald's how to work. You know, if you want to tell people how to do stuff, then you got to go build you a company. That's correct. If you are actively trying to hurt the company you are pulling a paycheck from, I believe it's tantamount to stealing. It is stealing. I really believe that. Because here's the deal the minute you are at a point where you are trying to hurt the company that is paying you or you are feeling any kind of

other negative emotion you will not be able to handle it you can't keep doing it not only succeed but it's just called cognitive dissonance okay yeah it's two things in your brain that don't both they can't both be there at the same time and be healthy. You've got to be a psychopath to compartmentalize at this level. You cannot do it. And so to be successful in your life, embrace the journey. The thing has changed. Yeah. And you should not work for, not for the sake of the people, and it's not a matter of you're protesting by leaving.

If you want to say that, that's okay. Yeah. But the deal is it's not about the company, and it's not about Elon. That's correct. It's about you. That's right. You cannot be your best version of you, the most successful, peaceful, fun version of you when you work at a place that is not aligned with your values.

You think they're crooks. That's right. Or you think they're going to do harm to society, or you think they're a narcissist, or you think they're whatever. You should not work there. That's right. And so we have no problem. I have no problem with these young people or however old they are being so upset about

Musk taking over, but you need to leave you need to leave soon and so the professional advice here is it's going to take six months for him to take over ownership that's what twitter's board has said so you have six months and i'm trying to make this relevant to people that are listening watching right now because if something like this happens if you don't work at twitter you work at anywhere else and something joe's hardware story and joe sells it to henry and you don't like Henry. You don't like Henry. Well, then you should, you know, you don't get to tell Joe and Henry how to do the hardware deal.

That's their business. They own it. That's right. Snowflake. Yeah. So, move on. You don't get to tell them how to do their thing. If you want to tell somebody how to do something, you got to be the boss.

It means you got to start something that somebody can bitch about means you got to start something that somebody can bitch about. You got to grow something that somebody can bitch about. So you got to get up off your butt and go do something but you don't get to tell other people how to do that. You don't get to tell me how to drive my car. It's my car. Unless you're a policeman.

Then you can't. Other than that, you can't. That's a good point. That's happened before. This is a Ramsey show. People all over the country are discovering a faith-based and budget-friendly way of meeting health care costs through Christian Health Care Ministries. Christian Health Care Ministries, or CHM, is a nonprofit organization that helps members carry one another's burdens with health care expenses. And they have successfully shared each other's medical bills for nearly 40 years. See if CHM is right for you by visiting chministries.org.

CHM is a proud sponsor of Dave Ramsey Personality, is my co-host today as we talk about building wealth, doing work that you love, creating real relationships, all right here on The Ramsey Show. Phone number is 888-825-5225. John is with us. John's in Tampa. Hi, John. How are you?

Good, sir. How are you doing today? Better than I deserve. What's up? So I have my wife in the background listening. She works in mortgages, some prior Marine Corps veteran.

We recently sold our property that we owned and we stood to gain $175,000 from the property. We own another house and our goal is to be debt-free. We follow your principles. We both go to church. And we owe about $120,000 on the property and an $18,000 car payment. Today, when I finish work, I'll be going to pay off that car. Our question collaboratively is, do we do a recast and put $50,000, $60,000 down on the house and pay it off in a year, or do we go out and pay it off outright? Our savings, we have about $30,000 in savings. So just sort of wanted to hear your

perspective. So if you pay it off outright how much is left in savings there's about 35 000 so you wouldn't have to touch that um no okay as a whole as a whole there'd be okay so why would you not just pay off your house and your car today our biggest worries is that if we're in a if we if we find ourselves ourselves in a recession or a housing market issue, we wanted to have money to potentially go and buy a house on the cheap, potentially not refinance, what do you call them, a foreclosure. Would you want to hear your perspective? So you would not pay off your house in order to maybe buy a foreclosure if

the housing market tanks that's our idea or our idea is to have you know have that amount of money set aside okay i would tell you regardless of inflation and regardless of recession that your best goal your best process is to never buy a rental property except with cash and to never do that until your personal residence is paid for. And so that set of principles that I've used in my life and for millions of other people would lead me to pay off your house and your car today. So pay off the house. If it wasn't a rental property it was a secondary it was a secondary

i would be debt free before i wrote any checks to buy rental property and i would only pay cash for rental property then so the point being we're going to pay off this other property we're going to pay off your house your house you're going to pay off your car you're going to be a hundred percent debt free and if thirty five thousand dollars left in the bank you've got all of your income now to start saving to buy a foreclosure when the housing market goes down someday i don't know when it's going to go down uh not soon enough to change this answer okay so what you're saying is give you a call back in a month and scream on the air that we're debt free there you go brother or next week if you want, or tomorrow if you want, because you're debt-free.

Pay off everything. That's what I would do. Listen, the worry, the angst that you have around the economy, you're watching the news too much, number one. You need to turn the channel off. But number two, the worry, it's real, but there's no sense in just bathing in the blood every night, the blood of the newscast. And so, you know, the angst that I hear, what you don't see coming is that when you pay off all of this stuff, you're going to get peace.

Yes. And you don't even realize that that's there. So because 100% – we've done detailed research. 100% of the foreclosures occur on a home with a mortgage. Yeah, it's amazing how that works. Suzanne is with us in Pensacola. Hi, Suzanne. How are you?

I'm fine, thank you. I just turned 74. I'm a disabled vet and a widow. And the debt I have, I'll make a payment this month, and it'll be under $3,000. So if you don't mind, I'd like to add something. And that is, my husband met his wife before they were married. And this is what I told him. I said, son, you hold the ones you love with your arms, but because we're Christians, the Lord gave you a divorce decree. That's your

waistline, not that you're supposed to use it. But as your grandmother would say, my mom raised seven of us. What do you think the good Lord gave you two feet for? Don't you think you ought to use them? I said, your daddy and I used that at Carmel of two, and we had 48-plus years. So I know finance has placed a lot in marriage, and you're bound to disagree because you're two individuals. Just don't forget the feet, and you'll come out okay. All right. How can I help you today, Ms. Suzanne? My question is, I don't understand, you know, stocks and bonds,

and that's my next thing. And it keeps talking about investing in gold, and I don't understand what cryptocurrency is unless it's by bitcoins or whatever. So is there a book I can get to help me understand any of this before I invest? Okay. That's a really good question, and it is the proper question never invest in something until you understand it that is a rule go slow that's the second rule so that you don't invest in something you don't understand um if you're going to follow what we teach and what i personally

do suzanne i'm 61 um is i don't buy anything except good mutual funds and real estate that I pay cash for. I don't buy gold. I don't buy silver. I don't buy bitcoins. I don't buy anything that has a long track record, unless it has a long track record that is good. Gold does not have a long track record that is good. Real estate does.

Mutual funds in stocks and bonds some mutual funds have a good long track record and so i want you to buy like you were buying a home in a good neighborhood and bitcoin's a brand new neighborhood that's unproven it may turn out okay but it's brand new the houses all may fall down too but, to push this metaphor to the brink. But it's, you know, I don't own any Bitcoin, not one. And I don't own any gold, except I got on a little bit of a gold ring from my class ring, and that's about it. I'm not even big on jewelry. So, you know, it's pretty simple for Dave. Now, as far as the book to read, there's obviously entire libraries full of financial books out there that you could read,

and you could really go down the Alice in Wonderland rabbit hole. If you want to get a basic understanding of what I'm saying, you could watch the investment lesson, and it gives you enough detail to understand how mutual funds work, how stocks and bonds work, so that you can begin to get a grip on understanding and beginning to talk about investing. I will give you that as my gift, and we'll sign you up for Ramsey Plus, which puts you into Financial Peace University. You can watch all the lessons. You can do the budgets in there, but certainly jump over at a minimum and watch the investing lesson.

It will show you the ABCs of investing in a way that helps you really, really understand it. Yeah, I think that's really smart. I think she needs a really healthy dose of wariness. Don't let anybody look at you and go, just trust me, Suzanne. No. Don't ever trust them. Make sure that you understand it from a crystal clarity that allows you to then be confident and say, this is what I want to do.

I think that's the great lesson from Dave. I think an investing lesson is going to give you the strategy. It's very easy to understand, and it's time-tested. We had a meeting the other day. We were talking about the strategy that you've been espousing for years. I mean, it just flat-out performs. It works. It does, and a guy came up here at the commercial break just a minute ago and brought us a book.

It's true. Financial Peace University book from 1997. He went through the class. Now a Baby Steps Millionaire. Oh, yeah. And the lesson that is in that book, that three-ring binder that he brought up here that we used to hand to build those in the office because we were teaching it with an overhead projector in 1997. The investing lesson that is in that book is very, very similar to the lesson that you will

get on Financial Peace University today. And that doesn't mean that Dave Ramsey has it kept up. It means that the advice still works. Hello. It's correct. And it's still what I do to this day. I did it in 1997 personally. And, you know, it's like, do you do that with your own money? Yes. I do that with my own money. That's an acid test right there. I mean, you should really, are you putting your money in this?

Yeah, I am. Okay. Then that makes me think about it. Good questions, Ms. Suzanne. You hold on, Kelly. I'll take care of you. Ken Coleman Ramsey personality is my co-host today. Thank you for joining us, America. We're so glad you are here.

Landon is with us. Landon is in San Diego, California. It says on my screen, Landon, that you are debt-free, man. Way to go. That's right. I am debt-free now. Very cool. How much did you pay off?

I paid off $147,532.76. Good for you. And how long did that take? It took approximately 22 months. Good for you. Whoa. And your range of income during that time? Started off around $73,000, and by the very end of the journey, I got up to about $119,000.

Cool. What do you do for a living? I'm a certified public accountant who works in tax. Good for you. Okay. Okay, so in 22 months, you barely made enough to pay off $148,000. So you must have had some money in savings or sold something. How did you do this? Correct. So I actually am by nature a saver. So I had a really healthy emergency fund around $10,000 at that time, and then I had a bunch of money tied up in single stocks

in a brokerage account around $30,000. It took me some time to, like, let go of the brokerage account just because I'm a savior of my nature. And I just really love to spend so much time accumulating all those stocks, all of those years. So it did take me some time to get plugged into, to really let go of that amount. Cool. Cool.

And, and then you went on business beans and rice, rice and beans. What kind of debt was the 148,000? So 19,000 was a car loan. and then the rest was all school loans. Cool. Did you keep the car? I did keep the car.

I just realized that the school loans were the problem. Yeah, the car was a big debt, but the school loans were the tail that wagged the dog. Amen. You're exactly right. Good conclusion. I agree with you. Well done. Well done.

How old are you? I'm 25. What made you decide to do this when you're 23 years old? So in my household, my parents went through FPU many years ago, so your name wasn't like an unknown. And my home church from time to time will sponsor, um, FPU classes. Um, but like the, the real key turn was when I went to the mailbox one day actually, and I got a magazine, it was a, a money magazine and it had your face, this crazy guy on there with cutting up credit cards. It was, it said, um, the debt slasher,

how broke millennials are flocking to financial guru, Dave Ramsey, and is his advice sound? And I was just like, something just clicked there, and I just had to listen to the show. And I was like, is it true that Dave Ramsey helps people pay off tens of thousands of dollars of student loans? And I just was listening, binging podcast after podcast. And I just heard a lot of stories where people or couples um singles like me were just paying off tens of thousands of dollars and i just it kind of was off to the races at that point good for you very cool very cool well the interesting thing was that article was written to trash me yeah yeah it's absolutely right

but it turns you on makes you listen again because you're a financial peace baby you came out of a home where parents did this and you'd remember hearing it at your church so even that article turned out to be good for me who knew so great they trash you and and and then literally and then landon ends up getting out of debt he's the exhibit a yeah you know the you know actually are you a gen z or millennialennial. Yeah, you're right there on the edge. So good for you. Wow. Way to go, Landon.

You're a stud, man. You knocked this out. So what is the secret to paying off $148,000 in 22 months? You pull $30,000 out of a brokerage, $10,000 out, so that's $40,000. That leaves us $108,000 to knock out. That's $50,000 a year, making $73,000 to $119,000. You were on beans and rice yeah um i definitely would say the butt is super important um but for me was more about

perseverance and staying dialed into the plan in the process um since it was never going to be a quick two to three months um but more of a year's long journey i think when i first looked at it i was thinking three years time frame but um and you guys always talk about on the show, how it's a marathon, not a sprint. And it was, for me, it was looking for small wins and momentum boosts throughout the past two years. Um, I think things from going from asking my manager, my boss, like, can I please get double overtime? Can I get time in the half? Can I get any extra hours to get it and delivering a pizza and getting a $30 tip? Those were just little victories along the way. And I think the biggest momentum was like listening to the debt-free screen

after debt-free screen, listening to the podcast, trying to dial in and see if there's anything I'm missing. Is there any tips and tricks that tips or tricks that other people are doing that I can apply in my own life, um, from selling things on eBay or doing Amazon or anything like that. And I definitely won't say it was an easy journey because I think for most of the process, it was, um, consistent 80 to 90 hour, um, work weeks in and out. And, um, there was many nights where I'd only get maybe three hours of sleep. And when tax season ended, like a lot of my friends were like, oh, we need to go party and we need to go drink.

And I was just like, no, I got to go do my food delivery job from like six o'clock to midnight every night. So it was definitely about staying consistent, staying dialed in. And I think the major momentum boost for me probably was around the two thirds mark. So when I was around $50,000 left, I think I was able to switch jobs at that point. I got a really good buying bonus and a pay raise and a promotion that my old job wasn't going to give me. And I think that was when I truly believed I was, I could see the finish line there. Um, I think through most of the process I was like,

yeah, I think I can do it. I'm just going to keep sticking to the plan. But it was like at that moment when I was only 50,000, which sounds like, which is still a lot, but I truly believed in my mind that I could do this. It was just a matter of time. And it was going to be no more of borrower, slave to the lender. And I was just so fed up of having my entire paycheck just be eaten by debt payments, eaten by debt payments every month, every biweekly period. It just drove me insane. Wow.

All that sacrifice, all that hustle, all that grind. How does it feel now that you're the other side? I can't express enough how the word financial peace sounds. It's lovely. It was like when my first direct deposit hit, and I was like, it was kind of in the mode where I was going to log on to So and i was like it's kind of in the mode where i was going to log on to um sofi and now it's so long so long sofi i like that i'm going to keep that one going yeah so that's where the old student loan was sitting over there at that wonderful

company called sofi oh brother wow way to go man way to go so it was worth it the hustle the grind the hours now you're free you're 25 and you're 100 debt free yes i am way to go brother very proud of you we've got a copy of baby steps millionaires for you how ordinary people built extraordinary wealth how you can too i definitely think definitely think that is your future. I will predict that for you. It's coming your way. Also, a copy of Total Money Makeover for you to give away to someone, stir up a ruckus as you've been talking about this.

Who was your biggest cheerleader as you went along? I think it was my parents and my immediate family. They were very supportive, and they would always ask, like, how much have you gotten down? How much student uh student loans are left yeah your mom and dad got to be proud of you man you're a stud yeah yeah well done and then i i told my friends and they were all like a little skeptical at first and but they would they were supportive and they weren't like encouraging me to do um go out and spend all my money and so very good cool stuff man all right landon in san diego 148 000 paid off in 22 months 73 up to 119 with a raise and delivering some pizzas count it down let's

hear a debt-free scream three two one I'm debt free yeah that's how it's done so we need to change our tagline around here the Ramsey Show getting people debt free for generations that's exactly right this is the Ramsey Show, getting people debt-free for generations. That's exactly right. This is The Ramsey personality is my co-host today, best-selling author of the book Paycheck to Purpose.

As we talk to you about building wealth, doing work that you love, and creating and having amazing real relationships. Half of Americans over 65 years old will need long-term care, and the average cost of that care is over $100,000. You've got to plan for your long-term care needs now i talk to people all the time whose time all the time whose plan is is to let medicare pay for it i got news for you people medicare won't pay for everything and that's why i recommend long-term care insurance for people age 60 and over it helps pay for nursing home care assisted living and in-home care, costs like medical equipment, help getting dressed, eating, home modifications

so you can stay safely in your own home. And that way you get to keep your independence and your savings. Long-term care insurance protects your family too. Your spouse and kids won't have to bear all of the financial or emotional burden of caring for you. And it doesn't burn up and crack and scramble the nest egg and leave the other spouse behind with no money. So you need long-term care insurance once you're 60 years old.

Our network of endorsed local providers will help you understand your long-term care insurance options and find the right policy for you. That's why they're Ramsey Trusted, because they'll put you first no matter what. So if you're 60 or over, it's time to connect with a trusted ELP and get your free long-term care insurance quotes. Visit ramsaysolutions.com slash long-term care will help you out. That's ramsaysolutions.com slash long-term care. Jeff is with us. Jeff is in Boise, Idaho.

Hi, Jeff. Welcome to the Ramsey Show. Good afternoon, gentlemen. Waited to call in when both of you were co-hosting today because it's because of the two of you that my life has changed. Your teachings. I know what you tell people. I'm the one that changed it but finding you guys and listening to your advice uh has really changed my life and i'm getting my bachelor's degree here

in two more semesters i'll be done been working full-time going to school full-time good for cash flow on it um and so just super excited but because talking to ken a couple times on his show and and i started doing a podcast last year I'm in my second year this year. It's growing, and I've just signed up to do a second podcast to produce and host that for another guy that wants to do it. But here's my question for you guys today is I want to write a book, a guidebook here for a sort here in Idaho. And I know you guys put a lot of books out and I know Dave, you started many years ago with just one book, but, um, is it better to self publish or go through a publisher? Um, if you're, if you know, if you're writing a book, especially your

first one starting out, um, if you have a big platform and, uh and a lot of marketing muscle, a lot of notoriety, and you're going to sell a lot of books, you may want to consider a publisher because they will do all of the business side of publishing for you, meaning print the books, ship the books, bill for the books, collect the money, all that kind of crap, right? Right. You know, we've grown ours into a business, so we self-publish everything here, but we're actually a very large publisher.

And we were the seventh largest. We were the number seven of the companies that put out of all publishers, and there's five really big ones out there, of people that put books on the New York Times, but on the bestseller list last year. So we were number seven. But, again, we're a sizable operation. So in your case, I'm going to guess and say I would start this book with a self-published approach um because i think a publisher might do you more harm than good uh you might end up buying more of

the books for your own use from the publisher after you sold it to them then you uh then they actually sell okay the average book in america with a publisher that goes out sells 8 000 copies that's the average um and uh so most books don't sell a lot of copies in other words and the occasional book goes zoom zoom and uh you know a million copies is highly unusual. So I think Ken's Paycheck to Purpose is right now somewhere around 250,000, 300,000 copies out the door, and we started it last fall. But we're a big operation, and we know how to sell books. So highly unusual.

So all of that to say, I think I'd self-publish it, and you can control the marketing then, and you can control the cost, and you can control when you want to use the book for something other than just selling a book. In other words, sometimes a really nice hardback book makes an excellent business card to hand to somebody, a promotional item to hand to somebody. But if you're buying your own book for $8 apiece that you could have printed for $2 uh to give away that starts to be prohibitive right makes sense yeah yeah and so like you hear me giving away a book you hear me giving away books on the air here for different things just as a gift to a caller in different situations i

got about two dollars a piece in those but if i was buying them back from my publisher i'd have eight or ten dollars in them and that's what i was thinking so it's it's good to hear your your perspective on that and i think too just being more of a it's going to be a local guidebook i think it would make more sense so but i was just curious what your thoughts were because um i know you publish a lot of books because i've read all the ones you put out so thank you um check out i'm not a fan of Amazon on everything. Sometimes they drive me nuts, and I worry about them in a lot of ways. But in this situation, they have a self-published arm that you can do publishing on demand,

meaning you put the book up for sale on Amazon, and they print them as they sell them for you. It's a wee bit expensive per unit, but if you're going to move like 1,000 units or something, it's a lot easier to do that than it is to go through a publisher or to go to some printer and try to get 1,000 books printed. That'll drive you nuts. Yeah, Jeff, if I heard you say guidebook a couple times, I believe I did. In this case, before I'd go through the self-publishing, I agree with Dave 100%, but before I would go through a full self-published situation, I would test out the concept a little

bit. I would do maybe shorter, not a full-blown trade book and whatever trim size that is. I'm sure you've done your research. I'd try out some smaller things, some blog posts. I want to see what the appetite is. If this sounds like a local published product, I want to test out the appetite for this and learn some things before I spend the time and the money to self-publish a book. So I'm not in any way discouraging you to self-publish, but before that, I would figure out what my local market is. What are people looking for locally? Plus, we've got tourism coming in, and I would learn a little bit about that and test some concepts. Try three or four, five,

six different, maybe smaller versions. So if you were to think initially of maybe a guidebook that has like 12 chapters in it, do one, chapter two, and let's see what happens, and let's learn a little bit, because I think that those lessons can be learned quicker a whole lot cheaper so that when we get to the stage of self-publishing now we feel like we've got a market for this there's a real market for uh what we used to call chapter books um my friend jim collins did a book uh that they called it a monograph and basically it's like 37 pages it's a chapter and uh then we did them uh we've done four or five of them that have done very well uh quick reads we call them and they're you know they're they're 30 to 60 pages something like that so dr john deloney's book on anxiety

redefining anxiety um and we've sold over 100 000 of those uh but it's like a 50 or 60 page it's a little quick read it's uh and it hit the best seller list so uh it was the first little effort he put out when he first came here um and um so we've got a handful of those that have come out um and i'd probably i'm with ken i'd probably that it's inexpensive you don't even have to you know you obviously paperback but sometimes you could do a staple bind on it where it's a foldover rather than having a spine to it if you keep it small enough. And, again, your cost of goods sold goes way down. You can publish it locally.

You can print it locally there in Boise, and you don't have to end up dealing with some printer in Chicago or something to get it done. And I would even try an e-book, too, because an e-book is even less expensive. And if we prove concept, now we can at least, you know, if you don't do a bunch of design, you just have a lot of options that I would test first. Yeah, let's do a lot. Let's get some proof text in the marketplace with it.

I agree. It's good stuff. It's a fun business. It's a fun business because very few people do it well. And so the landscape's wide open. We'll see this week when the bestseller list comes out with John's new book, Hit the Street. This is last week, so there we go. This is The Ramsey Show. Dave here. You can find all of our shows with the Ramsey Network app on your smartphone.

It's the only place to listen to the entire back catalog of episodes. Download the Ramsey Network app in your favorite app store today.