The Ramsey Show - App - What Do I Do in Baby Step 7? (Hour 2)

Episode Date: May 12, 2020

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Live from the headquarters of Ramsey Solutions, broadcasting from the Dollar Car Rental Studios, it's the Dave Ramsey Show, where debt is dumb, cash is king, and the paid-off home mortgage has taken the place of the BMW as the status symbol of choice. I'm Dave Ramsey, your host. Thanks for joining us. Open phones at triple eight eight two five five two two five my co-host on the show today anthony o'neill ramsey personality number one best-selling author of the book debt free degree and of course also the new book out that we just put put out a quick read it's called so it's 60 pages long it's a little quick read and uh of course this is known

as destroy your student loan debt the step-by-step plan to pay off your student loans faster yeah so all of that happening from anthony you can find all of it at dave ramsey.com and follow him on facebook instagram twitter anything at anthonyoneal.com. Mohamed is with us in New York starting off this hour. Hey, Mohamed, what's up? Hi, Mr. Anzi, how are you? Great, man. How can we help?

Thanks. So first of all, I hope all of you are doing well, and I hope all the listeners are doing well. So I just had a quick question. So right now I'm trying to follow your baby steps as much as I can. So currently I'm on baby steps 3B and I'm trying to save for a down payment. But when I started working, all of my colleagues just told me, what you need to do at your age is just,

you have to max out your retirement savings accounts. So my company offers a 403B TDA tax deferred annuity at about like 7%. And they're just recommending you shouldn't do anything. What you just need to do for now is just maxing it out. So my real question is, do you, because I know your plan is you have to pause retirement for a bit in order to save for a down payment. Or it can be. Some some people do some don't right so my question would be is like what would you recommend would you recommend that i do a little bit of both or should i completely pause it in order to focus on if you're going to completely pause it i would only do that for three years or less right but obviously it's going to take you longer to save the down payment

if you're simultaneously doing what we call baby step four, which is 15% of your income going into retirement. That's going to drain down your ability to save as rapidly for a down payment. So when do you want to buy a house? So not for three or four years, as you were saying. Okay. Then you can probably do the 15% plus save for a down payment, can't you? Right now? Yeah, 15% of your income going into retirement.

And in addition to that, save for a down payment on a house, can't you? Yeah, that would work. Yeah, because I had conflicting ideas know ideas i didn't know that completely it's okay either way there's no conflict it's okay either way the obviously the faster you want to buy a house the uh the more you would lean towards temporarily pausing retirement to save up your down payment yeah mom how old are you and how much, how much do you make a year, man? So I'm 24 and, uh, what I make here about like 68. That's gross. Yeah. Yeah. So, so what Dave is saying is you're young and so you can honestly go ahead and start investing. I love the fact of you investing. And then also during the same, during the same time saving for a home. So over

the next three to four years, you know, you have compound interest working for you and you're saving for a home. I like the sound of that. I really do like the sound of that. But do not put it in the 7% annuity. There you go. That's what I was going to ask. You need to go into good growth stock mutual funds. That 7% annuity is horrible.

It's a bad product. And so you got bad advice all the way around from your coworkers or whoever it is, except that they were encouraging you to invest, which is a good idea. So we would say put 15% of your income, so 0.15 times your income, annually into your 403B and or Roth IRAs and good growth stock mutual funds. Beyond that, save money for your down payment, and you're going to get a house long before you're 30 with that program if you'll stay on a budget and make the money that you've got coming in behave,

and that's what you're going to do. Nick is with us in Indiana. Hi, Nick. How are you? I am absolutely wonderful, Dave. How are you? Better than I deserve. How can we help? All right, Nick. How are you? I am absolutely wonderful, Dave. How are you? Better than I deserve. How can we help? All right, Dave. I've got a business question for you.

My wife and I started a food truck six years ago, and we have slowly scaled the business. And we are at a point where we're working on streamlining our processes and things. We know that we need a bigger truck. We know that that truck needs to have a nice vinyl wrap on it for people to come up and see it if they don't know who we are. My question is, should we rebrand the name at this point? The name of the truck is the Duffy shuffle and we're thinking about rebranding it to the sideways chicken because we do fried chicken. Um, that's kind of where I'm at, except we've got, you know, I I'm here in Evansville and we've got, uh,

we've got a pretty good following. Um, and I'm just, I'm kind of torn. Um, I'm trying to think long-term because eventually I would love to franchise this business, and I feel like rebranding is almost necessary in order to have national brand potential. But, again, I hate to kind of leave everybody, you know, leave a known brand that we've been working on for the past five years. Yeah, because your existing customer is not going to know where you are. Exactly, exactly. Is there a logo with the Duffy Shuffle? five years yeah because your existing customer is not going to know where you are exactly exactly um is there a logo with the duffy shuffle uh there is

i mean if you rebrand i would probably give a tip of the hat to the old thing and put uh you know up in the corner or something uh you know the the old duffy shuffle logo and put formerly known as the artist formerly known as like prince right yeah yeah okay you know the the old duffy shuffle logo and put formerly known as the artist formerly known as like prince right yeah yeah okay you know that kind of a thing so so that at least your existing tribe goes oh yeah that's so that's those you know duffy shuffle guys but they got chicken yeah and so and then the new people are they're just tied into the new brand right uh but if you can kind of do a tip of the hat and a handoff that way uh and then the next time you did a truck after that or the next time you rewrap this one you might be able to drop it

because you would have made the brand transfer sure sure understood yeah yeah that's uh that was kind of what we were thinking uh you know potentially even hanging a sign in the window as it is right now you know letting everybody know that the change is coming and things like that for next season yeah you know hand out hand know, hand out cards with every basket of food that goes out going, you know, remember, we're getting ready to change the name, everybody. Remember, we're getting ready. And do that for six months before you do it or something. Sure.

And, you know, let your existing tribe – I want your existing tribe to go with you. I don't want to have a drop-off just due to the name confusing them. Yes, sir. That's all I'm thinking about. But, yeah, I mean, I agree with you i don't want to have a drop off just due to the name confusing them yeah yes sir that's what that's all i'm thinking about but yeah i mean i agree with you it's it's you know you get you got to get something uh the brand needs to be more prescriptive than it currently is meaning that when i see the name i know what's there right and if you say you know whatever the name the chicken is i get it i know it's chicken yeah and just make sure you do it over time nick i like like the way you were thinking that because I'm

thinking with me being a customer, I'll be like, whoa, what happened? Where did it go? Where'd my truck go, man? I love those guys. Especially with chicken. I like chicken.

You got to walk up to it and see the guy inside to realize it's the same people. Same people. Yeah, so somehow, you know, have a good graphic artist help you get

somehow the new brand has a tip of the hat to the old brand. Yes. And visually, so that people can do that. Hey, good question. Very interesting. And thanks for being a small business guy out there fighting and scrapping, man. Anthony O'Neill and Dave Ramsey.

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to get the best possible deal. Erica is in Minnesota, Anthony. She says, Hey, we owe $3,000 to my state and $3,500 for federal taxes we're working therefore we have an income would it be better to wait and pay taxes by the due date in july and pay off other debt in the meantime or should we just pay taxes and then pay our debts

with what we have left over monthly i'm definitely going to say dave uh line up in your debt snowball and if the taxes are like behind and you're getting in trouble, definitely go ahead and pay that. But if it's this year, I'm going ahead and just line up in your debt snowball and include it in there. Yep. Put them in your debt snowball. And now don't pay them late, though. There you go. If you need to move them up in the debt snowball in order to pay them on time, that's fine.

But, you know, you need to lay out a game plan that includes all of your debts and these taxes being paid on time. Yes. And so you got July 15 on this, on your Fed taxes. It's been extended this year, and you put together a game plan for that. That's how you get at that. Hey, good question. Thank you for joining us. Open phones at 888-825-5225.

We're giving away cash here in the summer. $500 every week in May for three lucky winners and a $3,000 grand prize. You can enter daily at DaveRamsey.com to increase your chances of winning. Of course, there's no purchase necessary. Just go to DaveRamsey.com slash giveaway. Enter every single day. winning of course there's no purchase necessary just go to DaveRamsey.com slash giveaway enter every single day and while you're there be sure and check out the $10 special man lots of something going on open phones at 888-825-5225 Jonathan is with us in Florida hi Hi, Jonathan. Welcome to the Dave Ramsey Show. Hey, what's up? How are you guys? Great, man. How can we help?

Yeah, so basically I got engaged earlier this year, and I'm in the process of planning the wedding as well as me and my fiance doing a little bit of house shopping. So the sort of wisdom I'm trying to gain here is we are planning a wedding, want to move out and buy a house, but there's also some student debt involved as well, around $20,000. So that's the three things that we're trying to juggle right now. Gotcha. Well, congrats, Jonathan, on getting engaged, man.

I mean, that's awesome. Thank you. When's the wedding? The wedding is for October next year. This coming October or the following? No, the following year, 2021. Okay. 18 months.

It's a long engagement. Okay. Real long engagement. Hey, how old are you all, Jonathan? You and your fiance? She is 27. I am 28. Okay. 27, 28. And you're pretty much asking, what's your fiance? She is 27. I am 28. Okay. 27, 28. And you're pretty much asking, well, what's your priorities?

What should you be focusing on? Should you be getting a house or should you be attacking the student loan debt right now? Correct? And paying for a wedding. And paying for a wedding. Correct? Yeah. So, for example, we were house shopping right now, but we decided to put that on hold because we feel like with a mortgage, we would not be able to save.

Yeah. I agree, Jonathan. I'm not concerned about a mortgage right now. Combined, I mean, your debt and her debt, how much debt do you have? So it's $20,000 in student loan debt. Okay. All right. Sounds good. And you're 18 months out for engagement. So now normally, if you within the next three to six months, Dave, I'm going to recommend that we pause the debt snowball and save up and pay cash for a wedding. But with you being 18 months out, I do not want you to pause for 18 months. I just don't. So what I want you to do is go ahead and start attacking

your debt. And while you're attacking it, I'm not even a huge fan of waiting 18 months to be engaged. I want to see if y'all can move that up a little bit, maybe to maybe a year at most out to it. But I want you to pay cash for your wedding. I don't want you to add on any more debt. So your priorities to me right now is to want to have the conversation to see if y'all can move the wedding up a little bit, get married, attack all of your debt. But the key thing here is I do want you to pay cash for your wedding.

I'm curious, Why wait 18 months? I'm with Anthony. Yeah, so initially, since I got engaged in February, and there was already talk of COVID and potential things being canceled, we kind of pushed far out just so we weren't in any window where things could get canceled and that sort of thing. But, I mean, October of 2021, is that what you're saying? Yeah, paying it extra safe, I guess.

Yeah. Here's what I'm going to recommend. And this is, my brother's getting married as well. He's getting married in September, man. And so what he's doing, he's having a very small wedding, maybe about 10, 15 of us. And then he's going to open it up to where, when things do get back to better,

then he's going to have a celebration. Okay, so I love i love that idea you know you guys do whatever you want to do but your wedding is going to be the first priority the debt is the second priority and i would not buy a house yeah until after you're married and after you're debt free and after you paid for the wedding so the house is the third priority do not buy a house until you're married yeah you're going to make a mistake if you do yeah that's very very dangerous to be buying a house with somebody you're not married to and not just a married day i would even wait a year to make sure that you all are going to stay in that city nothing wrong with that either yeah yeah so so do not buy a house for sure right uh until you're married and then i'd wait a year after you're married to buy.

I agree with Anthony on that. But it is the third priority. You need to be debt-free and have paid cash for the wedding and have an emergency fund of three to six months of expenses when you get ready to buy the house. So the house is the furthest thing down the list by far. Yeah. Amen.

Good question. Hang on. I'm going to send you a copy of the Total Money Makeover book as an engagement gift. Connie is with us. Connie is in Minnesota. How are you, Connie? I'm doing well.

Thank you so much for taking my phone call. I'm honored to be speaking to both of you. You too. How can we help? Well, my husband and I are working with an ELP on our retirement plan, and we're in the processes of discussing long-term care policy options. And the ELP that we were working with presented to us that Minnesota has a unique long-term care partnership option.

And so I wasn't sure if you were familiar with a long-term care partnership option, and if so, what your thoughts on that were, because we want to be careful about not purchasing a product versus purchasing protection, if that makes sense. Absolutely. So what is the partnership option? I'm not familiar with it. Okay.

So the description on the page is very, very straight to the point. So if it's okay with you, I'm just going to read directly what it says. Okay. It says the Minnesota Long-Term Care Partnership is a public-private arrangement between long-term care insurers and Minnesota's medical assistance program. It enables Minnesota residents who purchase certain long-term care insurance to have more of their assets protected if they later need the state to help pay for their long-term care. Minnesota is using this approach to give persons greater control over how they finance their long-term care and to help shore up the public safety net against coming demographic pressures. Okay.

It sounds like if you just plug in through this program that you're allowed to use a state Medicaid nursing home without getting into the other stuff. I'm not concerned about that. The reason for buying long-term care is to not have to go into a state-funded home, is to go into a higher quality process where you're going into a private nursing home. So the reason to buy long-term care is to not end up in the state-run facility, which is substandard. I mean, in almost every case. I've never seen one that wasn't, that I want to stay in. You know, so your reason for buying this is to be able to have a higher quality of care

and not have your assets drained in the process. But, you know, it's okay to plug into that. I don't see a problem with it. But, you know, my motivation, motivation if i'm you is different than what that what i think i understood there um and again i'm not i'm that's the first time i've ever heard of it so i'm not an expert but your goal is not to end up in a state-run home your goal is to end up in a private home privately run home that's funded by your long-term care insurance that would be mine anyway.

So as long as, you know, talk that through with your ELP, and maybe they can explain it a little bit further. This is The Dave Ramsey Show. Please hear me loud and clear. The government is not going to bail you out of your student loans, at least not completely and not without a catch. What they're talking about only impacts federal, not private loans, and you need to take responsibility for what you owe and pay your debt down quicker. Right now, Splash Financial is offering their lowest rates ever.

With lower rates and extra payments, you could just find yourself debt-free in the next five years. Visit splashfinancial.com slash Ramsey to see if you qualify. angelina is with us in california, Angelina, how can Anthony and me help? Hi. I have a couple questions. I was married 13 years. I'm 38, and I was a special ed teacher. So I have a lot of student loans. I was very sick, and I was diagnosed my second year with an autonomic nervous system disorder. And I tried to work.

It was way too hard. And I'm not working. I didn't finish my master's degree. So I'm not working. And I'm currently going through a divorce. So I tried very hard to get disability. And because it's an autonomic nervous system disorder, they don't understand the severity of it.

So I was not approved. They asked don't understand the severity of it. So I was not approved. They asked for more work. I gave it, I mean, I worked with like 16 doctors. I gave them stacks of work and it was denied. So I cannot get disability and I can't get, I can't really work yet. And, you know, I've only had it a few years, so I'm kind of getting it under control. But I know I'm not ready to work yet. I have two sons. So I'm currently going through a divorce barely just in March. I moved out.

And I haven't filed papers yet. I have them with me. I'll probably send them out in a couple days because everything was shut down. Mediation. I couldn't afford a lawyer. I don't know how to begin to start all over again i still have a lot that i do for my supplements and my prescriptions for the treatment so i don't know how to ask for self-support because it seems like nobody understands the

the um autoimmune issue but i know i can't work still i'm sorry what a horrible thing yeah so um yeah the the obviously uh the mathematical answer not the medical answer is to find some kind of thing that you can do while you still struggle with this, this disability. We'll call it a disability, okay? Yeah, it is. So, you know, given your limitations, what types of things can you do to create an income?

Because the truth is you're going to have to create an income, aren't you? I am. He's still my husband right now. No, I'm talking about 10 years from now, you're divorced. You're going to be creating an income since you didn't qualify for disability. Yeah. Otherwise, you're going to be homeless. It was a very, very, very ugly marriage.

So now that I'm out, I don't have as severe symptoms, and I'm driving, and I'm going to the store. But, you know, it makes me tired. So I feel I'm hopeful that with all the treatment that I have, I'll be able to return to work, even if it's just a part-time. Because I was a special ed teacher, I know you can do half of the days or maybe two to three days a week. And I'm thinking about trying to start that maybe in a year hopefully in two years and how do you eat during the interim yeah well he he gives me four hundred dollars cash a week while we're waiting for child support and the divorce to be processed okay so after the divorce you anticipate that you'll live off of child support and alimony

no i'm i really believe that i'm going to be better eventually even if you just told me you weren't going to work for two years you're the divorce is not going to take two years no no i'm saying for me my own goals i don't i i am i went to texas last year and i saw the best of the best she had it she said it takes a couple years to reverse so i'm hoping now that i'm on better treatment that i plan to return to the classroom okay until you do what are you going to use for money to eat? I don't know. That's my question. That's my concern.

I hear a gap between, okay, you've got some money coming in now until the divorce is final. Once the divorce is final, what money are you going to have coming in, and will that be enough to support you to pay rent, lights and water, put food on your table for your children and you. And I think what I'm thinking is there's probably an interim step between the classroom and the divorce being final. From the day the divorce is final, you've got X number of dollars coming from him, and then you've got a little while before you're going to be back in the classroom. So what the interim step might be is some kind of a tutoring for special ed like you're self-employed and that way you control your hours and you control the number of hours

to where you can work through and around the the the physical limitations does that make sense okay yeah okay yeah something like that because you've got to create an income kiddo and i don't mean that i'm not i'm not being that i'm not shaming you i'm saying i'm not saying you're lazy i'm just saying you don't have an option money has to come from somewhere it's not going to magically appear because you're sick and angela and i think what dave is saying here, too, is the tutoring part. You could do that online. You know, you could do that online, create two to three hours a day. And a lot of school teachers are doing that right now. And so if you can be on

the phone with us, having a conversation with us here, then you could be doing that online, creating some income until you can hit your goal to get back it might actually even be better than going back in the classroom long term if you could build up a huge number of online clients and a few clients that you saw in person that you controlled the level of fatigue that you could you know that you can manage your fatigue you can manage your stress right and but if you go back in the classroom you have to show up it's very very rigid. Being self-employed, it's not rigid, and you could move it around if you were doing some physical one-on-one tutoring and a bunch of online. I'm with Anthony on that.

I think that's your answer. But the trick is this. Finding something some way like that or something like that that creates an income while working around and through your physical limitations. And, you know, hopefully, as you said, the healing curve will continue. And 10 years from now, we're talking to a lady who used to have this, you know, and now is back in the classroom and living a perfectly normal life, got rid of the stress of a toxic marriage, helped healing and found a good doc that helped the healing and you do the supplements and that helped the healing. And over time, you know, that's where you get to. I, I see some hope out there in the future. I just want you to

not starve in the meantime. And that's what I'm working towards. So what I'm going to do is I'm going to send you a copy of Christie Wright's's book, Business Boutique, Equipping Women to Make Money Doing What They Love. And you really need to plug into that business boutique community. And again, I feel for you. I don't know what to tell you, but it's just a math problem. You're going to need money. And money doesn't come from anywhere but work or disability, and you've been turned down for disability and money doesn't come from anywhere but work or disability and you've been turned down for disability or it could come from spousal support that goes five years from him i don't know i don't know what kind of money he makes and what the judge will tell you in your state what your attorney will tell you in your state as far as alimony laws go uh but um

yeah that's the uh the sooner you get all of that managed, the sooner your stress level is going to go down, and I think that's going to promote healing for you too. Just like you said, when you left a bad toxic marriage situation, it's promoting healing. So stress is not your friend is what you're telling us. And a plan, even if the plan is spartan and sacrificial, is less stressful than no plan and the unknown will absolutely drive you bonkers and so uh ambivalence is worse

than bad news on the human stress factor so hey thank you for calling in kiddo and as you're fighting through this if you need some help you call call us back. We're on your team. We'll help you. Open phones at 888-825-5225. Lucy's on Twitter, Anthony. She says, would you recommend selling all my vested restricted stock units in order to pay off our car loans? Yes. Yeah, you own single stocks in a company that has either gone public

or is a small privately held company, one of the two. That's why they were restricted. And if you can sell and get out of them and be debt-free, yeah, you wouldn't borrow on your car to buy those stocks. So, yeah, we're getting out. Getting out. This is the Dave Ramsey Show. Thank you. Hey, folks, there's literally never been a better time to try online grocery. My friends at eMeals make it incredibly easy for you.

eMeals creates a shopping list based on the meals you want for the week and then directly sends it to Walmart, Kroger, Instacart, Shipt, or Amazon Fresh. Your choice. Head to eMeals.com slash grocery. Find what delivery and pickup providers are available in your area. Try eMeals free for two full weeks. That's eMeals.com slash grocery. My co-host on today's show, Anthony O'Neill, Ramsey personality, number one best-selling author, answering your questions here, 888-825-5225.

George is with us in North Carolina. Hi, George. Welcome to the Dave Ramsey Show. Hey, hey, thanks. How you doing? Good, man. How can we help? Well, I just want to start by saying I trusted Christ September 10, 2008,

and I'm a saved man. And following your teachings in Utah now now i'm also financially secure so i'm very happy to uh to say i know that uh it kind of links up there absolutely very cool congratulations on all of it well done sir a lot of peace my wife and i the thing that you guys do really well and anthony you too i i'm including you know all your whole team is the vision that you guys put in a picture and that's what kind of sparked me to all this was seeing a big picture and my wife and I are sitting and talking I'm 35 38 according to our financial plan 100% debt free house would be out I called a few weeks back about retirement we're all set up what what in the world am I doing from 35 to 67? I want to be

generous. I want to find good things to give and to donate, but are you boosting up emergency fund more? Are you investing 50% of the income? Are we going off the grid, not dealing with any of this? I mean, I'm just trying to think what some ideas are for that time. Yeah. Well, baby step seven is where you are, and congratulations. You've done very, very well. I'm going to send you a copy of the last book I wrote, which was called The Legacy Journey. And what I've ended up doing in my career, George,

is I ended up writing books based on where I was. And The Legacy Journey is when I hit the question. When I started asking myself the questions spiritually and financially when I was at your stage and where do we go from there. There's only really three things you can do with money. You can give it, you can save it, and you can spend it. And you ought to be doing all three from this point forward. Obviously, you know, and what Sharon and I have done in your shoes is we just said a percentage. Forty percent is for taxes. Ten percent is for tithes.

So that leaves me 50% for additional giving, some lifestyle, and some investing. And so I'd suggest people just take a percentage of that 50%, and so maybe you want to invest, maybe you want to give another 10, and maybe you want to live on 5. Well, that would leave 35 to invest or something like that i don't care you decide what the percentages are but that's a good way to manage it to where you have a good balance where no matter how wealthy you become you're always enjoying some of it giving additional above the tithe some of it and always investing really what you're doing at this stage of the game is you're changing your family tree

because that level of investing is wealth building beyond. And that's what we've been doing for decades now, Sharon and I. And so, you know, you're moving from everyday millionaire status then into deca-millionaire, $10 million, $20 million, $30 million, and you start to realize, okay, you okay, there's a lot of help, a lot of generosity that's incredible that you can do at those stages. And that level of generosity also requires more research and more responsibility to do it wisely and not be funding something that's misbehaving or something. And so that's when we formed a family foundation as an example, and we hit

that level. But I do want to encourage you, sometimes when people hit this, they go all in on investing or all in on generosity or all in on enjoying all the money. And that's why I think you ought to be doing all three to create a good mental health balance and go, hey, you know, it's weird to us that we're going on a trip that's this expensive, but it's a very small percentage of our world. It's weird to us that I bought a car that costs that, but it's a very small percentage of our world. And so it allows me to enjoy some of the money. It allows me to give it and not think about it because I've got it budgeted.

It's a percentage, and I've got this chunk of money right here that's allocated for generosity, and then that keeps that flowing. Does that make sense, George? Yeah, it does, and that's what I'm looking for because right now we're so focused on the house and living the way we're living. Yeah, you get that knocked out. How do we do after that? It's a whole opportunity that I don't want to screw up, to be honest with you.

I want to make the most of that opportunity as much as everything before, so that's why I'm asking. That's a really good question. question and then on the investing the portion of it you decide to continue to invest um you know you're going to be obviously maxing out your retirement plans and Roth IRAs and uh whatever's available to you but you're going to go way beyond that on investing and then you're going to decide what do I want to own what do I want to invest in as a as a managing God's money and I need to do a good job of it and so I'm not going to invest in anything I don't understand. And, you know, in my case, I grew up in a real estate family, so I've been buying real estate like crazy, paying cash for it, obviously.

But my net worth is not – I've got millions of dollars in mutual funds, but most of my net worth is in real estate. But that's just what I'm comfortable with. You may not want to do that. You may want to go the other way. But I find that wealthy people that do stuff the way you've done it, they don't invest in super complicated things. Sometimes people think, oh, well, I've arrived at a different level,

so now it has to be complex. It really isn't. Most of the guys that I know that have $20 million, $30 million, their investments are very simple. You know, just mutual funds and real estate is what mine is, as an example. Okay? And so don't be afraid to stick with what you know, dance with the girl that brought you here, you know,

and don't be afraid to have people not understand some of your purchases because it's none of their business. And, you know, don't be afraid to have some, you know, where, you know, you buy a car that costs X and you you give away 100x but they don't know about the giveaway 100x they all only see the car yeah and so they think you know you went on a trip that cost x and you give away 100x what that trip cost in uh donations to ministries that you support and think you know things like that but all we're doing here is we're managing god's money and we're saying take care of your own household and

you know, a godly man leaves an inheritance to his children's children. There's a legacy piece here and do your investing in the house of the wise, the stores of choice, food and oil and be outrageously generous. God loves a cheerful giver. And you know, you're walking right through the scriptures here.

There's a biblical framework for what we're talking about but it's also very commonsensical so hold on i'll have kelly send you a copy of that legacy journey book uh it's the only book i've ever done that's a christian book all the other books reference my christian faith and i i'm not afraid to talk about the biblical principles in the other books but this book is straight up a bible study you know dave one of the things i've learned from just being up underneath your leadership principles in the other books, but this book is straight up a Bible study. You know, Dave, one of the things I've learned from just being up underneath your leadership here the last few years

is you are leaving an imprint in the world. And when I think about Baby Step 7, I'm also thinking about, okay, where do I want to leave my imprint? You know, and my heart, one of my biggest things for me is youth and young people. And so I give a lot into schools. I give a lot into for scholarships. And so, George, while you're asking yourself, what can you be doing during this time? Just identify, you know, where do you want to leave an imprint and start giving into that, start investing into that? Because when I die, I want the world to say, man, Anthony really loved young people. He really loved this, and he gave into it. Your treasure is where your heart is.

Yes, sir. It shows what you cared about. Yes, sir. And that's one of our guidelines, Anthony, with the Family Foundation. Yes, sir. That Denise runs, her daughter. And we don't just give randomly to things that no one ever heard of or that we never heard of. We give to stuff we care about.

Yes, sir. And like you, what's on your heart? Scholarships, care about. Yes, sir. And that, you know, like you, that's got what's on your heart, scholarships, young people. Yes, sir. That's what you would do. And so if one of our family members brings in and goes, hey, this is on my heart, I think God's speaking to me about this, then that qualifies to be talked about for the Family Foundation.

But just a random thing that none of us have a connection to? No. It could be a really good thing. Could be. But it's not our assignment because our assignment is the things where we want to leave an imprint. I like that. That's not our assignment. Not a bad thing. It's just not my assignment. I'm not the Messiah.

I like it. I'm just a little bald hillbilly. That's Jesus' job. The whole thing's not my assignment. And I had to release that a few times. Like every day. That puts us out of that a few times, like every day. That puts us out of the Dave Ramsey Show in the books. In the middle of these uncertain times, Ramsey Solutions wants to give you some hope.

For the very first time ever, we're giving you Financial Peace University free for 14 days. Go to DaveRamsey.com slash hope so you can watch from home.