The Ramsey Show - App - When Are You Gonna Get Sick and Tired of Being Broke? (Hour 1)

Episode Date: April 30, 2024

Live from the headquarters of Ramsey Solutions, it's the Ramsey Show, where we help people build wealth, do work that they love, and create actual amazing relationships. Ken Coleman, Ramsey personality, number one best-selling author of the book Paycheck to Purpose and host of the Ken Coleman Show is my co-host today. We're going to be talking to you about your life and your money and Ken especially talking about your work and how to get some done to make you some money. Open phones at 888-825-5225. Linda is in Miami. Hi Linda. Welcome to the Ramsey Show. Hi, thanks for taking my call. Sure, what's up? So, my sister has been on probation from work for the past few months, and

she just told me this last week. So, it looks like she's going to be laid off or fired for poor performance, and she's called to let me know that she's going to be moving in with us. So this is not okay with me for several reasons, you know, financial boundaries, home dynamics, etc. So I don't know what to do. I mean, I feel really bad. She's my sister. I have an extra bedroom, but I don't really have the space or, you know, I'm in debt myself, so I can't take on another person. And so I'm just calling to get your advice.

How old is she? Almost 60 or 59. 59? Yes. I thought you were going to say 19. So why can't she perform at work at 59 years old? Well, I've seen this been coming for years. She's very unmotivated.

She's smart. She has two master's degrees. She's got a six-figure job, but she's just let her life go downhill slowly. But surely, you know, her weight, her finances, her job performance. There is some prescription pain medications that come into play, which I think just that per motivation to perform well. But, you know, she's let this happen to herself and now I feel like I'm expected to solve her problem for her yeah and and so you and I both know that loving her well is not allowing her to continue on the path

that she's on instead make her face down these demons and turn the corner on them right right exactly and so coming to hide in your spare bedroom is just enabling her continuous right i agree i agree and just tell her that just tell her that she'll be very i love you too much i don't care i love you too much to allow you to continue on this path or me to participate with you on you continuing on a path that is destructive to you. You have refused to address your lack of motivation, your painkiller addiction, and your weight. And you need to address those things, and you can't hide in my spare bedroom and not address them

because I love you so much. Okay. And then she's going to be angry at you. Right. Very predictable. Because she feels entitled to be angry at you. Right. Very predictable. Because she feels entitled to something that's not hers, your bedroom. So, and she's also kind of using that card because, you know, it was our family house. Well, I'll explain.

So, I care for our elderly mother in my house. And in my mom's will, you know, is she gives us the house 50-50. But I'm explaining to her that upon my mother's death, that doesn't mean right now. So it's not your house. It's your mother's house. So I have to take out a mortgage on the house. No, it's your mother's house.

Well, true, but I want to be more. Is it in your name or your mother's name? It is. Okay. Quit talking around the barn, then. It's your mother's house. It's not your house. Okay, but I'm on the deed, so I don't...

Well, how'd you get on the deed? Well, because I had to take a mortgage out on the house to pay for my mother's caregiver, and since my mother doesn't have a job, I had to get a mortgage. In order to get a mortgage, I had to get on a deed. Are you single? I am. Okay. How old are you?

I am 54. Okay. All right. Well, you're the owner of the house, then. Your name is on the deed. It's not your mother's house. I was wrong. It's your house, okay, and your mother's.

Okay. You and your mother own it together. Your sister is not on the deed. I was wrong. It's your house, okay? And your mother's. You and your mother own it together. Your sister is not on the deed. Correct. Okay. Then she doesn't have any rights. Morally, legally, ethically, emotionally, nothing. Now, the instant that your mother passes, you will be selling this house

because you're going to be required to otherwise own half of it with said sister and that ain't going to plan either no yeah no so be ready to move right well i'm hoping to get all my ducks in order i've been listening to you um non-stop so i'm hopefully hopefully i have a few years to get all my finances worked out so okay here's the thing i'd like to do a couple a couple of basic henry cloud type principles in here from the book boundaries let's just recant them i'm just channeling my inner dr john deloney ken and um so i think the uh the first principle is people who don't have bound don't respect your boundaries are always upset when you put a boundary in place yes we've had that so as soon as you say no expect her to have a little duck fit in the floor just walking and flapping around and all that

stuff that she does okay and then she's going to play the guilt trip card and she's going to play all the cards that people play when they want something that's not there right she's telling me she's going to have to live in her car oh bull, bull crap. How about get motivated and get a job? Or how about just actually doing your work at your job so you don't get fired? If you're living in your car, sweetie, it's your fault. Right. Okay. So, and that's rule number one.

Okay. It is that you set a boundary with boundary list people. They 100% of the time get upset. You just always expect rule number two enablers are nice people that give drunks alcohol because they are too sweet to say no but it's not real love real love is i want you to have a better life my sister living in this bedroom hiding from reality continuing to spiral downward is not good for you i love you too much to let you live here it's not about you in this case in this discussion linda it's about her you care too much about her

to give a drunk a drink to allow her to continue's true. To allow her to continue in a lazy, unmotivated, painkiller-addicted, obese manner. Right. None of these things are good for you, sweetie. I love you too much. You're not addressing the stuff in your life, and I'm not going to go there. What do you got, Ken? I just hear a person, Linda, you're afraid of her, and there's some history behind that fear. Oh, she's your older sister.

Yeah, she's the older sister. Am I right that there's some fear based on history? I don't have fear. I guess I feel sorry for her. It's kind of like something's turned, and I'm the bigger sister, and I care for my mother, and I take on all the responsibilities. Yeah, but my point is you're afraid of letting her down. You're afraid of this conflict. Like her future is on your shoulders.

And here's what I'm going to tell you. Yeah, I do feel that way. I know. So here's what I would tell you. Everything Dave said, I rubber stamp. But I would say this. You're going to have to choose today to focus your mind on how awful your life will be if you let her come back into it

instead of focusing on how awful it's going to be when she throws her duck fit. And Dave's right. That's going to happen. But I think you have to choose between the two evils, and her being in your house is way more evil than you telling her, grow up, sis, for her. Love her well enough to help her heal. This is The Ramsey Show.

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America. We're so glad you're here. Open phones at 888-825-5225. Well, we are in a couple of weeks here on the 21st and 22nd. George Camel and I will be doing Dave Ramsey's Investing Essentials. We're going to go in-depth into investing beyond the baby steps. Detailed investing. People have asked for many years, what do you do when you get into, you know, get past 101 and you go to 201, 301 in graduate school investing? What do you do? What do the people do that have a $10 million net worth or greater? What do they do? How do they think? And we're going to go into it. And I'm actually going to open my personal playbook, how I analyze a piece of real estate before I buy it and how I make a decision on an investment and what are the principles I use. And they're also

the principles I've taught you guys. So we'll cover the basics real quick and then we're going to go into in-depth stuff. And this is an online virtual event i'm doing it two nights it is two different lessons so you're going to be you're going to be involved in front of your computer or television or however you're going to do it uh two nights in a row may 21 and 22 and uh it's something you ask for a deeper dive you want to know how i do it and this is it so tickets are 249 dollars it's ramsey solutions.com slash events uh over 2 000 folks have already signed up it's a huge event and uh we're really really excited to get to do this for you guys i was polishing some of the uh content with the content team this morning and really starting to build out some of the slides and some of the examples i haven't the

stuff i've never taught before in public so yeah it's very interesting. Yeah, I think it's extremely valuable. And for the record, I followed this playbook as well. And Stacey and I are going to be very comfortable in our old age, assuming that she allows me to make it that far. That part's up to me. There you go. All right, Jessica is in Madison, Wisconsin. Hi, Jessica. How are you? I'm great.

How are you? Better than I deserve. What's up? So I am a divorced mom of two teenagers and I've been following your program actually since 2007. So I don't have any debt, no mortgage. I have a large savings and investment. I currently own a home worth about $600,000 and my boyfriend of two years recently just moved in in January and things have been going fantastic. However, we are looking at purchasing a home and we're just figuring and trying to figure out how to navigate that. So because I don't have debt. What's wrong with the house you're in?

It's 5,500 square feet, and I'm looking at a 900-square-foot home right now. 900? Yes. Okay. And it's like a weight lifted off my shoulders thinking about that. Wow. It's like a weight lifted off my shoulders thinking about that. So I'm anxious just to have something that's, you know, he and I and smaller and manageable. Where are your kids going to live? Currently they live between my ex-husband and I.

They're 13 and 16. And you're going to put two teenagers in a 900 square foot house after they're used to living in a 5,500 square foot house? Yes. So the 900 square foot house is going to have a small addition on it. It currently has two bedrooms and one bath. We would do an addition of one master bedroom and another bathroom. Oh, so it won't be 900 feet anymore? Yes, correct. Okay. And what will that cost, all in? So the home right now is about $200,000, and it's about $250,000 for renovations. Okay.

Okay, I'm okay if you want to do this. If I were your older brother and you called me and said, you know, should I do this, I'm okay if you want to do this. If I were your older brother and you called me and said, you know, should I do this? I'm okay with you doing it. There's absolutely zero need for your boyfriend to be involved, legally or financially. If he wants to be involved legally or financially, he needs to be a husband. Yes, and that is something we are talking about. Well, then do that first. Let's get stuff in the right order.

Don't buy a house with somebody and put your name on a deed with somebody you're not married to that is a freaking nightmare yeah that's not the plan that's not the intention it would be under my name but that's what i'm wondering how do we navigate the financial piece of bills of taxes of renovation those kinds of things you're going to own it and you're going to pay for it all and it's going to be your house and then if he leaves it's not a problem at all unless he's your husband okay you do this deal because it's a good deal for you he moved in three weeks ago he and he does not get to own the house he moved in in in January. I know, but you can't. I mean, 20 seconds ago, right? I mean, it's not.

Yeah. You're going to charge your boyfriend rent? Do you think that's good? Well, no, I'm not thinking rent. Well, you're asking how he's going to get his, how he's going to get in. He doesn't need his hands on any of this, and you don't need any of his money. You've got plenty of money. You sell a 600,000 square foot house, you end up in a 400,000 square foot house

i mean 600,000 house you end up in a 400,000 house you can do this if he's not there and you need to do this by yourself or you need to be married one or the two because here's what happens you split up now you got to tear all this apart and guess what you're gonna end up selling this house and moving again just to get the mess cleaned up because you formed a partnership legally it's a disaster so that's not really any my question my plan you ask how to navigate doing this with your boyfriend i just told you don't i'm i'm sorry so not doing it with him on the deed or anything like that but him living with me essentially in that home. Yeah, and you asked how does he pay his expenses? I'm sorry.

So what is it you want to know about him living in the home? We must be missing something. So do we split monthly expenses? What does that look like? What is your suggestion with that? That's completely up to you guys. Whatever you guys want to work out, you're roommates. Okay. So that's why it's much better to be married then you don't have to fight over the dead gum who used the mustard okay you just fight over who left the refrigerator door open but not

who uses the mustard right so right yeah whose mustard is that anyway that's what happened in college with your roommate it just doesn't make sense. Don't do it. When we do get married. When you do get married, it's all one. We all own. It's yours. There is no yours and mine. It's ours. But until you're married, you have a roommate.

Okay. And that's why it's not recommended because it's very difficult to navigate emotionally, relationally, and everything else the number of couples that far exceed are the couples that are married financially the data tells us the actual research tells us the couples that are married far exceed in their wealth building and their careers the couples that are shacking up the numbers are undeniable there's no question about it and yet today in america more people live together that aren't married than are so there's more shack ups than marriages in america today and yet the data is crystal clear that those of us that are married we have what's called the in the statisticians call it the marriage advantage in that we outpace in our

incomes and we outpace in our wealth building those that aren't married and check up and so there's just no reason to do this i mean either get married or don't paint or get off the ladder you know but if you're gonna do it you're just got to figure out the terms of being a roommate but please god don't put him on the deed and don't don't don't let him put a hundred thousand dollars into this deal to get this master bedroom added on and all that crap. Then you've got to figure out how to give him his money back when he decides he likes somebody else, or, oh, it's a painful mess.

And so, yeah. I just think charging your boyfriend for utilities and rent just is a recipe for tension. We know that money issues are the greatest cause of tension within married couples. My goodness. I just don't know why you'd do it. I think you need a little bit of patience. You're a mature woman who's in good financial stead. I just don't know why you'd even take this on. I think it's creating unnecessary relationship risk. That's what I think. Yeah. But anyway, do whatever you want to do, hon. But number one rule is don't buy houses with people you're not married to. You're saying you're not going to do that.

That's good. Number two rule is it's very difficult to navigate through what you're talking about as far as who pays for what inside of these things. People have all kinds of different models, and some of them are more successful at it than others. And then number three, the marriage advantage in the statistics is something to seriously consider and so we always are big fans of marriage around here um because it you know because it's what's good for you and we love you guys we want you to win it's that simple this is the Ramsey Show.

Ken Coleman, Ramsey personality, is my co-host today. In the lobby of Ramsey Solutions on the debt-free stage, Mark and Kelly are with us. Hey, guys, how are you? Hey, guys. Good. Good, good. Where do you guys live? Fort Collins, Colorado.

Oh, fun. Very cool. Well, welcome to Nashville. All right, and how much debt have you guys paid off? $305,000 in 84 months. Wow. Very good. And your range of income during that time? About $145,000 to $300,000. Okay, cool. Good for you. What do you guys do for a living? Well, I was a general contractor and just switched careers to a business consultant. And I am an environmental scientist with a large environmental consulting company.

Wow. Very cool. And what kind of debt was the $305,000 for seven years? It was our mortgage. Look at that, weird people. We've been waiting a long time for you guys to call us that. That's right. I like it.

How old are you, weirdos? 47. And you have a paid for house in fort collins colorado we do that is worth what 675 i love it and how much in your nest egg in your 401ks and stuff about 750 ah look at you baby steps millionaires yeah way to go man that's it's so weird to say isn't it it feels incredible you don't you know you don't look like a millionaire you don't feel like a millionaire. You don't feel like a millionaire, but you're a millionaire. That's right. Way to go, man.

That's right. Way to go. That's so cool. Good for you. Good for you. So seven years you've been working on paying off your mortgage. Tell us the whole story. How'd you get engaged in this Ramsey stuff?

Dave, Ken, 2010, I hit a low point. I was recently divorced. I was a single dad of a two-year-old renting a small condo. And I took my daughter to this neighborhood park with these cute houses around it. And there was a real estate sign for one of them. One of them was on sale for sale. I read the sign, looked at the price, and it just hit me that with all my debt, I think I was about $70,000 in debt. I am never going to afford this. And I just felt so terrible about myself at that moment. I went home, felt sorry for myself for a few days and decided a few days later, before I even heard of you guys, I was never going to

borrow money again. I was done with debt. I was going to pay it all off and do it a different way. About three months later, my church is doing FPU. I didn't want to pay the $100 because I was so focused on paying off my debt. And the facilitator scholarship me in and just made me promise that I would help facilitate a future class. So when I got in the class, I was just ready to go. I was primed. You were already going. Everything you guys in the class i was just ready to go i was primed you're already going everything you guys were saying i was just all we did is tune up this engine that was already going that's right that's right so i was single at the time and then i met this wonderful woman we got married and then yeah it didn't take much for me to get on board i always thought i was good with money because i had a good credit score and i paid all my bills on time. But it wasn't until he kind of introduced me to the baby steps and,

you know, all the Dave Ramsey material that I was like, oh, wait, here's a path to do more. I had never even dreamed that like you could have a paid off house at our age. That wasn't even in my mind. I thought if you paid your bills on time and had a few thousand dollars in savings, you were like living the dream, you know. know you know i'm struck by how many months this is a sizable payoff too but you guys stayed with it i'm curious for folks listening and watching what'd you learn about this process of discipline over that length of time seven years well we learned that together we can do anything um in those seven years, we had cash flowed IVF. We cash flowed some house renovations after we paid off our consumer debt.

We paid that $40,000 off in the first year. And then we bought a really nice car. And when we bought that car with cash and we had this thing, I mean, that's the moment that I knew we can do anything. And we set this goal and said,'s the moment that i knew we can do anything yeah and we set this goal and said we're going to go after it oh is that the picture of the dodge ram and that we just saw on youtube that's the new one that's the new one oh that's what you just got so that's how you celebrate it yeah that's right that's brand new yeah well brand new to us oh no

it's not it's not new no oh you're millionaires and you're you can get one of yours still cheap come on very very gently used we're easing into the that's a great way to celebrate paying off your house buy a truck yeah that's right that's right oh yeah yeah dodge ram appreciates the free commercial that's right but i would like to back up and just say when we first got married we paid off the 40k and then we were newlyweds and we wanted to expand our family and it wasn't happening two and a half years later we were like okay maybe we're not going to have a you know a family but then we decided to do IVF and because we had been diligent with our finances and we had paid off all of that consumer debt we had the cash saved up to do it and it was such a blessing to not have to decide

between expanding our family and paying off debt. It just felt like once we committed and we took all the right steps, the blessings abounded. We were generous through the whole seven years, and things just fell into place. When we were doing the right steps and we were taking it seriously, things worked out every time. They flipped the picture on and then back off.

How many people in the family now? How many kids? Five. Five? I i'm sorry three of us yeah three kids five three kids and you're yours from before is one of them right okay our middle is his daughter and then we have a 19 year old daughter we were blessed with through foster care and we have our six-year-old son that we had together i love it okay i Okay, I'm catching on. Okay, now I see it. All right. Wow, way to go, guys. So I think this is an important thing to just stop and say,

if you're out there listening and you're sitting in a park with your two-year-old looking at a house you can't afford across the street that just went up for sale, that was 2010. This is 15 years later. You're worth $7 1.5 million dollars and 100 debt free happily married kids everywhere so that hopeless person sitting there after a divorce beating themselves up 15 years from now you could be these guys. I mean, this is a complete story right here. This is a full story arc from the bottom up. Can I add just a little bit to it? Yeah.

So I come from an immigrant family. I was born in Russia. We came to the United States in 1981. And I might get a little sappy. I'm not a crier, but I might cry up here. Guys, my family worked so hard, you know, coming to this country with absolutely nothing. And all they wanted for us was, you know, for us kids to have a better life. And I had messed that up so bad, you know, and realized that in 2010.

So to be here on the other side of all that. And, you know, my dad died young he ended up developing mental illness sorry guys and you know just to tell my parents and my dad in heaven you know that we did this yeah thank you so so much for all the sacrifices that you guys did for us and and we just hope we've we've made. You have. You're heroes, man. You did it. We're so proud of you. Well done, well done, well done.

Who were your biggest cheerleaders? Each other. Each other. Financial peace classes, because you must have gone back and coordinated, right? And we facilitated some. We did the legacy journey. We facilitated the legacy journey. Yep.

But back to what he was saying my family is also an immigrant family my grandparents came in from denmark they had seven kids they didn't speak english they worked lived in a church and so it's like a legacy right the sacrifices that our grandparents and parents made i feel like they're our cheerleaders amen you know they set the platform for us to have this opportunity amen amen well done well done well said well i just think your story is fabulous because you painted the picture so with such bright color where we could feel ourselves sitting with you in that park looking at that house you can't afford and getting disgusted with yourself i've done the exact same thing get disgusted with myself and that's right before crap changes i'll just tell you man you get sick and tired of being sick and tired that's when it

changes that's when you transform it's not when you figure the math out it's when you get mad that's right a righteous anger at the situation and that just changes everything and uh until then you're just wandering along another another broke person in america that looks like they're not broke right and you you straighten it up man i'm so proud of y'all thank you well done very well done mark and kelly fort collins colorado 305 000 paid off on their 600 000 paid for house and oh yeah they're baby steps millionaires in the process what a great story you. You guys are inspiring. Very well done. $305,000 paid off in 84 months, making $145,000 to $300,000.

Count it down. Let's hear a debt-free scream. Three, two, one. We're debt-free! Yeah! That's how you do that. Woo! I love it.

This is The Ramsey Show. Ken Coleman, Ramsey personality, number one bestselling author of the book Paycheck to Purpose, is my co-host today. Michael's in Atlanta. Hi, Michael. Welcome to The Ramsey Show. How you doing, Mr. Ramsey? Better than I deserve, sir. How can I help? So, I just want to say I appreciate everything you do for everybody.

I grew up in an awesome family, awesome life and everything, and my two financial advisors were Clark Howard and Dave Ramsey. So, I'm honored to be able to finally get her into a phase of life where I can make this phone call and be able to talk to you. So I thank you for that. Well, thank you. We're honored to have you. How can we help?

I'm sorry. I'm sorry. Say it again. I said we're honored to have you. How can we help? Yes, sir. So I'm 27 years old, and I work for my family business. My second job is an ice business, and the owner is wanting to sell within the next two

years or so. The sale will come with the building, with existing tenants, and the ice is wanting to sell within the next two years or so. The sale will come with the building, with existing tenants, and the ice company itself. He's asking for $1 million. As a married 27-year-old running from my parents with no meaningful form of assets besides vehicles and what we have in our savings and investments, what do you think the best way that I can get a loan that big

for that size? Me and my wife currently are living at my parents' house. We have no form of debt besides, or thanks to you, no debt. We work hard to pay off all of our student loans and credit card debt and everything. We do have one car loan right now that we're trying to knock out as quick as possible. But like I said, no form of, of assets or anything like that. Well, I, I'm a little bit confused about the part where you listened to me for years and then you just asked me how you can borrow a million dollars right that's a

little bit inconsistent isn't it i mean you kind of know i don't do that right yes it is and and with the other previous collars i was thinking i should maybe i should change the word from borrow to be able to obtain the business for that price. So I do apologize. Let me back up. What is the best route for somebody in my shoes to be able to obtain the business? Okay, because, well, I mean, you don't have a million. No bank's going to loan you this, okay? Like you said, you don't have the assets.

You don't have the income. You're not bankable. A banker would just, it would take about, I don't know, less than four or five seconds to make the decision. You're not going to get that. So even if we all thought that that was a good idea and we don't. So what I would do is the first thing I do is separate the business from the real estate. Okay.

Let him keep the real estate. Good to go. And the business can be his tenant until you save up the money to buy the real estate later you could do that out of the business so what do you think of the million dollars what do you think the real estate is actually worth market value so we haven't dug into the books or anything no i didn't ask you about the books i asked you about the real estate what's the real estate worth the building approximately 750 000 okay so you're wanting to buy an ice business for 250 000 bucks What's the real estate worth, the building? Approximately $750,000. Okay, so you're wanting to buy an ice business for $250,000.

Sounds right to me. Okay, so it should be making a profit after everyone is paid, including the manager of the business. After everyone's paid market wages, that business should be making a profit of $60,000 or $70,000 a year, is it? $60,000. Oh, you haven't gotten into the book yet. You haven't gotten into the book yet. You don't know.

Correct. Correct. This is something that I want to try to figure out a route before to see if it was even attainable before I dug into the book. Let me ask a real quick question, okay? Yes, sir. If you weren't working for this owner and they had not approached you about selling, they want to exit,

would you be wanting to get into the ice business if you weren't currently working for them and this wasn't an opportunity? I believe so. Okay. So, like, if you weren't working there anymore anymore a year from now you'll be going i got to figure out a way to get in the ice business uh i i believe so i think it's very lucrative and i see a lot of opportunities in the in in the ice world itself um so i'm glad i was introduced to it very young yeah and i think i think my answer would still be

yes that's not your family though that's the your family's a different business correct okay i'll make sure i got that straight okay all right um now here's what i would tell my son if he was your age and came in and sat down at my kitchen table i would say you need a better you need a stronger personal financial foundation before you start talking about buying and running a small business buying and running a small business will take the bone marrow out of you it you it will drain you it'll it'll squeeze you like yesterday's dish rack man you got because it it becomes a mistress if you're not real careful, cause you have to put everything, your, all your emotions, all your intellect, everything into it. And you got a car payment and live with your mama. So you're not ready to do that.

So you guys need to get out on your own and be debt free and have a solid foundation in your life before you start talking about buying business. This is what I would tell my own son. Okay. Okay. And can I, can I ask you a question correlating to that? Sure. I see this opportunity and I can see this opportunity as a long-term investment, a long-term, a great thing in just long-term down the road and everything. I'm wanting, I'm not wanting to pass up on this opportunity as it comes to me right now and in my brain you could tell me if i'm wrong you're wrong and i know you i just told you you're wrong i just told you not to do it

pass up on it pass it let it go let it go get in the ice business later when you get your freaking act together you don't have your act together yet about all you're good at so far is talking yourself into this yeah it's not an opportunity it's a a trap. Yeah. With your current environment, Michael. You don't have any money. You have a car payment, and you live with your parents. I'm telling you, man, you really got to get out. You got to get out and get on solid ground to have a chance of making it in business. Business is hard.

It's hard, and you don't do it from your daddy's basement. It's hard, and you don't do it with a car payment. You know, you need to get a solid, solid foundation. And I don't think we can stop you. You got your foot on the pedal. You're heading off the cliff. Nobody sign bridge out, bridge out, bridge out. I don't care.

I don't want to miss a chance. I'm taking a jump. It's a chance to go swimming, Dave. That's it, man. That's the metaphor there. We can't stop you. So have at it, son. But I wouldn't do it. I'm son. But I wouldn't do it.

I'm telling you, I wouldn't do it. I think you're going to have plenty of times in your life to get into business and do it from strength, not from weakness. And you need to build some strength to do that. But it doesn't affect me, honey. If you want to do it, you go do it. But you ask what we would do, and we we love you and we want you to win i told you exactly what i tell my own son who i want to have a great life and prosper just like i want that for you so you

do what you want but i don't think you're in a position to do this right now and i would not do it i'm not a dream killer but i love stepping all over nightmares i love kicking a nightmare out the door yeah so oh here's a quick message for in this listen we've all been your age and bright-eyed bushy-tailed excited about what looks like an opportunity and this is a situation michael if you were to jump into this in your current environment you wouldn't even be able to be fully focused like Like Dave said, you need to be on a small business because of this financial stress. You're not in a position where this thing can take care of you. And I didn't hear enough evidence either, and this is a positive. I'm not piling on here.

I didn't hear enough evidence that he understood the business. Oh, he doesn't, yeah. And that he could truly grow the business in order to say, I could actually run the business. I'd like him to prove to the current owner that he, through his efforts, Michael, we're talking about, can grow the business. It's scary stuff. I would sit down and talk to the current owner, if you want to do this, Michael,

here's a way to salvage the idea, I guess, and say, put me in a leadership role for the next two years, and I can get my personal finances straightened out, and then I want to talk to you. I'll take an option to buy, and then I want to talk to you. I'll take an option to buy, and then I'll talk to you about exercising that option, but I'm not bound to it, not contractually. Love that conversation. And you can be sitting there, learn the business inside and out. You may learn, you will learn a lot more about it than you know now, and you may learn the actual valuation is off. Yeah, and that's such good advice. I hope everybody's listening

to that because that actually creates an opportunity. It doesn't mean it's a good opportunity, but right now what you have is not an opportunity. If you go the Dave route there, now all of a sudden it becomes an opportunity and then have the option to choose to take the opportunity. And that's what I like about that. There might be some sweat equity in that plan too, if he helps grow the business. The best business deals I have ever done in my life are the ones I passed on. That's so true. That's good. They're the best ones. Yeah. This is The Ramsey Show. Thank you. Bye.