The Ramsey Show - App - When Is It Okay To Drop Your Life Insurance? (Hour 2)

Episode Date: December 7, 2021

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🎵 Live from the headquarters of Ramsey Solutions, broadcasting from the Dollar Car Rental Studios, it's the Ramsey Show, where debt is dumb, cash is king, and the paid-off home mortgage has taken the place of the BMW as the status symbol of choice. I'm Dave Ramsey, your host. Thank you for joining us, America. George Camel, Ramsey personality, is my co-host today.

Open phones at 888-825-5225. Sonia is in Boise, Idaho. Hi, Sonia. How are you? Good. How are you? Thank you for taking my call. My pleasure. How can we help well um going through a divorce oh no sorry sorry sorry that's okay how long you been married just a short um four years okay just not not long um however um we are both debt free um he's

cashing me out of the house which is great so i'm getting 60 000 um we just paid off all the debt not the house but um we don't have anything in savings other than the $1,000, which is really nothing yet. So with the $60,000, I'm wondering what to do with it, whether I should put it in savings and wait and just rent or put $50,000 towards a house and save the $10, 10 for an emergency fund yeah how old are you 46 okay what do you make 54 okay good for you all right so you're in pretty good shape then financially your heart's broken right your checkbook's okay right right okay good well that's good news uh now the mortgage he's getting a new mortgage on the house to take you off the old mortgage and to buy you out of the equity right correct good because i don't want you on that mortgage when the smoke clears good okay right all. So it's a clean break in that regard in terms of the business aspects of this mess.

First marriage? No. Okay. All right. Cool. All right. Well, you're only 47. So we'll let the curtain go up and take the third act, right?

Right. Yeah. Okay. So this money is for your new life. uh we'll go we'll let the curtain go up and take the third act right right yeah okay so this money is for your new life and what do we want your new life to be i would recommend as much as your emotions are there and which means you're a human being okay because you have emotions it's good you're not a psychopath um and so your heart's broken and you cry and that that's a healthy thing, that you probably rent for six months and kind of let yourself, let your spirit get settled before you buy. I think you might be less likely to make a bad decision buying six months from now than you would right now because you're kind of discombobulated.

Would that be unfair? No. Okay. No. And, you know, just get settled in your job and settled in your stuff and just get you a little apartment nothing fancy six month rent and um you know in the fourth month of that start looking for a house okay maybe i don't know does that feel better than just rushing out and doing something right

now while all this crap's in the air? Right. Well, yeah. Yes. Yeah, regardless of what you do, you've got to have that three to six months emergency fund in place. Like Dave's saying, I've been where you are, Sonia, and it's a really hard position to be in. And the best thing you can do right now is just take a pause and heal emotionally and let that money sit in a savings account. It's not super exciting, I know.

But what you can do during that time is start to save up as well and make sure that whatever that next house is, start dreaming about that, dream about the future and focus on that, and you'll be in a great financial position to do so. Tim's in Phoenix, Arizona. Hi, Tim. Welcome to the Ramsey Show. Hey, guys. Appreciate you taking the call. How are you guys doing? Better than we deserve, sir. What's up? Good. I got a question that I don't hear addressed very often. My wife and I are both proud baby step millionaires. Way to go. I have a term life insurance policy that's going to expire next April. And I'm wondering if I have to replace it. How old are you? Replacing it at 62. Okay. Repl replacing it at 62 is a lot more expensive than it was at 42 i've heard the rumor yeah okay yeah all right and well so i mean the question is if you die

without any life insurance with the money that you all have does that money create enough income for her to live on yes okay so you don't need life insurance or self-insured okay i was just it was i just wonder if i should you know if i should just go ahead and get another 10-year term or not i i do have a hundred thousand through work covered that which they pay for yeah you'll have that anyway then uh but you know so your net worth is what? $1.2, $1.3. What's it invested in? Mostly mutual funds, and I've got about $400,000 equity in the house. Okay. All right.

And so she can live off of the income that that has created, correct? Correct. Yep. And are you healthy? Yeah. I do have a little bit of a heart issue. But 69, these mutual funds will have doubled again. Yes.

And so, you know, every day you live, she's better off. I plan on working five more years. I just get my plan and I don't work another five years. Yeah. Every day you live, she's better off. Mathematically. It's a good clarifier. Like I said, I had never heard an address as far as, you know,

when is it okay not to have life insurance? When kids are grown and gone, the house is paid off, and she can live off the income of the nest egg, then you don't have any need for life insurance. You have done financial planning. You've gotten out of debt, become a millionaire. Way to go, baby steps millionaire. And you are, you know, she's taken care of. You are self-insured. Your need for life insurance goes away. We are so conditioned by the life

insurance industry to think we always need it. They even named it whole life. You're going to need it your whole life. They've conditioned us to think we have to have it, you know. And the only thing know and the only thing that that the only part of insurance that lasts forever is their need for a commission and so it you know no thank you i i you know i'm 61 and i've got hundreds of millions in my net worth and um i just now talked sharon into letting it go yeah but she had it was just an emotional crutch and it didn't cost that much but i'm like you i'm at the point now that renewing it is freaking ridiculous because i'm

we're about the same age and uh even if you're healthy right and so um but yeah it was swi for a while sharon wants it it had nothing to do with financial planning and nothing to do with mathematics and so i should rather have that than another diamond we sure appreciate what you all do because we followed the plan and and uh it worked i mean it's uh you know definitely works so hey we appreciate you man you're what this economy is all about and you're why we come down here every day another baby steps millionaire followed the plan self Self-insured. That's what this new book's about. It's kind of boring.

I like boring, if it means millionaire status with no stress. It's like, how can I be Tim? That's what Baby Steps Millionaire is all about. Tim, 1.4 million, 62 years old, no debt. And do I need to keep this expensive life insurance? Nope. How can I be Tim? I'll teach you how it's called baby steps millionaires how ordinary people build extraordinary wealth and how you can too but if you want get rich quick or sexy don't read my stuff there's a book for that it's your book not mine but we don't know i mean we don't even have that no no we don't have

that at Ramsey. Most people know me as the guy who did stupid with a lot of zeros on the end. I made my first million dollars in my 20s the wrong way and then went bankrupt. That's when I set out to learn God's ways of handling money and I developed the Ramsey Baby Steps. By following these steps, I became a millionaire again and this time the right way. After three decades of guiding millions of others through the plan, the evidence is undeniable. If you follow the Baby Steps, you will become a millionaire and get to live and give like no one else. And now I'm excited to share with you that I've written a new book called Baby Steps Millionaires, and it's available for pre-order right now. You'll learn how ordinary people built extraordinary wealth and how you can too.

I'll walk you through how to invest, build wealth, and bust through the barriers preventing you from becoming a millionaire. For those who are ready, it's game on. You can baby step your way to becoming a millionaire. Pre-order your copy today at RamseySolutions.com. Well, if you're a long-time listener, you probably heard a debt-free scream from somebody that changed their life with Financial Peace University. And if you've gone through the class yourself, you're finally discovering some freedom with money. Maybe you're a Baby Steps millionaire already.

Maybe you're just beginning to change your family tree. But you can see where you're going to leave a lasting legacy. Christmas, don't have to give your loved ones just more stuff i need some more plastic stuff that's what i need from tarjay i don't think so i would rather have a little hope a lot of people need some hope they need a plan that'll give them hope where they can see a light at the end the tunnel that's not an oncoming train maybe a gift of a financial peace university membership would be a great idea on Ramsey Plus. Yeah.

They'll earn the proven plan to get out of debt, save money, become wealthy, just like you did, and outrageously generous like you are. And now Financial Peace University, of course, is a Ramsey Plus membership item, and so you can jump in there and take care of that. Just go to RamseySolutions.com slash FPU, RamseySolutions.com slash FPU. Our question of the day comes from Blinds.com. Find out for yourself why Blinds.com is the number one online retailer of custom window coverings. You get free samples, free shipping on new promos they run all the time.

You're going to save even more. Use the promo code, the magic word, Ramsey, to get the best deal. Today's question comes from Eric in Rhode Island. I'm 28 years old, and I've been living with my parents since the pandemic began. During this time, I've paid off over $50,000 in student loans and a car loan. However, I still have approximately $73,000 left in student loans to pay off. I make a little over $65,000 a year at my civilian employer and serve part-time in the National Guard, usually bringing home $15,000 a year. I'm afraid of moving out of my parents' place for two reasons.

One, I don't know how I will pay off my debt in a timely manner. And two, I fear the only places I can afford will be undesirable locations. Do you have any advice you could offer me? Yes, we do have advice that we can offer you. So you're 28 years old, you're making $80,000 a year, and you've got $73,000 left in student loans. And you've already been paying on them. You paid off over $50,000. So you absolutely can pay off this debt in a timely manner. The fear of living in an undesirable location, well, you can quelch that by getting a roommate. And undesirable, I can handle undesirable if it

means long-term gain, if it means I can get out of debt faster. Now, if you're talking about unsafe, that's a different story. But if it's just somewhere you wouldn't want to live for a long time, that's okay. You're not going to live there a long time. So you're going to live on nothing. And if that means getting a roommate or staying at your parents' place, I'm okay with that. I mean, you can easily get out. You make $80,000 a year. There's no reason you need to live in their basement any longer. But you can pay this thing off in 18 months, two years max making what you make. So there's not really any excuses here other than decision paralysis. Eric, let's pretend that you're we're going to fast

forward way up into your life and you have a daughter that is 24 years old and when you think of your daughter you smile she's your little princess you've raised her she's smart she's self-sufficient does she want to date you when you live in your mother's basement? Do you want her dating you if you're her dad? Answer's no. So go get you a place, dude. You're 28 freaking years old, and you'll get out of debt. You'll figure it out. People make an $80,000, pay off $73,000 all the time,

and they don't live with their parents. It works all the time. And you need to do that. It's going to be so good for you, and it's going to be good for your mom. It's time. She's ready for you to leave. Or your dad is. Or both of them are.

They may be really ready for you to leave. I don't know. But I don't know. I don't know. There's a developmental thing here that is really good for you to leave. I don't know. But I don't know. I don't know. It's just there's a developmental thing here that is really good for you. And so, yes, it's going to slow down mathematically your ability to get out of debt as fast. Whoop-de-doop-dee. And, yes, making $80,000 a year, you can find a place in Rhode Island to stay.

I think you're going to be okay. You're going to make it. But you need to get out, dude. So George, the producer, James, just handed us an article. It's juicy. It's a juicy one. Well, okay, this pisses me off, all right, because the Consumer Financial Protection Bureau, brought to you by Elizabeth Warren, that's where it came from, was put in place to protect the consumer. They were put in charge of a piece of legislation that's been in place for 30 or 40 years called the Federal Fair Debt Collection Practices Act. There's federal law that dictates how collectors have to behave or they're in violation of

federal law when they're trying to collect from you. The Consumer Financial Protection Bureau is in charge of the Federal Fair Debt Collection Practices Act regulations and fines and, you know, basically protecting the consumer. So what did they do under this administration? Decided to help out the collectors instead of the consumer. So they just, new rules approved by the Consumer Financial Protection Bureau that took effect, this is from NPR. That took effect on Tuesday. Dictate how collection agencies can email or text people

as well as message them on social media to collect unpaid debts. So now they can hassle you on Twitter, your Facebook account, text you, and email you. What part of protection at the Bureau did they not get? They just unleashed the hounds on the Internet. Consumer Financial Protection Bureau. You need to read the title of the place you work. Good God. I thought it was bad enough when my mom joined Facebook,

and now the collectors are on there too. The whole gang. You can't stop. Everyone's on there, too. The whole gang. You can't stop everyone. Everyone's watching you, George. You know, a way to fix this is don't be on Facebook. Good luck. Well, it's easier now. Everyone's going, you know, they're on Instagram, TikTok.

You have to have something like I got where I pay people to do this stuff because I can't stand it. But this is what's crazy. It says they can attempt to join your network by sending you a friend request, and they must give you the option to opt out of being contacted online, and any messages they send do have to be private. So they're not going to go posting on your public page, Dave. Don't worry. Disappointing and concerning in a number of ways, says April Newhoff, a staff attorney for the National Consumer Law Center. Hello, April. That's an understatement. Yeah, disappointing? No, this is just ridiculous. This is what we in the South call, we just let the fox in the hen house.

That's a good saying. I like that one. Here's what's crazy. Chomp, chomp. We are going to see so much spam come out of this. It says, allowing debt collectors to email, text, and use social media to contact consumers also gives criminals a new avenue to try to swindle people out of their money, a practice Knewhoff expects to increase in the future. I get a bunch of crap on my Apple phone updates that I don't want,

and they force it on me, and I have to go in and turn it off or turn it on and so that people aren't watching me all this other bullcrap that all these things they do with this technology i'm getting just paranoid but they're gonna have to put a thing on the apple phone oh yeah block collector text select on or off and that maybe you know there you go that'll work so um i did just somebody just show me that damn i'm so technology stupid you're gonna look at me because you know i'm stupid but um yeah you can turn off uh not the phone doesn't ring if it's an unrecognized number because the 73 000 calls i get a year on my warranty for my car that i need to buy which is hilarious you're calling

dave ramsey's phone. I mean, come on. But, yeah, I mean, all those are blocked now, and so automatically it doesn't ring my phone. It's like, we're going to have to have that selection for collectors. Apple's going to have to protect us because the Protection Bureau won't protect us. Oh, boy. And you know the weird thing about sliding into the DMs here on your Instagram account,

if the only people sliding into the DMs are the collectors, that's a sad life. We've got to pay off this debt. Get rid of it. Leave them on read. You can't ghost these people. They're going to be after you. That sums it up.

Wow. The Consumer Financial Protection Bureau. Can't even live up to its title. Oxymoron. This is the Ramsey Show. We'll be right back. George Campbell, Ramsey personnel. He is my co-host today. Welcome to the Ramsey Show in the lobby of Ramsey Solutions on the debt-free stage. Travis and Betsy are with us. Hey guys, how are you? Great. Good, how are you?

Very cool. Where do y'all live? Montbellevue, Texas, near Houston. Very cool. Well, I mean, we have folks wear a lot of t-shirts on the show and to do their debt-free screams and so forth, but it might be fairly easy to guess that you're here to do a debt-free scream because you have a paid-for house. Whoop. Whoops. Those shirts gave it away. You're weirdos, huh? Yes.

Wow, I love it. Very cool. Well, they're great shirts, by the way. It's got a house with paid stamped across it. Very simple. I understood it immediately. For those of you that are looking deeply in your radio and can't see what i'm talking about but yeah very cool so how much have you paid off 144 000 very cool how long did this take three and a half years good for you and

your range of income during that time 150 to 170 very good and what do y'all do for a living so i'm a chemical engineer and i was a school counselor turned stay-at-home mom. Ah, very good. Very, very good. So $144,000. What's this house worth? $375,000 conservatively. Awesome.

Very cool. Very cool. How much y'all got in retirement? $950,000 or so. Baby Steps Millionaires. Look at that. There they are. Look at them.

Look at you guys. You're double weirdos. I love you. Way to that. There they are. Look at them. Look at you guys. You're double weirdos. I love you. Way to go. How old are you, millionaires? I'm 37. 36. Woo-hoo!

Touchdown! This is incredible. Start the wave right here. Ready to go? Ready to go, George? There we go. All right, there we go. I did it.

Woo-hoo! Very good. I love it, guys. Congratulations. Okay, so the last three and a half years you've been working on the house. Tell us the whole story about your journey and how you got Ramsey-fied. So our journey with Ramsey really started back 14 years ago when I graduated college. So I'd always been told to invest in retirement once I got a job, but I didn't know how to do it. So I looked for books, found Total Money Makeover, and from there, I just did the investing advice.

Uh-oh. So Dave Ramsey's investing advice, money of a millionaire. Uh-oh. Unfortunately, yes. I didn't think that was legal. Yeah, I thought he was a boomer. I thought you were a fraud, Dave. I'm a grifter. That's a great name, too. A grifter. Strong.

Just strong. It's amazing how this works. Way to go, you guys. Did you guys have debt, like consumer debt? So the rest of the story is, so fast forward 10 years. So our church started a financial peace momentum campaign back in 2017. And so they started advertising that i i saw that as a way remembering uh total money makeover i saw that a way of getting us on the same page

because i had been doing most of the financial stuff for our household and i just wanted to set us up for a better future so we got we started on it in january 2018 and just it's been off to the races ever since. All right. So, Betsy, he says we're going to this financial class at church, and you said, what? We're a good team, so there was no convincing. Okay. We just went and learned.

Okay. Sure, I'll go. Sure, I'll go. Well, you're sweet. She works well with me. Okay. And so you went to the class, and what did you think? Did you think it was going to be boring or crazy or what was your preconceived notion and then what was it really

like well i should have known when i met travis he was reading the total money makeover so it wasn't it dave is not a you're not a new concept to me um it was pretty much what I thought. Okay. It was good to learn together, to do the class together. Okay. Cool. Cool. And it sets it up. And during this process, you made the decision to come home and be a full-time loan? When I had Spence, who's six.

Okay. Perfect. Very good. About a year or so before. Okay. Very good. Way to go, you guys. Wow.

Wow. How does it feel to be 100% debt-free and have a net worth over a million dollars? It's a bit surreal. I don't know that we've been debt-free for a couple of months now, and this is our first vacation to Tennessee, so this is a big vacation for us just enjoying being debt-free and enjoying family time. That's what we wanted to do.

What's your big thing you want to do now that you're out? Travel. Yeah, travel. I mean, that's our why, trying to create memories with our young kids, so traveling all kinds of fun places, getting them to experience all kinds of different things in life. That's very cool. That's worth it, yeah.

We've had some wonderful trips. Ramsey spends some money on experience man i'll tell you we do we'll do it more than we will anything else and so um really that's a good that's a good spend for the dollar way to go guys very very cool all right you've been doing this a long time you got this thing dialed in both of you've been through financial peace university you've hit you've touched every base baby steps seven baby steps millionaires people ask how did you do that what do you tell them the key to getting here is I would say that the key is just to live be okay with living below your means people have boats huge pools and cars and

car payments and all kind of stuff that they have to pay for and um just we don't go out to eat that much and we have a garden and we eat out of our garden and um we've just lived below our means and made a plan and stuck to it yeah i mean for me i'm the nerd so the every dollar app was uh really key when we started it in 2018 it made uh budgeting fun you know it seems seems kind of weird but that was uh what did it for me yeah that's a big deal an engineer who likes budgeting go figure who would have thunk it that's incredible he would project the every dollar app on the tv and i told him because I've listened to many hours of the show I've got 17 minutes 17 minutes

so he took over the Netflix watching and he said nope we're streaming the budget baby nothing says romance like a budget streaming to the TV that's fun way to go this is great yeah fun fun fun fun who are your biggest cheerleaders outside the two

of you? So our parents are very helpful in this, just cheering us on. And they came along with you? Yeah, yeah. That's Betsy's parents. Okay. All right. You raised millionaires.

That's pretty cool. Not bad. Kids that turn out. That's incredible. This is good. I like kids that turn out. Yeah. Every parent's dream. This is awesome. Do the kids have t-shirts on too that match yes uh different slightly different

t-shirts let's get them up here what are their names and ages uh so you got spence he's six and hattie she's four okay uh keep uh keep hensley's weird and we own it hashtag we own it she already knows what a hashtag is. I'm very impressed with this generation. That's very good. Of course she does. She can fix your iPhone, George. I'm just saying.

All right. Way to go, you guys. Hey, we got an advanced copy of Baby Steps Millionaires for you to celebrate the fact that you is. Way to go. It comes out January the 11th, but we're going to give you a copy today and a copy of the Total Money Makeover as well. And you'll have that to give away. So very, very cool stuff. All right.

It's Travis, Betsy, Spence, and Hattie from Houston, Texas. $144,000 paid off in three and a half years. House and everything with their retirement. Baby Steps Millionaires making $150,000 to $170 to 170 in their 30s count it down let's hear a debt-free scream three two one we're debt-free yeah there it is touchdown oh man get on financial peace university get on the same page push through do the baby steps i mean this stuff i it's getting boring in the best way so it's just so predictable yeah and this is not a plug for your book baby steps millionaires but it's amazing

how many people just follow the plan and they go oh my gosh we're millionaires and it's almost like accidental but it's not accidental because they here's the thing we find it follow the plan and they go, oh my gosh, we're millionaires. And it's almost like accidental, but it's not accidental because here's the thing. We find it all the time and their numbers matched it too. With the study we did that we first revealed in Chris Hogan's book, Everyday Millionaires, and we put the whole study in the back of the Baby Steps Millionaires, just for you to read, by the way. It's the largest study a millionaire has ever done. We find typically the paid four houses, about a third of the net worth and the other two thirds

is their big retirement plan. And they put money in mutual funds. And it's just not rocket science, people. Is a millionaire a billionaire? Nope. A lot of difference. Billions, a thousand million. A lot of difference.

But a million, it's more than most people got. And you can do it. And it's doable. And you can do it. And it's doable. And you can retire with dignity and you can travel and change your family tree and pretty stinking cool. This is The Ramsey Show. We'll be right back. George Campbell Ramsey personality is my co-host today. Open phones at 888-825-5225. John is with us in Boise, Idaho.

Hi, John. Welcome to the Ramsey Show. Thank you, sir, for having me on. Sure. What's up? So my question is, I'm working right now, but I'm also in flight school, trying to cash flow, going through helicopter flight school. Good for you. And anyways, my question is, at what point with working a job, when the job gets so dysfunctional amongst your coworkers, is it right to just quit and try to find another job? Because I work in direct sales.

I work for a roofing company. I'm good at my job. My bosses appreciate what I do, but trying to, all I do is set up, uh, uh, inspections for, uh, project managers to get on a wind damaged roofs for folks. So, you know, we do free inspections and, uh, the goal is, you know, if we can help them out with, uh, the roof, you get, see if we can get the roof paid for through insurance, if they have, you know, enough wind damage on the roof. Anyways, all I do is drive around and talk to folks.

And it's getting really, my bosses are great, my coworkers are not. And I'm just trying to figure out how to balance, I guess, flight school and getting in a different job possibly. How old are you? 23. And you said you're on the road talking with clients most of the time. How much interaction do you have with these coworkers? It depends on the day.

So we have a daily sales meeting, and then a lot of texts, a lot of phone calls. Sometimes you see them during the day. I have the option to ride with him, like drive with one project manager and just roll around with him through the day, or I can just drive around myself talking to different customers. So I've chosen for most of my job to just drive around myself because I think it's a better use of time. You can talk to more people that way than having two guys running around in one vehicle.

How long have you been doing this? In this job, I just started in September. I've been doing sales for a couple of years. What do you make? So, wait a minute. Stop a second. Okay. All right.

Well, go ahead. What do you make? That's good. What do you make? Right now, I make 100% commission base. I make uh right now i make uh it's 100 commission days uh i make about 23 to 25 25 hundred dollars a month okay all right well number one there's nothing nothing wrong with looking for another job and getting a different job okay yeah however there may be something here for you to learn maybe a opportunity. And sometimes in our 20s,

God puts us in a place where we're learning. And it could be that you learn to interact with your supervisors and explain to them, your leaders, which you seem to like, after four whole months, or three whole months. And, you know, maybe there's some

behaviors that they can work on for you, meaning these people need to learn to behave. What are they doing that's so toxic? Well, the biggest thing is I would say I set an appointment. I set a time, say like 2 o'clock for an inspection. And consistently, my project managers either can't make it, cancel it, reschedule, and they end up losing the job because of it. And that happens very, very often.

Well, that's a broken business model. That's not bad people. There's something else going on. They're either lazy, they shouldn't be doing the job, or they've got the system set up to where you should have set hours that you can book somebody, and then they show up. The company's losing money because of this, not just you. Well, yeah, I would agree. So your frustration is not what I would take to your leader.

I would take to your leader that the customer is frustrated and we're losing sales i think we're losing you know half of the sales that we shouldn't be losing we should be doubling our sales if they just showed up on time so what we need boss is a system that that uh when i book an appointment that the guy actually shows now how can we put that together i'd be happy to help show me what to do and it might be you can help them solve this problem. Yeah, that could be an option. I've talked to my bosses about it. My bosses, like I said, my bosses are awesome.

I have no gripe against them. They're not awesome. They're watching this stupid thing happen right in front of them. Gotcha. I'm awesome. I would have kicked somebody's butt by now and fixed this. That's called owning and running a company, okay? So, you know, I mean, they may be nice guys,

but this is inefficient, frustrating for you, frustrating for the customer, because either you are booking times you shouldn't be booking because you don't have a blocked out time for your people to go in or something else is going on. If you want to go to flight school, that's fine. If you want to change jobs, that's fine. But, dude, you've been there for three months and you are 23. So, you know, take a chill pill and work on this a little bit and see if you can't help them fix it.

If you can't help him fix it, eject. But if every time you have a little bit of a rough spot, you eject, all you're going to do is be in the air from ejecting all the time. You're just going to be flying all the time. He isn't going to flight school. Da-ba-ba-da-bum. Yeah, there we go. Right into the helicopter. Got him.

But, yeah. And besides that, there are a few helicopter jobs that make good money, but not tons of them. It sounds like he doesn't want to be in sales long term, but right now he needs to focus on getting enough income so that he can save up and pay cash for flight school. And he's not making great money. It's 100% commission. He's bringing in $2,300 a month. $30,000 a year.

There's better sales jobs out there, 100% commission, if he can do sales. Well, if they close double what he'd been closing, he'd be making $60, making 60 so he's losing half the sales to this stupid system so i don't know but uh um you know yes you should look for a job if you can't get this fixed and um yes you should cash flow flight school and it's going to take you some time and yes you need to consider what you are paying to become a helicopter pilot versus what that job pays because it's not big money in most cases um you know private jet pilot makes good money uh helicopter pilot not so much there's a few cases they do a few situations they do but most of those are probably taken by somebody with a lot of experience and you know

you're running a copter in in you know a different situation but it's an okay career to get into and but it's got a long climb no pun intended open phones at 888-825-5225 maggie is in san diego hi maggie welcome to the Ramsey Show. Hi. Thank you for taking my call. Sure. What's up? So basically, I own a house. I moved in with my aunt to help take care of her in the later months of her life.

And she's put my name on the trust for her house. So my question is, should I sell my house? Because I'm in California and the housing market is white hot and I can make a lot of money on the equity and pay off her house? Or should I just really focus on paying off her house while I rent out my house and let the renters pay that off for me? What is her life expectancy? I would say no more than a year she's on hospice so um it's not that much longer but yeah i wouldn't pay off anybody's house that was not in my name so when she passes yes you can pay off your house her what becomes your house at that point um and it's left to you in a trust via a will correct um it's as far as i

know it's just a simple trust i don't think it was a full-on will because we just started doing it when i moved in with her let me help you with a piece of real estate this expensive as far as i know doesn't cut it okay you got to get in there no and you need to sit down with an attorney and verify that this thing is going to you and exactly the vehicle has been put in place to exactly execute that because this is coming at you really fast and um you know if you guys half butt did this paperwork you got a real problem so you need to fix that now while she's alive and able to do it and so get in there and really know the details of exactly how this property is going to transfer to you if you want to go and sell your house now that's fine just put the money in the bank and

and then when she passes you pay off the new house that becomes your house was her house because you did this paperwork perfectly with great detail and great diligence. Otherwise, you'll become one of those nightmare stories that calls me here, and don't do that. Good hour, George. Good times. Well done. Well done. Good job, Ben and Kelly in the booth.

I am Dave Ramsey, your host. We'll be back. This is James Childs, producer of The Ramsey Show. Did you know The Ramsey Show is one of the most popular podcasts in the world? Subscribe or follow today wherever you listen to podcasts. I'll see you next time.