The Ramsey Show - App - When “Passive Income” Isn’t So Passive (Hour 1)

Episode Date: May 20, 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. The phone number here is 888-825-5225. Number one best-selling author and host of The Dr. John Deloney Show. Ramsey Personality Dr. John Deloney is my co-host today as we answer your questions about your life and about your money. Thank you for joining us. Anthony is with us in Canada to start this hour. Hi, Anthony, how are you? I'm good. How are you doing? Better than I deserve. What's up?

Hey, I got a question. So I have, I sold my rental properties as a bit of a, I was under the belief that it was a passive income, and it really wasn't. So we got out of it, got out of it at the right time, I think. You mean you had to actively manage the rental property? Yeah. You mean the tenants don't just do what they're supposed to do all the time? I'm shocked. No, they were calling me, and I was like, oh. Yeah, and they wanted, like, repairs done and stuff. Anthony, I just have to disagree with you. I've watched plenty of TikTok videos. I think you're out of line here. That was sarcasm, Anthony.

Passive income on sarcasm. I'm glad you realized it. So you sold it, Anthony. I'm sorry. And go ahead. I also watched those TikTok videos, which got me into it. That's our point. Yeah.

Okay. So I have, um, I, I have $240,000, um, coming in and, uh, I have fully stocked emergency fund. Uh, we're giving money. We have our, um, uh, like, uh, our, we call RESP for my kids' education. Uh, we're, We have no debt other than our mortgage, which we have $140,000 left. But we have... We've been paying off... This year, we paid off $60,000. I think next year, we could probably pay off $50,000, $60,000. We're on track to pay it off.

But I could just pay it off tomorrow. Good. Do it. Do it. try to pay it off but i could just pay it off tomorrow good and do it in the interesting do it but like okay so you're so focused right now i know what what are you what are you gonna do with the money if you don't uh invest it okay so it's like borrowing 140 000 on your house it's paid for to invest money uh if you had a paid for house would you borrow 140 on it to go invest it no same thing uh yeah i just i keep looking at like since we are so focused on the um if you're focused pay it off retirement yeah pay it off. Yeah. Pay it off. So in 30 years, I keep doing like the compound interest calculator,

and it'll be a difference of like a million bucks. Yeah. Yeah. Is that on TikTok too? Yeah. Your compound interest calculator never met a millionaire. Because let me tell you how it works in the real world, okay? okay in the real world as we studied the largest study of millionaires ever done 10 167 of them none of them precisely zero said we became wealthy by borrowing on our home to invest and compound interest calculator zero zero zero not one the same number of millionaires

that said they got rich with airline miles using their credit card zero not one the same number that said they got rich using whole life life insurance zero not one we couldn't find one anywhere that did that so that's the data that i'm using and so you i mean it's not even statistically significant it's zero it's not like oh it's 56 so some did and some did it zero. None did what you're talking about doing. And so, yes, your compound interest calculator is there, but what it's leaving out is risk, and what it's leaving out is the way you walk when you walk into work and you don't have a house payment.

Your voice changes one octave when you don't have a house payment. It's called peace and you will make different career decisions when you don't have any debt and you have different relationship issues when you don't have any debt none of these are quantifiable in your calculator because the borrower is slave to the lender think Think about all the implications of slavery. Only one implication of slavery is mathematical. All the rest are spiritual, physical, relational. Psychological, emotional. Breaking of the spirit.

Think about that. And hold on. I wonder if, Dave, I wonder if he has created this new identity that he's a go-getter and he just can't picture himself. Some people create chaos because they don't know how to exist when it's peaceful. No. You have to learn. I think he's honestly analyzing it like he did when he bought the passive income. Okay.

He's just wrong. He's just wrong, like he was with the passive income. It's okay. Yeah. That's how I've learned a lot of stuff when I was wrong. Sometimes I'm wrong, but not as much lately. James, will you clip that real quick? I used to be wrong a lot more, but I'm not wrong as much anymore.

Because when I was wrong, it hurt, and I quit doing that wrong stuff. You know, I mean, it's like that. And for those of you listening, Anthony was making fun of it, and we were too, in case you're missing the point on this. Anyone that tells you that real estate – and I own, I don't know, $600 million, $700 million worth of real estate. Anybody that tells you real estate is passive income is absolutely full of crap. There is nothing passive about owning real estate. If you want passive income, buy an S&P 500 index fund and set it

and forget it. And you'll get checking, you know, the emails will come in and show you what you made. As a matter of fact, in the last 12 months, you would have made about 25%, which would have been a good run for you. It's been a nice run in the last 12 months, but that's not normal. But I mean, you didn't have to do squat you you didn't have to fix a leaky roof you didn't have to collect from somebody who lied you didn't have to analyze if the next guy moving in was lying you didn't have to do anything you just set it and forget it that's passive real estate is not there's no you can't have you can't even have i have a blank piece of ground a piece of dirt the neighbor texts in here last week and said those storms that came through some of your

trees fell on my lot and knocked over my fence i can't even have a piece of dirt that has no buildings that's passive even that is active you know there's just anything having you know so we got to send a guy over there with chainsaws because it's our responsibilities our stupid tree tore up his nice fence and so i bought a fence and some trees and so dead dead even that you know you can't yeah you can't even make that up yeah it's just you know there's no way you can get to passive in real estate. It's great investing, but it's anything but passive. I own a bunch of it. I believe in real estate.

Where does that story come from? I hear it everywhere. It's the same. It's the natural extension of the bull crap line that the renters are going to pay your payment. It's okay to borrow money because the renter will pay your payment. I'm going to let the renter pay it off for me. Note, it pay your payment. I'm going to let the renter pay it off for me. Note, it's your payment. And when the renter doesn't pay because he got put in jail for hitting his wife.

Oh, that's happened. Yeah, because he's not working now because he's doing 1129. That'd be sitting in the the local jail yeah guess what he doesn't pay guess what you gotta pay it anyway so that's when you find out it's your payment not the renter's payment it's not passive boys and girls it's good investment but it's not passive this is the ramsey show dr john deloney ramsey personality is my co-host today thank you for being with us America well um apparently enough of you people made enough noise out there that the folks here at Ramsey have officially lost their minds because I am now in the t-shirt business I'm wearing one

so look at this look at this yeah we have food at home we have food at home we have better than i deserve t-shirts and yetis and hats we have live like no one else tumblers in case you want to tumble um if you carry that around you will tumble over it's so big and some people carry around like i'm just And the sweatshirts that say they're debt-free. The debt-free sweatshirts are very cool. And the material is all this super soft, nice, expensive, whatever, T-shirt material. It's not like your cheesy T-shirt at the booth in the flea market thing. You know, this is like the good stuff.

So there it is. You got a story. You got to want a better better than i deserve hat and uh yeah maybe the worst uh pitch sales job that has ever been done i would like america if you have recently bought a shirt in a flea market and you are not happy with your purchase right into the show we'd love to hear from you we holler right now and we'll get you a better than i deserve replacement and yeah i just if you got 20 bucks i would rather you buy like john's book because that'll change your life right there you have it or you bought my book and that'll change your life right but if you if you got money and you you want to say that you're debt free and uh better than you

deserve and you got food at home and that kind of stuff we got shirts that'll help you do that and all at ramsey solutions.com store and um you can wear it while you're doing your side hustle to get out of debt it just had yeah and you know what and you could do like door dashing where i've got food at home that's that's that would be that would be oxymoronic there you go yeah that would be screwed up yeah probably cost you if you wear a better than i deserve, now, I will tell you this. In the old days on the show, back when it was just talk radio, we had a bazillion people delivering pizzas.

This was before DoorDash and all that stuff was there. And we'd say, go get a job delivering pizzas. It's a great job. You can make $1,500 a month working four or five nights a week. And you still can, by the way, delivering pizzas. But we had the whole Ramsey tribe out there trained to say, month working four or five nights a week and you still can by the way delivering pizzas and um but we had the whole ramsey tribe out there trained to say if the pizza guy or gal says how you doing better than i deserve that means they're working that side hustle to get out of debt you have to

double their tip oh i like that it was like code it was tribal code let's bring that back i like that okay if they're wearing a better than i deserve hat if they're wearing the clothes you have to triple the tip if they just say better than i deserve you got to double it there you go i like that there you go because you got to pay for their t-shirt that's it that's i like it now we got shouldn't be buying a here we go all right i'm wearing the shirt and it's comfortable that's all you need to know it is comfortable it's very they're very comfortable i can't wear them because that's like really weird that'd be like wearing a shirt that says my name is dave and i'm great or something i mean if i wear a shirt with my own sayings on it that's like you wear that shirt that's really

horrible i just couldn't i just can't people go oh you're you're wearing your oh that's weird yeah so and i really wouldn't blame them that would be accurate isabella is in san diego hi isabella how are you hi how are you? Hi, I'm doing good. How are you guys? Better than we deserve. What's up? I was just wondering, my question essentially is how do I, I'm just looking to see how I can use my extra income

and set myself up for the best financial future I can. I'm 22. I just graduated college last week with a public health degree, so I'm really excited about that. And I rent here in San Diego, and as you know, it's super expensive. Did you get your big girl public health job? Not just yet. I currently serve on the weekends to help get extra money,

and then I'm working with the city, but it's still a minimum wage, you know, 35 hours. So where's the part where I'm excited about the degree? I don't know. Hopefully using it in the future. I mean, it's the excited part of the degree that it does pay well, but it usually requires a master's. So I'm hoping I could pay for that. I have no debt.

I paid, my mom helped me through college. Good for you. And I paid half of it too. Good for you. Thank you. I would go get a job in the next six weeks in your field that will pay for your master's as a part of their benefits package.

Okay. And I was wondering, would I still keep the serving job just to help with the extra income? Because I have the goal of retiring on my 401K. I currently have three grand in that right now, but I'm just, I guess a little bit. You have zero debt? Zero debt. Okay. How much money do you have in savings?

$4,000 in cash and $4,000 in a savings account. Okay. All right. I want you to build an emergency fund of three to six months of expenses, in your case $10,000 or $15,000, that you don't touch for anything but emergencies. And then let's work on the career side of this equation where you're not making minimum wage and serving because that's not a plan when you're 30. Agreed?

Agreed. Yeah, the 30-year-old you needs the 22-year-old you to have a plan. And you've got the cart way before the horse right now. You've got to get a job. Yeah. You've got to get your income and then get settled into that 401k rhythm is a great thing to do and then start saving above your emergency fund for your first home purchase and you'll be well on your way to wealth building but it's going to be dependent upon your income and if you think the field that you're in is going to require a

master's go get one but let somebody else pay for it right they do all the time you say that you say that like you don't believe me they believe me in your world they do it all the time i just i get a little nervous because i feel like with the master's like if i my mom really wants me to do it now she's like we could budget for it it's okay it's a small load but i don't know or just go get go get a job at the university why don't just go get a job at the university. Why don't you go get a job and let them pay for it now? I'm not suggesting waiting 10 years. I'm suggesting doing that in the next five or six weeks. I guess I never really looked into that.

Yeah, that's what you need to do, kiddo. And you can get one in your field, but you can also go get a job at a local university, and they'll have some sort of tuition reimbursement program, and then get yourself a master's there. And they'll get an employee that they get to keep for two to three years, and you'll get your master's degree paid off. It's a great way to win for everybody. And it doesn't need to be a big, fancy school. No.

I mean, the cheapest possible school in your area that would hire you to mop the floors and give all their employees free tuition or hire you to be a graduate assistant. Or a resident hall director. You get your housing taken care of too. And all this is going to come at a cost, but you end up with a master's degree in a public service field and you don't owe anybody any money.

Then you can actually do real service without wondering where you're going to sleep. And you can start on it next week without having to budget out of your mom's stuff to pull it off. You need to be thinking about your career that way rather than i can't do my career until i get a master's instead integrate the getting of the master's into your career moves that's what we're saying and it really can be done kiddo i know i can tell from the way you your voice tone was that you didn't think it can be done but believe me john's got a phd in higher ed i did it yeah oh you did it i did that oh yeah there's that one of the phds i worked at a university uh for my master's degree i haven't paid for no i paid for the second one but my master's degree i worked at a university and

they helped and then my the phd yeah it was largely taken care of with tuition reimbursement program at the university where i work so that's a pretty standard thing and that actually happens by the way boys and girls out there um uh in medical school too there's md phd programs that they're they're very hard to get in but if you can duke has several for example where you again work on campus you're a t you're a ta or a ga and um um you know you're working grading papers and other stuff while you're doing your work. And, oh, you're not supposed to have a set list, and they'll do it. They'll do it. And they do it all the time while you work on this stuff.

And that's the way a lot of people get postgraduate stuff paid for. It's excellent for undergrad, but not very many undergrads qualify for the actual work. Or if you have an associate's in nursing, your hospital may pay for you to get your bachelor's or help you get your… Your RN. Yeah, whatever you need. So it never hurts to ask that question or to really scour the earth. And you might have to move. You might have to work at a different school or work at a different hospital, whatever.

But always ask that question. And you're thinking about the five year from now you. The alternative is wait tables and work minimum wage. And you and your mom scratch together enough nickels out of the corner of the couch to go get your master's and then start your life. I don't like that alternative. This is The Ramsey Show. Dr. John Deloney, Ramsey personality, is my co-host today. Come by and visit us anytime you'd like here at Ramsey. We're about 12 miles south of downtown Nashville in a wonderful town called Franklin, Tennessee. And the lobby is open to the public. We do this show on the glass from 1 to 4 central time monday through friday the homemade cookies

and the coffee are on us and so the place smells like mama's kitchen when you walk in not corporate america and so come in and hang out with us we'd love to have you and in the middle of that lobby is an official thing called the debt-free stage and it's where people do their debt-free screams gregory and emily are on it which can only mean one thing that they're here to do a debt-free scream where do you guys live tampa florida welcome good to have you welcome to nashville and how much debt have you paid off 225 000 in the last two years oh love it and your range of income during that two years was around 220 to 250 cool what do y'all do for a living i'm a project manager real estate development and i'm i'm a nurse very good great careers well done

fabulous income 225 000 bucks you get after it man your ratios you guys were on beans and rice that's pretty serious what was the 225 what'd you pay off the house oh i'm looking at weirdos paid for house love it way to go you guys way to go excellent so what in the world what's this house worth probably around 550 very cool and how much in your retirement accounts and nest egg just uh under 600 oh so i'm looking at baby steps millionaires too how old are you weirdos i just turned 43 wow i'm 40 all right and you're a millionaire and you don't have a house payment nothing that's what i mean by weird that's weird very weird so strange i love it so what happened why'd you decide to pay the house off well our story began in 2007 when i was traveling a lot for work

listening to the radio hearing ramsey and uh and then 2010 i got the book and i'm like we got to read this book i've been listening to this guy for for years now and emily read the book and then she's like we got to sell the car oh and way Way to go, Emily. I was like, I'm not selling my car. Sorry I made you read the book. And then six months later, I read the book, and she overheard me talking to my mom saying, we're selling the car. And she's like, what do you mean we're selling the car? That was my idea six months ago.

She's right. It was her idea. I like it. So that started the whole process right and we got we had about a hundred thousand in debt that we paid off within two years back then and we've been working the steps over the last 13 years and the last two years we we knocked out the house yeah that's about the typical timeline although y'all are a little younger than normal but typically it takes people somewhere around 10 years to do the whole plan and that's debt-free then build your emergency

fund then be putting 15 away then pay on the house extra and then knocked out the house really fast you leaned into the house though this is these numbers are not you sacrifice to do this quick and the kids college fund they're set so i mean we got this is generational wow way to go y'all what sparked this in you the last two years to pay your house off we were we've been on the plan and we said we just need to focus and uh focused intensity and times god equals momentum and we just made it happen i love it very cool Very cool. Well, congratulations, you two. Thank you. How's it feel to not have a payment in the world?

I mean, millionaires are 40. Pretty amazing. It's crazy. I mean, you did this. I mean, everybody knows there's too much inflation. Everybody knows the stock market's crazy. Everybody knows, everybody knows, everybody knows it can't be done.

But you did it. I'm so impressed. Well done. You swam upstream in a culture full of toxic negativity. That's right. Way to go, you guys. What's it like going to work with your fellow nurses who are still paying back their school loans 25 years after taking them out? It's crazy.

Yeah. You got to get them to sell the car. All right. So what's the biggest fight y'all got in over the last decade as y'all were navigating this? So when we first started, we were always going out to eat. And then she's like, well, we can't go out to eat because there's no more money. I'm like, what do you mean there's no more money? This was before we started the plan.

And that's when we were like, we're fighting over money. We need to get serious. And I think it was over food, honestly. Over you wanting to go out to eat. That's what it was. Yeah, that's what it was. Let's get right down to it. The guy whose idea it was to sell the car after his wife had the idea.

That's the most typical husband thing. It really is. You guys are so fun. Way to go. I'm proud of you. Thank you. Who was cheering you on our kids our kids our parents family so you had some good support then anybody call you crazy everybody everybody we all those broke people yeah if broke people are making fun of your financial plan boys and girls you, you are on track. So just tell you how that works.

Way to go, y'all. Way to go. If you are sitting down at a table with a couple who's just turned 33 and 30, and they're starting to fight about dinners, they're starting to fight about stress, they're starting to fight about what soccer league little Timmy's going to play in, what would you tell them? I would ask them if they think there's a problem because if they don't think there's a problem then there's no problem i think

that's been a lot for us when we've been talking to people over the years um you gotta if they don't think there's a problem and that they just want to live in that cycle on the hamster wheel then then they're never going to be able to change so i think it's a hard issue maybe and if they look at you and say yeah we're ready to change can you help what would you tell them what's the most important thing that they could do get on a budget live act your wage there you go live on less than you make a concept congress can't grasp way to go you guys wow very impressive very impressive very impressive cool cool cool so the book that was the whole thing total money makeover book and just listen to the radio that's right yeah we we just started doing the envelopes

and uh paying everything with cash and what else do we do that's pretty simple it's just pretty simple i mean there's nothing complicated here is there i think that's the biggest problem with it is it's too simple people that are way too smart think that it's too there must be a uh you know must be a shortcut shortcut therecut. There's no shortcut. Yeah. No shortcut to any place that's worth going, Beverly Sills said. Way to go. Good job, guys. All right. Hey, we've got a couple of years of every dollar subscription for you.

Pay for your every dollar budgeting, since budgeting is a big deal to you all. And you can either use them or pass them around to get somebody else started, however you want to do. Our gift for you to say thank you for coming all the way from Tampa, Florida, to do your debt-free scream. Gregory and Emily, Tampa, Florida. Ten years later, the last two years, they paid off $225,000, net worth approaching $1.5 million at 40 years old, following the baby steps. There it is, ladies and gentlemen it's not

any harder it's not any easier than that it's harder than doing it the other way but it's easier than doing it the other way you guys count it down let's hear a debt-free scream three two one glory to god we're debt free! Yeah! Woo-hoo-hoo-hoo! That's how it's done, ladies and gentlemen. That's how they do it in Tampa, Florida. I'm going to put a note down. There's got to be a psychological construct,

and maybe some of my fellow nerds can write in the show, leave a comment, but there has to be some sort of psychological path that we feel like the more complex it is the more right it must be oh yeah um and if it's just too easy then it's just too easy we're gonna we're gonna pass on that actually i was working through the content for the uh investing essential seminar that george and i are doing tomorrow night and the next night um and one of the principles I'm going to tell folks is that in studying and hanging out with people with, you know, 5, 10, 20, $30 million net worths, the thing that has always kind of taken me aback is how primitive and simple their investing is. So simple. Yeah. They have no desire to be

complicated. And I think that's how they got all their money. It's the same with people who are physically fit, who have great marriages. It's usually pretty simple. Yeah, it's pretty simple. Like, be nice. Be kind. Exercise. Eat less. Eat less.

Yeah. It's hard. Yeah. This is The Ramsey Show. Dr. John Deloney, Ramsey Personality, is my co-host today. Thank you for joining us, America. Open phones at 888-825-5225. Corey is with us in Washington, D.C.

Hi, Corey. How are you? Hi, I'm well, thanks. How are you? Better than I deserve. What's up? I am trying to figure out how to get out of a stuck situation. I'm living, um, I went through a divorce, which was a really terrible relationship and jumped into my, um, mother's home, um, for the time being, which has been way too long now. Um, and I, in the process, I came in to her home with $55,000 in credit card debt and a car loan, which I've since paid off. You paid off all the credit card debt and the car both?

Yes. Way to go. How long have you been there? I have been here for six years. Oh. So I paid that off and I've saved, and I went back to school all in that time and got a decent job and now make three times the amount that I was when I first started my job. Now I make $118,000. Why are you still there? Because this market here, I started looking in 2020 for homes. I've been outbid several times by like forty thousand dollars how

old are you 45 okay why have you not gone and just rented something so you're debt free and you make 120 000 a year you can rent something yeah the rentals around here for a three bedroom i have three kids and myself for a three bedroom itbedroom, it's about $3,000 a month. So at that point, I thought I was just throwing away money. My income has gone up each year pretty substantially. So I keep feeling like I'm chasing the carrot. I get to like a point where I could potentially make it work, and then the rents go up and the prices on the houses go up,

and, of course, the interest rates are up. So I feel like I can never just get a grasp on something that I can actually move comfortably into. So now I'm trying to figure out, do I just put everything on hold as far as trying to buy a home? No, the secret to happiness is lower expectations. You're trying to move into a neighborhood in an area that your income does not allow you to do. Understood.

And you probably won't be able to catch that carrot. And I don't want you being 55 and living with your mother. I don't want your children graduating from high school living with their grandmother. Yeah, and that's the other thing. I have nothing saved up for them to to go to school yeah but the point is that you have you have painted yourself a world where you have decided that you are trapped by housing prices and rental prices okay and you're not with with With, so I get paid biweekly, and I get paid about $2,600. Again, my income just went up in January.

I was getting paid several hundred less per month last year and the year before. So with that, what can I afford? Because I keep looking at all these other bills. If I understood you right, you're debt-free, and you have how much saved? It's close to $60,000. And you make $118,000 a year, and you have three children. Did I understand all of that right? Yes.

And you did all of that in six years coming out of a broken, toxic, horrible marriage. I'm so proud of you. And you got a degree. You're freaking amazing. Well done. Thank you. Well done. Thank you.

You've really accomplished a lot here. Thank you. And the thing I think I'm hearing, and I might be wrong, Corey, but I think I'm hearing that probably in the marriage and definitely with mom, the home that you're living in were both nicer than the home that you can afford now, and you're having trouble with that. Probably, yeah. I've definitely looked at lowering some of my living, what I'm used to. The home that your mom is in now,, you know, what I'm used to. Yeah. The home that your mom is in now, did you grow up in that home?

No. Okay. So the home you grew up in was not as nice as the home that you're currently staying in? No. And you're not damaged because of that? Yeah. I mean, this house is okay. It's not, like, fantastic or anything like that.

Could you afford to buy it if it was on the market? No. Okay. That's the point. Your childhood home, though, you might, and your children will not be damaged if they move into a home that's not something off of the real estate channel being redone by Chip and Joanna, okay?

So I want you to get your toe in the water in some kind of piece of real estate and establish sustainability of your own life, whether that's an inexpensive rental and you have a little bit too far of a commute, or it's not a stellar piece of property that's that lines up with all of your, all of your wants, but, but does cover your needs. Um, but. But I think you've set your – I think the reason you're chasing the carrot is you set the carrot pretty far out on the stick. And I'm going to pull the carrot back in and grab ahold of it and take a bite out of it.

I think it's probably both and. It's moved the carrot out and the housing market has gotten tough, especially in D.C. I'm not saying it's not tough, but I'm saying the way she can enter the market, make $120,000 a year with a $60,000 down payment, is probably not. I mean, D.C. is super expensive. You're going to be outside of D.C. You're not buying a place in D.C. proper.

You're not buying a place in L.A. or San Francisco. That used to be when you made a hundred thousand dollars a year you'd made it but not anymore right and not with housing prices being what they are and so you're in a market where uh your expectations have burst on based on your fabulous progress that you've made i'm very proud of you but it may mean that you go somewhere else and i dave i this is like a a thing i want to be emphatic about there's going to be things you want to give your kids like she even mentioned i don't even have any college savings i don't have this i don't have this your kids can share a room your kids can put themselves through college your kids can do so much what her

kids have that i don't think she is recognized yet is they have a mom who's a warrior who is extraordinary yes the greatest gift my parents gave me was not college they didn't they didn't have the money to pay for college it wasn't a car it was it wasn't any of those things it was i had two parents that always scratched and clawed and both of them had midlife career changes and I watched them flourish. And lo and behold, this opportunity came up when I had a career and I had the courage to go do something else and I had the work ethic and all this stuff.

That's what she's given her kids and it's not something you can buy. It's something you witness. And so go get a townhome if that's all you can afford and two of your kids can share rooms and they're gonna be fine because they've got an incredible mom who loves them and they're watching you blaze a path. That's the greatest gift you can afford. And two of your kids can share rooms and they're going to be fine because they've got an incredible mom who loves them and they're watching you blaze a path.

That's the greatest gift you can give your kids. It just is. All the other stuff's gravy. The number of people that shared a bedroom with a sibling that ended up in counseling because of that alone is zero. There's a lot of kids. I'm telling you right now,

I just had this conversation this weekend in Utah with the behavior services team. There's a lot of people in counseling'm telling you right now. I just had this conversation this weekend in Utah with the behavior services team. There's a lot of people in counseling because they have never shared a room. They've never had to negotiate anything other than whatever they want whenever they want it. And then they go to college or then they get married and their whole universe explodes because somebody else has a different opinion about something. Because somebody said, oh, the axis of the world does not run through the top of your little head. Who knew? Who knew? I've talked to every

residence hall director on planet Earth that I've ever met and I've always asked them, just privately, shared rooms or single rooms? I've never had one say the right thing to do

developmentally for a college kid is to share a room. I can't sell it anymore because these kids are coming from their own bedrooms and their own bathrooms and their own whirlpool tub, so I have to make these single ones.

But if I was the king for a day. You mean there's not a skylight? Everybody has to share a room. Can we get the sushi delivered to our dorm room? No. Yes. Kids can share rooms. They're so resilient, especially when you have a mom like that.

So move outside of town. You've given them a gift, Corey. They can change schools. It's okay. It's okay. You've given them a gift, Corey. They can change schools. It's okay. It's okay. You've given them a gift by stepping out of a horrible situation and then standing knee-deep in that manure and flourishing. Yeah, it's amazing.

And using that as fertilizer and have grown and grown and grown and grown. I'm so proud of you. You're an amazing lady. I think your real estate is just – I think your problem is unrealistic expectations with your numbers. So that's going to mean you either, that you change probably the neighborhoods you've been looking in, whether it be for buying or for renting. And it may be a long commute. It may mean a complete move. It may mean a lot of other things. And that's not to say I

think that Washington DC real estateC. real estate's cheap. It's quite the opposite. It's basically crazy. This is The Ramsey Show. We'll see you next time.