The Ramsey Show - App - When You Have No Debt Your Swagger Changes! (Hour 2)

Episode Date: August 18, 2022

Dave Ramsey & Dr. John Delony discuss: Using savings to pay off a house, Letting a child access a large sum of money gifted to them, Preparing for a lower-paying job, Getting ready to have triplets. Want a plan for your money? Find out where to start: https://bit.ly/3nInETX Listen to all The Ramsey Network podcasts: https://bit.ly/3GxiXm6 Learn more about your ad choices. https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy

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🎵 🎵 🎵 🎵 🎵 🎵 🎵 🎵 🎵 🎵 Live from the headquarters of Ramsey Solutions, it's the Ramsey Show, where debt is dumb, cash is king, and the paid-off home mortgage has taken the place of the BMW as the status symbol of choice.

We help people build wealth, do work they love, and create actual amazing relationships. Open phones this hour, Dr. John Deloney, Ramsey Personality, number one best-selling author and host of The Dr. John Deloney Show, is my co-host today. We will be talking about your life and your money, 888-825-5225. Jay is with us in Charlotte, North Carolina. Hi, Jay. What's up? Hey, guys. Thank you so much for taking my call. I'm going to be as quick as I can. Okay. Other than my mortgage, my wife and I have no debt of any kind. Good.

We just built our dream house. The balance on the mortgage is $550,000. I'm sitting on about $500,000 cash. And so my question for you guys is, do I take a substantial amount of this money and just do a recast and nuke my monthly mortgage payment? Do I take a substantial amount of money and invest it in mutual funds? We do have retirement accounts or, you know, do I just sit and hold all of it? I don't think that's the best strategy.

My wife and I really don't feel comfortable with having less than $100,000 in cash just because of the nature of my job. And honestly, we don't have any children yet and we want to have at least one child. What's your household income? Last year we made right at $350,000. Okay. What's the nature of your job that is unsettling to your wife? Well, I'm in real estate full-time, and it's been great, but I do see the market turning where I am. You just can't count on selling 40-plus homes a year every year for the rest of your life. It's a bit of a work-life balance, and if we can have a kid, I'm going to take my foot off the gas at some point.

I'm not there yet, but that's the long-term play. Okay. All right. Let me – I'm going to assume the goal is what is the short – the answer to the question should be based on what is the shortest distance between where you are and wealth and the shortest distance between where you are and a high quality of life. If those were the same answer, then we would go with that. Agreed? Yes, I would agree with that.

Pay off your house. Okay. As soon as you can. Put $500 on it today or $400 on it today or 400 on it today or 450 on today take a big chunk of your wonderful income and finish it off by spring be 100 debt free as soon as you possibly can now let me tell you what's going to happen and why i said that then you get to decide if i'm right okay in studying 10 000 plus millionaires the largest study of millionaires ever done in North America, and in 30 years of sitting in this seat walking with people that have become wealthy,

the data shows us very, very clearly that the typical millionaire in the first $1 to $5 million of net worth has two things. They have a beefy, consistently funded over a 10 or 12 year period of time plus 401k roth ira plan in good mutual funds and they have a paid for house that is the typical case of all of them that we've studied now there's exceptions but the vast majority fall they have those two things almost none of them, we didn't pay off our house, we invested the money in mutual funds, not in a retirement account, and that made us wealthy. That is a theory that a lot of people talk about,

and actually almost no wealthy people do it. Right. So the shortest distance from where you are to millionaire based on the data and the experience I have is pay off your house as soon as you possibly can and then continue to steadily invest in your retirement. The second thing that's going to happen that is not from the data but is from personal experience as well as experience of sitting in this seat is what you don't realize as a self-employed person and as a salesperson to boot is that when you have zero debt your swagger

changes the way you walk changes the way you deal with clients changes the way you get rid of high maintenance time-sucking horrible clients and don't take them makes you available to take on the good clients you will end up making more money because you're peaceful and you are more selective and you're careful and a broke salesman smells different than one that's not right you're going to make more money because you paid off your house. It's hard to grasp that, but all of my 30 years of experience indicates that that's the truth. And I'll throw one more at you, okay? Number three, your wife sits in some – she's got $500,000 in a checking account, and she still has that little voice saying, we're not safe, we're not safe, we're not safe.

If something happens, if the market turns, if something goes sideways, we're not safe, we're not safe. Take all of the risk variables off your table. Then you don't need a hundred thousand. Y'all have never breathed air where you owe nobody anything. And suddenly you don't need a hundred thousand dollars because if the market turns and you only sell 15 houses, there's nobody starving, right? You're going to have to change your lifestyle a little bit, but all your bills are covered, right? It changes the air you breathe in your home which makes you laugh a little bit more you sleep a little bit different you don't skip as many workouts you don't fit your whole rhythm changes when i got a net worth in excess of 10 million dollars and had zero debt i did not work less hard. I just worked less desperate.

Oh, you should write that book. You know, I still work. You know, I work my butt off. Yeah. I work all. I love what I do. So I'm down here all the time. But I absolutely have zero mathematical reason to work.

Zero. Yep. And I'm not bragging. It's just this crap I teach works. That's right. That's right. And I'm not bragging. It's just this crap I teach works. That's right. That's right. And I've been doing it a long time. So it just,

sometimes salespeople sell a lot and work really hard and have bad work-life balance and it's desperation. And sometimes they do it just because they're freaking good at it. And they like it. I mean, they're Peyton Manning, Tom Brady.

Man, they just get her done. And it's just a thing of beauty to watch, you know. They're in a zone. They're artists with what they do. And it changes your brush strokes. It just does, man. You hit the ball different. You throw the ball.

The whole thing, I'm telling you, it changes everything. And it's hard to grasp that. And that is, for those of you listening in on this conversation, which is all of you except Jay, because it was with him, but Jay, go pay your house off. Shut up.

But now then anyway, but that, that, that, that's part of, we were talking about this in a meeting a little bit earlier. The borrower is slave to the lender. Now we throw that around and we go,

okay, yeah, when you have to, when all your money comes in and you have to give it all to the bank, that feels like a slave, right? So the Bible is telling the truth in Proverbs 22, seven,

right? And so, but you know, here's the thing you need to take on is what are the character qualities and lifestyle and mental health of a slave they're trapped they don't have any choices right everyone else makes their choices for them they've got no freedom they've got no peace they don't breathe their own air it's impossible to be generous right slaves are never generous you know you ever met a generous slave never met a slave so i don't know but you know but i mean think about it think about the concept of the what slavery does to the psyche yeah what slavery does to your psychology to your body it takes everything it's generational right it goes on for it keeps

going you don't even know it because you get so used to it that even the people of Israel wanted to go back to Egypt. Because your spirit is damaged at that point. And we don't grasp all of that when we're just talking about, I want to get out of credit card debt. It's great. Get Sally Mae out of the house. She's a witch. Get her out. Okay?

But what happens to your life and your spirit, it's a big big subject this is the ramsey show Dr. John Deloney, Ramsey Personality, is my co-host today. If you're listening to this show, there's a good chance you finally had enough of where you are in life right now. Enough mediocre relationships, enough being stuck in meaningless nine to five job's enough struggling to pay for gas enough struggling to pay for groceries enough make too much to be this broke the truth is nothing's going to change until you change it so this month we're bringing back the ramsey ten dollar sale you can get up to 83% off our number one bestselling books and tools that'll help you finally take control like the total money makeover, know yourself, know your money, own your past, change your future by

Dr. John Deloney, questions for human cards by Dr. John Deloney. I've got a new quick readout called the momentumum Theorem. Or if you're looking for a career change to grow your income, pay off your debt, check out Ken Coleman's resume templates. So $10, you can finally say enough is enough. Enough! Go to RamseySolutions.com today and check out the store. You'll see what's going on.

Our question of the day comes from Blinds.com. They are the number one online retailer for custom window coverings when you deal with them you'll see why you get free samples free shipping and with the new promos they run every month you'll save even more always use the magic word the promo code ramsey all right today's question comes from jane in wisconsin my daughter is 15 and has recently experienced some mental health challenges. I'm concerned about her ability to manage the money her grandparents have been investing for. I currently

manage the account, but it will transfer to her when she turns 16. Should I allow the account to transfer to her, but hide the login details or transfer the money into my name until she turns 21? both feel morally wrong and maybe illegal is there a legal way to ensure she can't access it until she's 21

so dave my my i just are operating rules never lie to your kids um this is complex because her child's obviously struggling with some challenges here. I don't know the legality. You've probably seen this question more than I have. I don't know why you can hide something that transfers to a kid, but also this kid's a minor. Yeah, so it doesn't transfer to the kid. You're confused somewhere.

Okay. All bank accounts, all mutual funds for people under 21 have a custodian on them an adult or 18 or 21 18 21 depending on the state whatever but i mean you're you're not 21 if it's mutual funds um you're not able to enter into contract law which opening a savings account is in any state in the union when you're not an adult there you go and so now the the trust may transfer to her the uh whatever but she doesn't suddenly become the owner of a million dollars at 16 years old or whatever this amount of money is it just doesn't happen now but i'm with john just tell her the truth hey i'm walking with you through these mental health things and you don't need the pressure of this right now.

The money is yours. It'll be there for you. You'll have access to it when you are healthy, and you are able to make good decisions with it, and like when you're an adult. Nobody's going to do anything with it. I'm not buying me a new car with it. I'm not doing anything like that.

The money's there. It's yours, sweetie. It's okay, and it may be only $1,000. I don't know what it is. We don't know from this. And sometimes people get it in their head that it's a lot of money. It's not immoral and it's not illegal to care for your children. They're minors.

It's immoral to not care for your children. Or to hand somebody who's struggling a million dollars. Yeah. It's not ethical. Now, if she was 23, now you've got all kinds of issues. Well, you really don't have any issues. It's well i mean you but you you can't do that then you just you just have to talk to you you could say you could offer to become her power of attorney until she gets well but that you do that for your friend who's 32 also you know and so but but you've got a minor here and they just um they have a right to uh ethical treatment they have a right to nurturing they have a right to nutrition

they have a right to not be abused um but they don't have a have ownership rights as minors right um my car by the three-year-old is not actually a true statement well and i i think we forget sometimes dave had this negotiation with one of rachel's the other day i imagine but we've all agreed as a society um we think you should be 16 before you get behind a 3 000 pound metal missile headed down the highway. Let's wait until you're 18. Let's wait until you're 21 for some of these. But then we turn around and we just ask kids to make so many heavy decisions. Or what do you want to do when you're 15 years old or 14 years old?

Man, they need adults in their lives to help keep them well and help keep them whole. It's okay to uh have give them information but not the weight right yeah i'm gonna carry this for you it's gonna be here for you when you need it yeah but you don't get to you know you're not gonna go buy a fifty thousand dollar car because grandma gave you a hundred thousand bucks right you're not gonna do it and because you're not capable of making that decision and so someone will be assigned as the custodian until she's 18 there's currently someone i currently manage the account but it will transfer to her when she turns 16 um i don't know where you got your information jane but

something's confused here hey let me ask you this if she took that money and rolled it into a 529 is that a way to shelter it from her kid and save it for college? I don't know what the source of the money is. Okay. And whether that's going to be okay. I just think you just say no. Yeah, I don't like stealing. You're doing heroin, and I'm not giving you any money.

Yeah. Sue me, you know? And if you want to if you want to you know go live somewhere else or whatever and you want to get a lawyer then you can do that I guess but um but I'm not giving you I'm not going to assist you in harming yourself yeah and you know miss misusing this money is harming you and the future you and I just love you too much to let you do that and so you know another version of that we always said was uh we had uniform transfer to minors act which is before there were 529s

that's how you save money it's just all that means is you open a mutual fund in the kid's name but you're the custodian just like we're talking about and uh parents would say always say well i don't know i mean my kid turns 16 or turns 21 i mean what if they're doing heroin i would just go well technically you're 21 it's their money i guess they've got a well financed heroin addiction or you can just look at them and go find it i'm stealing it you know that's technically illegal right but i mean what am i gonna i'm gonna take care of my child right and if some of you don't like it screw it yeah you know i'm doing it anyway so no i'm not gonna let you kill yourself because i saved money for you that's dumb so uh and sometimes the culture is dumb call dhs everybody does so why not you know why not you too so um you know have at it baby good luck with that let's see how it

turns out for you you're still none of you're to find it because I'm the only one who got the codes. And so, and I'm just that guy, you know, because I just, I'm just going to, it was my money to start with. Right. That I gave you. And now we're not going to let you, you know, so you just kind of have to have the old school parent idea of like, I'm in charge. Right.

And I'm, and I'm going to love you even when it's hard. Yeah. Yeah. The inmates don't run the freaking asylum at the Ramseys. All right. Up next, Savannah in Olympia, Washington. Hi, Savannah. How are you?

Hi. Thank you so much for taking my call. Sure. What's up? I have a question about a potential job change for my husband and what our next step should be. We are almost finished with Baby Step 3A, and my husband is looking

at moving divisions within his work. We are unsure if the pay will be the same. He is excited for this new opportunity but it feels like it and he feels like it would be a better fit for our family because it's a telework position. My husband's current position is demanding overtime hours where he is on the road anywhere between three to five days a week and it is negatively affecting our family um financially our rent and expenses expenses has increased dramatically over the past year and there isn't a lot of wiggle room without over stop stop stop stop stop why did your expenses increase dramatically over the last year um rent um has increased almost eight hundred dollars and um we have our one-year-old is now um eating and um we are now what does your husband what does your husband make he currently makes 90 and what would he go to if he took this job do you

know you don't know it depends it depends It depends. What's the worst case scenario? The worst case scenario is that we lose $20,000 a year. Okay. Here's another one. C, none of the above. Go get a job where he has a life and makes 90. He doesn't have to stay with his company. You backed yourself into a corner.

You've narrowed yourself down and you have only two options. Jeez, there's nine million places you can work. Why do you only have two options? No. Change jobs. Dr. John Deloney, Ramsey Personality, number one bestselling author, is my co-host today in the lobby of Ramsey Solutions on the debt-free stage. Jeremy and Becky are with us. Hey, guys.

How are you? Hi, Dave. We're good. Welcome. Where do you guys live? Denver, Colorado. Welcome. Good to have you guys.

We're glad to have you. How much debt did you pay off? $125,000. Woo! How long did that take? 23 months. Good for you. And your range of income during that time? We started at $65,000 and then up to $150,000 and now around $110,000. Awesome. So what do you guys do for a living? I'm a physical therapist. And I'm a quality engineer. engineer okay so you turned it on to get out of debt and then turned it back down so you could have a life we had a baby oh there's that okay i'm part-time um and i'm home with my daughter that's a good life to have right there i like that life so what kind of debt was this 125 000 my grad school student loans all of it all of it

straight up sally may she's out of the house decided to kick her out so we could have a baby that's right i like it need to have room sally you got to leave it's only a two-bedroom house we needed extra space for the baby that's it sally you can't stay i like it i like it i like it so uh what happened 23 months ago how'd you get connected to this whole ramsey way thing well it was a little bit before that we got gazelle intense 23 months ago but right before that my husband lost his job and then we realized oh my gosh we have a lot of debt this is not good and then covid of course and then everyone thought that they were losing jobs including myself and we we were like, this is really bad. And we had read your book.

We had gotten the really old school FPU from a patient of mine. And then we did that. But then beginning of COVID, you did the free two-week FPU trial. So we just blew through that and said, let's do it. Binged it. Yeah. I like it. Instead of Netflix, we binged FPU.

That's better than Tiger King. It was. We missed Tiger King. Yeah, we did FPU instead. You missed nothing. Oh, way to go, you guys. So that got you completely geared up and ready to go in 23 months game on. Jobs come back in and you just start smacking the thing around.

Yeah, everyone stayed at home and I got two extra jobs. I was working 12 hours a day. Whoa. Yeah. Yeah, we were really going. So, yeah, I'm glad to not have to do that anymore. And what's your baby's name? Bridget.

And how old is she? She turns one year and two days. Okay, so kind of in the middle of this, Bridget comes along. Yeah. So you're working like crazy while you're super pregnant. Yes. She was. Yeah, I slowed down a little bit as one does when they start to waddle.

We slowed it down to a waddle. Yes, we did. I like that. Instead of a side hustle, it was a side crawl. Side shuffle. Side waddle. Yeah, that's it. Yeah, I like it.

That's good. That's a good phrase. That's good. That's smart. So you guys just, I just i mean how long y'all been married it'll be six years okay yeah six years so two years of the six years you've been doing this stuff and then covid of course as part of the sentence right uh but covid and all this and yeah it's like something like we have to have this qualifier and everything we do for at least the next five years or so and then we'll move on and forget about uh well anyway yeah let's forget about it so now um let me ask this uh the i'm gonna throw this out there and

feel free just to dismiss it okay but i hear this a lot doing debt-free screams for the last few years when it comes to one person has a lot of um student loans there ends up being some shame on the part of the person who has the student loans and there becomes a little bit of frustration that i'm having to work like crazy and i kind of lost my wife because of these her student loans how did y'all navigate that because it's just hard it was hard i would it definitely was hard um you know i i had just paid my son to be honest i know he was he's like she's holding my hand but there's millions watching yeah i had just paid my student loans off a couple years before that and you know when i found out because i didn't really actually know how much she had when i found out and we started this journey together i was just like oh how are

we going to do this there's there's no way it just seems like a mountain we can't climb yeah and we climbed a lot of mountains in colorado yes we did but we just i mean finding fpu and just buckling down and chipping away at it you know kind of puts all the uh emotions of shame or uh resentment either one in the rearview mirror when you got a goal exactly yeah yeah and knowing that she loved her job too um you know it was worth uh yeah worth cleaning up the mess yeah exactly very good you guys well done proud of you thank you who were your biggest cheerleaders well i feel like everyone thought we were really crazy at first because everyone you know especially during covid they were like why are you going out why are you working like you need to stay home and quarantine

like yeah but i cannot live with like this anymore and then as the ball got rolling i think all of our family jumped on board you know um my mother-in-law and sister-in-law are here today celebrating with us so that's good it took it took a it took a minute but i think everyone was pretty excited afterwards yeah once they realized how much we did in one year they were all like oh wow this is possible yeah how hard was it making that kind of money and driving a used car the car reminded us a lot because i feel like i had to keep taking it into the shop to get it we we cash flowed a lot of stuff during this time too yeah yeah paying for the baby um dogs acl surgeries cost a lot of money thank god she's's cute. Yeah. Yeah, her knees.

She had two knee surgeries during all this. Wow. Dogs are expensive. Yeah, they are. They are. They can be, yeah. Especially free dogs. Yeah, that's pretty much.

That's exactly what this is. Yeah. I never had a free one that ended up that way. Free. Yeah. So, way to go, you guys. So proud of y'all. Well done.

Very well done. We got a copy of Baby Steps Millionaires for you. That's the next chapter in this story for sure.'re on your way total money makeover you can give that away to somebody maybe who's a doubter maybe you can get them on your team now and get them going and also financial peace university a one-year membership and uh the the since you've seen it there's all brand new videos not all but largely dr john deloney and george camel rachel cruz and i are all in there now and uh it's really really strong so go back through it if you want or give it away either one whatever you want to do it's all all good and uh so very very well done now what do you tell people the key to getting out of debt is don't give up just don't give up no we we had to make

major changes to our lifestyle um but we did it together I feel like having having a partner and you can do it without you know a spouse too but it was really nice to have someone there on the same page and really working through it together the built-in accountability the built-in encouragement yeah is really cool yeah it's working that way it's working right and we made some other you could you you probably be mortified we've learned being in nashville that there's a lot of really great meat and yummy um like chicken like nashville hot chicken and stuff but we became vegetarian during all this to save money and um and minimalist to save money too so yeah that's all good it's

beautiful we love the life we live now and You get to choose what you want to do. That's what this is about. Yeah, yeah. We have a lot of freedom to make choices that we didn't get to make before. Let's worry. All right. Is Bridget going to be in the shot with us while we do a debt-free scream? You want to bring her in?

I think so. It'll be maybe a debt-free whisper. She's really tired. We don't want her to be scared, yeah. We don't want to scare her. But we do need to celebrate your incredible milestone well done jeremy and becky and bridget denver colorado 125 000 paid off in 23 months making 65 to 150 to 110 count it down let's hear a death free scream three two one we're debt free she made it

great this is how it's done this is how it's done I love it I love it I love it doesn't get any better than this so proud of you guys very very good one of my favorite things is when

somebody makes a choice I'm going to set down my shame I'm going to set down my resentment than this. So proud of you guys. Very, very cool. One of my favorite things is when somebody makes a choice. I'm going to set down my shame. I'm going to set down my resentment. And you mentioned you've got to have a goal and I think you've got to have a plan. A track you can follow. I'm going to take a couple steps. I'm going to take a little step. I'm going to take a little step. And then we're going to get there together. But it took two people

to say I'm going to set this thing down and quit carrying it. And I just love that. Yeah. And then it's in the rearview mirror. Yes. Because you move on. Because we're going this way yeah that's right love it this is the Ramsey show ស្រូវនប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ប់ Dr. John Deloney, Ramsey Personality, number one bestselling author of the book, Own Your Past, Change Your Future Future is my co-host today. Open phones at 888-825-5225. Mitchell is with us in Salt Lake City. Hi, Mitchell.

How are you? How's it going, guys? Thanks so much for having me on. Sure. What's up? So my whole life I've been pretty financially stable. I would consider myself a frugal person. Um, recently my world got turned upside down. Um, my wife and I, we just had triplets.

Oh, yeah. That's usually the reaction I get from people. Um, and it's just really just thrown a wrench in what and how I've been planning financially. So, um, a few months ago, well, November of last year, we got pregnant. And right around that time, we had bought in our first house. It was actually a duplex. And the numbers were so good on the duplex that we could actually live in one side completely free. The other side was actually paying for the whole mortgage and some. So we were planning on living in the duplex for years, a long time, not having any, um, not having to make any payments. We have debt,

obviously, but we were comfortable with the debt in that house. And then when we found out we were having triplets, um, there's just no way we can fit in there. It's, it's really, it's really small. It's old and we just don't want to raise our family in there. So now, currently, we are under contract to buy our first house. And I'm just freaking out because I hate that, and I just feel like I'm making a bad financial decision. But I just wanted to reach out to you guys and see what your thoughts are on on on what i'm doing you sell the duplex so we haven't sold the duplex um because now now we have renters on both sides i'm currently living with my parents and they're helping us with the with the triplets sell the duplex and sell the

duplex yes and even so and the cash flow on the duplex so right now we're cash flows if they pay it you're right they don't always pay you have stress because you're carrying a bunch of debt that you can't on a rental property that you can't afford and if it does if it doesn't work it's going to go sideways and you're you're you're feeling that in your chest along with the weight of two three triplets standing on your chest yeah so so you're right there that stress does i mean yeah i'm just stressed all the time now like no matter what this scenario is i'm just stressed out well it's because you're trying to keep everything you're trying to keep the past dream and and stitch it to the future new reality and they don't fit together dump the duplex move on with your

brand new awesome life but it's a completely different life than your little plan every you haven't got it through your head yet everything is different now oh no yeah yes he does i know that everything's different so how much is the house payment on the new house going to be? So on the new house, the payment would be about $3,100. $3,100. Nice house. $3,100 on the new house. And what is the household income take-home pay? So household income.

So my wife currently, she's not working she's she's full-time mom she had triplets yeah she's for sure working dude oh i know she works a lot harder than i do and i let her know that she's not working outside the home okay yeah so what do you make dude so i'm doing about two to three hundred thousand a year. You're fine. Sell the duplex. Here's what's going on, okay? You are, because I'm you, that's how I can just, it's easy for me to read this. Because I'm like a super planner. I mean, I know what I'm going to be doing in March right now. Okay?

It's ridiculous how ridiculously anal I am about this. I mean, I just, I love having a plan. When we go on vacation, I know what we're going to be doing the whole time on vacation, or it is not relaxing to me. It's not relaxing to me to not know. Not knowing is stressful for me, okay? You're that guy.

You're like that, right? I'm the same person. You had this all dialed in, and the car hit the wall i mean it was like nascar engine up in the stands doors flew off your plan just disintegrated thank goodness it was for a joyful reason yeah no they're a blessing but it completely you're it just you know so now what you've got to do is you got to regroup and it's going to take you a little while to sweep the corners out of all the wreckage and now build a new plan with the new situation and you make a ton of money you're in a great situation you got three wonderful

babies you got a wonderful wife wanting to take care of them and and now you've got a nice house to stay in instead of that cheap butt duplex you had stuck your wife in making $300,000. Yeah. I haven't even mentioned yet that we also need to buy a van because they don't fit in our cars. So save up and buy a little cheap van or pay whatever you can pay cash for and then move up a little bit in van later and get a little better one later. That's the other thing is people, these triplets are teeny tiny little humans. And we feel like, oh, I'm bringing home a 12-pound human or a 10-pound human or a 6-pound human.

They need their own bedroom, their own furniture set, their own. They don't. They don't take up that much room. They don't. Yet. They will, but they don't. You've got a few years. They need three car seats. They need three car seats. You can up that much room they don't yet right they will but they don't you've got a few years they need three car seats they need three cars a sedan that's right you know be uncomfortable and annoying and all that but you can do it right yep yep yep yep yep

you're gonna be fine mitchell you're just going through congratulations you're in shock yeah you're just going through shock i mean you're you're you're a planner and your plan got destroyed yeah and until you get your plan rebuilt you're going to feel the stress, and it's going to take you a little while to get accustomed to the new rhythm of life and put the plan in place, and then you're going to be there. But, I mean, it's what you say all the time. You've got to grieve the thing that what you thought it was going to be is not going to be. It's not going to be.

So you've got to grieve that and go, I thought this kind of – yes, I can't say out loud loud babies suck but three of them at one time it's hard it kind of sucks a little bit you know and then there's then there's awesome all the awesomeness but there's a little bit of you that goes you know and so that's reality and that's okay but you're not allowed to say that out loud i know i'll get trashed on twitter just because i said that so it's about getting trashed on twitter every day so that's exactly right hey so let me ask you a mechanics question um let's say he was going to profit a hundred grand from the sale of this duplex yep it appreciate that much yep would it be best for him to take let's i'm assuming his house payment

is probably about 500 000 it's gonna be his mortgage so would it be better for him to put a hundred thousand dollars down and drop that 3100 a month to 2800 a month or to just go ahead and make the loan and then immediately dump a hundred grand on top of it because i think he's already got the house okay no no no it's under contract under contract yeah if you get the duplex sold in time put it as additional down payment and have a smaller payment because that would be like because that's a i would throw it all at that unless you need a little of it to buy a van but there you go the rest of it i mean let's be dead he said he was debt free so what kind of van are we going to buy making 300 grand i mean go go get you i like the idea of collapsing that uh monthly payment as much as i can yeah yeah i always put everything down on

the house i can above the emergency fund and above in this case a new van and the second and third baby bed and so whatever it is you got to buy right and so it's it's just it's a thing but mitchell you're going through a normal human adjustment to a shock to your system and that causes stress right and if you didn't feel all of this in the form of stress you would be psychotic you go see a doctor right yeah and so you know normal humans when they go through what you have gone through have a moment you know that you know just so the good news is you're normal right and let's chip chip away at it right because if you're a planner you've already started thinking oh gosh i'm gonna have to hunt have a hundred thousand dollars a semester for these three and so don't go 20 years down the road and start creating catastrophes that you've got to solve today just start following the plan chip away at it and chip away at it old minister was working the altar and a friend of mine young boy came forward and years ago and told me this

story he became a pastor later and he said this guy was a visiting evangelist and he went up and he asked for prayer he said i'm having i'm 14 years old and he said i'm having lustful thoughts about girls and the minister laid his hands on him and he prayed lord thank you this boy is normal just relieve you of the stress yeah i mean it's you're normal mitch i mean this is what you're in you're in this situation and so you're normal thank goodness you're okay now you're going to work through the things that are causing you anxiety, limit them, develop a plan, cut loose the old stuff from the old dream,

the duplex is gone, and we move forward into the new dream. You don't have time to be a landlord. And then everything will calm back down and you'll get your little planning self together. I know this because I have to do it all the time. This is how I love my life. So I'm right there with you, brother.

Good question. And congratulations, Mitchell. Way to go, Mitch. it all the time this is how i love my life so i'm right there with you brother good question and congratulations mitchell way to go mitch happy three times over awesome this is the ramsey show dave here you can find all of our shows with the Ramsey Network app on your smartphone. It's the only place to listen to the entire back catalog of episodes. Download the Ramsey Network app in your favorite app store today.