The Ramsey Show - App - When’s the Right Time To Tell Our Kids We’re Millionaires? (Hour 3)

Episode Date: January 7, 2022

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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. I'm Dave Ramsey, your host. Thank you for joining us, America. We're glad you're here. George Camel, Ramsey personality, is my co-host. As we take your calls about your work, your relationships, your money, you, and how all of these revolve together. Open phones at 888-825-5225.

Jen starts off this hour in San Antonio. Hi, Jen. How are you? I am better than I deserve, Dave. Good. Happy New Year. How can we help? Yes, sir. My husband and I are, we're Army. We have an 18-year-old who will be joining the Army. He's going to be leaving for BCT in June. He's a senior in high school right now. He's 18 and I want to set him up. I want to set him up, you know, financially with a good base.

My husband and I have both been through FPU. We graduated. We are debt free. We had $97,000 of debt. We got rid of it in three years on specialist pay. And that was not a lot of money and i was still a stay-at-home mom um my question for you for the 18 year old is should we sign him up for fpu fpu military or foundations because he's still a senior in high school. Probably military.

Okay. Or just regular FPU, either one. But this is an adult doing adult stuff, and you're preparing him for that. How much of your story does he understand? I'm pretty sure that he doesn't really remember a whole lot of it. He was a little kid when we were grunting through all of it. Is he working or has he worked in high school at all? He does have a job now.

He's not making a whole lot, but he does have a job right now. He does have minor expenses. I am making him the car that he is driving is an old beater that we just never got rid of. We paid cash for it and we never got rid of it. And so we're just passing it along to all the kids. And his responsibility is to pay insurance and gas for that. Good. I think you're in a unique position for two reasons. One is your debt story, and two is your military story. Thank you for your service. Thank you for your support.

And I think you sit down with him, you and your husband. You might even, the two of you take him to dinner somewhere nice. And, you know, to celebrate him going into the military and to celebrate him moving into manhood and so forth. And, uh, and during that dinner, I would do two things. Uh, number one, I, I would convince him of your, I'd convince him of your position using two things. One is we've been in the military all these years and let me tell you here's from a military person's perspective that is uh uh experienced not brand new here's what all the stupid people do when they're 18 and they go to boot camp because there is stupid all over

that right oh you wouldn't believe oh i do believe we work with the military that goes to post yeah it's it's when you leave the base they're stupid down both sides of the road for about two miles and so uh you know that that's the thing and so you know you need to just talk him through that military as an older military person with experience and then on top of that that, you say, now, you probably don't remember it, but here's our story when you were a little kid. And here's what we did, and this is how important this stuff is. So we've gotten you this Financial Peace University, Military Financial Peace University,

and we want to insulate you against stupid by giving you this information so that you don't go out and repeat what most people do and even a little bit of what we did. And I think that's what most people that are 18 and go to boot camp do. They do all these dumb things. We know that as military people. We also know that this debt thing is this because we did it and this is how we got out and you don't remember the strain you were a

little guy you don't remember the grunt you were a little guy and uh and i you know this is mom and dad as adults talking to their adult kid this is your oldest isn't it yes yeah this is a whole new phase for you guys to learn to have friends to become friends with your adult kids and advise them from the friend's seat instead of the mom's seat and that's kind of what i'm recommending here you're you're building credit let's pretend this was not your kid that it was your friend's kid and you took them to dinner that's how you you would persuade them you would not be able to use your mom voice right yes and that that's that's that's a new skill you got to develop anyway because he's getting ready to be out of your control in about 20 more minutes yeah i feel like there's a little bit of fear here of i hope my kid makes good decisions and

it sounds like he has incredible parents so i'm less worried about that but i do want him to avoid all these traps and going through something like financial peace university is is a great way to do that and i would love to gift that to him uh we can gift him with the ramsey plus membership austin will pick up and make that happen for him and you tell him this is from dave and george and they said the only stipulation is you have to actually do it yeah amen good stuff yeah hang on and uh austin pick up yeah george i did that exact same thing but from a civilian perspective when the kids are getting ready to go to college you know we had a a rite of passage moment that says you know we have trained you in how to walk with God. We have trained you in how to be a confident young woman, a young man. We have trained you. Now,

and here's what people do when they go to college. You know, they're dumb. They play beer pong instead of going to class, you know, and there's a high correlation between people that attend class and they graduate, and there's a high correlation between people that attend class and they graduate. And there's a high correlation between people that look at the list of classes you have to take to graduate in four years and actually take those classes, and then you will magically graduate in four years. It's an amazing thing. So you're helping them, warning them about, hey, here's what you're going to see. Avoid this. Yeah, you're going to see people do things that you never dreamed that people would ever do.

And you're going to see them do it right there in front of you. And then you've got to decide who you are before you get in that situation. And so you kind of set them up. You know, we have the rite of passage conversation that is insulating or ensuring that this is what's coming and here's how you're going to deal with it. You know, you're going to be in a mainstream school. Not everybody there is going to share your religious views or your faith. And so you're going to have to be a representative of that. You know, Ramses just don't act like that. Ramses act like this.

And you know that because you had to do that under our watchful eye while you were a teenager. But now you've got to make that other move. And that's just a really good thing that parents need to plug in and do. It's a powerful thing. I gathered about 15, 20 guys on my back porch and had all of them give my son advice before he left. Wow. He'll never forget that. Strong men, good men, men that were successful that he looked up to. And it worked. And, man, that advice, we put it on a DVD and stored it. It was pretty incredible.

Wow. You've got a lot on your plate. A job, your home, your marriage, and your growing family. While you're enjoying the present, you can't help but think about your future and your finances. As you explore your options, consider Christian Healthcare Ministries, or CHM, for your healthcare. Their generous maternity program and budget-friendly monthly programs have been a blessing to members welcoming children into their families. Visit chministries.org slash budget to see if it's right for you. Christian Healthcare Ministries is a Ramsey Trusted Provider. Next week is a big week at Ramsey. The new Baby Steps Millionaire book comes out on Tuesday.

If you haven't pre-ordered yours, you should now at RamseySolutions.com for $20 to get your deal. It's got about $100 worth of add-ons. All of that stuff goes away on Tuesday when the book comes out. So now's your time to get that as quickly as you can. And we are doing a live stream event called Building Wealth in 2022. The in-person tickets, over 1,500 of them are sold out. They sold out in just a matter of days when we opened up the event. So now we've opened it up to a free live stream.

Over 70,000 folks have registered so far, which means that there'll be over 100,000 viewing it at least. And you don't want to miss this. George Camel beside me here, Rachel Cruz, Ramsey Personality Bestselling Author, will be with me to tell you how to build wealth in 2022. We're going to deal with all the discussion of all the stuff everybody's talking about out there. And Get Rich Quick is alive and well right now. And I've been thinking about that a lot and, you know, got some things to say about it. So you don't want to miss this, and you don't want to miss the steps to really building wealth. We're really, really, really going to show you how to really become wealthy.

And, yes, more than 10,000 people have become millionaires doing the Baby Steps Millionaire stuff. So we actually do know what we're talking about. Dave Ramsey's only good for getting out of debt. You're an idiot, okay? Dave ramsey's led more people into millionaire status than anybody else walking right now boom so that's mic drop all right so let's just talk about it for real here and quit dealing with your dad jokes and your boomer jokes and all the other bs some of you reddit threads have got going um so we're actually going to address this stuff head on, and some of you are not going to like what we say,

but we're going to tell you the truth. That's the way it always is around here, because we love you and we want you to win. RamseySolutions.com slash wealth to register for free to watch the live stream Thursday the 13th. This Thursday coming, a week from yesterday for most of you Thursday the 13th, this Thursday coming, a week from yesterday for most of you, the 13th. Next week on Thursday at 7 o'clock in the evening Central Time,

a free live stream. But you do have to pre-register to be able to get it for free. Just go to RamseySolutions.com slash WealthGeorge. It's going to be great. I'm really excited. Next week is a big week for a lot of reasons, Dave. You've got the book launch

on the 11th. We have the event on the 13th. And I'm going to tease something else happening on the 12th. Okay. And that is

my debt-free scream. Uh-oh. I'm going to let the cat out of the bag if you're listening right now to tune in. Third hour debt-free scream

from the camels. So I'm really excited. I'm kind of nervous my wife's freaking out it's a friday it's on the 12th it's on wednesday so we got the book launch on tuesday i'll be hosting the show with you on wednesday and we're gonna do that and you're gonna have to get up out of this chair and go out and do your debt i'll take a break and go do the scream okay and then be back on the air a little weird and then we have the event on thursday so it's gonna be a packed week yeah it's a big week and a lot of stuff. So George and Rachel and I on Thursday night, don't miss this. RamseySolutions.com

slash wealth. It is a free live stream. No salesman will call. Randy is with us in Toronto, Canada. Hi, Randy. Welcome to the Ramsey Show. Hey, Dave. How are you doing? Better than I deserve. What's up? Hey, so me and my wife are almost finished here with Baby Step 3, and we're going to get ready to start investing for retirement this year. Since we're living in Canada, I was wondering how much U.S. funds we should hold in our retirement account as opposed to Canadian funds.

I don't know. I would think, I mean, you have the equivalent of 401k systems there, correct? We do. We do have the equivalent of Roth IRA here, but it's very popular for Canadians to hold U.S.-based funds because the U.S. market is so much bigger than the Canadian market. Are you allowed to do that inside of your retirement plan? Yes, sir. Why wouldn't you then? Just put it in whatever's best. If the U.S.-based funds are performing better than the Canadian funds, fine.

If the Canadian funds are performing better than the U.S., then put it in the Canadian. This is not a nationalist issue. It's not a patriotic issue. It's a math thing. Right. So where are you going to make the most money? I mean, I'll put it in Germany funds. I don't care. I mean, you know, where is it going to make the most money? And I mean, I might have some moral objection to China, but I don't, you know, most anybody else. So, you know, you've got to look at those kinds of things. But, you know, if you've got access to them and you've got the tax protection, I don't know much about the Canadian system other than I know you do have that, the equivalent

of a Roth going there. And so, yeah, you do your version of a 401k Roth there. And if you can, you fund it with the best funds that are available. Yeah, and as long as you're diversifying that across the four types, you know, growth, growth and income, aggressive growth, international, you're going to be diversified all over the world anyways. But like Dave's saying, Canada's economy, it's a small part of the world. So there's nothing wrong with going all in on U.S. stocks if that's what is best for your mutual funds. So there's no issue with you investing in U.S. stocks. Make sure you're working with a tax pro.

If it's near a 401K and it's tax advantaged, that's always going to be the best route to go. Yeah. And, you know, the four mutual funds we suggest for U.S. listeners is growth, growth in income, aggressive growth, and international. Thus, the companies that the international funds, it might be a U.S. fund, but it's investing in international companies. The stocks or the companies are international. So, yeah, that's what we're looking for is the best rates of return.

John is in Columbia, Missouri. Hi, John. Welcome to the Ramsey Show. Hi, Dave. Thanks for taking my call. Sure. What's up? So I recently sold my car. It was paid

off and it made about $10,000 in profit. I had planned on taking that $34,000 in savings and paying off my only debt, which is a $28,000 student loans. But I'm worried about the taxes. I know that's kind of an unusual situation, so I've never heard of making that much money on a car sale. Should I put some of it into retirement? You sold the car for $10,000 more than you paid for it? $9,750 to be exact, yes. Holy crud.

That's awesome. It was a 2019 Camry. And it sold for $9,000 more than you paid for it. 9,750, yes. Yeah, you covered that. Yeah, I got it. I'm just, I'm just. So you paid cash for this car, and then you resold it a few months later, a year later?

No, it was, May will be two years. Okay. Wow. I never thought I would be answering a capital gains question on a car in my life. But apparently you're going to pay 15% of that. So you need to set aside 1500 bucks for your taxes. Because you're going to have that as extra taxes or you need to have that much extra taken out of your check throughout the

year one of the two because you just created a taxable event and if it's it's the asset was held longer than one year so it should be subject to capital gains i guess god i never thought i'd answer this question on a depreciating asset. But that's just bizarre. It's where we find ourselves. So wonderful. Wonderful. Good for you.

So now you've got to pay taxes on it. And then what was your net? What are you going to be driving? So I have a beater car, and I work remote. So I work from home. So I also have access to a family car but i have a beater that i planned on driving until um i figured something but so you have 34 000 and you have how much in your account 34 000 in my checking account okay and you're all your debt is 28 yep student loans wonderful pay it off okay you still got six even with the 1500 tax bill coming up and the 1500 tax bill is only

is 14 months away okay if i contribute to my if i contribute to my retirement could i bring you down that way? Yeah, I wouldn't worry about the taxes. I'd just be going. I just experienced a unicorn moment. I made money on a car. I'd just be so happy I did that. I'd pay some taxes. No, I wouldn't try to worry about limiting the tax burden.

Let's just go be smart. Wow. We'll be right back. George Campbell Ramsey personality is my co-host today in Chicago. Carly's calling, and it says on my screen, you're debt-free. Congratulations, Carly. Thank you very much. So how much have you paid off? I have paid off $68,000. Good for you.

And how long did that take? It took me,000. Good for you. And how long did that take? It took me five years. Good for you. And your range of income during that five years? Started with about $65,000 was my income then when I started, and now it's $96,000. Cool. What do you do for a living? I'm an architect.

What kind of debt was the $68,000? It was my student debt. All right. All right. So why did it take you five years to do this? Wow. Well, that seems like it took a long time. It did take a long time. I live by myself in the city of Chicago. It's not the cheapest city to live in and do this on my own. So, but I chipped away and just kept at it. And, you know, in it, I stepped back getting a smaller apartment, not as much. So, did what I could. I had to buy a car cash in the process. So, and then with COVID, not making overtime.

That's why it played into not paying off as quickly as I would have liked. But praise the Lord, it's done. The good news is you stayed with it. Because I mean, that's pretty incredible. You just kept chipping away. Yeah, I kept chipping away. That's right. Were the student loans the only debt? There was credit card debt as well as some medical. Ah, okay. A little bit of everything there. A little bit of everything. What got you on this journey five years ago? How did you get connected to us? Sure. My older brother and his wife, they got married 10 years ago. And in that process of getting married, they went into it debt-free, paid for their wedding cash, and it just was a huge inspiration.

My brother then led classes at his church with the Dave Ramsey approach and the baby steps. And I went to him, and I was like, I need some help with, you know, just seeing the mountain of debt that I had. And I was like, I do not want to continue to have this as a shadow behind me and over me. So how can I get on it? So he helped me through, obviously, the steps that Dave Ramsey has laid out. Wow. That's really cool. Good for you, Carly. Well done.

It's rare that that works, where you lead by example and you went, yeah, I want to know how to do that. Exactly. And show me the way. You were willing to take that. Exactly. And now today you're leading by example by sharing your story with everybody else. What do you tell people the key to getting out of debt is? Stay with it and be disciplined and make a budget.

Okay. very cool. Good for you. Thank you. How does it feel to be free? It's, you know, now I paid off my last student loan in November, and it has now hit me where in my budget I'm seeing all that go into savings, and it's remarkable, and I give all the glory to the Lord. Now it's hitting me of just like wow i don't have to worry about any of those payments anymore so

very very cool yeah very cool well done kiddo well done i'm proud of you i'm guessing your brother was cheering you along all the way he was he was my first call after i paid my last payment in november that's right how old are you um i'm i will be 40 in april awesome and not a payment in the world making 96 000 life is good that's right thank you good job really good job very proud of you very proud of you great work great work we've got a copy of baby steps millionaires for you coming that'll be the uh next chapter in your story for sure how ordinary people build extraordinary wealth and how you can too and we'll send that on out to you and also send you a copy of the total money makeover that you can give away to someone and interrupt their process like your brother did for you thank you very much good job car job, Carly. All right, Carly in Chicago, $68,000 paid off in five years, making $65,000 to $96,000.

Count it down. Let's hear a debt-free scream. I'm debt-free! Yay! Yay! Well done. well done man that's incredible i'm so proud of you janelle is in cleveland hi janelle welcome to the ramsey show hi dave hi george can you hear me okay absolutely what's up um my husband and i are 65 and our kids are 32 and 30 and i don't know when to tell them how much money we have now now um well the only reason i'm hesitating is because it's $1.5 million. Yeah?

Are they misbehaving? Oh, no. No. Why do you think this knowledge will bring harm? Probably the way i grew up i didn't know anything about my parents finances until i was gosh probably my dad died 55 maybe i mean my parents just never talked about it i never asked them right um yeah lots of parents don't talk about money or sex and then when their children grow up they're surprised to find out they had both well they're both married and my daughter's having a baby in about three days so i think she knows about that one down one to go i wasn't talking about her sex i was talking about yours but yeah i know oh my gosh yeah I think you sit down now. You know, when I had this conversation with ours, they were just coming out of college.

I didn't want them. I wanted them to have the maturity to be able to handle the discussion, the emotional and the spiritual maturity. And we're a family of faith. And so the conversation started with this. As for me and my house, we serve the Lord. And so the information I'm getting ready to explain to you is not you hitting the lottery because you are not inheriting the money. You're inheriting the responsibility to manage the money for God. And that's how we started the discussion, and that's still how we have the discussion to this day.

They've yet to inherit any money, but they know what our wealth is in detail, and they know exactly what's going to happen to every penny of it. We have a big meeting once a year with our leadership team at our office and with our kids, and we go over every piece of real estate. We go over any of every piece of real estate we go over uh you know any of the wealth that is there and exactly how the will remind everybody how the wills and the trusts all work because it's kind of complicated and um you know we just have a review of this and this

is a transaction so long ago they got past the emotions of feeling like they hit the lottery well i guess i'm wondering why why why do i what's the purpose in it because you can teach them to have the proper spiritual and financial stance on this while you're alive otherwise you don't know what the reaction is going to be and if you get a negative reaction you may want to adjust some of your inheritance okay because we yeah we don't leave money to people in our family if they're misbehaving because we don't want to finance misbehavior with god's money oh no no i wouldn't do that i know but how about their how about their son-in-laws or our son-in-laws same thing listen if it's going to affect the if the information that this money is there is going How about their son-in-laws or our son-in-laws? Same thing. Listen, if the information that this money is there is going to affect them,

how much more do you think the money is going to actually affect them when it comes out of left field and there's no time to emotionally process it? Oh, by the way, we're also processing the death of a loved one at the same time so the so you think the son-in-law should be included in absolutely they are at my house because they may they're they're their family they're not necessarily going to actually personally get the money but their spouse is and so you dadgum right and you get to speak to all of them about what this means to you and and how we you think they ought to view this and that we're not going to allow you to feel like you can put push the car up into neutral because this is coming you know we can have all kinds of good discussions and all kinds of teachable moments. Our scripture of the day, Proverbs 16, 8, Better is a little with righteousness than great revenues with injustice.

Mother Teresa said, It is not how much we give, but how much we love we put into giving. But how much love we put into giving. That's it. I said it backward. Open phones at 888-825-5225 george camel ramsey personality is my co-host today jackie is with us in houston texas hi jackie what's up hi dave thank you for answering my call sure what's going on hello hello what's going on? Yes, I would like to know if we should sell our truck. All right.

How much do you owe on it? It's $28,600, and I got an offer for $41,000 something from the dealer. Wow. And what's your household income? It's about $90,000. And how much other debt do you have? $81,000. Yes, I would sell it.

I would sell it. You know why? Let me give you how the tools I use to make that decision that quickly. Okay. Tool number one is you would never want to own because cars go down in value until the last three months. And they go down in value. You don't want to own things with wheels and motors that total up to more than half your annual income. And yours do when we put your other car with it.

And that's rule number one. And rule number two is, can I be debt-free, not counting my house, inside of two years and keep the car if we love the car? In your case, you could be driving a $9,000 car after you sell this pretty easily, have no car payments, and be able to work on the rest of this debt and be done. And so I would get rid of it. What do you think, George? I'm in the same boat.

I'm usually a fan of selling, especially in this market, when you can get that much for a truck, $41,000. They just write you a check, and you're out of this debt, and you can tackle this next debt. And you can upgrade and car later. This is not a forever thing. So I know it's not going to be fun to drive around in your $9,000 car, but it's not forever. You're going to be out of debt in 18 to 24 months. You've got $90,000 income there,

and you had, what, $83,000 left on the debt? So you could pay that off in two years? Yes. Yeah, basically I'm making like $12,000 if I sell it because I only have $28,000 left on that truck. Right. So we're actually thinking of selling it. Yes.

So I can put a big snowball on it. Yeah, buy you about a $10,000 car and put a couple thousand dollars towards the debt snowball and then just attack. But the big thing is you got rid of this huge payment. And it's $30,000 or $29,000 of your 80. Is that outside of the 80? We actually have two cars. We actually have two old cars.

Oh, so you've got another car you can drive and throw the whole $10,000 or $12,000 at it? Yeah. On top of getting rid of $29,000. But is the $29,000 debt included in the 80 number? Yes. Okay. Oh, great. Yeah, so now we're down to $50,000 minus $10,000.

We're down to $40,000. We cut your debt in half by doing this. Boom, you're doing this in a year. Yeah, and we're going to have another $3,000 cash coming in. So, we're throwing that into that, too. So, basically, we're going to finish the first $49,000 soon if I sell this truck. I would sell it. I'm excited for you guys.

This is awesome. Congratulations. Very cool. Here's the thing. It's a this truck. I would sell it. I'm excited for you guys. This is awesome. Congratulations. Very cool. Here's the thing. It's a stupid truck. You can get another stupid truck. I've had a lot of stupid trucks. I like stupid trucks.

You got a smart truck now, though. It's a stupid truck. They're all going down in value. It's a wonderful truck. It's a Raptor, and I love my truck. But it's not a, you know, I can get another one. I can get another one. You can get another one. You know, it's not the uh it's not a you know i can get another one i can get another one you can get another one you know it's not we we treat cars like somehow the like they're like like they're a diamond and you can't you know there's there's only one and you can't get

another one they're everywhere you can get your other car i mean people get really sentimental over their vehicles well now we because it's a large purchase we act like it's harder to get in and out of them in and out of a deal than it is all you do is just go buy one i mean it's not it's an hour of your time go buy another one you know and get rid of that one it's not it's not that big a thing so uh you know the only thing you got is the licensing and transfer fees and that kind of stuff that'll get you but but you know so you don't want to be jumping in and out every two months. But, you know, I bought a car, a truck. Man, dumb. I kind of impulsed it.

I liked it. I went on it. It had these loud mufflers on it, redneck. I loved it. Was this back in the day or was this yesterday? No, this was not that long ago. This was three or four years ago. Okay.

And I just found the truck I liked, and I just bought it. And traded a Raptor I had at that time in on it. Or I sold the Raptor or whatever I did. And then I didn't like the truck. And I'm driving this thing for like six or eight months. And every time I got in, I didn't like the truck. I just hated it. And I finally went, Ramsey, you're an idiot.

Sell the truck. You don't like it. It's just a truck. You're not stuck. And so I sold it. And I got another Raptor. Now I'm happy again. You don't like it. It's just a truck. You're not stuck. And so I sold it. And I got another Raptor. Now I'm happy again. You know what I mean?

It's just not, you're just not stuck in these things. You can, you know, you've been driving that Honda for 5,000 years. It feels like it. That Honda needs to go. The bumper's hanging off, Dave. I'd be embarrassed if you saw it. George, you got more invested in your French Bulldog than you do in your Honda. That's true.

When your French Bulldog is worth more than your Civic, you know you're a hipster. There it is. You might be a hipster if your French Bulldog, your designer dog, is worth more than your car. Your dog shouldn't be more than one quarter of your income. Your dog should not be more than one quarter of your income. You have new parameters and principals, thanks to me. That's, yeah, whole new hipster principals.

But yeah, that's the same thing. It's time, we were, we've been talking off air. He's getting a new car. That's why I can, that's why I can kid him about it. Y'all don't see, I'm not shaming George.

No. George is easily, not easily shamed, by the way. When you have no shame, it's hard to do. George is, he's, he's, he's riding that, rocking that Hondaonda with great but

but doing debt-free scream next week that's right you'll see where my my priority we'll see we'll see what happens here got a debt-free honda a debt-free bulldog and a debt-free everything and we're going to talk about that next week it's going to be a big week so uh in the middle of all that we can get uh we're gonna have to find george car. Yeah. I'm hoping Dave just gets sick of it. What kind of car do you like? Are you going to buy me one? I like where this is going. There was no intention of that at all.

I think technically. I was just asking simply what kind of car you like. I'm also not going to buy you a dog. I'm so boring and pragmatic. I'll probably just get a nicer, newer Honda. That's the truth. George. I know.

I just don't understand cars, Dave. I didn't grow up in the same. You don't have a thing for them. It's not like a car that gives you a little excitement, a little zip. I've been in enough fender benders that are my fault that I'm less excited about getting a shiny new car. So your lack of confidence in your driving ability has

dissuaded you from getting a good car. It's my wife's lack of confidence. Oh! Now we're getting to it. Yeah. We need Dr. Deloney in here quick. This is turning into a therapy session. Quick, get John Deloney on the phone. Oh, my goodness.

We've got to dissect this here. All right. So, yeah, we're going to have to work on this, George. We're going to have to think about what kind of car. What would George look good in? Ooh. Like a monster truck? I think if I get anything that's lifted, as high as you can lift it up.

I want a ladder. A little step ladder to get up in it? I want to climb up into that truck. A little ladder that rolls out? Those little rope ladder things that roll out? Yeah, with an underlight LED kit, you know? Just purple lights. Oh, definitely.

The change while you drive. Yeah. Yeah, that's you, George. I mean, at this point, I deserve a clown car. Just the smallest, you know, like a Prius. No, no, George. Like John Prius? No, no, George. Like John Deloney? No, George.

No, no, no, no. Okay. You care about me too much to let me drive a Prius. Friends don't let friends drive Priuses. Yeah, this is... No, I... George, you need, like, a real car. All right.

You might be a Tesla guy, though. Yeah, yeah. You might be a cool Tesla... But I can't fathom spending that much. I mean, Rachel's a cool Tesla girl. I'm not cool enough for a Tesla. The price point on the Tesla still feels steep for what you're getting. Okay.

That's how I feel about it. Spending $50,000 on a Tesla, I don't know. Okay. The ROI and the electric saving, and then having to stop on a road trip. Well. You know, that part stresses me out. But the good news is you can plug in here at the building, and I'll pay for your fuel. That's right.

Fun fact, if you work at Ramsey Solutions, we've got electric spots ready for you. And I don't have any gas tanks out here for the rest of us that get burned gas. So this is... It's unfair. I'm not treating employees the same. I should probably be sued for that. Oh, wait. Give it time.

Too soon. Too soon. Yeah, there's Tiny, one of our team members, driving his Tesla out there. He's cheering, saying, thanks, Dave, for the free charge. I thought Tiny was driving a truck. He's got both. Tiny drives a Tesla? A guy named Tiny drives a Tesla. Think about

that. It'll come to you. Okay. Ah, well, that puts this hour of the Ramsey Show in the books. George Campbell, Ramsey personality, my co-host James, and Austin in the booth. I am Dave Ramsey, your host. We'll be back with you before you know it. In the meantime, remember, there's ultimately only one way to financial peace,

and that's to walk daily with the Prince of Peace, Christ Jesus. Hey, guys, this is James, senior producer for The Ramsey Show. Did you know over 18 million people listen to The Ramsey Show every week? And a lot of those people listen on one of our 600 plus radio stations across the country. To find a station near you, head to theramseyshow.com.