The Ramsey Show - App - You Can Do Work You Love AND Make More Money at the Same Time (Hour 1)

Episode Date: December 8, 2021

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Live from the headquarters of Ramsey Solutions, broadcasting from the Dollar Car Rental Studios, it's The Ramsey Show, where debt is dumb, cash is king, and the paid-off home mortgage has taken the place of the BMW as the status symbol of choice. I'm Dave Ramsey, your host, number one best-selling author and host of the Ken Coleman Show. Ramsey personality Ken Coleman is my co-host today as we talk about your life and your money and your career. Now guess what? You know where your money comes from? Your money comes from your career. And so this idea of you want to change your budget, you can also change the amount of money that goes in the top line of the budget,

and it changes your budget. So we're always talking about around here, Ken, the shovel and hole ratio. If you're in a $60,000 hole of debt, how big is your shovel to get out of that? That's your income. Do you have a $120,000 shovel, or do you have a $20,000 hole of debt, how big is your shovel to get out of that? That's your income. Do you have a $120,000 shovel, or do you have a $20,000 shovel? It's going to change how fast you get out of that hole. And so sometimes changing the shovel, getting a bigger shovel, sometimes it's extra work, sometimes it's a new career, but almost every debt-free scream, we ask them for a range

of their income, and it has gone up. I've never heard one where it didn't so i'm here today of course we're going to answer your life and money questions we're going to talk about that bigger shovel do you need to switch to get a bigger shovel or do you need to get promoted to get a bigger shovel we could simplify it to those two things it's that so we want to help you do a lot of people talking about both in this world today. Boy, oh boy. So jobs, careers, money, inextricably intertwined. Oh, yes. And we're here to help you with all of that here on the Ramsey Show.

Open phones at 888-825-5225. Starting this hour in Greensboro, North Carolina, Austin is with us. Hey, Austin, how are you? I'm good, Dave. How are you? Better than I deserve. What's up? So I'm about $3,000 in debt.

I'm 18 years old. But I bought my car for about $5,000, and I put two down on it. And I was wondering, I have a committed relationship I've been in for about a year and seven months now, and I was wondering, how can I get a second job to help me pay for that debt but still maintain a relationship with my girlfriend and i plan on starting college in the spring so i was just wondering the best way to tackle that well how much time are you spending with this girlfriend you 18 year old young man you how many hours a week are you spending with her uh i spend about probably like five to six hours a day or something, like just when I get home from work in the evenings.

But, you know, she's one of those girls that go to bed real early, like at 8 or 9 o'clock. So I feel like by the time I get home, she's already got sleep on me. Well, first of all, Austin, let me just tell you something. You are a fantastic young man. I think you've got a bright future. All right, this is super practical. Bro, you're 18.

I'm going to speak to you like the 47 year old that I am. I'm going to be a dad for a moment. You're 18. I love that you want to pay the car off. It's absolutely the thing that you need to make your number one priority. So get the second job any way you can. Do you know how many people, whether it's food delivery or right now, there are restaurants that'll pay you $15 an hour starting pay to wait tables in a chain restaurant. I'd go and I'd carve out three or four nights a week. Your girlfriend's going to be fine and go make the extra money, pay the debt off, and keep saving it up. You guys aren't married.

You're 18. Go work the extra job and pay off the car. Five hours a month. Five hours a day is just a little too much austin i mean i love his commitment to the young lady i think he's gonna be a great husband but dude you're not married pay the car yeah just take you just split split down the middle you can say four nights a week i'm you know i'll be over at the restaurant come see me she could sit in the booth and i don't want you to i don't want you to work but half a day 12 hours okay and so yeah but i appreciate

the question but yes pay the car off fast we're like a couple old men muppets here we are grumpy on that one that's yeah that's true all right ken is in plattsburgh new york hey ken what's up ken did hey guys thanks for taking my call there you are hey what's up? Ken, did I... Hey, guys, thanks for taking my call. There you are. Hey, what's up? How can I help? Hey, so my wife and I work as L&T on Baby Step 2, and I recently used the proximity principle to move

into my sweet spot of my company. Nice. I started a new role, but I'm underpaid, and I'm looking for tips. I start next month. I'm looking for tips on how to... You just started and you're underpaid, and I'm looking for tips. I start next month. I'm looking for tips on how to really start well. You just started, and you're underpaid? And you moved up? No, I've been with the company for four years. I'm starting a new role.

I know, but I mean, you started a new role that's underpaid. Correct. That's kind of weird. I'm about to. Okay, and why are you underpaid in the new role? Let's step back. Real quick question. Do you feel you were underpaid in the previous role? Yes. I was recently promoted in the previous role. All right. Okay. And so now you're in another role, and you feel you're underpaid for that role as well. So something, there's a disconnect. What's the evidence that you have? I'm not doubting you. I just need to understand how you're coming to the conclusion that I just said yes to a promotion and I feel I'm underpaid. What's the evidence?

Research. So I looked at the data from the Bureau of Labor Statistics on what that role is typically paid, what the company is reporting they pay for that role, that range. Okay. And it's definitely on the lower end. Okay, so you're on the lower end of the range. Are you salary or hourly? Salary. Okay. What would be how much more money would have made you feel good and you wouldn't be calling us today?

How much more? Real number. $20,000 more. $20,000 more, and yet you said yes to this. So, honestly, I'm trying to dive in here. How can we help you today when you just said yes to a job that going into it, you've got a bad taste in your mouth because you think you should be making $20,000 more? Why would you say yes to that?

Because I was recently promoted, and that's what they offered. I understand. So it's a lateral move. Right, but you didn't answer my question, because you've got some bad psychology. Would you agree with me? Yes. You don't feel good about this. So how can we help you?

What's your question specifically? Because I feel like you've already said yes, so here's what your options are, as I see it. Because I'm excited about the opportunity, so I'm trying to demonstrate that I'm worth more. Okay, so. That's really what's making me want to go ahead with it. So you took it as a perspective.

I'm going to take it. I feel like I should make more, but I'm going to take it because I see the opportunity to make more. Have they made that clear to you that there are some things you can do and a promotion, and you see a track where you're going to make more money in the near future yes i do all right then so then you got then you're not underpaid then you're not underpaid you said i'm going to take a chance on myself and bet on myself so now you got to go all in yeah you just got to go do the things they said to do in order to get the more pay get the extra pay so yeah that's the thing so you know you didn't you're you're temporarily underpaid but that's a whole different thing than saying i'm underpaid

and because you're not underpaid you're not and that's the number one thing the number one homework assignment i'm going to give you is you got to change your mindset the way you said it to us is completely wrong we had to dig into it here's the new change i just took an opportunity that i believe is going to pay off for me and so i'm going to own it. Here's the new change. I just took an opportunity that I believe is going to pay off for me. And so I'm going to own it. So here's what you got to do. You better be super clear on what a win looks like. If you don't know now, you better sit down with your leader day one and go, how do we say that this is a win? How do we measure against that? And then you better go do that. You better have an attitude for the future or else it's not going to play out.

You're going to be focused on how little money you're making as opposed to how much you could make. I took a pay cut or I took a job making less than maybe I should so that I have an opportunity. It's different. It's a different attitude than I'm underpaid. I'm underpaid sounds ungrateful when you just accepted the job. Folks, having an ID theft protection plan has just become a necessity in today's digital world. For you and your children, the risk of being a victim is higher than ever. With all of these devices and time spent online, not to mention the scams and hacks occurring every day, it really is just a matter of time before you become a victim.

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We run best ofs between Christmas and New Year's, for those of you who don't know. And our last live show is always our giving show. And we want to highlight generosity. So if you've been the recipient of some generosity, or maybe you were generous, and you had a cool experience with generosity on either side of the equation, we want you to tell your story on that show. We have three hours of a giving show on December the 22nd. So let us know if you're out there and would love and would participate in that. I want to hear your stories and inspire other people to generosity because it is the most fun you have with money.

So how do we get in touch with you? You go to RamseySolutions.com slash ask. Put giving in the subject line. Go to RamseySolutions.com slash ask and put giving in your subject line. And Kelly and the team will get in touch with you we'll put you into that first deal now we all know the story of the tortoise and the hare and it's of course one of our favorites around here slow and steady always wins the race but we often overlook the reason for the hare's downfall he didn't lose because he was slow he lost because he took a nap

and he didn't stay on task he chose to put off what he knew he should do in favor of what he wanted to do adults devise a plan and follow it children do what feels good so if you're an adult if you're a tortoise out there we know how hard it is to keep pushing fighting and hacking away at your debt especially when you see all the hairs around you quitting their jobs deferring their student loans financing fancy vacations wouldn't it be great to get a boost this time of year well that's what the ramsey christmas cash giveaway is all about this year we're giving away up to five thousand dollars and you can enter to win at ramsey solutions.com slash giveaway entering every day to increase your chances of winning

and for an extra dose of motivation time for new, our team's featuring a new deal every day this week. Today, you can buy Christy Wright's new devotional book, Living True, 40 Days to Get Back to You. It's on sale for $10, and it's a great devotional. This will make the perfect gift for the women in your life. Make 2022 your best wealth-building year yet. Shop our one-day deal at our online store at ramseysolutions.com. Jackson's in Salt Lake City.

Hey, Jackson, welcome to the Ramsey Show. Hey, Dave, can you hear me? Yes, sir. Thanks for having me. Sure, what's up? So I have a little bit of a dilemma. I made more money than I thought I was going to this year, and so I ended up maxing out my Roth 401k and both my Roth IRA as well as my wife's Roth IRA, but my income is looking like it's going to be around $230,000. I had a really good

queue for them in sales. Good for you. So I'm wondering what I can do. Well, your 401k is not affected by that, but only the two individual Roth IRAs. Who have you got those IRAs with? So one is with, well, actually, they're both with Fidelity. Okay. Just get in touch with Fidelity.

They can walk you through it. You've got to undo that transaction because you can't go straight into a Roth making over 200K, as you have already discovered. What you can do, though, is go ahead and just set those up to be an after-tax traditional IRA. And you can do that, and then after the first of the year, you can roll them to a Roth. And that's after the first of the year, you said? That's called, yeah, but you've got to move them to an after-tax first. Move them to an after-tax so you're not going to get any penalties or any problems anyway because you haven't paid any taxes.

And, you know, the income is taxable now, and it was going to be taxable when it went into the Roth, and it's still taxable, so it doesn't affect your taxable income either way, but move them into an after-tax IRA, and then you can roll them into a Roth from that after January 1. This is the last year you can do that. That's called a backdoor Roth IRA. Biden administration in the latest round of legislation did away with the backdoor. I'm surprised it lasted this long. It's been there for many, many years,

and everybody kept talking about closing the back door. The purpose was, you know, it was a workaround is what it was. It was a legal way of doing a Roth when it didn't meet the guidelines. I've done an after-tax and rolled it over every year. I've done a back-door Roth every year, and Sharon has too. We'll do our last one this year, and then we'll just keep smiling and move right along uh i have to ask chances that that ever reopens no never again no it should not have been there it was an anomaly right in the law the intent of the law was not to allow high income earners to do roth iras that was the intent of

the law and so um unless somebody just came along and said, oh, it's okay for you to save money now. But that would be like a novel thing to happen around Congress. Or let's let wealthy people actually get tax benefits too. Oh, no, they're evil. They must be punished. I did it. I revealed that I'm a capitalist pig, David.

Yeah, we knew that. Marshall's in Tulsa, Oklahoma. Hey, Marshall, what's up? Hello, Dave. How are you doing? Better than I deserve. How can we help? Yes, sir. I called the previous show to speak to Ken pertaining to a job question. The long and the short was I was laid off during COVID. I currently need to get out of debt and hesitant to go back to my old industry

because I want to make more of an impact and help people and then have the money to be able to bless others. Okay. I didn't know if there was any guidance there as far as I can go back and work for a corporation and make good money, but I feel it really doesn't help a bunch of people or make more of an impact in either community or society. Okay, so how long have you been laid off? Are you still laid off or are you in another position?

I am still laid off. How long have you been laid off? Since March of 20. I had started a couple of different ventures and haven't had success with them. Okay, let's talk about it. First thing we need to do is we need to get stable. And when we get stable, then we can start looking towards what do I want. How are you paying your bills?

Day trading. I know that's not a good one but um you know breaking even or you know making the the minimums there and then uh real estate um referrals and stuff how quickly could you get back into your industry you started off the call saying i could get back in my industry how realistic is that probably two weeks okay that's your first move let's go get a job let's go get back in the industry i know it is not that desired uh we'll get to that in a second but you need to get stable and stop playing with fire you need to get some mojo back too you know like let's get that shovel moving again and then let's start to go okay where do

i really want to go do you understand what i'm saying yeah you're not going to this is this is all emotional and mental right now you know my concern is not helping you discover what you want to do i mean i can give you some tools i'm going to give you some stuff to do some to do some introspection and get some ideas but you first need to understand that you're making excuses for why you aren't working by saying well it's just not work that i love and i'm not picking on you i'm just going to be really honest with you it's a big giant excuse and i love the fact that you called that you want to discover work that matters deeply to you but many times that's an excuse dave to kind of go well i'm out here and i'm floundering because i don't want to go back here

no we do what we have to do so that later we can do what we want to do. And I want him to get back in and get hired. And what I'd love to give him is, let's give him two things. Let's give him a get clear career assessment, 20-minute assessment. It's like me interviewing you for 20 minutes, and you're going to get a really good detailed report with a purpose statement that will point you to many different jobs in the marketplace. The second is my new book the best selling from paycheck to purpose it's the guide up the mountain once you discover the mountain so once you take those two resources and dive into them you'll get some ideas but he's got to get stable first and stop making excuses

for why he's not moving forward absolutely yeah you're not paying the bills and that's led you to doing some silly things that are going to get you in serious trouble so you're much better off to just stabilize and go from a stable platform than from day trader to failed idea to failed idea to day trader to failed idea to failed idea that's not going to lead you into anything except trouble that's what that whole mess is and that's um oh that's scary that's scary you need to get in a calm situation this is the ramsey show We'll be right back. Ken Coleman, Ramsey Personality, best-selling author, is my co-host today. Open phones at 888-825-5225 megan is in trinity florida hi megan how are you hey good dave how you doing better than i deserve what's up merry christmas i have

a christmas question for you okay so i'm uh we are baby stepfathers four five and six we are bsms we're about six months shy of paying off our house i want to buy my husband a really nice christmas gift what is that what do we do well i want to get him golf clubs like three thousand dollars now okay and so i'm wondering like what do we do as far as transparency you know i don't want him to know about it don't tell him aren't you gonna have those if you're gonna buy a nice set of golf clubs, aren't they going to be fitted? Well, probably, but if I just buy like the certificate to give him on Christmas Day or something like that. I got an

idea. Or just in general. Dave and I both love golf, so we'll tag team this. So Dave's right. He's going to want to be fitted. These are really nice clubs. I say get him a really nice golf bag, one of the stadium bags that'll stand up on its own, like tour level, and then you kind of put some kind of note or whatever your creativity would be

to reveal why you've given him an empty golf bag. He's going to be excited about the bag, potentially. If you can get a hold of his golf buddies and they can do some research for you, that's one way to present the golf clubs and the fact that he's going to be fitted. Yeah, you don't have to prepay for them. Yeah. Okay. You can give him a box of golf balls with an envelope attached.

The whole thing. Get him an entire outfit, the bag, I mean, everything. I'm trying to get this guy more presents right now. What's going on? But, like, how does he go about getting me something and surprising me? Because I'm the one that does all the finances. Oh, I have the answer to that, too, Dave. Because Stacy handles most of the administrative stuff. Cause if you know me,

you know that that's a good thing. And so every year when I get her, her big thing, we have an agreement, we have the budget for our gifts anyway. So that's all been cashed out until we've got that. And so I said, Hey, I need you to stay out of the account for a day or two because everything's planned out. And I just, hey, I need you to stay out of the account for a day or two because everything's planned out and I just don't want you to see it. And I handle it that way and she honors it. It's not that difficult. You guys trust each other. Yeah, well, you guys trust each other. You're enjoying accounts.

You say, hey, stay out of the account for a couple days. Perfect. Thanks. Easy enough. There it is. Boy, I like those calls. I was getting this guy clubs, a golf bag, shoes, the whole nine yards. I kind of like that.

You're more about the outfit than the actual golf. Dave knows too much about my golf game. This is the fact. I'm the guy that shows up on the first tee if you've never played with me, and you go, oh, he's going to be pretty good. One swing later, you go, oh, it's about the outfit. This is true. I have to own it.

Would you like to hit a breakfast ball? Casey's with us in Milwaukee, Wisconsin. Hi, Casey. Welcome to the Ramsey Show. Hello. Thanks for answering. I just had a question. I have a job interview today

and probably like 20 minutes or so. And I was just wondering, um, when do I ask about like the salary and the interview process? So I know that a supervisor, one of the supervisors interviewing me and he told me what the pay should be for the position but when i looked online it said a different pay than what he had told me so i just wanted to figure out how to navigate that yeah is this your first interview yes yeah do not ask about it in the first interview if it's something appropriate that they're going to bring up in the first interview then you can ask questions when you get to that stage and in any kind of normal healthy interview process there'll come a time where they make you an offer at which point you can ask questions when you get to that stage. And in any kind of normal, healthy interview process,

there'll come a time where they make you an offer, at which point you can ask any questions around the offer. But if you know him well, that would be the one asterisk, Dave. It feels like because he knows him and because he's already mentioned it to you, you could say maybe when the interview's done, go, Hey, you mentioned this in our last conversation, and I was just doing some research on the company online. I saw it was a different thing. What's the difference in that?

And just kind of maybe because you know him, and if you feel the interview went well, I would think that's an asterisk for me on that one. What do you think about that? What was the pay you were told, and what was the pay online? The pay he told me, so it's salary salary position so it'd be about 900 a week and i think online it said like 750 800 i think it said 800 on mine so it was about a hundred dollar difference a week okay all right it's five thousand dollars difference a year it's worth knowing the difference on it um yeah but um but is that does that a deal breaker either way

um i'm so i'm going to this job from a job that pays more but this will give me a lot more Yeah. But is that a deal breaker either way? So I'm going to this job from a job that pays more, but this will give me a lot more work-life balance. So I'd rather not take that much of a decrease. Okay. So it is a deal breaker. Yeah. And so, yeah, I think you bring it up towards the end of the interview. If the interview is going well and you feel like it's heading on, you know.

Yeah. of the interview if the interview is going well and you feel like it's heading on you know um yeah but if it's not going well that just the fact that you're preoccupied with the income might be enough to throw you out okay yeah if the first thing out of somebody's mouth in an interview with me is how much do you pay and what are the benefits i figure they're coming here for what they can get rather than what they can give yeah And I want people that add value that are not takers. And so if the first thing, the first three minutes of the interview, all you want to talk about is how much you're going to get paid, that's a sign you're coming to collect money, not coming to add value. And that will end the interview process if it's with me.

I'll be kind about it, but I'm done. That's it. Well, you do have a button that you push, and we don't know where the chair drops to. It's eject, yeah. It just disappears. They drop into the golf bag. There it is.

There it is. It comes back again. John's with us in Sacramento. Hey, John, welcome to the Ramsey Show. Hello. Hey, how you guys doing? Great, man. What's up? So, I have a question. I just started listening to you about a month ago,

and I just sold my house and got some cash. I just don't know how to navigate this cash or where to put that towards. Okay. How much cash did you get? About $140. Good for you. Gained debt other than that house? No debt. Good. Okay. So, what's your plan with the $140,000. Good for you. Gained debt other than that house? No debt. Good. Okay, so what's your plan with the $140,000? What are you thinking you're going to do? As of right now, I'm not looking to buy a house anytime soon. I don't have no retirement. I want to have a savings for my daughter for her school. Okay, so why are you not buying a house anytime soon?

I just feel like I don't know where to settle yet. If you know what I mean. I just don't want to stay in California long term, but my wife is finishing up her nursing school here, so we don't really know where we want to be yet. Cool. When will she be finished? She'll be finished next year in May.

Okay, good. So you need to park it somewhere where you can get it sometime after May, right? Correct. Now, you can put it into a CD if you want, or you can put it into a low-risk, very calm mutual fund, like a growth and income stock mutual fund with one of our SmartVestor pros. That would be okay. I mean, there's a lot of places you can park it, and that's really what you're wanting to do. You do need to carve off a portion of it and put it in the money market

and call that your rainy day fund, your emergency fund at three to six months of expenses. And as far as your retirement goes and your kid's college goes, those should be coming out of your monthly budget you ought to be saving 15 of your household income into retirement ongoing at this stage of the game you have an emergency fund in place which brings you and you're debt-free which brings you to baby step four 15 of your income going into retirement kids college is baby step five and paying off your house early baby step six but this money's for the next house purchase the vast majority of it anyway and it sounds like so i would just set it in a cd for a year 18 months and um or you could sit with a smart

investor pro click click smart investor at ramsey solutions.com and that'll help you get started on your investing, and you can pick out some calm mutual funds to park it in for 18 to 24 months before you buy. It'd be okay. Or you could do a little of both. It wouldn't hurt. That'd be another way to split it up and keep it going. The big thing you don't want to do is just leave it laying around without it being labeled something. You want to label on it.

This is future house money. Leave it alone. This is the emergency fund. Leave it alone unless there's an emergency. It's not a bass boat fund. It's not I found a cool car fund. It's not mama wants a new couch fund. This is your future house fund. Don't let it get dribbled away.

This is the Ramsey Personalities, my co-host today. Open phones at 888-825-5225. Casey's with us from Fort Worth, Texas. Hi, Casey. How are you? Hey, Dave. Hey, Ken. How are y'all doing today? Better than we deserve, man. What's up? Awesome. So I'm 19 years old, completely debt-free. I'm trying to figure out right now, so I i so i live at home i have a one thousand dollar emergency fund saved up but i plan on going to college here in about six years so about all the money that i make right now stop stop stop stop why are you waiting six years to go to college or six months six months oh i feel so much that makes more sense okay yeah yeah yeah

yeah so six months six months i'm planning on going to college. Okay. How are you paying for college? It's my parents. My parents have extremely blessed me. They've blessed me with paying for college, and they've also blessed me with sending me through flight school. Wow. So, yeah, I've been extremely blessed in that sense.

But, you know, they kind of told me, they said, you know, you can either, A, you can live at home with us and keep going to college online. I'm about to graduate with my associates from a community college this semester. And then I'm going to go finish off a degree in personal finance. Yeah. Next year. And so I'm just trying to figure out if I should start building up that emergency fund more and just put investing off to the side now now because I've just about maxed out my Roth IRA for this year. Yes. I'm just trying to figure out what I should do. Yes. You need a big pile of cash to ensure that you're able to finish your educational goals, whatever they are. I know mom and dad are paying for most of it, but to make sure that you finish because you investing in you is a better rate

of return than you investing in mutual funds. And that's not a philosophical statement. That's a mathematical statement. Your education will add more to your income than the mutual funds would have added to your wealth during that same period of time with that same amount of money. Okay. Yeah, that makes sense. And then another little question that I had is kind of like I was saying, my parents, they kind of want me to stay home and just continue doing school online. They see me as kind of going up to college being a waste of my money

when I could keep investing in it. So I'm just trying to pick out your guys' brain, what you guys think might be the best for me. Do you have the money to pay cash to live on campus? I wouldn't be living on campus. I'd be living off campus, but yes, I would. How would you do that? You told me you had $1,000.

So, I mean, I work right now. I work full-time. I'm also in site school and stuff like that. But by the time I plan on getting over there, I plan on having a job with the local airport as a flight instructor. So I should be making at minimum like 20-ish an hour, hopefully working about 40 hours a week-ish. The question I have is, are you planning to be a pilot

or are you planning to use that personal finance degree? I'm planning to be a pilot. Yeah, yeah, a pilot is the end goal for me. So it sounds like to me your mom and dad know that, and they're going, look, we'd rather you finish up online because you're really going towards the whole flight path anyway. And it sounds like you want the college experience. It sounds like that's really – there's no right or wrong here. It's what you want to do, and you shouldn't feel the pressure from mom and dad.

If they're going to pay for the school and you can pay for your living expenses, then I think you've got to do what you want to do and have that experience. All right. Yeah. What is gained by moving out? It's kind of, you know, it's nothing like I love my family life. You know, they've been great parents to me. They've blessed me, you know, unfathomably.

But it's just, you know, I've been living here for almost 20 years now. What is gained by moving out? What is it you're seeking? Independence, I guess, mostly. Okay, that's fair. That's a good answer. Yeah. That's what I was hoping you were going to say.

Yeah, yeah. That's what I was hoping you were going to say. Yeah. And so, I mean, if you're working 40 hours, you're a flight instructor at 19? Wait a minute, I just drove by that. For real? Yeah. Oh, yeah. Yeah, well, I'm not a flight instructor yet. I'm working on my commercial license now to where I can eventually actually get hired, and then I plan on going to a two-week course to where I can get my flight

instructor certificate, and then I'll be able to start teaching at that point. Because I'm guessing you started flight school at 16? I started at 8. I think I started at 17. I started right a little bit before my 18th birthday. Okay. So what does it cost to live in this apartment or whatever it is? So I'm figuring at the very, very high end, probably about $1,000 a month,

and that would include utilities and, like, everything like that. So it's a cheap apartment then. Yeah. Yeah, I'm going to have a roommate. He's going to be one of my buddies uh he's pretty financially uh smart as well you know he doesn't go and buy you know thirty thousand dollars on credit cards and an eighty thousand dollar truck right out of high school so here's what's running through my mind i'm trying to ask myself if i was your dad what I would tell you to do. How would I want somebody, or if it was me,

what would I do if I woke up in your shoes? I think I would move out. Let's run the math on this. How much more money? It's not about the money. Yeah, it's not going to make that much difference. And you can cover the money with the work, and you're taking the next step in your evolution as a man, or if you're a lady, as a lady, as a woman.

So in your case, as a man, to do this. And I think that's a good thing. It is. I think I hear. Something happens developmentally when you have to buy your own peanut butter and bread. Leave and cleave. There's something to that. Yeah, there's nobody to cleave to at this point.

I know. I knew you were going to say that. I got ahead on the marriage vows. But yeah, leave anyway. It probably cannot be justified in the short term financially and i would never tell you to borrow to do that but you've got it figured out and you've got such a math head on your shoulders and such a you know you're mature beyond your years uh emotionally just talking to you that's my opinion anyway and um so i i think you do this i thought if. I thought you were a wild child and you were just going to play beer pong.

I'll probably pull the plug on this. But I think it would be – it's not a math play. It's a life play to do this. Well said. You know what I'm thinking when you said that? He's not moving out to find himself. He's moving out to be himself. Woo!

He knows who he is. That was good. So he's ready to go almost tweetable as if any as if anybody nice is on twitter anymore yeah exactly all right august is in la hey august how are you hey doing great thanks for taking my call sure welcome my my wife and i are on baby step six. I'm in sales, and it's been an unusually fantastic year. So I've made a lot more income where I've maxed out my 401K, HSA, IRA. And so my question is – Are you still not to 15%? Pardon me?

Is that more than 15% of your income when it's all totaled up or less? It's at 15% right now. Gotcha. Okay. So I've been doing 15%. So now with this extra money coming in here at the end of the year, do I pay more on my house? Yes.

Okay. Because I was wondering do i take 15 of these additional bonuses that'll be coming in at the end of this year and carrying into next year to where i may be in the same situation depending on some parameters here's the thing i know by the fact that you tell me you've maxed out your 401k and your ira that that your income is well over $200,000. Yes, sir. And so given that, you have put a lot into retirement this year, and the little bit extra you throw on over on these bonuses into this house is not going to keep you from retiring with enough nest egg.

You're going to be fine. Okay. And that was my thinking is I just wanted to put as much as we can on the house and get that done. If you made $100,000 a year and you said, I don't want to put a full 15% in, I'd like to put more on the house, I would tell you, no, put 15% in. But you're making a couple hundred plus here, and it's right here at the end of the year, and it's just a small accounting slippage, and we're going to slippage that right over onto the mortgage.

I like that. Because either way, you're going to slippage that right over onto the mortgage. I like that. Because either way, you're going to come out just fine. So, good question. Appreciate you, August. All right. Ken Coleman, good hour. Thank you, sir. Of course, James and Ben in the booth.

Is that Ben? That's not Ben. Who's in there? Austin's in there. Yeah, he's got the hat and the glasses. Well, he's got his incognito thing going back there. So James and Austin in the booth. I am Dave Ramsey, your host, and we'll be back.

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