The Ramsey Show - App - You Can Prosper Regardless of Who Is in the White House (Hour 1)

Episode Date: July 15, 2024

Live from the headquarters of Ramsey Solutions, it's the Ramsey Show, where we help people build wealth, do work that they love, and create actual amazing relationships. Open phones this hour at 888-825-5225. Number one best-selling author, Ramsey personality, and host of The Rachel Cruz Show. My daughter, Rachel Cruz, is my co-host today as we answer your questions about your life and your money. Before we go straight to the phones, I want to make sure you guys don't think we're living on another planet or something. Obviously, we know that there was an attempt on President Trump's life on Thursday night

and lost a hero firefighter protecting his daughter and wife in the process, shielding them from gunfire at that assassination attempt. And everyone knows the details. We certainly are not Fox or CNN or anybody else. We're not going into the details. It's not what we do here. But we are praying for this nation. We're people of the book, and the book tells us to pray for our leaders,

even if we don't agree with them. And Trump is one of our leaders. He was a with them. And Trump is one of our leaders. He was a president. And Joe Biden is one of our leaders. He is the current sitting president. And not many things that President Biden does that I agree with, but it is my job to pray for him anyway. And certainly to not bring him harm. I can disagree with him and still honor the office and still honor the person

and certainly not engage in any kind of stupidity like some of the rhetoric that has gone on in the last 48 hours and really has gone on for the last several years. Some of you people are really too serious about what happens in the White House. If you'd concentrate half as much on what happens in your house, you'd be in a whole lot better shape because that's really the common denominator of success. and trade half as much of what happens in your house, you've been in a whole lot better shape. Because that's really the common denominator of success.

It hasn't got anything to do with those guys up there. Yes, they do some things that affect our lives, but I've had several of them try to ruin my life, and they hadn't pulled it off. And I've had several of them try to make my life better, and they hadn't pulled that off. And so I'm old, and I've seen presidents that were going to be the end of democracy, and they hadn't pulled that off and so um i'm old and i've seen them i've seen presidents that were going to be the end of democracy and they weren't and i've seen presidents that were going to be the second coming of jesus and they were not even close so um i mean seriously

people i think the problem is is that the level of anger has to do with the expectations of what the office can provide. And so treat these people like people. They have families, they have children, they have friends. I've got friends that are congressmen, friends that are senators, and the stuff that they have to put up with. The stuff that is mailed to this office at me into Ramsey Solutions because some of you are just out of control and you should not spend your money on Financial Peace University. You should spend it on counseling because you need it. You know, it's that kind of stuff. It's going on out there, Rachel. Oh, yeah. I mean, for sure. And I think it's just a level of the anger comes from a level of fear, scared of where the country is going to go on either side of the spectrum. But I think that that's the sobering idea is going back to, okay, what's

going on with my family in my home from the money perspective when my paycheck hits my checking account? What am I going to do with it? So there's a level of control that we can have in our lives. You can go to the polls, right? You can go and vote in November, and that's a choice and a level of control that we can have in our lives. There are, you know, you can go to the polls, right? You can go and vote in November, and that's a choice and a level of control you have. And then it's, you know, up to fate at that point of what occurs. But I think you're right. I mean, we, Ramseys and people that work at Ramsey

are all very passionate people. We have loud, arguing, fun discussions about things, but we don't wish death on people. Oh, gosh, no, no, no. I mean, I'll argue with you. It's really sad, yeah. The president of Visa, I mean, no, it's just the president of Visa. It's just a credit card. It's okay.

Don't go in credit card debt. It's stupid. And if you're a payday lender, you shouldn't be doing that. It just takes humanity out of a system. But I'm not going to suggest that the guy be taken out. I mean, that's just nuts. It's really sad. It's a sad.

It was a sad. Here's the thing. If you will concentrate on fighting ideas, that is a valid quest to argue about ideas. When you have to vilify or destroy a person because you disagree with their idea you've already lost the argument because you've lost the high ground you've lost the ability to argue your idea because you can't stay on top of the your idea loses ground so you have to attack the person and when you can't when you can't back up your philosophy when you can't back up your philosophy, when you can't back up your belief and have an argument about that, a healthy, a good, have a strenuous argument.

I mean, we yell and scream. We don't scream, but we argue in high voices around here sometimes because we're trying to figure out which play to call to win the Super Bowl. We're trying to figure out which product to put out there to help you folks next. And we struggle with that and passionately. But if your idea is so weak that you have to attack the person because your idea won't hold its own water, that's when you've already lost. And so then you've only got a bunch of people that drop to the lowest common denominator are the only people that will follow a person whose idea has lost but they're passionate about it you know it's just you've got to be able to argue on the points of merit and that's basic debate that's basic common sense it's basic wisdom and it's just it's sad it's a sad comment about what's going on in our country and how someone cannot look at the ideas represented,

the principles represented by different campaigns, and for that matter, the quality of the person that's going to implement those ideas. Can you stand with that or not? And that's, you know, if you think that, then go there. I mean, we've had arguments about that ever since there's been a president. Is the quality of the person good enough and um there's always been someone that said i mean the stuff that was written about abraham lincoln unbelievable the stuff that was written about jfk unbelievable and by the way you ought to look at jfk's policies and ideas

you want to see some conservative economic thought bordering on libertarian? Go read what JFK believed about economics when I was putting in place. It's very interesting for a Democrat. So, you know, these things, the pendulum swings, people argue and push through different things, and different people have different quality of reasons and reasoning, but this is out of hand so our vote is for prayer for this nation that's our vote our vote is for prayer for you and your house that you get your act together and in spite of who's in the white house not or not because of who's in the white house you prosper because if you're waiting on one of them to prosper your life,

you have a long wait. Your life's going to suck. Because government is not designed to make your life awesome. Sorry. It's not. Your cell phone has more power than your president to make your life awesome. I mean, you can push buttons and stuff actually happens with it i mean when you push buttons in the voting booth very seldom does

anything actually happen think about it i want to believe it does i love i want to believe it does but name me a time it did a couple of things here and there but nothing that i went oh everything's okay now i know totally yes I hear what you're saying. Yep. It reminds all of us to argue ideas. And you don't have to destroy people for your idea to win. Otherwise, your idea is not good. Oh.

This is The Ramsey Show. This show is sponsored by BetterHelp. All right, so I was born and raised in Texas, and I love the myth of the lone cowboy. You know, the guy who doesn't need anyone or anything. It's a fun story, and it's a lie. In our self-obsessed society, we're obsessed about our own diets, our own workout routines, our own jobs, our own social media feeds, everything. It's easy to forget that no one can do life alone. And I don't care if you're an introvert, an extrovert, or whatever you wanna call yourself,

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So you're just behind. And it throws everything off. You're always behind a day. I'm always screwed up. So anyway, I actually know when it happened. I just misstated it. Hey, do 15 or 20,000 hours of talk radio and see how many things you say wrong. So I'll make sure you get there.

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This is like Baby Steps Millionaires for $5. Building a non-anxious life with dr john deloney five bucks the get clear assessment uh with for ken coleman wow five bucks questions for humans couples edition now that's important five bucks all of these are best sellers for i don't we must have oh my, get our best deals. This is a deal. Summer Black Friday sale at ramseysolutions.com slash sale. Apparently, I need to work on Fridays to approve these things before I start reading them. But hurry, the sale ends Wednesday, July 17th at 1159 p.m. Unless Dave changes it early. Unless I change it before then.

I'm a little bit aghast at these wonderful prices. Oh my gosh. We've announced them, so we will stand by them. We're like Costco. early so let's change it before then i'm a little bit aghast at these wonderful prices but we've announced them so we will we're like costco costco hasn't like up to their hot dog prices and something else someone oh the arizona tea guy they don't up their prices uh because of inflation so that's what you're doing you're giving yeah yeah yeah that's true but the problem is they in neither case are they losing money so and, and anyway, all right. So, Gabriel is in Pontiac, Michigan. Hey, Gabriel, what's up?

Hey, Dave, thank you so much for taking my call. Sure, man. How can we help? So, I'm calling in because I have a issue where my mortgage is actually a lot more than what I bargained for. The loan-to- value is super high. I bought the home for 275 back in October of last year. And currently that's how much I have to sell it at. I actually have to sell it at 250 due to the fact that the 275 included the closing costs, all the concessions and all that good stuff.

So right now, I tried to have it rented out because I'm currently not living there. I lost my job a couple of months back, and I had to move up here to Michigan. Where is the house? It's in Tampa, Florida. Okay. If you lost your job in Tampa, Florida, why didn't you just go get a job in Tampa, Florida, dude? Well, the fact that I have to pay like $2.2K for the house and my other expenses, I needed a job that was able to pay somewhat what I could afford to pay. And it's a very blue-collar, dense area. I needed something that was more related to what I was going to pay. Um, and it's a very blue collar dense area. I needed something that was, um, more related to what I was going for career wise. What are you going for? Uh, I want to work directly with the mortgage industry. Uh, one of the biggest pain points is,

uh, the fact that since I got, uh, messed over on my, um, on my loan, I want to be able to learn as much as I can and hopefully work towards making money within the mortgage industry in the future. Oh, there's plenty of mortgages industry in Tampa, Florida. Maybe more than Pontiac, Michigan. Yeah. Based on the – well, Michigan itself has the two biggest mortgage lenders in the country, United Wholesale and Rocket Mortgage. Are you working for either one of them?

Yes, I'm currently working for United. Okay. What are you doing? I'm an underwriter. You're a mortgage underwriter? Correct. What were you making before? I was making about the same. I was working as an accounts executive for an insurance company.

What do you make? $55K. And you had a $2,200 house payment on $55K. Right. So there was the problem. It really wasn't even the job loss. It was just the stupid purchase. And you paid more for the house than it was worth?

Yeah, basically, I think once everything was said and done, I didn't really realize that if I'm offering $255,000 that I'd actually be buying it, that plus the closing costs, which I paid like $16,000 for at the time. Why? That was a stupid mistake on my end. Why? Did you pay a bunch of points or something? What's that? Closing costs on 275 are not $16,000.

You know that as an originator. What did you do? Pay a bunch of pre-pay a bunch of points or something? I couldn't tell you what the closing disclosure said. I'm pretty sure that that included the, I think, $6,000 down and then $10,000 toward the actual closing. Okay, that still doesn't still doesn't, okay. All right, so how can we help you? So, since I can't rent it out due to the fact that I bought a 6.1 interest rate, and people

in my area are renting out in their much lower interest at $1,800. I can't really break even. I'm trying to sell. I'm currently belly up with this loan. If I do sell anything like what I bought it for, on paper it shows $250. That's not including what I actually put down for the home or anything else. So I'd actually be cutting like a $15,000 loss on the home. So I just don't know what to do. But you can get rid of it and get it off your back right how can i do that well i mean you're talking about your down payment your down payment's just

gone it evaporated right okay so if you sell the house for 255 you owe 275 on it uh the loan was 250 okay so you know and you got on the market for 255 so now with real estate commissions and all you're going to be in the whole five or ten grand can you scratch together the five or ten grand uh i i think so but i prefer if there were any other alternatives there's not you have to pay the difference and get out of this so let me let me recap for you because i think you've uh made a couple of assumptions that are wrong in your whole decision making paradigm all right in october you paid retail for a house way more expensive than you should have bought making fifty five thousand dollars stupid i've done stupid too so i can say what stupid looks like. I know what it looks like.

I've done dumber things than this. But you signed up, you put your name down for a payment that was asinine making $55,000. Would you agree with that statement? Yes. And then when you lost your job, it exposed the stupidity. So the screwing of the mortgage company is not what got you in this mess. What got you in this mess is you paid retail for a house. Now you're going to turn around just a handful of months later and sell a house for retail,

which pretty much guarantees retail to retail. Five months later, you're going to lose money. And that's just the story. That's the story. It's not some big mortgage debacle. It's you signed up for a thing you couldn't afford and you are selling it very, very quickly and it has not had time to appreciate it all. So you're going to lose money. Write the check. And when I do something stupid, Gabriel, and I have done a lot of stupid. I've done a lot. This thing right here is not dumb compared to some of the stuff I've done.

I got you beat, man. I got a PhD in DUMB, all right? So I'm not picking on you, but I want you to own this. That's important if you own your part in this because you're acting like you're some kind of a victim. You're not a victim. You signed up for this. Now, when you write the check to lose money on this transaction that you, as an adult man, signed up for, put on the four column of the check stupid tax. That's what I do. When I do something stupid and I have to give money away because of it, I put stupid tax on there.

And I try not to pay the same stupid tax ever twice. And that'll get you set up to go win, my friend. But there's not a city. I mean, there's been a few times you could buy something for retail and a few months later sell it for retail. Well, and the $10,000, people are upside down on that on their car. Like, this is a house. So, if anything, you're getting, I mean, see it as a gift to get out of because you're

having to pay $2,200 a month in a place that you're not living. You have to get rid of it. Yeah. You have to write a check and be done with it because you're losing, you're going to lose more than $10,000 in about 20 minutes on this thing. So, you need to write a check and get out of this house as fast as somebody gives you a nice offer on it. Take it and go put the difference on a credit card. Go put the difference on a personal loan.

You've already got the debt. I'm just moving the debt. I didn't date Ramsey. I didn't date him. I'm going to debt. I just told you to move some of your debt over to something else. I got a really small amount of debt. $10,000 in debt rather than 255.

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We've paid off debts. We've built our forever home. We now have about over a million sitting in that stock, but I hate having all of our eggs in one basket. And I'm looking for some tools to diversify and set everything up for our kids, etc. Ouch. That's wonderful. I hate it when somebody gives me $3 million. Right?

Oh, man. Justin, how old are you guys? 45. Okay. So you're the guy with the rich uncle. I always wondered where you were. You know. Oh, my gosh.

Well, y'all have done so well already number one you've been very smart very wise i've been very smart so the person's still alive right correct okay so you've already discovered from your tax people that your basis to calculate your capital gain when you sell this is whatever they paid for it correct okay so in other words if you have a million dollars in stock left and they paid 500,000 or 400,000 for it you're going to pay taxes on the 600,000 gain correct okay all right as long as you know that then we're we're a step ahead you've done a really good job on this way to go and what which company is it in uh Apple. Oh, wow. It's a great stock. Yeah.

Yeah. No wonder. I mean, that stock's done extremely well. Well, that's cool, man. And you're very smart to not leave it all in one place, even if it is Apple. And I'm a fan. I don't own any Apple, but I'm a fan of the company, of the business and everything. They've done a wonderful job.

I mean, I own some mutual funds that own Apple, lots of them. So you're going to diversify it so that you don't, if Apple puts out a bad screen or something that stock tanks, you don't get caught, right? Correct. Very smart, very smart. Okay, so your plan is to sell it and do something else with the money after you pay your taxes, correct? Correct. So what do you plan to do?

I'd like to find some passive income opportunities as well as setting aside for retirement and, you know, money for the kids if they decide to go to college or trade school or, you know, in the future. I mean, you easily drop $50,000 a kid into a kid into a 529 hold of the kiddos uh five and seven yeah 50 grand and each of those you'll be done for college that's it that's 100 of it if you want to do that you want to save money for something else for the kids just save it in your name and you can do something for them later um okay if you want to help them with a house or something later in addition to college. That's very cool. And then passive income.

What do you mean by passive income? I mean, my wife works full-time, I'm part-time, and I also take care of the kids. So I'm just looking for ways to just bring in money, use our money to make money, essentially. Okay. All right. Using your money to make money may or

may not be passive income uh the people on tic tac call real estate passive income real estate's not passive okay no no it definitely yeah i own a bunch of real estate and if you go buy some real estate expect it to be active not passive so uh it's good it's a good investment but it's not something like you just sit and money shows up in your account mutual funds are pretty passive i don't do much with those except just watch the number come into my email inbox right perfect so i mean you can do some of that and if you want to buy a piece of real estate now there are types of real estate that are more active require more hassle and drama than other types okay so they're very um pat there are very low maintenance versions of real estate for instance you could buy a little warehouse on

what's called a triple net lease triple net means they pay the lights and water that the tenant they pay the insurance and they pay the taxes and they pay you rent oh, and they pay the taxes, and they pay you rent. Oh, okay. And they do the maintenance. So that's close to passive. It's about as close to passive as you can get in real estate. So a little warehouse deal with a triple net lease is a low drama type of real estate to own. The highest drama real estate to own is very high yielding, but it's a lot of drama, and that's lower income residential. Okay.

You make a lot of money on it for the money you put in, but it's a major pain in the butt. Yeah. And it's sometimes even dangerous. And I've owned both, both of the two things we're talking about. I don't own either one of those two right now. I would buy one of those warehouses if I found one. But anyway, that's the kind of stuff you're looking for. And then just take your time.

You've got time on your side. And, you know, the good news is you can liquidate this stock in 72 hours pretty easy. So until you decide what you're going to do with it i'd let it sit there correct yeah unless we've been doing for last year and a half i just just kind of getting to a point where i'm like okay we have all this here i'm a little worried uh about you know what we can do with it in a smart way you know to sustain things but but also how to do something. Rachel's husband, Winston, handles all of our real estate, and he does some real estate for he and Rachel as well.

So we're real estate people. We like real estate, but not everybody does. And I buy mutual funds. That's the only two things I do. Okay. And you do whatever you want to do. But those are two things that are long-term, conservative, not fancy. Yeah, and even, Justin, going and getting paid for a couple of rentals

and having that, that's kind of a medium way of going about it. Nice neighborhood. I mean, if you know what you're doing in real estate, I don't know if you are, flipping is great, but you have to have a team. You have to know what you're doing. I mean, it's a learning curve if you don't know if you are. Flipping is great, but you have to have a team. You have to know what you're doing. I mean, it's a learning curve if you don't know already. But there's, yeah. I have some friends in that, so they're familiar with it.

And that's something that's on my radar. But, you know, once again, not having 100% knowledge on it, it makes it a little more tough to just jump in. And I know there's a lot that goes into that. Yeah, and you could start with something small. I mean, even some stuff, you know winston's done i mean he got a house for like i don't know 80 80 000 i think down like in somewhere tennessee and put some money in and flipped it and it was great but it was the first time of like okay you know it's not like it's it's testing out the water to see okay do we enjoy this is this fun uh what did we learn but

like start small is what i would say but it but quickly that returned i mean it's it has shocked me over did real well well and and others i'm like it's just it is a it's a fun thing but again you have to love it and that's his job and that's what he enjoys and you know all of that but there's a sharp learning curve with it but if you can get get it and have the right people on your team. Take your time. Don't get fancy. Make sure you set the tax money aside because you're going to have a tax bill. And if you do all that, you've already done so many smart things. I trust you to do more smart things.

I think you're going to end up with a $10 or $20 million net worth as a result of this gift. It's not going to be long at all. Very, very well done done very well handled congratulations wouldn't it be cool to have an uncle or whoever he didn't say who it was family member just hand you three million dollars and i get what he's saying where he's like oh my gosh we have everything paid for what do i do now and like i work part-time i'm with the kids my wife works full-time but we're but we have a million dollars like how can we be living off that I mean like there is a feeling of like invest in mutual funds if you just drop the whole

thing in a mutual fund and then what and you live off the it might be 100 grand a year yeah and you just live off that return yeah pretty easy yeah pretty so give or take I mean might make 80 some years might make 140 some years yeah somewhere and that's a little bit of a different call when we talk about net worth millionaires usually it's tied up in your primary residence or in your 401k that you can't touch but when you have something that is so liquid i could i could hear him be like gosh i feel like we could have more freedom in our lives or be making money off this money right um so yeah so i hear you gabriel you know what that's what passive meant when he said yes yes It wasn't the tic-tac people. No, no, no.

I think it was just like, gosh, we have a million dollars. I ought to be able to put that somewhere and it ought to send me a check. Exactly. And you would say in that case, a mutual fund is what you would do. That's exactly what I'd do. It's what I've done. But yeah, in addition to that, I bought income producing real estate. In addition to that, you can have, and real estate will typically, folks, yield you more money than mutual funds will if you purchase it properly, if it's income producing real estate, but it has a lot

more hassle to it. Do not be confused that renters pay your payments. No, they don't. You pay cash for your real estate, but sometimes renters are renters because they don't pay. This is The Ramsey Show. Rachel Cruz, Ramsey Personality, is my co-host. Folks, you've been helping us out there. We appreciate it. We can continue to, and we continue to need your help. Well, how is that? Well, if you will click subscribe on the YouTube channel or follow or click or subscribe or follow on Spotify or Apple or Google Play or wherever it is you're listening and follow the show, it helps big time because those numbers push our show out to people who don't know it's here. And that helps our listenership, our viewership big time. We know you're doing it because our numbers are way up. Thank you.

And you can click share send a share send a copy the link send it to somebody whatever the format is there's a way to tell somebody about if it's talk radio we got 608 talk radio stations that carry this show every day all across america and thank you for that stations and if you're listening to one of those stations tell people where you're listening. Ann is with us in Lansing, Michigan. Hi, Ann. Welcome to the Ramsey Show.

Hi there. Hey, what's up? So my basic question is, is it okay for my mother-in-law to put her money into improvements on our property if we put it in writing that she can then stay with us rent-free for the rest of her life. I know you're not a fan of... No, I'm not a fan of this. Why would you want to do that? So my husband and I are in baby step two, so we can't really help much financially. We coordinated an FPU class, and my mother-in-law joined in that one. And in doing so, we discovered just how bad her financial situation really is. She's got a paid for house, paid for car, but nothing else except for about $1,500 in the bank. And that's about what she owes on property taxes. So... And how old is she?

She's 75. So she's living on social security? She's also still working part-time at about $1,400 take-home pay a month. Oh, good. Okay. Yeah. And so she's got about $3,000 or $4,000 a month to live on. Yes.

So she's doing okay now. Yeah, she should be. But she is, that's not going to last forever, and we'd like to have a plan in place before we are having to make decisions from an emotional place. Is she in not great health? I mean, if she's still working at 75, has she a young 75? No, no. She is, yeah.

She has already, like, she's already broken a hip. She's got two knees replaced. She was just out of work for about two weeks for some internal problems. She has trouble walking. She doesn't use a cane anymore. She's rehabbed from that. But she's not the most spry of people. And she's working at a women's homeless shelter where the folks there are under a lot of stress

and don't have the best conflict resolution skills, and she is not the most tactful lady. So there's a concern that she's going to push somebody too far Sunday and they're going to respond physically. Okay. All right. That's – okay. And your home is how large?

So we've got three bedrooms and a dining room that we would then convert into her bedroom if she came to live with us. She doesn't really want to do that, but we know that that's what's coming because she's either staying with us or she's going to be enthroned to the mercy of a Medicaid nursing home, and nobody wants that. So there's no other kids? She has an estranged daughter who hasn't spoken to her in about the last 10 years. No other kids other than that? No, just my husband.

Okay. How much is her house worth? She paid $75,000 for it about two years ago. It's a really small two-bedroom in not such a nice neighborhood. Could you sell it for about that? It's paid off, right, you said? Right, yes. So you think it would be about $75,000 still?

Right. I'm hoping it would be maybe more, but $75 but 75 is kind of what we're thinking at least. Now our property is actually two lots back to front. On the back lot, there's already a two story barn that has heat and electricity and really good insulation. We could convert that to a living space by just running water out there and then finishing the inside better. She loves that idea, but we don't have, we don't have anywhere near the cash to make that happen. We would have to, she would have to sell her house, use a portion of the proceeds to do that, and then stay there being on our, on our property, but still having a locked door in her own kitchen.

And when she passes, you'd have a barn to many on Mountback. Right, right. So there's a coldly- Stop a second. Codes allow that? Yes. A second living unit on that piece of property in that neighborhood? Yes, because it's technically two lots.

Okay. Yeah. Because you've got to have a building permit, because you've got to be able to sell this again someday. Right, right. Okay. All right. Yeah, but you need to spend $500 with an attorney

and have this drawn up airtight. Okay. That you're promising to let her live there in that property uh rent free with you what are you furnishing utilities what are you furnishing food what are you furnishing every detail what you're furnishing what you're not furnishing i'm not buying the food i'm not buying the electricity whatever it is you're not or I don't care which one you buy, but you just write it down, everything that is included and is not included, and that upon her death that there is nothing owed by you to the estate. Okay.

Yeah, I have an attorney draft that. There's the other kids gone off the picture, and make sure she has a will that states the exact same parallel thing as this agreement. Yeah. Yeah, I believe I would do this. Okay this okay yeah you've thought it through real clear um i don't like the concept in general for the rest of you out there generally this ends up screwed up and the other thing i'm fishing for and i didn't find it in ann's call was that you do something stupid to your house and make it unsellable because you build some

white elephant that nobody in their right mind would ever buy but it worked for you for four years you know that's what people do they get emotional about this stuff and justify it but the way you've got this described separate lot separate piece of separate building it's already got water you've thought that through that's very well done it's marketable codes is allowing it you're not destroying the value of your current home you're not destroying the marketability of it you don't have another relative out there that's probably going to swoop in and give you a hard time and if they do you could have this hair tied enough given the estrangement that you'd be just fine but make sure you've got a solid will and a solid living agreement arrangement whatever

the attorney in Michigan wants to call that. But yeah, I would do this. She's up for that whole idea, right? She loves the idea. And your husband? And she would not have to work anymore. That's right.

She would not have to work. She could live entirely on her Social Security, keep supporting the charity she wants to, have a wonderful life. Don't call me back and tell me you spent 115 and went in debt on the barn dominium oh no no like i said we are rocking baby step two we are yeah i know you're gonna rock his 75 and not a dime more on the barn dominium right absolutely all right making sure we get our boundaries here and i what i gave permission to do and not to do for your own sake i don't care i'm kidding with you but um yeah that's be very very clear on what you're

doing there yeah that's an unusual situation and um you know and it's an elderly parent and that's always a hard yeah and that's a i mean that's a hard place to be when you're you know it's that sandwich generation right it's you know and you know adult kids you know if they have them you know come back and live with them because times are hard now and you can't buy a house and then the parents are failing health-wise and you're happy you know what i mean it's that sandwiched generation so if you it's weird i just spent an hour and a half this morning recording for pat's place pat had summit died of early onset dementia a basketball coach at university of tennessee we knew her and our foundation is one of the people that come alongside that and they

were they're doing a whole website on how to prepare and I spent an hour on camera this morning uh just helping them build that website out and giving them content pieces just exactly like this you know what to do what not to do and I was just addressing the same kind of stuff this morning it's weird yeah yeah very cool but yeah the early onset dementia and memory loss, that kind of thing is a thing. Yeah. And to Anne's, you know, I mean, I applaud her and so many people that it's not always the American way to like take care of your family. Other cultures do this really well.

But it's that, you know, there has to be a lot of boundaries in place and you want to do it wisely. But you also want to honor your, you want to help your parents, right? I mean, if something is going down, it's like, gosh, and they don't have anything. She's living on Social Security, working part-time, not in great health. Like, there is a – I do applaud Ann for doing that. I think it's really difficult. I heard a daughter-in-law that loves her mother-in-law.

Yeah. Very clearly in the way she described the whole thing. Very well done. This is The Ramsey Show. I'll see you next time.