The Ramsey Show - App - You Can’t Change Your Relative’s Mind (He’s a Professional Doob) (Hour 3)

Episode Date: May 10, 2023

Dave Ramsey & Dr. John Delony answer your questions and discuss: "Should I buy into my company?" Dealing with a relative who is aggressively pro-debt, "I'm scared to invest in the stock market", How much to spend buying a house in cash. Have a question for the show? Call 888-825-5225 Weekdays from 2-5pm ET Join a Personality-led FPU class. Click here! Enter The Ramsey Cash Giveaway for a chance at $3,000! https://bit.ly/TRSgvwy Shop our bestsellers during the $10 Sale! https://bit.ly/TRS10Sale Want a plan for your money? Find out where to start: https://bit.ly/3cEP4n6 Listen to all The Ramsey Network podcasts: https://bit.ly/3GxiXm6 Interested in advertising on The Ramsey Show? https://ter.li/s64ye3 Learn more about your ad choices. https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy

Live from the headquarters of Ramsey Solutions, broadcasting from the pods moving and storage studios, it's the Ramsey Show, where we help people build wealth, do work that they love, and create actual amazing relationships. Dr. John Deloney, Ramsey personality, number one bestselling author and host of the Dr. John Deloney show on Ramsey Networks. Great podcast that's out there as my co-host today. And we'll be talking about your life and your money. The phone number is 888-825-5225.

Michelle's in Springfield, Illinois. Hi, Michelle. Welcome to the Ramsey Show. Hi, Dave. Thank you for taking my call. Sure. What's up? Well, I am on Baby Steps 4, 5, and 6.

I have two kids. I've worked for this particular company for 12 years. I'm not married yet. Engaged to my children's father for a very long time. Anyway, recently, the company I work for offered me one share ownership. And I guess my question is, is this something I should do? If it is something I should consider, what do I need to look for? And if it is something I should do, how should I pay for it? All right.

Have they given you a price? Yes. What's the price? The price is $76,000. Mm-hmm. Okay. Do you have $76,000? I do.

Okay. That's good. All right. And so then I assume this is a small business of some kind. Yes. And so one share doesn't matter. know what matters is how many other shares are there um so what i'm sorry um there's 110 shares yes okay and you're going to have one? Yep, just one. Just get my foot in the door. Okay.

And the other 109 are owned by who? Currently, eight other people, and they offered the same deal to 10 people total. Okay. What's the gross revenues of this company? I have that somewhere. I would have to find that number. Are they trying to expand the executive leadership?

Are they trying to do a cash raise by getting their employees to put some money on the table? They presented it as a reward for service and for the people that are aging out of ownership, you know, they want to retire, some new blood to essentially fill their spot. Yeah. Okay. So is this company doing $20 million a year profit? I don't know. Okay.

Well, to start with, we need to put a value on your share. All right? In order for your share to be worth $76,000, if there's 110 other ones like it, that's $76 million in gross revenues, or I'm sorry, in profits. And so your share, then it would be about a fourth of that would have to be what the profit is to be to value this company. For this company to have a $76 million profit value, it would need to have a $20 million net profit profit somewhere in that range okay otherwise your share is overvalued and i really smell the loosey-goosey way this is

handled is that they stuck a wet finger in the air instead of actually did a valuation i think they just said oh let's see what you get some people to buy it at that. You know, I don't really know that there's some math behind this. There might be. But you can. Well, they did have an independent accounting firm provide a valuation. Oh, okay. All right.

Then I was wrong. Okay. And so based on that, your one 110th is worth 76 000 according to them okay now all of that to say if you were to buy this share here's the downside you're what's called a minority shareholder your vote does not count because a couple of those guys get together that hold all the shares and they make all the decisions okay so you have absolutely no power over how the business is run whether it is sold whether we can a product line put a product line in place uh whether we borrow 20 million dollars at the bank tomorrow uh whether we fire key employees you have absolutely no power from this ownership position none the same you've

got the same you've got today point being they could destroy the value of the company if they not prop they probably wouldn't do that to themselves on purpose but they could do it with decisions that you don't agree with okay and then your 76 000 is going to be worth nothing so you're in a powerless position so i do not ever personally buy into minority shareholder positions i want at least 51 ownership uh in my case i don't even do partnerships so i would just buy the company if i was doing it but um so but but in your case you are powerless against bad decisions or unethical decisions because you are not, just because you're an owner, you don't have any percentage of ownership that gives you power.

Does that make sense? Yes. So that's a very, very scary thing. The upside is obviously that if the company continues to grow, and it has obviously done very well at some point in the past uh if it continues to grow your 76 000 could become worth a lot more later what are the buyout provisions if you wanted to leave um that i would have to research okay um yeah, so I'm imagining this person you've been dating forever decides,

I don't want to be married. And you end up moving across the country. And get a different job. How do you unload this thing? How do they value your share and how do they buy it? Okay. That's very important because you do want to get your 76 000 back well well yes you would you would in that situation i would get the value back but it would be 10 years before i did

it's got a 10-year vest or they have 10 years to pay you back 10 years to pay me back. Ten years to pay me back. Don't do this. Don't do this. You have no power, and you have two, it's so illiquid you can't get your money out. No. You're one one hundred, we're one one hundred and tenth.

That's a pretty low on the totem pole. It's almost like buying a CD with no guaranteed rate on it. Well, and you can't get your money out for ten years. Yeah. And, no. I wouldn't do it. I would guaranteed rate on it. Well, and you can't get your money out for 10 years. And no, I wouldn't do it.

I would stay away from it. It's not palatable to you. It is not a benefit. They're trying to create a benefit, and it's not. You're better off putting $76,000 in mutual funds and just rock on. This is The Ramsey Show. Hey, you guys. Health insurance costs are only moving one way, and that way isn't down.

And if higher costs aren't enough, the wait times to see your doctor are longer, and it's harder than ever to get anything approved through the bureaucracy. So, if you feel like the system is working against you, try a biblically-based alternative to health insurance, Christian Healthcare Ministries. CHM is a health cost-sharing ministry that's helped hundreds of thousands of families like yours take care of over $11 billion in medical bills since 1981. And CHM has also helped them stay true to their values and avoid miles of red tape. And CHM support goes far beyond meeting financial needs. They'll also help meet spiritual needs.

Members become part of a family who will pray with them and for them when they experience a medical event. So listen, y'all, there's no better way to take care of health care costs. CHM programs start as low as $98 a month. So learn more today and join at chministries.org slash budget. That's chministries.org slash budget. Dr. John Deloney, Ramsey personality, is my co-host. Our question of the day comes from Neighborly. The Ramsey Show question of the day is brought to you by Neighborly, your hub for home services. Neighborly is the place to find reliable help for your home and trusted local businesses like Glass Doctor, Mr. Appliance,

and Mr. Handyman. Visit Neighborly.com today and find home experts that are available to serve you all right today's question comes from jerry in florida jerry writes my wife and i are debt free besides our mortgage and i'm having a tough time combating a family member who happens to work in wealth management oh geez this family member believes that using credit cards and paying them off is a great tool to build credit. This family member also believes that using a credit card is better than cash because of the rewards different cards give you, miles, cash back, etc. With this member working in finance, they are more informative than i am when it comes to managing money but after listening to you for so long i can't wrap my head around what they're

saying as the best option to build wealth what's the best way to have a discussion with this family member that i can stop feeling pressured whoa uh i love you and i don't agree with you and we're not going to be able to be around each other if you don't shut up how's that or or hey man thank you so much um i appreciate that i i'm just not into using credit cards and i know there there's i've heard there's some great things but i'm just not into using them but i appreciate it yeah that's it yeah you don't get a vote yeah don't get a vote he's just a dupe he happens to be in your family but he's a dupe yeah and most people have dupes in their families and you just i have family members that vote the wrong way i'm not going to discuss politics with them

because they don't know how to vote they're not good at it and let's let's let's let's look at um his family member using credit cards and paying them off is a way you build credit if you care about credit then that's a thing and if you think that credit is going to cause you to build wealth, which is an interesting dichotomy because most millionaires don't believe that. Now, little dude in the wealth management business believes that, but he's 26 and has an MBA. So he's correct. I'm just opting out of that system.

If you want to build credit, yeah, but building credit is not a method to build wealth. No, it's a waste of, yeah, it's a a fun way unless you're wanting to build wealth for the bank it's a fun way to run around in a circle and make other people rich um can you can you get rewards from using credit cards yes i have chosen in my house with my family to opt out of a system because my flights are not free the person who pays for my flights is a single mom who can't make her payments who somebody said if you use this little plastic card it'll get you till next week and she's buying my flights and i refuse to let the people in the margins pay for crap my family's doing i'm not i'm opting out of that system the number of millionaires in the

largest study of millionaires ever done that said they made their money on cash back rewards and airline miles is precisely zero zero none none of them no millionaire ever said i became wealthy with airline miles and that's just dumber and crud but it's it's it's different day i mean it's not different it's people think they're they're beating the system but also the way those points are presented as though the bank or the gas station is hooking you up these flights are helping you out because you're bros now they're not they're not your friend they're not your friend but here the overall answer to that how do you deal with the pressure from a dube family

member is simply this those convinced against their will are of the same opinion still my grandmother used to say so you're not going to be able to argue with him enough to where he quits being a dupe because he is a professional dupe i mean he's just a duper okay and so you can't talk to him you can't talk him out of being who he is you can't present enough information that he's going to change his mind. There's not going to be an argument about it. And so once you realize you're not going to be able to change him, he's not going to be able to change you, then the best thing we can do if we want to remain on good terms is not talk about this subject. Correct.

Because I'm just going to get pissed off at you. And let's think of the word pressure. Pressure comes from two sides. There's got to be a bottom to it, and it's got to be compressed. I don't allow people to put pressure on me because I don't feel like my back's up against the wall. I'm not going to engage in the conversation. I'm going to walk away from you, right?

Yeah. The first time I had this, I had a guy that was a car dealer that was a Christian, and he called up a friend of mine. We had a guy that was a car dealer that was a Christian and he called up and, uh, called up a friend of mine that was, we had a mutual friend, a pastor and the pastor said, Hey, so-and-so wants to meet with you because he believes, you know, as brothers in Christ, that you all have an honest disagreement and he wants to have a discussion with you about it. Well, he's a car dealer and he sells car leases. And I said, well, yeah, I'll be happy to meet with him. But the net result of the conversation when we're done is

he's going to go back to the office and lease cars, and I'm going to turn on a microphone and say, if you lease cars, you're stupid, and we both love Jesus. But I'm not going to talk him into not leasing cars, and he's not going to present any information as much as I know about the subject that's going to make me suddenly believe much as I know about the subject that's going to make me suddenly believe leasing cars is a good idea but I did this was early in my career out of an effort of spirituality I thought well I'll sit down with my brother and we'll try to

talk that was a complete waste of air it's a complete waste of air because there was nothing was going to change as a result of the conversation and we did manage to get out of it being kind and nice to each other and agreeing that we're not ever going to agree. And that, you know, he's, you know, but he didn't go back and go, I'm going to quit leasing cars. Your little duper wealth manager is not going to quit using his credit card no matter what you say. So just quit having the conversation is the point it's useless i have car i answer questions for people that ask them not for people who don't ask them that's become a life-changing bit of wisdom for me over the last few years i only answer questions that i'm asked yeah and so my friend the other day leased a car came over to my house to show me his new car.

It's a fabulous car, by the way. Oh, God, it's a great car. But he didn't come over there for me to teach him about car leases. He'd already made his decision. So he didn't say, forgive me, Father, for I have sinned. He didn't do that. He just brought his stupid car over, and I love his car, and I love him, and he's an idiot for the way he bought it but the car is amazing and i love him and that's great and you know we've all got a friend that's not smart and i got one too you know and so

but he's got a great car for a little while while he rents it but you know that's it and so you know but that you just gotta decide what conversations you're gonna enter into and i'm not gonna sit and preach at that guy it does no good he's got a car sitting there why you think he's going to take it back because dave ramsey doesn't like it he's not going to take it back he didn't ask my opinion he just asked my opinion that i like the color i do it's a beautiful car there you go and you might go buy it after he pays for all the depreciation probably not that one but it's a good car it was a fun conversation but i i i you know it's like my cousin's mine's not but i have had that there's a question over there's my cousin's a whole life agent and he sold me the whole life policy well you're not

going to talk your cousin into the idea that whole life is sucks it does suck it's a horrible product but you're not going to talk a whole life agent into that fact because he'd have to quit his job if he had integrity and so that this is a big conversation you're not going to talk him out of it but you can just explain to him i'm no longer owning the policy because that's my territory i get to make decisions inside that fence and i'm not gonna you know i'm not gonna play anymore well you don't know we're not gonna talk about it anymore because you're not gonna talk him out of it and he's not gonna talk you into it if you're smart right yeah it's walking away walk away yeah walk away you can't teach

you to vote the right way we're not gonna going to talk about politics. It's just, you know, there's no reason to argue. You know, Trump's crazy. Biden can't finish a sentence. You know, Trump's the problem. He probably caused Biden not to be able to finish a sentence. And so, you know, my God, they're just all evil. And they're, oh, the whole thing. Well, their combined age is 156.

There's part of the problem. But, yeah. Oh, my God. But, you know, people that fall on one side or the other, there is no talking to them. You just caused about 114 wrecks in the United States of America just this. Well, add it up. If these two doobers run for president, I mean, we're going to have to have a... It's going to be sponsored by Insure.

It's going to be sponsored by... What's the diaper? The adult diapers? Oh, God. Nursing home commercials everywhere. This is The Ramsey Show. Thank you for joining us, America. Dr. John Deloney, Ramsey personality, is my co-host today.

Well, the stock market's been up. The stock market's been down. If you look back 12 months ago, it's about where it was. But a lot of people say stuff like, I've lost all my money. No, I mean, it's gone up and gone down. And it went up again and then went back down again. And it's really sitting about where it was 12 months ago. Dave, I had that moment.

I walked through where the TVs are on with the ticker underneath it. After all the drama of the last few months, I looked. I'm like, that's exactly where it was the last time I looked. Yep, yep. Here's the facts. If you invest $200 a month from age 25 to age 65, you would have about $2 million at retirement. That's not too good to be true.

That's based on the long-term average rate of return of the S&P. So, you know, if you make 12% on your money, $100 a month from age 25 to age 65 is $1,176,000. $100 a month. So a huge predictor of investing is not the rate of return. Whether you become wealthy in investing, the number one predictor is that you actually invest. No way. We landed on the moon, Lloyd.

A lot of people talk a lot about investing and have a lot of theories about investing, and they just don't do it. They talk about it, and they talk,'t do it. They talk about it. And they talk, well, Ramsey does this and shouldn't say that and have an opinion. Meanwhile, I'm just plunking money away, plunking money away, plunking money away. And a huge predictor is that you actually invest. So you should get a pro in your corner. To find someone who can help you with your investing with mutual funds,

go to ramseysolutions.com slash SmartVestor. We will connect you with a SmartVestor Pro in your area. They don't work for us, but these are people that follow the stuff that we teach, and they're in the investment world. And most of all, they have the heart of a teacher. And when you click on SmartVestorPro at RamseySolutions.com, it will drop down a list of the SmartVestor Pros in your area. You can interview all of them and select the one you like best. That's a pretty cool thing. And I get somebody in your corner that teaches you, not pressures you. When you meet with an investment professional if you smell salesman run if you smell teacher lean in and learn and you're ready and you'll end up buying there and that's fine

but you need to know what you're putting money into don't do it because i said to don't do it because they said to do it because you understand it it's a good investment smart vesters at ramsey solutions.com smart vestor all right sully is in raleigh hi sully how are you good how are you better than i deserve how can i help i was going to ask you about um the rock ira and 401k i'm not a big believer in it. I just don't know. I've been always afraid of it because we haven't had like a great depression in a long time or, you know, the economy just goes down. So I've always been thinking, you know, if I invest my money in it, there's going to come a time where the economy is just going to collapse and I'm just going to lose all my money so i i have put tried it a couple times like right now i have like 1600 but i don't know if i should get back into it okay no you should not get back into it if you believe it's going to collapse that

would be weird right the only way you would get back into it is if you got new information that changed your mind about your conclusion i personally think your conclusion is wrong thus i invest because i think the economy is going to go up over time it does go up and down we were just talking about that but overall the economy has grown 11.2 percent the S&P has gone up 11.2 percent which is the average of the stock market by the way 11.2 percent a year average for over 85 years that includes the Great Depression by the way that's the average do you think like I'm looking at it like I'm currently just buying, like I bought my house.

Oh, you bought a house? Wait, wait, wait, wait, wait. Yeah. There's no guarantee with that house. Why were you comfortable with that house? I'm actually renting it. I've been renting it for a year and a half now, and I'm making, like, double the mortgage.

But you bought it. You're renting it or buying it? He rented it out, and he bought it as a landlord. You're a landlord. Yeah, yeah, yeah. Okay. But, I mean, you bought this house, and it doesn't have a guarantee it's going to go up. What made you comfortable that it was a good investment?

Because I saw the potential in it, and i saw that i can actually rent it so i'm current my mortgage at 619 but i'm actually renting it at 1300 and i'm making good money even though i'm not taking any profit i'm still trying to pay off the loan so what happens when covet happens again and the government says you cannot evict anybody who chooses not to pay for 18 to 24 months. Well, that's a big hint. It just happened. Yeah. Yeah.

That was just the other day, remember? Do you think it's going to happen again? Like, is there a possibility? See, here's what we're doing. Hey, here's the thing, Sully. The weird thing is you've got all this positive and optimistic view of what real estate's going to do, and simultaneously you're convinced the stock market's going to crash. But real estate, you do have a correct view of it, not necessarily

about your renter, but you look back and you say, gosh, for the last 30 years, real estate's gone up. Real estate's generally been a good investment, and if you look at the math on how much it's gone up in your area, you bought a house in an area that was stable and had a good potential to go up based on things that were happening around it. You looked at the facts and the history, and based on that, you chose to buy a piece of real estate because you felt good about its future because its history was good is that correct yeah well right after i bought it after

three months the value of my house went up 30 000 so i'm already but you missed the point yeah yeah how old are you i I'm 22. Okay. Well, yeah. So here's the thing, Solly. You need to study the stock market. It has a similar track record of going up in value over a long period of time to real estate. Both have excellent histories of making people money. And so you have a poor man's view of the stock market and a rich man's view of the real estate market. You also have what I'm going to call a delusional view,

and I want you to learn this at 22, man. And I'm telling you from a guy that screwed this up. You just said, I've already made this much money on my investment in this property because it has been evaluated at a $30,000 increase. That's not real money until you sell this house. If you sell it tomorrow, you made $30,000. If you didn't sell it, you haven't made anything yet. And so when it goes up or when it goes down, it's not real money and it's not real loss until you cash out and sell it. My house has gone up considerably because I'm in Nashville. Nashville went bananas the last few months. That's not real money until I choose to sell it.

And so I don't count that money. I don't consider myself super, like it's not real money, man. So like Dave said, you're choosing what you want to look at positively and negatively you got to look at all the facts across the picture man you can't just pick and choose or you're going to bounce from thing to thing to thing to thing to thing and you're going to be the guy with a basement full of beanie babies and no money which sully if you look it up in history there were about the time you were born there was a bunch of people buying beanie babies and thought they were an actual investment now my grandkids play with them and the dog chews on them and that kind of stuff so uh hey you know i warren buffett most famously said you know someone came up to him during the 2008 when the stock market went way down he they said, Mr. Buffett, you know, you lost $10 million today on your portfolio.

He said, I didn't lose anything. I didn't sell it. It went down in value, but I didn't sell it. It'll come back up. And then you'll say, Mr. Buffett, you made money. No. It just went up and down. Until I sell it, I haven't locked in the losses or the gains.

And so you got to keep that in mind folks it's it's just it's it's on paper until then and it ain't green paper this is the ramsey show our scripture of the day ephesians 4, 23 and 24. Be renewed in the spirit of your minds and to put on the new self created after the likeness of God in true righteousness and holiness. Victor Frankl said, when we are no longer able to change a situation, we are challenged to change ourselves. Caitlin is with us. Caitlin is with us. Caitlin is in Seattle. Hi, Caitlin. How are you?

Hi, I'm great. Thank you. Good. How can we help? My question is, my husband and I are trying to decide how much to spend when buying a house with cash. My husband is self-employed. He's in the graphic design business

and, you know, with possible recessions coming up or, and there's, you know, with AI impacting possible future business, we're just kind of, our income's always sort of uncertain. So we always stick with a budget. We always save everything we can. Love it. But we are one in my house with cash. We're renting. We've been renting for a long time. So how much cash do you have? Of course. We have $1,070,000.

$180,000 of it is in an IRE. Okay. $180,000 of it's not accessible then. How old are you guys? Right, right. We are almost 50. Both of us's not accessible then. How old are you guys? Right, right. We are almost 50. Both of us are 49. Okay, so you have 800K.

And how much do you have in your other investments, not counting that? So we only have right now the 180s in the SEP and then total $1,070 seventy thousand like that's including that and that's in the bank right now because we're about to buy a house we wanted to make sure it was accessible right now um whatever we do that's your entire net worth yeah is 1 million 70 of which 180 is in the SEP you don't have any other wealth because you don't own a property now. Correct. And what's your household income now?

Right now our income, again, is self-employed, so it varies. But 2020, we made $400 or so. What are you thinking of spending on this house? Well, being that we're in this area, and that's kind of one of the big parts of my question, $700,000 would be a good deal for a house here, and we're trying to decide if it's absolutely crazy. We're going to try to shoot for $ or something like that it's just hit and miss trying to find that i mean you do have two reasonable pieces of data that are pulling at each other on this one is seattle is an expensive market and 700 000 is not a palace okay it's a reasonable mid-market house right a little bit above mid-market house, right, a little bit above mid-market. Right. Then the other piece of data is 700 is also almost all your money. Right.

And that feels nervous. Right. So what would Dave and Sharon Ramsey do in your situation? We would probably buy something in the 500 range, making 400, with a plan to move again in three to five years and move up with more cash okay but i don't want i the idea that i've got 80 percent of my entire net worth at with a million dollar net worth tied up in a single house that produces absolutely no income does not sound fun to me that sounds high right and so the 700 the 700 makes me nervous it doesn't make me panic because you make 400 and so the next

year you probably will bank a couple of hundred right yeah this year so far um we're already at 175 000 yeah i mean if you do that every year, pretty quick. So let's say you bought something for $500,000. It's not what you want, okay? But three years from now, you could add $600,000 to it and go by million one pretty easy. And it will have gone up in value in Seattle, yeah. Assuming you don't get in an inner city area where your crime is so heavy and you know anarchists are blasting out your windows or something but i mean if you get a reasonably

solid neighborhood a protected neighborhood you'll do fine there seattle's a great market in terms of real estate and so yeah and as for the other ai is going to disrupt everything and all if everything's coming down you can take two tracks on that man you can continue just to consume and consume and consume media and lose your mind because again their goal isn't to tell you the truth their goal is to get you to click on stuff or you can do like me and a couple of teammates did yesterday we went and sat with the smartest guy i've ever talked to in my life the data analyst here and he taught us about how it works and how what way the way it's moving and we're just trying to be informed about it right and so i can get more data on it

i can get more facts on it and i can also choose to just follow principles until i know otherwise but just choosing to sit in a circle and panic and again day that makes me hyper nervous you're more stable than i am but man putting my entire nest egg in a house like that makes me whoo yeah i think i'd keep it down in the 500 range like i said and then let's plan with a plan to move up and would you take that other 500 or the other three two or three hundred and put it in a mutual fund mutual fund asap yeah absolutely and then i and then and then i would add to it and you know when she's sitting there with a $2 million net worth and a million of it's in a house, at the next move, I feel fine about that. And now we're getting into a pretty nice property.

And if you're a self-employed entrepreneur and you're making $400,000 or $500,000 a year, don't forget that you have proven to yourself that you can figure stuff out. Including AI. Whatever's coming down the pipe, man. We're so quick to forget our skill set outside of, I'm just locked into this thing. No, you're that good. The first time you see that thing function,

it takes your breath away. It's terrifying. As to what it'll be able to do. Terrifying. How many jobs it'll be able to replace. Instantly, right? As long as these people strutting around acting like they're worth something an hour all of a sudden oh nope gone nope gone gone gone no question about

it but on the other hand there's going to be some ways that smart people are able to use that and make the first fortune they ever made in their life correct and ethically use it not and there's a lot of unethical things that can be done with it that'll curl your hair too so it's going to be a really interesting landscape next 14 18 months but what happens first in these type of things by the way is the crooks come out absolutely first plant first first thing you see and we're already seeing some of the uh piracy things they're able to do with it it's pretty amazing uh neil digress tyson wrote a fascinating piece the other day about he he's getting he's betting on this is the end of the end of the internet because it's going to be so filled so fast with so much garbage

just like our friend who we all know that just won't shut up you just couldn't invite him to the party and that there will be some sort of pushed back to let's twitter trusted people twitter that's right it devolved into a sewage discussion to where it was of no value anymore and if computers are just thinking people have all left twitter spitting stuff out all over the place all the time it's just gonna i'm just gonna go talk to dave because i trust that guy you know what i mean it may uh it may revitalize stuff like this talk show where people actually get to talk to humans right now a lot like this show needs to be revitalized it's doing fine thank you very much

and and i will say this with some of the the voice capture technology you might be able to host this show for another couple hundred years it's fantastic you know what that that in and of itself is really scary the The hologram. Here we go. This is fun. You're going to be fine, Caitlin. You guys are smart people. Dumb people don't make 400K.

Smart people know. I know a couple. I know a couple. I do, too, but in general. In general. You know how to figure stuff out you know how to navigate markets and your husband does and the creative world and i think you're going to be great so but i would not put 80 90 of my one million dollar net worth into a single family

personal residence let me tell you let me say this dave and this is something that came up in some of the research articles I read working on a new book. I believe with all my heart when you're about to do something that your body knows is not a good idea, it will begin to cascade that stress and anxiety through your body. You'll start to find, see fear everywhere. And so when you start thinking it's all coming down, it's all, that's your body trying to get your attention that what you are doing and what you're about to do probably is not a wise idea. Yeah, there you go. Or you're on thin ice and you don't even know it. So let's get some wisdom.

Good stuff. Good show today, Austin, Ben, James, Zach, and Andrew, and Dr. John Deloney. I am Dave Ramsey, your host. That puts this hour in the books. 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, it's Dr. John Deloney. If you love the show and want a deeper dive on your money journey,

we have a weekly newsletter that gives you trending and helpful articles and tips on following the Ramsey way. Just go to RamseySolutions.com today to sign up for our newsletter. Again, that's RamseySolutions.com to sign up for our weekly newsletter.