The Ramsey Show - App - You Have to Chose Which Thing Is Going To Suck (Hour 3)

Episode Date: March 14, 2023

Dave Ramsey & Jade Warshaw answer your questions and discuss: "Will buying a condo ruin me financially?" Getting rid of debt while still in school, Helping with an elderly parent's assisted living expenses, Adjusting a budget to go down to one income, "Should I sell the car?"  Have a question for the show? Call 888-825-5225 Weekdays from 2-5pm ET Want a plan for your money? Take our FREE 3 minute assessment: https://bit.ly/3nInETX Listen to all The Ramsey Network podcasts: https://bit.ly/3GxiXm6 Learn more about your ad choices. https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy

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. Jay Walsh, Ramsey Personsey personalities my co-host today open phones at 888-825-5225 greg is with us in fort lauderdale hey greg welcome to the ramsey show hey dave thanks for having me i sold my place in california ended up with six hundred thousand dollars in cash and there's this beautiful penthouse condo in Pompano Beach I'm looking at. I want you to tell me if it's the dumbest thing in the world to buy

it. I love Pompano Beach. Can I just tell you that's my old hood? So I'm just throwing that out there. Beautiful place. Yes. Yeah, it is. Well, the thing is, it's $1,250 for the maintenance fee is the killer. And then I'd have to maybe get a little bit of a mortgage above the $600,000 I got for cash from my California place. They bought it for $750, in other words. I have that maintenance fee, and who knows, there might be some ridiculous assessment for, say, $40,000 or something. So I'd be dealing with that. But I am single with no children, and I wonder if it's a fun great move i mean it's a wonderful place or if it's just stupid what's your household income uh i'd say now i'm making about uh between

50 75 000 a year 60 years old. Okay. All right. So here's, I mean, I want you in five years to pay off whatever mortgage it is, or three years. Can you do that? Right. Yeah. You don't want to be 65 with a mortgage and a $1,200 maintenance fee. Right.

As long as you're able to get it to where that mortgage with all the fees included, all the taxes, all the fees included, is no more than 25% of your monthly take-home, are you able to do it? Oh, yeah. Well, I have to add that up. I have to think about that. Yeah, I think it really needs to be more than that because you've got to pay this. You've got to just say you're going to take out like a $150,000 mortgage, and you need to be putting $40,000 or $50,000 on this thing in licks.

I mean, you need to be hitting it hard. Because I want you to free. I don't want the condo with a dadgum loan on it when you go into retirement, right? Right. So you've got five years to clear this. So $30,000 a year for five years is $150,000. Okay. I've got a couple million bucks I've saved up, too.

I've got to invest it. Well, there's a detail you left out. Come on. Come on. Well, you didn't ask. I wanted to answer the question. You like living life on the edge. I'm getting played here.

Go get the condo. Hey, dude, go get the condo and write a check for it. Don't take out a mortgage. Just pay cash, man. Just pay cash for it and take out a mortgage. Oh, my gosh. Caroline's in Cincinnati. Hey, Caroline, how are you?

Good. How are you? Better than I deserve. What's up? So I am a 23-year-old nursing student. I live on my own. I rent an apartment and I'm on baby step two currently. I am $11,000 in credit card debt and I'm also currently taking out student loans of $3,000 a semester, and $1,000 of that is to help me pay my state car payment. Why are you still taking out student loans? Because you're still in nursing school.

You're doing that for nursing school? What's that? You're paying student loans with nursing school. Is there any way that you can cash flow nursing school? I started it that way, but with my income, it just wasn't working. Now, what do you owe on your car? I owe $10,000. So you're taking out student loans to pay for school, and you said $1,000 of it is going towards your car?

Yes. The student loan is $6,000 a year. Don't do it. I need, we need to stop the bleeding on this. And I'm telling you this as somebody who did that. I was a, I was a person who, I was a little bit dumber. I had a full scholarship and I took out student loans to fund my lifestyle. And part of that was taking out money to buy a quote cash vehicle i took student loans out took the cash and bought a vehicle don't do it because you're gonna have to pay it back and you're gonna have to pay it back with interest let's try to slow down the schooling so that you can pay for it in cash and work your way through caroline how long before you graduate

three years three years yeah okay and how are you covering all of it? You said you're covering all of it, but $3,000 and some of the $3,000 is going to the car. So you're covering most of it, it sounds like, already. How are you doing that? I do have some scholarships and financial aid. You're so close. I mean, the $2,000, you're so close. You're within range of being able to pay cash for this. You're so close. I mean, the $2,000, you're so close. You're within range of being able to pay cash for this.

You're right. If you didn't have a car payment and you made a little bit more money, you would almost be there, wouldn't you? Yeah, I make $30,000 a year currently. What are you doing? I'm a manager at a restaurant. Okay. All right. What are you doing? I'm a manager at a restaurant. Okay.

All right. Okay, number one, your goal is a great goal. A nursing degree, fabulous line of work, great humans do that, and there's always great career opportunity you got the opportunity to make a lot of money with this degree so i want you to get the degree so what i don't want you to do is like jade said i don't want you to go out and get the degree and then have this anchor tied around your neck when you walk down to get your diploma okay how much student loan debt do you have today um i've only been taking out student loans for one semester, so just about $3,000.

$3,000. And how much credit card debt do you have today? $11,000. How did you cover it before in the other semesters? I was working more. I was working over 40 hours, but that's just not possible with the workload of school i would consider is there possible that you can pull back on your hours of school so that you can work no not the nursing degree is a set or it's it's set like that syllabus yeah you're not you're not allowed to move your syllabus around you have to work it exactly like laid out don't you yeah yeah okay okay so uh i'm gonna if i if i were in your shoes what would i do

okay it is good listen you have to choose which thing's gonna suck okay okay you're either gonna be tired or you're gonna have student loan debt and later on you're going to be tired okay yeah so it's you know you might as well decide which one because one of these is going to suck i would prefer to get it out of the way now if it's me um i shouldn't tell a nursing student this but i'd you know rip the band-aid off fast guy okay so uh i want to get it over with and so if i'm you i'm gonna sell the car move down into a hoopty and i'm gonna take all the hours it takes to pay cash for this so that i don't make a bigger mess if you don't pay down on anything until you get out i'm okay with that but i don't want you adding any more to it because you're tired and i know it's hard your

curriculum is tough your studies are tough working is tough i And I know it's hard. Your curriculum is tough. Your studies are tough. Working is tough. I'm not saying it's easy, but neither is paying off $30,000 worth of student loan debt later. Yeah, because that's a slow burn. That accumulates fast. You're doing the right thing. I know that you can do this. And I would also poke around the nursing school and ask one more round, what else can I get for more more scholarships how much other aid can i get i need some help here i'm dying over here yeah this is the ramsey show when was the last time you were excited about a monday what if instead of waking up exhausted you felt exh. You can't wait to get to work because it's another day to fulfill your passion, your dream job.

In a world where bare minimum Monday has taken the place of quiet quitting, in a world where we have a group of morons who are now worshiping the art of mediocrity, maybe you ought to plug into something where you can reach for excellence, where you can actually get fired up and wired up about your life again and go be somebody instead of trying to manage average. No, let's don't do that. Let's don't do bare minimum Monday. That makes me sick just saying it.

Get a little throw up in my throat right then. Bare minimum Monday? That's just awful. It's just gross. So this is why career expert and Ramsey personality Ken Coleman created the Get Clear Assessment to help you discover your top talents, passions, and a clear mission statement that will help you find the work the world needs you to do. And after taking the quick assessment, you'll get a custom report with everything you need

to take that first step toward a career that you love, a meaningful career that you will plug into and leave it all on the field, baby. Hey, start your journey by taking the Get Clear assessment at RamseySolutions.com slash Get Clear. Dale is with us in Nashville. Hi, Dale. Welcome to the Ramsey Show. Hey, Dave. Thanks for taking my call. Hey, listen. I have had to sell my mom's house in order to pay for her assisted living. So, I've got the money just sitting in a checking

account, and I need to do something with it. Now, I know you're not a big fan of CDs, but short-term, I don't know if there's a better alternative. There's not much better. It's not going to make much difference, though. How much money is it? $260,000. Okay. And how much is her care costing?

$66,000 a year. Okay. How old is she? 90. How's she doing? She's in a memory care unit. You know, at 90 years old, she has the typical, you know, high blood pressure, heart disease, cholesterol.

But other than that, she's doing quite well. Okay. I mean, she can carry on a conversation with you, but she just doesn't have pretty much memory. Man, I'm sorry for what you're walking through. Thank you for being a good man and taking care of your mother. Well, I'm just trying to be a good steward of her money. I'm trying to figure out what's going to be best. Yeah.

So if you make 1% more on it, you're going to make $2,000 more. Okay? Okay. And so if you can get a CD that's making 2%, you're going to make $5,000 more. So $5,000 when you have $260,000 in the bank does not change the equation much. Does that make sense to you? Yeah, yeah, yeah. And so, yes, go ahead and put it in a CD because that's better than,

it's $5,000 more than you would have had. Yeah. Yeah, what's your bank quoting you on a CD? For 12 months, 5.45 that's good yeah so that's five percent more than you would have had yeah i would do that yes definitely but and then you know and you know lock up all but 60 000 bucks of it right so put 200 of it in that yeah i was well i didn't know whether to do it in a mix of doing, like, part of it, the money in a 12-month, part of it in a 9-month, part of it in a 6-month, in case heaven help me, if something should come up and I'm needing to liquidate earlier than 12 months. Again, I would have the 6 months and have that at maturity. If you have to liquidate earlier than 12 months,

it means you just don't get all the interest. They don't take any of your principal. So it would just be you get less than five. So it's not the end of the world. Yeah, my goal is just to keep it until maturity. I'm going to try to keep enough money. I'd put at least 150 in for a year at five for 150 for what for a year at five percent yeah okay at least okay and that

that leaves you 90 grand 90 grand will cover any contingencies and if you don't quite get the five because something happens and you end up liquidating sooner then so what it's not the end of the world okay you're not going to lose any money okay yeah i can't afford that i mean that so yeah the point is we're not gonna uh you're not gonna make substantial money on this with this type of thing but it is it's better than than leaving it sitting there making one percent in a stupid savings account right so yeah if you can get five in this current market that's a good thing i'd step on that and um i personally probably put 200 in there but at least 150 because it's 61 years worth of expenses and then again if you liquidate early you don't lose anything except a portion of the returns. You lose none of the principal.

So it's not that big a deal, really. It's just we're going to take a run at it here. So for somebody listening who's going through something similar, at what point, Dave, would you invest that money beyond a CD? If mom was younger? Where I generally investing means I'm going to mutual funds. Yeah. And that means I need 97% of the five-year periods in history in the stock market have made money.

So if you're in good mutual funds, you leave it alone five years, 97% of the time you will make money. All right. And only about 64%, 67% of of the three year periods make money. So I put money in mutual funds that I'm going to leave alone a year. But and I might lose some money after a year if I want to move it over into some real estate. But you can stomach. I can afford I can mathematically afford that hit. It doesn't affect my life but he can't afford to lose 26 000 of this 260 can't lose 10 will be a lot um and chasing 10 you know so we

don't want to take that risk here uh but if if uh if mom was uh in really really really good health uh had uh uh some early signs of alzheimer's and was in nursing care and she was 62 right now we've got a life expectancy that is much longer statistically speaking exactly um and we might say okay some of this money we could park for five years and we could take a chance with it and make you know some good returns like instead of 5 10 11 12 something like that on a mutual fund so but yeah if you're not going to leave it alone five years we call it saving if you're gonna leave it alone five years it's investing right and so that's the the bellwether that we use around here and and so what we're doing with dale is we're helping him save some of his mom's money

in the best possible savings account but that's not really investing right at that stage so good good questions debbie is in raleigh north carolina hey debbie welcome to the ramsey show hey dave and jane i'm so glad to talk to And I've got a big argument with my husband, so I'm going to go with your answer. So I hope it's a good one. We are going from two incomes to one income. So for the first time, we're really going to try and set a budget. My husband thinks the way you figure out a budget is look at what we've spent over the last six to 12 months. And then that's how we figure out our budget going forward. Whereas I figure, no, we just have to look at what our monthly income is going to be. And then we have to give each category

a dollar amount and go from there because it doesn't really matter what we spent before because we're not going to have that same income. Do you understand? I do. I do. You're kind of both right. I get what he's saying. If you've never done a budget before, you don't know what it is that you're spending. So yeah, going back and looking at past bank statements and seeing what did we spend on groceries, how much are we really spending on gas? Going back to see that is a great place to start. Let's say you spent $300 on gas and nothing has changed. And you do a new budget with your new income. You go, we need to spend $150 on gas. You're not going to make it.

That's not going to work. You're basically got to chop it in half. So, I mean, but if you looked at your old budget and go, well, that's changed because, you know, we're not driving to work anymore. One of us isn't working. Gas bill is going to go down. Then you can make adjustments for that. But you're right, Jay.

Both of you are right. You should take your current income and spend it all on paper before the month begins. That's called a zero-based budget. And a good indicator of what you're going to need for that is what you used to do adjusting for whatever has changed right since then but or what you're willing to change since then that kind of thing what you're able to change and adjust since then so they're both right this is the ramsey show thank you for joining us, America. This is The Ramsey Show.

Jade Warshaw, Ramsey personality, is my co-host today. In the lobby of Ramsey Solutions on the debt-free stage, Rick and Tiffany are with us. Hey, guys, how are you? Doing awesome. Doing awesome. So good to have you guys. Where do you live?

Just outside of Concord, New Hampshire. Ah, welcome to Nashville. And how much debt have you paid off we've paid off 176 353 dollars and 85 cents love it how long did this take about 59 months 59 months and your range of income during that time? A range from $83,000 to $140,000. Cool. What do y'all do for a living? I'm self-employed. I design specialized refrigeration equipment. And Tiffany is? I do accounting for a non-profit in human services. Excellent. Very good. Cool. What kind of debt was the $176,000? Well, the first $50,000 or so was a couple of small student loans, two cars, and a credit card. Kind of normal.

And then we paid off our house looking at weird people okay so tell us the story and tell us the story on the live debt free or die t-shirts i love the t-shirts we're from new hampshire and that is the state motto is live free or die right so we just modified it a little bit for the show i love that live debt free or die. Exactly. It's almost like a threat. We almost did. Okay, so what got you guys going 59 months ago?

What's your story? Well, several years ago, some idiot told me that all of my credit card debt and everything that I had before we got married was my responsibility and she wouldn't have to deal with it if I died and a bigger idiot believed it so I went on just keeping on going until I found out that that wasn't true and that I if I died I would be leaving her with that debt. So we thought about it. My credit union had a special for consolidating loans, that they would do everything in three years.

I said, no, I want to do it in two. So we paid off the credit card. It was at $32,000, I think, at that time, and we did that in about 18 months and Tiffany brought up the money yeah the total money makeover again and we had talked about it a long time ago we heard it from our church about financial peace and I was young and stupid and said why am I paying a hundred dollars to learn how to save money um decided I're not the only person who's ever said that. I decided I was just stupid.

That's all. Well, Tiffany, how did you get him to realize that he was being stupid? In your own words, Rick, in your own words. Well, I just saw how dedicated he was. And just to give you a little back story, there is 18 years difference between us. She's a little older. So for him to have it on his heart that he felt bad to, you know, to leave me with a dad if anything were to happen, although he's in much better shape than I am.

He just went out for a seven mile run this morning. There you go. But so I was, I'm not one that likes clutter in my house, so I was doing some research and came up with the Minimalists. Oh, yeah. And you come hand-in-hand with them, Dave. Yeah, they're good friends of ours. Yeah, so it was New Year's Eve

I think weekend or something like that and we had a long weekend and I took the book out from the library and I'm not a very fast reader. I read the whole book in like two days but I didn't want. It's not like it's a literary work of art but I didn't really want to push it on him yet so I just saw some things that changed in him as well because this really this journey had changed our marriage it increased our faith we went from paying like maybe like an offering to our church and I'm you know he brought up me, I really want to start tithing. And that was huge. So we do a lot of traveling.

My dad lives in South Carolina, which is a 17 hour drive. And he does all the driving. And so you're the DJ. So I put the podcast. I just kind of trapped in the car you can't get out you're stuck with dave yeah and uh he he was enjoying it i mean that's a 17 hour drive each way we'd go twice a year so 17 hours of dave yeah more dave than i want. I'm not going to touch it. And I just want to say, too, that God is just provided for us. And the more that we saw that we were giving, the more that we'd get back.

And it's like, I don't understand this. And the more you start doing smart stuff, the more he blesses you. Yes. When you're faithful in the little things he gives you more to manage right and um he had a great uh sales year um back in 2019 and he knew it was my desire to finish my degree it's uh i finished my associate's degree there's probably a picture there um in 28 years it was just something that for my children I just wanted and my grandchildren you know to see that and it was just important for me and my mom too and dad who are still with me and um but anyway so he's like you know I had a good year I mean let's pause

the journey still pay you know at that point we paying, we had already paid off all our consumer debt. But let's, you know, kind of pause and pay a little bit, you know, do the house payment, but get this degree done. So I gave my notice to my work, January, 2020, I gave him three months notice. Oh, perfect. Yeah. So March 10th, I think was my last day. Talk about perfect time.

Yeah. Right in time for COVID. Right. But, and Rick can explain about his job,, I think, was my last day. Talk about perfect timing. Yeah. Right in time for COVID. Right. And Rick can explain about his job, but I mean, we should have been afraid, but God, that was probably one of the best years you had financially because of your essential work. Right. It's essential business, so we kept in business.

We kept producing as best we could, and people kept asking for more and more and more and it worked out just well she was able to go back to school and finish her degree and then we finished paying off the house yeah and we came here and a side note go ahead a side note too is i've been self-employed most of my life and finally two weeks before i turned 66 i opened my first ira there you go why not yeah it's all part of the program right that's right well congratulations you guys how's it feel to be free oh my goodness yeah um we because one of the things we gave up was um we love to cruise um we were doing a couple of cruises a year we gave that up um so we were able

to do our first uh debt-free cruise oh cool wow yeah a couple months ago yeah yeah where'd you go to the bahamas yeah it was good hey we've got the live and give box for you that's the baby steps millionaires book uh i got a feeling you're there uh How much is in your retirement account? Well, it's fluctuated because, you know, probably about $75,000. I put it in just in time for it to go down. What's the house worth? I looked it up today, $360,000. Okay, so you're on your way. You're on your way then to Baby Steps Millionaires.

We've got that book for you. We've got the Total Money Makeover book for you. Financial Peace University membership. All of those, use them or give them. Use them or give them. That's what they're for. And god bless y'all well way to go heroes thank you took control of your life well done rick and tiffany concord new hampshire 176 000 paid off in 59 months making 83 to 140. Count it down. Let's hear a debt-free scream. Three, two, one. We're debt-free!

Yeah! Yeah! Woo-hoo-hoo-hoo! I love it. Live free or die. Live debt-free or die. I love it. Yeah, I'll take the New Hampshire state motto, make a little adjustment. Oh, yeah. And we have a new motto here. I love it. Live debt-free or die. I love it. Yeah, I'll take the New Hampshire state motto, make a little adjustment.

Oh, yeah. And we have a new motto here. I love it. Live debt-free or die. Whew. Man, serious. Hey, it's a good way to live, though. It is.

How do you celebrate? You're going on a cruise. That's perfect. I like it. And it's debt-free. It doesn't follow you home afterwards. Love it. This is The Ramsey Show.

Our scripture of the day, Matthew 12, 36. And I tell you this, you must give an account on Judgment Day for every idle word you speak. I don't even want to think about that one. After doing all these hours of talk radio, oh my Lord, give me grace, Jesus. Is it better to offer no excuse than a bad one? George Washington. Interesting. You know, Dave, I think you could be one of those Bible readers on the Bible app. One of the voices.

You know, you've got like Morgan Freeman. The hillbilly version? James Earl Jones. The Dave Ramsey version. I could do the hillbilly redneck version of the Bible. the dave ramsey version the uh hillbilly redneck version of the bible that's the one i would do i'd like to take a poll on that yeah i'm i'm i'm up for it i can do it yeah like read the whole net sounds like a lot of work don't don't sign me up for something here what are you with you some publisher or something i'm just curious some

people might like it yeah all right aiden is with us in St. Louis Aiden get me out of this how can we help doing all right how's it going better than I deserve man how can we help yeah so um I took a weekend trip to Texas and I messed up and bought a car while I went down there, and it's my dream car, and I just messed up and ended up doing it now. I can't get the thought out of my head that I could be using that money for a down payment on a house. What car was it, and how much did it cost you? The car was $20,000, and it's a 2013 Nissan 370Z. What's the payment on that?

My total payment works out to around $450 a month. Okay. And what were you driving before? A 2002 Honda Accord with 275,000 miles, and it's broken on me like four times in the past two months. How'd you get to Texas? I just went with my buddy. So you still got the Accord?

Yeah. How old are you? 19. 19. And what's your question, sir? Just don't, I just don't know if I should keep the car and deal with it and pay the stupid taxes, you say, because I know I messed up, or what to do from here, because I can afford the payment, and between me and my fiance, we make enough money

where it's not exactly a big financial strain on us, but I just can't shake that idea of the down payment on a house. There's not an us. You're not married. Yeah, well, so we get married in a month from now. Oh, okay. So you just saddled her with a car payment instead of a house. Yeah.

I bet she's happy. She kind of told me she thought that I deserved to have something at least kind of nice, but she said we're going to work on it as a team together. What's your income now, and what's your income going to be when you're married? So my income now is about $3,500 a month through my night job, and then I just got my real estate license at the end of last year. And then she makes around $3,000 a month, and so it'll be around $6,500 a month without anything from real estate.

Wow. Can I ask what other debt you have in between with her as well neither of us have any other debt other than this i've got um i personally i have a little bit of cash about around three three months worth of expenses i've got six thousand in a raw 2500 in mutual funds and this is like my first ever mess up, essentially. And then she has around 20K cash with no investment. Okay. I want you to tell her I said this, okay?

Okay. You don't deserve the car. She's wrong. If you deserved it, you would have had the money to pay for it. You don't deserve $450 car payments. You're not that bad a guy. Yes. You don't deserve hell. Okay?

So I'm not going to, you know, no. You know you deserve something when you have saved the money and you pay for it. Until then, you don't deserve it. That's a childish statement. And if you repeat that statement over and over, you're going to be broke your whole life yeah i deserve it no that's mcdonald's i deserve a break today you deserve a big mac that's the best you can do seriously so uh what would i do if i woke up in your shoes is i would sell the car because you have cost your family the down payment and i would get rid of it and you

made a mistake you impulsed and um you made a uh and and the other thing aiden that uh i do when i pay stupid taxes i want to do an autopsy, a CSI on the situation and go, okay, what was going on that allowed me to be this stupid? Was it your buddy with you? I think I was just with my friends, and I just really wanted a nicer car because my car is broke down so much. What process is going on in your life? What process is going on in your spirit, in your intellect, in your decision-making paradigm that allows you to make this bad decision?

You want to know that so you don't do it again, right? Yeah. Because if you impulse $20,000 items and your fiancé says you deserve it, you're going to be broke your whole life man and so the bad news is you made a mistake the good news is you're only 19 and you have the whole rest of your life to never impulse a car again yeah you might do some other dumb things but let's take that one off the table this is the last time you're gonna do this one check never do that one again because it's gonna cost you some money by the time you get out of it you're probably not

even gonna get out of it without writing a check right and so it's gonna set cost you some money by the time you get out of it. You're probably not even going to get out of it without writing a check. Right. And so it's going to set you back. But I wouldn't – I would get rid of it because of how it occurred. Well, he's never going to be able to – even – he's never going to be able to enjoy the car because of the way he feels about how he purchased it. It's always going to be that burden to him. It feels like he's got a financial hangover.

Right, yeah. Yeah, I'd sell it too. I mean, numbers-wise, they could probably make it work, but I think it's a principle here, and honestly, it's how they're setting their marriage off, and that's not the foot I'd want to set it off. I think I'm admitting that what I did was a bad idea by getting rid of it. I think by keeping it in some way,

you're endorsing this saying some portion of the decision was a good decision. Right. Right. And honestly, none of it was. So I think it's a, it's not a really about the car and it's not even about $20,000 with their, you know,

with their $80,000 income. It's more about i've got to make sure my brain never works this way again because it didn't work well yeah when i was doing this and you're the some of the people you hang around i just want to throw that out there um you it sounded like whoever he was with is an influence on him being an idiot yeah because yeah if you're gonna listen if if you run around with your drinking buddies you're gonna have a drinking problem heck yeah this is how it works i mean this is not you become who you hang around that's right so you just gotta you gotta watch

this stuff it's uh yeah i'm i'm uh i want to be hard not on you aiden because you made a mistake that almost everyone in america has made at one time or another in their lives but i do want to be hard not on you, Aiden, because you made a mistake that almost everyone in America has made at one time or another in their lives. But I do want to be very, very hard on the actual event. I want to be very hard on the way your brain was working during that event so that you don't repeat. Right. And you don't have to live with this kind of pain. You know, when Sharon and I went broke, Aiden, and we lost everything, we were we were 28 years old we had a brand new baby and a toddler and a marriage hanging on by a thread one of the benefits of having gone broke at that age and lost a million dollar net worth

lost four million dollars worth of real estate is I got the opportunity to repeatedly do what you're doing or what I'm asking you to do, and that's do an autopsy on my stupidity. Okay, what killed the patient? Why did he die? What's the comorbidity? I mean, we know it was COVID, but what's the comorbidity, right? So important. It had to be COVID.

Everything's COVID. But it's a sum total of many things. Never mind the fact he got ran over by a car when he had COVID, but he died of COVID. But let's really get to looking many things. Never mind the fact he got ran over by a car when he had COVID. But he died of COVID, you know. But let's really get to looking at what really, really happened here with the patient. Why did the patient expire? Why did I make this stupid butt decision? And I had to unpack that.

And I spent actually a year or more unpacking that so that I never went back again. Right. And thus was born what we teach every day. I love that. So there you go. Go through the process, people. That puts us out of the Ramsey Show and 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 what's up guys it's jade look if you like what you heard in this episode and want to know more about getting started on the ramsey baby steps go to ramseysolutions.com and click the get started button we'll help you figure out the best next step for you based on your specific situation. That's Ramsey solutions.com and click get started.