On the head waters of revolution Studios Day were amnesia were damaged, arm, tanagers, gang and unpaid, or has taken the place of the Bmw status of job. I'm diagrams, your house's your show America. Thank you for joining us. It's all about you. Phone numbers AAA eight to five. Five, two to five: that's Tripoli! Eight to five. Five, too Two five joy is weathers in Denver Colorado. A joint now are you

How are you pay from repeating my car sure? How can I help you, the painter podcast regularly for about five miles an hour period. We must speak out. My husband and I have paid out around him How is it that we have decided to you while we decided we wanted to take a few, and I wasn't, course. After dinner area were actually the moment. So we decided to require an artist. Tonight I think you were so excited and I was wondering if you have any laughing it was. It was time for people like us, an observer. He came to see you and we're starting out reading acquire she has eleven family, find out. Why yeah. I'm really excited. Why did eleven people sign up, but they knew you and trusted you?

Mr Byrne, I know yes, I would say yesterday there were really recruits, advertising over local church. Isn T burn Elementary got like that. I'm gonna get inside the ones that no you signed up because of him You are as a person and mud best encouragement would just be that person because they already trust you. In other words, don't try to be something you're, not I don't think you knowing tat you just in talking to you on the gear that person you don't need to act like your financial gene, You don't need to act like you are happy all the answers. All you gotta do is be able to turn on the dvd player play me YAP and about whatever the lesson We happen about that night and then put shares in a circle and love people and be yourself. The other thing is always just talk about the times that you

failed or that you are unsure or that you goofed whether it was ten years ago or ten minutes ago, because that gives other people permission to not be perfect And there seems to be this illusion with people that everyone else he's got their money act together, but me I'm the only do fuss and iter We are all due emphasis. That makes sense. Yeah inadequately true to the primary barriers to people receiving financial teaching is guilt and shame, and if you can remove, by just that's what I do tell me a story all the time you may tell it. If you ve been watching the pod, guess that much I mean times, I've screwed up and in our went broken everything had to start over and all and that's where all this case, from this passion for helping other people came from. And this idea that I hate the that's where it came from was for I've got a page,

in the U N, and so what that does. It makes me approachable, right and I'm not I'm not. Some God drops his glasses on the end of his nose and look down in the shadows. It looks down his nose at you. You know snobbish an hour. Conservation of me- I'm just a guy and publish really good at the stuff, but I've been doing Thirty years I to be good at it, So you know, but when I started beans and harm so that that that that just be over a kind of a person and just care about the people. There. Look in their eyes and listen to them here you remember just fine, but because that's why they came anyway, because you're a person they trusted and just be the part B, the person that cause them to come in the first place in Europe. Just don't gotta know everything you down! That's ok How ya doin I shouldn't,

fifteen million people. A man's life on this radio show, I have to say I don't know sometimes I don't know and that's the only answer, because as the only truthful one anyway You can google it like. I can google it let's try together. I don't know you know, but that's why don't take a long time questions, because I'm not very good at taxes that kind of stuff, so you just do not have to be everything you just gotta be somewhere the cares of yours You can be a great financial patient. First, a moral clash yard. He got left. People come on, the glass is pretty girl. I thank you. Thank you getting it we really appreciate it dawn is whether such Tampa Florida high dawn our you they are much better than I deserve. What's up. Work requires your boy around baby steps. Seven paid up, in July, yeah yeah roadside about that, however background I made about three point: five,

without your camp. At my wife, I had some nor Georgia wants to back up to your next year, we ve been looking at houses and bound you'd be like the collection, as the United States yet come up with twenty percent down cannot get yourself or so I dont have a cash right now. What we were taking now was pretty much nobody answer as by mistake it out, on their land or down payment, sell out by everything on nine July when we move up there. One event: research went up in the postal market, frozen guns, Your house, where I understand, has not arrived here. That's that's gotta! By hang up there is it operates, go out should appear in our house.

But what we are looking to get right now and then suddenly Yahoo com, which knows on motivated seller and economic and three twenty five. Given a house away, do I let my problem? I try to do that. You know what we go up there with no mortgage one. However, now, while you know it's difficult, it's there, there's not a sigh things going to be difficult. And I don't know you just have to choose which difficulty you want? Do you want the difficulty of the risk of the debt or do you want the difficulty of move cause. You guys sell your house, so you have the cached about out and Georgia and she and apparently somewhere for a little bit? something like that cars are caught in the middle there for a minute. That's a paying the boy but is also outlined above get stuck with. Mortgage, goes real stay markets. Wings on you know, you got a house and Tampa you can't stand because you get. Progressively hated more every day when you can't our measures, Piss you off! I could

Do it. I can't I can't fight emotionally going back and that after I got out? Well, that's the big be honest with that. A driver, because right now were I to participate on occasion for the move yeah and it just is its but thought with a fathom. No one is paid for home in Tampa worth three thirty. The house you want to buy in Roger roughly, where little to no more than forty point by anyone. Have the money, if you told your house, you would be pretty diverse I'm not lying. I work in airlines by my that's right, all right now, trying to make a comment. You got you gotta. Do what you guys wanna. Do you called me, me sharing and I would show a half a casual in Georgia,

I mean we have moved twice, because it didn't wanna perfectly but wait all borrow money and I couldn't go. In their value. Have you got I couldn't do? It This is the diver amnesia Why shouldn't I got from livestock com? They have a one hundred percent satisfaction guarantee the means. Even if you screw up with you miss measure, you pick the wrong color. Then they will really make your window mines for free, that's pretty good guarantee! You get free samples, free shipping and with the new promos even more use the promo code, Ramsay its met

get on making money at blinds that calm jobs, in Kentucky, whereas the best placed, but my margins you ve gone. My bank offers many types of savings accounts on a make sure the monies available. When I need it well enough, fully the liquid meaning that you can get to it with no penalties? That's all that matters it's not gonna March, no matter what you do with it: your mom and she fund is not an investment emergency fund, his insurance? investments make you money. Insurance protects the things that make you money shots, Investment, its insurance, and so when you said ten, fifteen Many thousand dollars, aside for your rainy day fund and its sitting, stupid savings account making one percent that. Hush you money. Could you could have been investing in something good right? That cost is called opportunity, cost missed opportunity, but that's ok! You do it.

You have a rainy day fun, but its purpose is not to build wealthier other in that months, your other money actually build your wealth. This protects the things that build wealth. Here's an example, let's say The transmission goes out on your car and you have no money, but you put all your money in your for a one cake is you're all about investing now how you gonna fix car. Well you're eating up around credit card, which would be stupid or even dumber than that, you're gonna borrow on your for a one k that be stupid your cash out, your for a one. Can that be really stupid because that's gonna cost your ten percent penalty pleasure tax rate of there. Five percent or whatever it is, and so you gotta thirty five or forty percent. He had on your money. The fact borrow money, thirty percent interest to fix your car because you never rainy day fun cause. You know what it's gonna rain Dave. You need to be positive on positive. It's gonna write. You need to be ready, it's coming.

And so that emergency phone is not making you money, but it protect you from doing so, stupid when bad things happen, I didn't say if bad things happen, I said: win. You're gonna lose a job, there's gonna a car wreck, there's gonna, be a surgery, there's gonna, be a dot dot, not fill in the black right just life and not be a negative on it. Just happened. And when you money it turns a quota Emergency into an inconvenience. Thirty years ago, almost sure and I were so broke we couldn't by attention. We were on the verge of bankruptcy at that point and allow baby in a toddler in the house and a woman stressed out of her mind. Does her husband was a deficient gotten, a sovereign debt we couldn't see. This was not a pretty pictures. All guest and tenants

if you don't know about August until I see you can cut the humanity here with a knife and stuck it in blocks, ok, I mean it gets hot and human. You can't breathe little babies stressed out Mommy's. And the air conditioner goes out right on cue. We had no money, none, they were on the verge of bankruptcy. Already air conditioning is going on. Well, I know what you're supposed to do. I know what I did. Ok, I gotta go from urges run, Amanda had a bunch of junk in his back yard, one piece of which was a air compressor compressor, which is what had gone out and the only we got some stuff home depot, one of their welded. That thing you and he shall be Shorter- knew what he was doing and then we had our he'd never got

I did know what he's done come over in charge. The thing up I ended up later its thirty years ago, and I remember what it cost three earned pointed out. Why do I remember that the penny? Thirty years later, because your show stress around that subject: stresses memory, Indonesia, you'll, remember things when you're and high stress in detail. You knows I like, when a car wreck, our very slows down the same situation, For your brain works through twenty dollars, thirty years later, another spent on a stupid air conditioner fast forward a decade after that We're making money again, we ve gotten the mesh cleaned up, we're moving out with our lives. We have an emergency fund of twenty five thousand dollars.

Same phone call to the office live. That would be my wife. The air conditioners out again, now again means ten years later right, but the air conditioners out of the House call the heating and air guy sitting over over there. He calls me back and goes the whole things. Bad news less than a said replace it? I have no idea what it costs. I dont remember in a why because a crisis becomes an inconvenience when you have an emergency fund, that's Tweedle right there! Ok, oh christ! becomes an inconvenience when you have an emergency fund show when you park your march unsafe on you park it where you can get to it, to fix the transmission or replace the heating and air, and it becomes an income It's you, don't put it in a stupid c d, a certificate of depression to try to get it. We have a point more on your money and then do end up having to pay a penalty.

To get your own money out. They take a portion, the very little interest that they were giving you in the first place to get your money, so just put it in a simple savings, account slash money, Market accounts mindset of money market account money, come on mom you drove on company and its paying nothing. I dont know what it pays on one quarter. Maybe it's not what I ve got one their pay one point revival who gives a rip ears Getting rich on this thing. Do you talk about what ten one hundreds of a point here? Amazing? How you not? You know not till one hundred says one one hundred zero point shift here: it's not that this not gonna number basis points did not go move a needle for you. What moves in ITALY failure managing money, properly, you're not have the time, The real investments that are making bank you're good mutual funds inside your for a one gay inside your Roth IRA, so don't try to

about the interest rate. The only one is fully liquid, meaning no penalties to get to it. Do not hook it to the overdraft protection on your checking account because you might accidently bay, buying a couch and think that this is an emergency buying accounts is now an emergency. I can help you with that. You might be thinking that you now we need to go on a trip and that's an emergency. That is an emergency, It does not need to be hooked. Overdraft protection checking out most most of you have banking banking and can actually jump on line and move the money over into your checking. If you did, I have truly an emergency and you needed to cover something with a check. We ve got time to do this. Everything's, ok, for a few things that you're one hour to collect, money or you die. I may not. Just this is not a movie. This is our life. It's real stuff here so do not put it in overdraft protection. Do not have emergency fund where there's a penalty to get it out and don't spend.

Like seven years of your life researching trying to get one tenth of one percent, better interest rate who gives a re up your merged. The fund is not an investment, it is insurance and when You have grandma's Rainy Day fond embraced the g. Ok, fun. God only knows fond. When you That implies should turns a crisis into inconvenience. That's why it's baby step three and the first thousand of baby step one because it's fun

dacians all for you to be able to build out your house, your financial house, think about it. What if you had no payments but a house payment? Think about that? No payments, but a house payment and fifteen thousand dollars cash savings account by the way that would put you in the top ten percent of all Americans that one thing all those two things: a fully funded emergency fund and no payments, but a husband. You know why you just me saying that, since a piece comes over, you know why you that, since we can very much

its correct its foundational. It gives you a place to build when you start trying to bill wealth while you're still broke the end up stumbling around in the dark. Stabbing you tell on the chair. Stop your phone, one k temporarily, stop all invest temporarily work through the firstly by these three baby, thousand dollars every except the house finish: your emergency funded research months of expenses its. Danish and all building well and getting scroll, your life, but I am sure,

thank you for drawing a summer lad. You hear cabin Hamley, not in Canada, hey guys. How are you were great day? Our you are really say. Thank you today. Will you to welcome my she almost green you're dead free? How much would be paid off. We paid up thirty ten, dollar thirty thousand dollars in Denmark fire alone. I reject that's. Ok, go far thousand bucks in ten months? My range of income during the ten months. It was a hundred me one hundred and eighteen thousand canadian great. And what are you

do for a living, so I'm a coach technician a local transit company and I my consulting peace experience, hoping for and local community hospital cool go and you paid off thirty thousand dollars out on what more comment. Well, they waited stabilize their rights. First, ten years were marriage, but that was his last little bit. Five thirty thousand was on. We had had the roof down in the house. We had a window front of the house that with leaking one of our cars, let out so we end up having to buy what was we noted our days car. And just like our demands that one point we decided that we deserve the trip Disney. So all of this one on a line of credit- and we just did It was time to pay it off. While so, why and months ago, the flip, the switch Actually it's funny. We were as though we were on that trip to Disney after spending all this money on the home. I could you wanna credit

we were travelling to and from a man we mean- and I got into a thing to josh- remind the minimalist joy in a couple of times new and so they imagine this guy, this guy Dave Ramsay. I had never heard of this day. Ramsay guy before us is not well known in Canada, but when I came home since I got home, I said Listen, religiously islets and all three episode does apply get every day to and from work, and I came home. Little Lena and We will try to get financial Peach university, but unfortunately can't get it and Canada right though we end up having to just go. We went and grab the total money make over and lean, and I sat down every night we and we had some tea and we read it aloud to another and within about a week we were done the book and we started our budget, It took about three months to dial in the budget and we were well underway louder. That good for you don guys. So what are you

our people. The key to getting out of bed is so definitely sticking to the budget actually about three months figure out the budget and get it to the sweet rifle. We're track where we weren't, you know dipping into extra or running short one month or something. So we were able to balance our budget that if it's worth three month but once again, It was really about sticking to end, and can you anyone dynamic one another on every person, as even if we had to look at our budget daily. We wish the down and say: okay, this is what needs to be bought. Angela, coming out? How much is this gonna, constant and ultimate He came down to signal. Sometimes we get absolutely had to say now: that we both took on extra jobs during that time, and it turned out that every little they does count. So even if it was twenty or thirty bucks, I'm putting towards the data very thirty dollars after re here or little bit left over. Oh sure, money and all went towards the dead

while I really hope paying it often and against the bottom line. It becomes again comes down to being really intentional about where you're money going there dimension was why it was important that we got two kids on board or kid. There are ten and aid you know. I explain to them what that is and why we're doing what we're doing and why mommy and daddy are working so many hours wait a minute more to them why their friends are able to go on these fancy expensive vacation, but you know we're just working our butts over here, trying to get ourselves that it at that Big thing for them and we actually read smart money, smart kid as well, and we put it commissioner, you and Rachel mention it in your book and they ve been really receptive to it, cool. Go my own. Congratulations, you guys who was a little bit start. Your later It's definitely my parents were big supporters of. Aren't they really in a helpless at with big.

There is no free, grandma grandpa babysitting I, which was a huge thing for ass a during the summer time. Somebody can be extremely expensive and Kevin. I were needed to work, so they were so great. Hey learned at some other time, on our furniture broke it. We were ready to anything new at the time in order to sell Gazelle and they ve been a huge, a huge support. But I think overall we explained it to a few friends, some other family members, and we got a few odd locks and few people ass a whole Why would you even do that or why not just use your home line of credit and like well? That's what got it Firstly, it stay under forever, some dom questions and well. Congratulations. You guys were very, very proud of you wondering Not that cannot think very. My little guy Dylan listen to your pockets with me all the time

what's on your mind allowed, but you open up with- and we really to come down and see you guys, but unfortunately we are still trying to fill up our emergency funds that we will be down and I promised them one day he would get to meet you help to be down there in the next year sullen, We may in the lobby absolutely in that that be funny. You remind me, we talked about it, especially when you come back. Circle very look forward for too many issues like you guys have had a complete transformation in ten months. Dave is incorrect. Like it was funny when we first paid off limits. It's me, I don't really feel any different, but when you start to notice, as you start to build your mercy. Finally, its building and building in building and you're, not paying money out of people. It was just a complete life, transformation, changes withdrawing while fully change your family tree right. A man well done guys very, very well done I covered only, and I can about thirty thousand dollars Beethoven. Ten months, we're gonna copy of

Slogans everyday millionaires will send you a cassette your next story in next chapter in your story, so calm down, let's era, debt grew red guy three I man, that's how it happens right there. It's our happens. Short one talking about the dead snowball and I'm talking with people getting out of debt and they're doing thereby and their living on a plan and there in control and there being grown ups alarm percentage of them? I have gone through financial patient virtually now Financial picture. Diversity is a nine we class. It's time locally in your area. You can set it on the class. And right now, when you buy philanthropies university, we give you a one year, membership to financial peace.

Now the one you're membership to financial peace, all of the online stuff, it's every dollar plus which connect to your bank, about a hundred and twenty dollar item? It's the legacy. Only class and all financial patient diversity online. You can watch it, listen to it, I do it's all available to you on line and that's about a three hundred dollar three and fifty dollar item the smart money more kids, that they. French given leaned. So they read the book and taught that short teaching their kids weathers a course that goes with that book. A smart money, smart grids,. Horse teaching your kids out, I handle money so that your family trees changed taught by Rachel crews. Little bit by me, that's all in the membership on line community is huge and accountability. Encouragement is fabulous on line we're gonna be putting a bunch of streaming of the lab of in their online the death snowball too.

It is in their online all part of financial year financial peace membership that is free for the first year when you go through the class enterprise University, the nine we class. If you wanna get signed up for one in your area and get all online, stuff goin on gesture, Dave Ramsay DOT conference. Your patient diversity. Look at your schedule. When you can starred in if you got a military family or Europe is one of your travels just one of you the clashing element follow along online. You watch all of it all the videos or their use. That is, your home school lobby. Have you want for Europe for your home study rather abolish bills, not for kids but yeah, there, you go changes everything, financial peace, university and finance.

For peace. The membership for a four year, Dave Ramsay dot com,

Robert fourteen, twenty three all hard work brains are proffered buccaneer tall leads only to Father the Burgundy Roosevelt's, where there are many ways of going forward, but only one way of standing still share those weathers, enamel reload axis I share, and how are you

Dave. I'm well, thank you and thank you for taking my car like the and is bad. I own a house in another state and in order to sell that house and avoid the get the capital gains prevention. I would have to move back there and live in it for two years, which is not my preference, because I've been gone from their working for eight years now. So I considering doing a charitable remainder trust or a charitable gift annuity or whatever. That terminology is for something like that to get a monthly income. While I still Obviously the rest goes to the charity. I hold. About it, but they don't have anybody in the area where the house is that could deal with that. I would not done. Then I would not do that

What is your net worth Now how much money do you have an and stuff? Do you have to say Well I mean: are you? Are you worth ten million dollars or over me and violent events now know? None are you worth over? A million dollars probably had a good, that's good, and so what's this house worth please allow me to mention a while ago says three hundred thousand good. How long have you had it? We need five. Twenty six years show you paid sixty forward or seventy. It was eighty, eighty good guess and have you, preceded it and written off on your taxes. While you were renting it to be so, you haven't rented it ok, so your gain would be three hundred minus eighty? So let us rough it out after expenses. Say: you're gainers, two hundred thousand, this is gonna, cost you

thirty thousand dollars in taxes. That's what you're talking about pack of land is another you're, a g. I go that you're that you sell it. So that makes your Medicare part B go from one hundred and thirty five up till like four hundred and something that goes on for two years, and then your social security is eighty five percent tax and there's just so many other domain urging a mob over. They edgier your positive How could it not do hundred thousand probably not selling announce. How could it not your prowler, ok, All of that added up, though, done add up to forty three. Nor photo, including authority does more tax bill. It was not. Deal breaker and what you're getting ready to enter into don't be so cumbersome the and it's just not that it's not the right tool for what you're talking about

How would you consider owning real estate in your state and make an income offer that state what I'm living now. Would I consider it? Well, yes, look I what in eighteen, thirty, one extrovert exchange and yourselves thousand and by another piece of property, if no gain on Iraq and the wage reappeared. Wow? I knew I should call you think, there's something I've never interfered, actual I've. Never even heard of it fun in the old days. If you traded arena property for another and property, you row your equity in your capital gain into the new property. You remember that doesn't ring a bell willing there had been a that's that that's, what's called a ten thirty wanted your trading property section, ten, thirty one, the irish goat and so trading, this house for a house in Amarillo or two houses and Amarillo to enjoy the three

thou, not announced house for two hundred and fifty thousand houses and have you two little rennell sitting there that are paid for that you just take. Rental income off of those and there's no capital gains at all? Could roll your capital gains to those. As you know, you're all basis into those deals. Now you don't have to Finally, in the old Maldives, used after select the property in Amarillo and get the get the I sell and that to take your property overnight, other state as a trade. That was impossible right. You want to do that now now the IRA has a guideline with some of the title companies you just need to get with a good real estate, agent that knows or starve, and you sell the property into a title. Company escrow account It has a ten thirty one certification with the Irish and then you're allowed to use that money to buy the other two properties. You have to select them in close on them within a hundred ninety days,. From selling that more into this escrow account, so he saw the proper Put the money in a same count with the title company and use money. The clothes on the deal on the next day,

that's called item? Thirty one and tax person will know what that is, and I quality, real estate person will know what that is in. So That's what I would do in a heartbeat, so I need to have a couple places lined up that I would want to buy. Now you go you dont, six months to pick em out from the time. You're the property, soil, ok, Bobby looking neighbourhoods and haven't have a good idea where I'm gonna land and what I would do and you decide something that's what you want. Is sometimes can be easy to manage. You don't see you wanna a good quality property, because that way you get a good quality tenant, but not soap, super expensive or its hard ran. And three thousand and amarillo- that's a pretty big house. So you might do what to one fifty years or something like that. Trigger attacks than none at all. It's a hundred percent tax free. As you do, and even trade meaning you, you spend all the money you got now, if you, if you take the three hundred

put it in ass, grow any only about two hundred thousand for the property. You'd trigger taxes. Another hundred right. That kind of thing but but you ve only got a two hundred thousand our gain. You don't have a three hour, though our game. What you'd the house was paid fortune rather than love engage, so I have to spend again. I wouldn't have to necessarily back with them we're doing you're all your gain into the next so get get. We attacked personally the guidelines on it. It's called a ten thirty one tax deferred exchange, you need to know about that and you need to use an escrow company that has the irish qualification. Could you can't just go? Do this and thin air and make it up. You have to go through a shirt process closing. Is fifteen hundred dollars, probably more expensive than a traditional closing? pay a little more closely than thirty one, but it's worth it because you're saying body going on here. I shall give or take all the different things and all the bother and ass on all that so but the charitable. Minders, not a good plan in

situation, you're, not the situation, the main thing furthermore, major trust as use force to avoid state taxes when Europe over your limits on the state, taxes and you're, not over those limits you know you don't have an estate overladen May in dollars and you gotta having to state owned a million dollars to get to be, haven't attacks problem right now on federal state taxes, so good job waited gallows fund, a talk about fund the talk about good day. Hey you, people are smart out there. She is the child- and she was she pin me them almost had her pay and that I proposed that age. Europe shooter figured that out. She was a smart one, rather she's good, I like it, It is about screwed. That part of the good for her well done well done good stuff. They would to follow the House payment less twenty five percent gardens should that include taxes, insurance nature way, I just say, De I principle, infrastructures, insurance, Twentyth, optional, you're, take homepage,

as a guideline colombian people with fifty percent or take on pay and I'm trying to keep you from being house poor. I want your house too, blessing and not occurs when I want house eating your lunch eating you alive. We don't do that. So, let's not go that way. That's the point of the whole thing! It's enough! You got twenty five point. Two percent you're not gonna, go I may not. This is not an exact dialed in thing. The point is: have a conservative payment, leaving margin and disposable income in your budget to bill wealth with that's the point, and so I dont have h away calculated into that now, just pr tee, I that's all, then I hate H always remain a bunch of them, but I hate him I did ask them generally run by people who need to go, get a life doing something else, Barney It is always in charge of the age away had a dream. You and I thought I retired at him. I became thing I forgot,

lets us? Our that I remember you show in the books will be back with you before you know it in the meantime, remember there is ultimately only one way to financial these, that's the one daily with the prince of these crises, AIDS breakdowns in senior executives, police or for the show, listen more watch where with gave way- and you shall have your smartphone catch- the full show or watch the highlights and check out based guess how did he ask or download it today

money. Isn't the only then can we talk about around here? Get life. Changing advice on your career, for my good friend and career expert can comment on my can com and show, according to a recent Gallup poll, nearly seventy percent of Americans are disengaged at work. If you dread going into work every Monday morning and you're, just trying to make it to the weekend, can Coleman show is for you, everyone has a sweet spot. You're sweet spot is at the intersection of your greatest talent in greatest passion. We will help you discover what it is you were born to do and then will help create a plan to make your dream job a reality. You matter and you have what it takes joined. The conversation on the CAN Coleman show here more from the Ramsay network, including the current common child, where ever you listened about gas, hey, it's you producer of the day. Ramsay show this