From the headquarters of Ramsay Solution broadcasting from our car rental studios. It's the Rams, Asia or bad has done, and the paid all border just taking the place of the double you, the style of the sun bullets. All this money thing is very interesting, new variant resting because very few things what they see as you

older and uglier, like me in my ears, continue to grow as other. Well as other parts of my body continuing to grow, my wife says my belly is continuing to grow and she's right. As I see it as I do that I am more and more amazed at how dumb I was and how

I really didn't understand that very few people who look like they have money actually do the huge car, expensive car, the vastly expensive purse, the vastly expensive vacation on Instagram the vastly expensive, fell in the blank, our very seldom actual indicators of wealth, particularly the first level of wealth. I would call the first level of wealthier for your first to your first ten million dollars. You have a network of one to ten million dollars. The average person in that

category is not average to start work their way above average, but the typical person- I guess it should say typical family- that has a wondered. Ten million dollar network is very understated. They buy their clothes at unimpressive places in their unimpressive clothes. They enjoy nice vacations, but they seldom post them for you to see on Instagram because they re not didn't take you on vacation. They wanted to go on vacation. The Christmas presents around the tree or very reasonable. The car they drive is understood Didn't the valleys seldom impressed until he gets the tip. Did she usually on you

Camry, earn my used Honda, nice all pickup truck Sancho, because the people that achieved first layer of wealth that one to ten million dollars the way they did it as they didn't do it, for you are mad at you, but I don't care what you think They were not living their life to impress others, they loved their life. Not yours. They were not trying to emulate or be the Joneses. They just didn't care what you thought There is a real thing. This is when you quit worrying about what people think and your

living life for you and your family, and that causes you took, make completely different purchases and live a completely different lifestyle? One of the greatest complements I had was. I had a very important gentleman who was a top level corporate executive with one of the major companies in our area, come to visit as one not in our home, and he said I was interested to meet. You said, aben checking you out. I've been asking around town around Nashville about Day Ramsay. They said you know what I always hear. I'm interested in less than a very interesting know. What.

That you're unassuming carbonized complement its another was saying I don't really do stuff for what you think I get to do a lot of nice things, but I'm really not doing any of them for you. I don't mean that in a mean way, I'm just you know I didn't buy the house. I live in for you about it for me and I don't care what you think about it, one way or another, the same when my boat or my car or might vacation or whatever and a man at work

these days as well in excess of the ten million dollar levels, I'm starting to enjoy some things at a different level and the people that I know that are in the hundred million dollar two hundred million dollar, they do have some things that are flashy and that they that are not unassuming that they they do cause they can afford it. It's a very small percentage of their world. I've got a friend is worth about two hundred million dollars. You bought his wife of five thousand or coach purse, which my boy from any artemisia. Can you get my at around the idea of doing that until I did it for my wife later, but a pick ups, but a blue. This is why we pray that refers. I still don't understand it, but it's just S W Asher and wants it so, but the thing I realize it's an o who should irish ban that on our part? Well, nobody should probably, but the truth is that such

small percentage of that guy's world he's got honoured, may undermine dollars, five thousand dollars and spit Simon. It's not like it's like you bought a biscuit I don't even come up and short ratios at that point, but what my point is is the first level of wild nothin. A hundred million two hundred million of the gaol with that's a billion air or something like that. That's a different world and on the other, that that's that's a different kind of spending and a different kind of lifestyle, because when they buy a jet it's a smaller percentage of their world, then it is that than one might almost feel by car right. So it's a really different world at that point, but the one d

million that farmers layer of wealth are typically people that if you walk past him in Walmart you'd have no idea. We were walking out of a church that I was speaking in in Orlando Florida, the other day and walk past this guy tall and slender gray, hair, I'm guessing sixty five years old, blue jeans that are pressed with crease down the middle, really nice cowboy boots and a big Texas belt on an oppressed shirt and when he looked like a million dollars is we're in blue jeans and cowboy boots brought ass. I walked past him at all where my Gaza, so that's everyday manner. I guess bottom now because he looks like just a guy with some genes boats on, but there were very nice and that was clean and Preston in I took care of him.

Obviously he was it had a haircut unite. Razor had met his face in all that kind of stuff it, and so that covering it just you know, but you could tell, even though there was nothing fly she he was just still put together, you could feel I can feel it. I can feel the everyday millionaires now, not all of em, but I've just so many of them over the decades of doing this and working with you so my point, is my friend, Tom Stanley, who wrote the book millionaire next door or another book later called stop acting rich. That's a great thing to do. Act, you're, freaking, wage act! Your way stop by stop. You can't afford put money, you don't have to impress me You don't really like it's us ignore. You're stupid. It's not a signal, you're rich. The signal that

are starting to be rich. Is that you didn't do any of that? That's my point. This is that I rams Asia. If you ever log in to public wifi, stop what doing right now go to your appstore and download the cyber go step. You need this now to protect yourself and your kids from hackers and slippers trying to find ways to get your family's personal information. It's less than three bucks a month for protection for up to seven devices. That means you can download it on your kids devices to so download the apt. Today, you can't afford not to go to your

store and download Cyber gouged over thirty four million. Other people already have hello, Witherspoon, New Jersey, a knowledge of welcoming the you. How are you Dave better than I observe? What's up so much I've been in the military, and we have found out that were moving this summer and it's not a surprise with every three years, every three to four years, but it's looking like one and up North Carolina? We

home here and would think so what we would like to sell it. Agent waterfront seventy nine and a real estate? You told us that we could probably gatwick for thirty two four, fifty four good ominous in good condition. Sailor excited about that. Yeah? It's a lot owning homes are till. I get. My next question would be now North Carolina is in our future. Ah good you suggest buying your ranking, how long do you think you're gonna? Be there probably three three to four years back? Ok, what part of North Carolina I would be. I can't lose you and area over its very to ah Jacksonville show, you do is you will have a real estate agent, help you with some statistics and they can

up a pen in the email, ass software typically and say three to a five mile radius of the home, I'm looking at a North Carolina. I need to know two things in the last three years. What is the average appreciation rate? How much of a house is gone? your percentage was the second thing. I want to know is Dio average day. On the market again. And so then, usually they're gonna be somewhat matching meaning if you have a high radiation rate, which you ve had where you are now there are things gone up and value considerably? Typically, it's in a market that's hot which means there's gonna, be low days on the market you put on the markets, on twenty days right inside So if you're buying in an area in North Carolina, that's going up ten a year and you're gonna be. There are three years and the average day

on the market is twenty days, meaning you can sell the thing in a month. It is going up more enough that it will cover the costs to turn around and resell it then that's an area you would buy in. Conversely, if they ever he's on the market or to an seventy days. Nine months means a slow market. Doesn't it and in that area you might find that the prices go up three percent a year, when three years you're, not even gonna, make ten percent you're gonna lose money on this thousands contact nine months to sell it. You would in that area. Wouldn't you get there So if the area is not attached to a major natural area. If it's one our relations and I don't know the lagoon area- the undermine another name Campbell Dream, but I don't know that the area around it.

If it is a small town and ninety percent or eighty percent of the houses that are sold or military you're not going to see good appreciation there cause everybody by there are reports are back on the market three years later. So there's all and over supply of houses? they very seldom make good money on and there's a lot of those military markets around. You do not want to buy one of those markets. You be better off to rent. You see what I'm saying. Author, but in your case, where you are in Jersey there, you in a big Enough metro area that the The economy was more than just the military and so there is not in others. Good appreciation is enough of a shortage of housing that your house, we'll sell, fast and you're going to make some money on your excited about that. If you have that opportunity, you're going then I would buy so what Otto as most of the time in the military you're not going to buy because for the time you're, not gonna, find Mary area where it's going up dramatically and value in itself fast.

If you understand the market you're in the Navy yeah, you may very well have that you do have that. Actually, you just got look at all of those factors and look at those two statistics average appreciation right average days on the market. And I'll tell you what to do so, very, very, very well done, and thank you for your service to the country. We appreciate you are, Rustlers weathers in Florida. High Russell welcomes the Ramsay Show, MR anything so pick my call sure. What's up Did you about three months? I'm all gone all on trying to get out of. There have been a bill Fifty one years old I ve been at my God. Put one of you and I was planning retiring. We pay tribute to my wife, Combined are equally is like a hundred and all involved. We have about a hundred. Forty thousand dollars, array and from my job I get a pension. Now we re download the other

our budget, and it appears We have forty nine thousand dollars worth of debt and medical bill. The house renovation like that- and I am I want on target to retire. At sixty sixty two told the new right now we were wondering, after putting all the information that everybody everybody the budget issue, as we heard about hundred dollars a month left over for our work- I was wondering should I take alone on my for one came forward three be now to pay that off. No, no. Ever bar on you for a one guy, The reason is that the interest rate that you pay yourself is nowhere near with mutual funds inside there should be paid number one

to when you leave the company and you will leave when you die, get a better job or they. Let you off your recharged, a penalty of ten percent pleasure tax rate she'll be hit for thirty to forty percent. If something happens and that job doesn't last as long as that loan lass and that happens a lot now, I would never do that. Instead, I would just roll up much. And I get on a very, very, very tight budget, and I will start lacking my way through this, The numbers you're giving me tell me you're, probably going to adjust your retirement date or when entire you're gonna have another career, lined up one of the two, but you're not gonna, go to making zero money at sixty two years old Europe. To be in a position to you're, not gonna have enough. You ve got some dead to clean up. You don't have enough of an estate bill and so you're going to continue to work at that place or you're going to have another alternative career and encore career. We call it the off the back side and I'm not talkin about a minimum wage

Reader Walmart, I'm talking about a real career for a guy like you. That knows how to make serious money and ye. The need to continue your current career, for three years or so or you're. Gonna need to do something else, to create money which you should anyway you're only freakin sixty two years old. At that point we understood on your, but for thirty years in yonder somethin. So that's just an idea. I. Thanks for the comments Nancy is weathers. Nancy is in New York Nancy how're, you do. Things are taken. My call sure, what's up I'm a nurse in New York City are actually work, both clinically in an administration out. I'm going to have, right now step to? I just have a student debt and I'm looking for a supplement to work and there's plenty of jobs for nurses. Josh on some of them

one want to hire me before they even interview me, and sometimes I feel, a little bit challenged by the patient load or the hey is most high and just not sure, help picky. I should be in this process. I really want to get it done you know about the jobs that are higher, paying and more reliable in terms of taking care of us with patients. Are they just take longer to on board I would take a little bit more time and on board and a situation that your proud of and that you make more money. Your reason for doing this is to make more

money, so taking less rise, a bad idea nearby number two, then you don't ever want to engage in things with your energy in your life in your training, especially in something like about the wonderful career of health care. Where were you are engaging in southern unifil? Patient care is after standards other because the private patient Lotus too high, and you ve got a good judgment on that. You ve been doing this for a while, and you know what you're doing so. Godly prefer know about it. Take just a tiny bit more time, make more money and do something you're proud of you were gonna. Do that anyway. I understand you what you already knew this ever amnesia,

I got a call the other day and I thought it was worth talking about again. It was from a wife looking for life insurance for her family. She asked why I only recommend term life insurance system of cash value plans like whole life. I use explaining how you over pay for coverage, earn a horrible right of interest and don't get your cash value when you die. But this time I just had to go straight disaster dot com and get a rate, and then we compare that right to the whole life plan and she immediately saw the huge savings. That's why suggests that everyone gotta zander dot com or call them at eight hundred three five, six four. To eighty two and get a free quote

if you ve, talked about showing your wholly probably heard throw this from your neighbor who should know it all all the markets. Courage will have no problem salary, while your neighbor isn't telling you is that not even a good real estate market Guarantee your home or sell for every dollar, it's worth the biggest fast that goes into showing your home for top dollar is not a hot real estate market, and we say that again the biggest factor that goes into selling your home for top dollar is not a hot real estate market, its inexperienced agent, who knows, Get the most possible money in any market means they pay your home right, they market it they get by as in the door, and it is so quickly

Not a monkey with a licence is counting on the market to do the work for them. This is a pretty rational who knows how to leverage a good market in care. Is about you getting one hundred percent Holmes value don't lose but using an amateur agent, find it Divorced local provider. Goes out a day: Ramsay Dotcom, Sledge agent or E lp at day rooms for real estate are quite the day comes from blinds dotcom find out for yourself whether the number one online retailer of custom window coverings. You get free both free shipping and with the new promos they run every month. You're save even more useful mocha Ramsay, then you'll get the best deal colleagues in Ohio Dave. I wanted to ask if there is a suggestion suggested a percentage

to save for kids college. My kids are currently two and five were not saving for their college since we're still in baby step too, I want a plan or think ahead. Is there a formula you suggest using too vast in their future. Thank you yes, but it's not a cent percentage like say: fifteen percent of your income and not cause you to retire with dignity in almost every case, when leisure sixty five years old, when you start doing that in but even then it'll. Take you a long way towards your goals so, but but with kids collar We don't know whether your kid is fifteen or fifteen months, and so the length of time that you have to save it enters into the equation. We also don't know what your college plans are for them, and so what I would tell you to do is to figure out what the current cost

of the college, is the university? Is that you plan for them to attend? Ok, my kids, going to an Inn state school they're gonna, go to high O state University, urine Ohio, ok, that Calo how's that university find out what it costs to wishing To go to school, there doesn't include roman boarding but ruin board in there. If you want to know if you wanna do either figures file a mate and then you now you need to put that into a calculator because deflation on tuition is around seven point two percent, in other words the tuition. Inflation is roughly double regular inflation, and so you get your get your stuff going in future Ok, a cash fourteen thousand dollars a year on just made that up on those private, pretty close, though for institution to or how

State University. I that's a year you need, for years of that will be around sixty thousand dollars. Ok, what is sixty thousand dollars? If you have a three, your old fifteen years, from now seven percent. That will tell you how much you need to have as your target then you say what, if I put what how much put in a month in a mutual fun and what are my mutual funds, we're gonna average, and that will tell you if you can hit that target or not so you'll be pretty close a baby shaving about two dollars a month. In addition, mutual fine in a five twenty, and are you say and that'll get your pretty close to end state? vision and some room on board as well. You won't be that far off. If you do that, and so you can sit down. If you dont want do our calculations yourself, you can sit down with a smart, vesture pro in your area will help you do that click smart vesture for any of your.

Resting needs. They Ramsay Dotcom were not in the business, but these are qualified, investing professionals that we have added there's over twelve hundred of them nationally that we endorse and that approach these topic, this topic of investing with the heart of a teacher and they'll help you get that going, but that's how you run the calculation and that's why it's not as simple as your saying safety law percent save two percent, but we don't know where your kids gonna go to school. We don't know how'd your kid is now and that will make a big difference in that process. In other words, if we get a seventeen year old, you know you're you're, there's gonna be somewhat. Duff happening. You're not gonna, have enough they're gonna be working your definite going to an inexpensive school. There can be looking for scholarships coming before seventeen months old. You got plenty of time. I don't know where you are in that game and that's what that will affect the math very dramatically.

Jessica is whether syntax us high Jessica, welcomed that ever empty shell, How are you better than I deserve? What's up? No, I'm ok had been hired having a hard time figures, What could K bird flu? I listened to your point about by down, I was down in body. Tahoe was a year ago. I'm the tenant nine hundred dollar into trade goods. I now my interest, or it might be a good thing for a family. It might be between thirteen and fifteen percent, but we're trying to right away. I not one drop figure it out and get rid of it. Oh, I trust me. You talk to somebody earlier your thing

I hope and believe that when you started at night, but I did for thought out in the car, but you were trying to figure out why we tried to get rid of it or upside down about third. Well, if we vote traded in thirteen thousand, if we do private felt about five thousand by though we have that in Kashmir sixty three hundred in cash and dating, but we ve been kind of holding offer that, but we have a hundred and thirty seven thousand dollars in bed, including by car, but we also it our taxpayers and we already o the IRA. Twenty thousand, my husband that's from an old self employment issue with this EPA honour we're making payments, but we did earth. Tax return the year in the built coming in about nine thousand. How are you missing your taxes so far every year that would side huh here we didn't want you didn't save any money. Illnesses are any money for your taxes. I

because we got married we under shot. The allowance is like I was I was. A lot of allowances is, though, with heat and then when we got married, we didn't change anything, and I have had my from when I was making a like shovel what is your household, an animal, make a hundred and forty two thousand net. We don't listen. This is this. Was the first two February not quite You need to have nine thousand dollar saved pay your taxes extra by the time your tax bill comes, do April proficient, and you can do that. Income, you have the money already saved to get rid of the suburban get rid of the Freaking suburban, its absolute insanity. Ok, now you got rid of nine thousand dollars and you just got runaway you on that Stupid guard

thirty thirty. Six thousand on the table. I saw a good will get rid of ok show. Now: we got rid almost forty five thousand dollars were the debt write in those two things: that's a big move. I'll get. You started really really well and then I would From there and start your dad snowball, regarding the other twenty thousand virus, Roger promote better approach at the front of your dad snowball, but that's after the nine thousand and after the dogs gone accountability or London Those two things have to happen by bra fifteenth and what that car and that tax bill from this year gone and don't replicate this problem, times you had a problem with your taxes. Learn your lesson figure out and start sudden money aside when you're going to satisfy you. Don't you the same house for money. You need to calculate your taxes accurately as you're going along, so you don't find yourself,

every year zero you're living is just crisis to crisis crisis life's too short for that you and I Fifteen percent interest rate on forty thousand dollar suburban This is the river amnesia, are you sure that proverbs twenty four sixteen for the righteous fall seven times and arises again, but the wick stumble in times of calamities, Margaret Heaven said as long as they are well intentioned. Mistakes are not a matter.

For shame, but for learning their course correction and that's what we all that we all have course correct Some of them are more violent than others. For those of us, the printing Tom, I am I difficult by course. Correction is right, while howdy is whether studies in Minnesota, high quality, welcome the diver amnesia Dave appreciate, taking my call and appreciate everything you do. Thank you. How can I help? My question is currently I'm done with one two and three men on getting to the point where I need to contribute within there are retirement led. My question is number one, my employer, I pay four percent to one of my first I my employer matches four percent. Do you want me to save and additional fifteen percent, or should it be safe

in addition, all eleven on top of that four percent, eleven eleven, ok and then I just found yourself. So I still have some questions. I purchased a property. Got some agricultural land Rental land appraisal was to eighty. I purchased her two hundred in May of seventeen and centre of chips. Fifty two thousand of the principal and saw its contract for DE through my family family at three percent being agriculture. I can't get anything from the bank for less than seven should I continue goin through the contract for data. How to use them all, but four percent this kind of abuse in a month now huge fan at all, because you don't own property. If your family member gets in a car and get sued for, have me in dollars and they lose the lawsuit that lean will beyond Europe.

Pretty because you don't own that your property, they do even more I am a legally binding contract as a matter of dignity there are indeed is not in your name, the deed. In their name and Amy assets that they own can have a lean blazed against them. In the event they get involved in pursued or an hour s lean could be placed against the property and even though they wanted to give you a deed, they couldn't give you clear title. So you are in a very precarious position, Ok, you can pay this all the way down, only thirty thousand dollars owed and never end up getting the deed. I didn't realize that they are you, don't of the deed, it's not in your name and when it's not in your name, it's, your asset. You just have a right to buy it. That's what the contractors

and if you continue to pay the right to buy, it will cost you at the end of the contract, zero, because you will pay down the principle. But now I would change the structure of the contract, for aid to a deed in your name or they mortgage against it for the same terms and whatever the paperwork cost to transfer this from occurring back from day to a deed in your name, owner, finance the family member. I would pay the cost for the documents to be drawn up by the attorney, because, with this situation are sitting in his very precarious, very dangerous, you can have the sweetest nicest relative. They got themselves in some kind of an accident or something and you end up, losing everything you put into this. So it needs to be in your name and you dont lose it if, if they have a more page that you owe them and they get into allow food you they could take the more magnetic the morgue.

Why you know someone else, not your relative, but they can't take your property away, so you need to get the property into your name. That's why these contract for deeds are arm land contract. There sometimes called are our very, very dangerous. Jimmy is in North Carolina high Jimmy welcomed that I've Ramsay show thanks for taking a garden, it a question regarding our mortgage right now on a thirty year fixed our payments about eleven hundred dollars a month with a four point: five percent interest we're on the morrow So we want to get it refinanced, I'm lookin at either a fifteen year at three point, one: to five percent or a ten year two point: nine percent the tenure payment

one hundred and fifteen is one thousand three thirteen fifty another. Some kind, a formula that are missing on how quick causing cars and pre paid. What are you gonna quote on the closing cash? Not report, allows for grant for causing causes about twenty nine hundred. Ok, in which alone balance one sixty seven are now. Ok, every one percent that you save sixteen hundred and seventy dollars a year and your saving about one and a half percent, and so that's gonna put you'd about twenty five hundred dollars a year. Twenty four hundred allergy there, ok in an interest savings, regardless of what your payment is. Okay. So if you got here, you got it three percent loan, two point: nine man and you get a foreigner half that's a one. Half spread times

loan a mild. It is gonna, put you about twenty four hundred twenty five dollars. If your closing cautious four thousand dollars it takes you less than two years to break even and everything after that's gravy on the biscuit in savings understand I've got an didn't. You have a higher payment at a at a ten year than you well a fifteen, but if the interest rate is the same, this things is exactly the same, regardless of the payment. Those of you in the natural but wandered around what you're real savings is not the principle reduction. You're real savings is the interest rate savings. Now the other savings. On top of that is the p m. I what fighting and p m. I always said two hours a month, which is nothing but not as high could be ok, but that's it The twelve hundred are another without noisier off roughly yet not manner of eighty bucks. Here, ok, so puts us at twenty four hundred, our twenty five.

But nine hundred and so word thirty. Fourth are thirty. Three thirty four hundred dollars and you closer Gus, you're gonna break slightly over a year, but being Bulgaria, my and by being rid of it I love the ten year plan makes sense, yes makes it run on it. I I want to argue over the last year we really doubt and been listening to you. We ve been able to pay off our deck and our six month emergency fund have neither beautiful baby and I'm gonna be sitting pretty without so here. Your by gas have gone a long way in our lives. Will thank you man, I'm proud of you. Well done very well down, so that you got your act together. Things happening in the right direction? Very, very cool. Open follows a triple eight eight to five five two to five Kelly is whether the role the king, it would no longer thank you.

Drunk put it back on how I can get it Why you gotta get my phone straight now that I screwed up Samantha is on Youtube. If I have an emergency and baby steps forward, do I stop investing again to rebuild my emergency fund. Yes, if you have to have again rebuild a very very quickly, maybe I'm a five hundred or a thousand dollar emergency, or whatever fine fix that and then go from there. We ok I'll see if I can do it. If I pushed the right button I'll get Kelly, which is what I was trying to do in Florida. It's all my fault, I Kelly. Are you carried them our either? I better than others now, I'm short on time. How can I oh yeah, hurry? I'm the financial question, but it's not really for now: Connemara, future oriented and in Florida

we have our Otto Insurance and importer is no Papa day at their livelihood. Geller accident run on I was I was writing my bike. One day, almost two years ago and I was hit by a car. I my husband has thankfully- and I both variable bully very much and insurance and so the lady you hit me. I had been thousand dollars worth of copper at him. We we were covered bad, but my insurance company why do we have an out and out it's the same everywhere else under and toward or, motor I've read we had, I have a question for us to monitor what is about the way the weapon and sank company that at birth do things like that, but he left, even you have to do want to drop them. Sue them or about naturally, when it comes down to you're gonna need legal representation. Sorry, have time to get into the details that

so this hour that I m the books will be back with you before you know it in the meantime, remember, there's ultimately only one way to financial peace and that's the one daily with the prince of these crises is Kelly, since you producer and folks mania. For today, we have to show this episode is over, but if you heard about a product or service, it didn't have a chance to write it down. Don't worry. We list everything that is mentioned during this episode in the pot tests. Show that section explicitly

money, isn't the only thing we talk about around here? Get life. Changing advice on your career from my good friend and career expert can combine all makin 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, it can com and 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 we'll help you create a plan to make your dream job a reality. You matter and you have what it takes, Conversation on the CAN Coleman show hear more from the Ramsay network, including the current common child. Where ever you listened about gas, hey it's producer of the Dave. Ramsay show this