From other quarters. Ramsay solutions, broadcasting from a dollar programme a studio, H day, grandly, show or damaged on pages mortgage has taken the place of the choice they ran through your home. To thank you for joining us, open foams, AAA eight to five five, two to five: that's AAA, two five five two to five Jared is whether some Allentown Pennsylvania Jared. What

today, Ramsay shall I appreciated opportunities absolutely. How can I help you, I've gotta, gonna, loaded, question you. I guess that's why I guess my father was paid in business, which recently Dan Maybe it we work about one point: six million he's looking to retire within the next year. I worked for him for about twelve years. During that time, for about eight years, I've out of sight of the shipbuilding and landscaper he's kind of set this business up the paving for me take over then he retires equipment. Japanese Europe is already the girl, but I was not made. I don't house, but also I want to place the light by the day,

company from him- and so he has talked about possible, taking a shower baby, doing estimates for something like occasion back through the salary at one place, checks on this kind of one of your employer on what the best way to do, do this train that's possible without taking all night tat, even though my wife and I would feel like that, My father, Warhol or even if you like Sorry, if you know what I mean where you would be, that's why you feel that way they are. What is the net profit of the business a year? I'm so it's anywhere that father between two fifty it's been outlet for five hundred then, depending on the year, much had been laid down. So this last, it was really reining in Pennsylvania.

You fifty to fifty some bad years as it is a typical. We is a typical year more like three. Fifty yes arson, male disuse round members, we might even say four hundred. Ok, so for I'm the net profit. Now that's net profit after he Paid himself a salary is that right, that. That would be, but I would say that would be. His salary included in that that would be after all materials and please I got all that. I'm ask stops us here's the thing. If I bought this, business in Tennessee? I would have to you're someone to run it. He has been running it is he be paid to run it still has profit of three or four hundred or you paid zero when we get to three or four hundred zero, ok,

if a run on a one point, six million dollar business that has more you got thirty or forty team members. What about those up? There's only about six of us things people working there if you're running their Verona, one point: six million dollar business by hired a manager to manage that. Would you guess I'd probably pay them a hundred grand, I would say: yeah big black lurking sorted out and asked that I just said I bought this business from him and didn't want to run it. I was an t owner. I might pay. Thousand dollars for somebody to manage a business, it's netting through hundred after that engrossing one point: six: does that sound about right? so, instead of letting four hundred he's probably netting three hundred or three originating two hundred, because you gotta yet take a salary out of that. So this This is not worth one point: six,

My be maybe, but that's a full right. Say I'll blow on the thing. Ok, roughly four I'm maybe five times, what the net profit after manner, what has been paid, not owners, but after management has been paid and owners. Taking a shower done, count known or takes a salary is a manager after that, what you're net profit our terms for Tom? somewhere in that range is about small business that gives an investor at twenty to twenty five percent rate of return on ultra high. Sk Investment like a small business, which is what you want the way out look at it of our venture capitalist buying, small businesses. So anyway, oh, let's establish let let's pretend that we settled on one point six, and you said what it paid now I make around sixty thousand look, I knew said: I'm gonna continue to draw sixty thousand and I'm going if you one hundred percent of the profits until we reach one point six. And I'm gonna run. It

Don't ask too much he's not only that you just going on and by the way, if it profits zero, you will get nothing So if I run it in the ground You get zero you're, not gonna. Do that you're, not in debt. That way. You're paying him out of the profits until you reach? The agreed on price, I think, is prices a lie, but, aside from If we said, ok takes four years of four hundred thousand takes five years of three hundred thousand and you're having died out and your how old on thirty one may he will have been paid out and he needs to put that money and mutual funds and live off of it and that retirement, ok you give him one hundred percent the profits or I don't care in seventy. Five percent of the profits are eighty percent of profits and you take a little bit more ok, but you give a amount until it reaches the agreed a mile, and so we have a

add year, you don't you know your, are not paying your payments because you're still here a percentage of profits. If you have a good year, you're, not you're, not paying for payments, because you still get and presented the profits and all count towards the total, and that way if the whole economy turned upside down and we have to and aid and nobody bows paving for two years, you're not bankrupt, because your in debt to your father in law, or worse yet to a bank, because you bought your father in law with a bank loan yeah. I would not do either one of those I would not do payments to him. I would not vote no payments. To him. I would do a percentage of profits, To ascertain a formula like I was talking about, the two of you agree, what formula up to a set price and not you think all the equipment, if you sold it, offers one worth one point: six. Are you just think the business worth it now? I would greatly equipment the three hundred and then the land another two hundred shop is on.

So you're getting real estate with this yeah. Ok, good, we also that's, that's a plus, that's all That's a good thing and the way the land is not necessary to make money, and so that probably would pay point, six for that for that package, but I would do on a basis like I'm talking about, and that's it the over him. He gets to go home and make just as much as they used to me. That's pretty cool four years or so many banks. A hundred some of that in the mirror. Funds are a large portion of it and he ll have a million dollars or so easily in mutual funds. The live off of the right of return, having shut with Smart, Mr Prodi, and he can retire with dignity,

if one or two thousand a year for the rest of his life to get for their leader to get too are one of the profit is until we get to the one point: six, that's how you work it out. This is that every measure, Where are we all have enough on our plates right? The last thing we need is to not get a good night's sleep. Think about how effective you're gonna be during the day. If you can't even think clearly, because you didn't actually, rest that's one of the reasons I been recommending, tuft and needle my. Family has their mattresses and they start as which the rain and fifty dollars blush try it out. One hundred nights risk free, go to tee and dot com to out they ship to your door for free that, tea in dot com.

One- is whether some Madison was garden. I want work or whether they were amnesia with you Joe. How can I help? currently on baby Sab, three and close the finishing it. I think I need about one more month and I'll be done with big step three good for you, my question that has to do with maybe some poor, so I work for the university and I'm part of that, involved that we take, we put in a little bit towards retirement on their pension system, Regions are being an annuity later on in the future and its employer match, and I'm doing that

of a mandatory withdrawn Your check knowing independent, that's right, one percent- your income six percent. Ok, I always thought, about half toward your fifteen percent. Because a it is your money you're putting an end and its mandatory, but be you don't have any control over it? and saw don't counted as the full six I counted about three you can do every want, if you count or to five of the six than put in ten? If you count it of the six than you'd put in twelve. Ok, ok, so that make it so then my next question swiftly the possibility that I and moving to another job- and I leave this job Now I basically the only two options that I can tell that I have are either Taketh abrasion benefited witches the police, the money that I put in Do I let it They were the pension system with the employer match.

Then start taking it. I'm on their age retirement age. If you leave the university, they don't give you any of the money that they put him. That's right, you're not, I stood at all at any point, saw the way that they define best You need to have two things to have worked for retirement system for at least five years, which I think I already have and then have to be, and I think it's fifty years old, so then, but then why leave say- and I already have the five years- The option I have, then, is the separation when they call the separation benefit which had just them you put in what no return on it. That's right, while sucks. I agree that I'm wondering what do we do.

The longer there, the more likely I would be to leave it there, the closer to fifty nine that you are the more likely? I would be to leave that portion there. As young as you are today. I will just take my money and roll it an I re in the separation benefit. You can do that with any taxes on it. Ok but let me on the boat, but because the your into it and the closer you are to fifty nine, the more valuable the portion that they put in They put in more money, be its closer to the time. You're gonna get it. And it makes it worth letting your money set there being tied up without any control over it. Right then, Do you consider that the age of guideline aware, because right now, currently thirty and what would you go to the thirty eight guideline of That's probably I'm just what finger in the air, but roughly forty five opec that make them something like there? Let's get because that means that fit,

dean more years they ve been putting money and there there's a pile of their money with your name on it through that right that out plush forty five fourteen years from fifty nine in our world a tried little bed but If you live within the next five years, I'd probably just take it wonderful, not make them. Thank you so much. Thank you for the comments we appreciate. Miss Rebecca weathers in Green Bay was Consarn welcomed. The day Ramsay show Rebecca what's up coming clean, I'm so excited to speak with you We have changed our lives. Nine year due to some fun, we are get free and I'm just finishing up that three days ago. I did a lot of research on where to prayer. Fifteen thousand, I can't banks, credit union and my personal finances. Neither my findings was that my personal

finance advisers company offered the prostrate at one point, I southern by open bat account, but ten thousand- and I am finishing up this week- but I happen to ask if this account was is that the ice insured he's about the money Market has not asked the icy insured, but is invest. Very short term and save securities. He also said that I want and ensured think the carpet the rain wait. Point: four percent: would you in the account, but I have, our movement to and ask the icy insured account well Mamma, I'm not chasing returns or the more emergency phone, the network, reference in this discussion. What you make on either one is not the issue. The fact that you have the emergency fund inhabit accessible is issue? Ok, so am I emergency fund is an assurance. It's not an investment, it doesn't make you any money. A main point over one point. Five gives a rib both suck

right and I M just not any money, you're, not gonna, get rich on that account. You're gonna get rich on the other accounts that you don't have to touch because that again there to cover them in case of an emergency united about a year for a one k to fix a car transmission. That's what makes you rich later on, not this account! So I don't I don't spend a lot of time. I mean I'd like to make what you're Megan you know how to get my up and that in a one point, The two range doesn't want I'm sitting on cash, but you know, and as far as I know, who's the money market with what's coming company ever Johns. All trouble that there's another all down. It's a major company market account there's never been one fail ever! Ok, ok, so could they. Pathetically yeah, but I mean they would have had a reality screw up their whole. Money for their money market of veal and be worth zero because sitting in liquid investment, so I don't I don't think gave about

but not a million dollars in a money market account this not if the icy it unbalanced with a major name, Brian that are now in a vanguard and Edward Jones Raymond James. Fidelity and are you start the american funds? These concepts are Nay, mutual funds make their money. Markets are as safe as distinct inefficacy. If five of what money market market crash. The F B, probably gonna, fall because Emily economy has gotten like the worst ever in the history. United States of Bob of those big ones went down so that's how stable what they are and how tired into the fabric of our economy they are. That thread gets pull, there's bigger problems, others! I wouldn't worry about the efficacy part. If you like the return- and you trust your guy, and you understand what you're getting into I mean. That's, that's. A major brokerage And I'm not gonna do business with but day They are that there would be nothing to fear with their their particular ma

market accounts safety. I wouldn't think I wouldn't has date, but my fifteen grand and as far as safety goes but again back to that region. Are we don't change returns with the emergency fund? The emergency fund just sits there in a cigar box in your underwear drawer. That's not the end of the world, because it's not there for the money that it makes its. Therefore, How can you, when life comes out you shop but Michael O money on it, if you want that's, ok, it's not a bad thing is just beyond: let's make them accessibility of it is the big thing, not the returns, so the liquidity, thanks for thanks only open phones, a triple eight eight to five five, two to five found out for yourself. Why? Blinded outcome is the one online retailer of custom window coverings, free samples from shipping new promos use the promo code Ramsay binds not just as in Virginia should we talk,

on the net profit from the sale of our personal residents. Thank you. It's completely up to you. The scripture says that ties on your net increase food around me. Twenty eight net increase, which would be net profit on something that you ball and reason You can do that on your personal residents. Some people take the view almost like an old capital gains law from years ago, and I'm gonna role the prophet into my next personal residents, and so I didn't really pocket the profit. Like, you would say an investment and so they don't tied on it and I'm not mad at you about. I can promise you God is not mad at you about timing win, I'm not sure about giving. I always give women now over give when in doubt, I overtook

when in doubt I live my life with a sense of abundance and generosity and is working really! Well! For me, I think that script, is that over amnesia,

I am sure Lucian Eric and Morgan, where those guys, how are you doing right, welcome or do you guys live Brooking South Dakota Workings South Dakota? What's that near? about an hour North Sioux, ok, cool or welcome to Nashville good to have you guys get to be here burn so you're here to do it that free scream. Yes, sir, all the way from South Dakota. How much did you pay off a little over a hundred thirty one thousand yeah hey? How long did it take you about thirty nine months,

and your range of income. During that time, we started at one o five down a ninety and back up to one hundred good for you. What do for a living on locally to track and feel coach, and I'm at school. Counselor very good, both of you around education that very good fine, fine, kind of debt was this one hundred and thirty one thousand dollars. Basically anything you can think of your normal, very normal, ok break it. For me a lot about student loans, credit cards, car alone, personal loan. I credit medical loan you guys we're just doing everything to anything. We could do wrong. We did I love you guys been married. For six years. Ok, cool! So couple years under the marriage, you look and we got a hundred thirty one thousand dollars a stupid lying around and something happened and the switch flap tell me what happened

one day, air came home to our brand new house than are brand new car to brand new baby, and it was like. Where did our money go, and I said well honey. You spent it and then he brought up day Ramsay and he brought home this big workbook for us to do for now. Weeks- and you know I was It was because I wanted us to have our money figured out, because we wanted to be able to not live paycheck paycheck, but live with a right life. And was really to go through the programme, because every week we learn something else stupid that we were doing so then it was. We just had to stay the course and stick path in every single year. We have done the programme to remind us what we are doing now early moral course. Oh, thank you. Thank you for doing there. You know, but interesting about your all's careers. As a coach and counselor, I mean you're used to running with talking to people that you have to course correct them. And if they do what you told the dew dandy

a better life right, bring cases you know, and so you already kind of new that in both of the way your brains work, and so when you sat down it's like I gotta do this at the Apart, Conor innocence, the grasping intellectual, grasping, evident bees you for your death, we really could students about a ban. Just go: nope, not don't anymore nope. Not do that anymore. I got for animal so you have to submit yourself to a new way of thinking. In any area that you want to transform Owen stuff, you were you working with these students is the same thing. I have to submit themselves to dance of the different than they ve done before, get somethin, I ve never gotten before right bring held, it might go you This is so far and what are you top people? The key to getting out of debt is now that you ve done it, have a budget and stick to it not commit to it be okay to say no, when other people are doing things, I know

how to say no alot just because we knew our goals and then to make sure to call each other out when we're spending money. We should it be put your biggest budget foggy overhead, Thirty, nine months, probably saying no to go visit. Friends on a vacation biggest one, who was wanting to go and who was the one who said now I said no, There are spending the nurse spender, I oh my god, very good cool you guys very good, and thanks for leading the class now that you have people cheering you honor did you people saying you're crazy both, I would say some nice crazy. We like, You're doing but we'll do it our way, but I like what we think you're not but your kind acute. But then we knew we were doing it right wing when we got made fun for what we are driving now minutes. Ok, because we just needed something they get us where we need.

Go in the future. We can buy something that looks a little bit nicer hooker. So you move down in Korea. Also out, we sold are vehicle. What you're, so we saw the pretty new fort escape. And then you're driving a what peaty cruiser appeal cruiser crucial point. Is that it's no four hour for an old PETE acres I don't know if there are any new ones- are often make em anymore. Ok, but its appointed point, bakery enrietta and light around. If you drive like no one else later, you can drive like no one else, rice. Lately. Congratulations you think out of you well done well done, We ve got a copy across shoguns, retire inspired book for you. We want that to be the next show. In your story where you become millionaires and outrage, a generous along the way and you're being mission? To do that, you make good money, you know how to handle money now and you working together and smile and about it. Life is here:

down your gas good job, Eric and Morgan Sioux falls out the go two hundred and thirty one thousand dollars a normal paid off and thirty nine months. My going one of the ninety two one hundred counted down. Let's hear a debt grown ready. Three two one yeah. So does anybody else, water, all sofa regulations? Tony use, Witherspoon Quincy, Illinois, high Tony? How are you They you better than I deserved. What's up question. My mother is sixty seven years old, there's no retirement that'll be left, any kind of investments, oughta be left over to me. I'm the only child She wanted to pre planned her funeral bypass.

Investing in the something or maybe an idea that you can give me onward, put her money. She can afford about two fifty a month does money after everything paid. What should we put? towards how shall we go about doing that? Look, three thousand dollars a year and inaccessible funerals and the seven thousand dollar range. How healthy issue pretty I'll, say: she's got alarm libraries, but her our hearts good on her brains, she's, really and all I mean she gets around really well. So what if we don't necessarily call this the funeral fund and just call it and investing plan obey and she just starting thing to honour fifty dollars a month. If she does for a couple of years. She's gonna have enough for her funeral and everything beyond that. A miser funeral or maybe a little bit of some investment starting to build on the notion of twenty years, and does this turns out to be a lot of money? Ok, so

Just go any up in our area set up about mutual funds or something and exact left tomatoes as the beneficiary of something what happened are behind. You pay the funeral out of it and if she went, to go a step further on this. I am not against pre planning a funeral. I am against pre paid funeral yeah. My my grandfather mother had done that and when my grandmother passed away, they Wanted seventeen hundred from current data on Godfrey Illinois to ship or down there from come, get her on the phone or director appear had stated here. They ve already He paid everything year. Let go. I thank you least, o them that down So in that I made there they they afforded Eartha Shepherd they're. So I don't want a pre paid, nothing in this manner, the brave she wanted to go over and pick out everything and haven't all selected. So you know you know it make it more.

Bench of the next ten years or twenty years or whatever her lifespan is right, but at last she, you can't have it if she really wants to get into the detail of it. Some people are concerned about that, so that She kind of knows. Ok, then everything above that number or for that number grows to as as funerals get more expensive is in their mutual fund is gonna, be left to you guys or she's got it took on a trip, whether something if she wants right into Europe. The laptop. Thank you for your information. I want I'll bet my do. Thou thanks! Thanks Tony. We appreciate you calling a charged on folks

common sense, stop and think the intentional changes the equation when you do that this is the diver amnesia.

Right for joining us Jason, where those in America migration, how're you better than I deserve. What's up think you do to help did we inherited a twenty five percent, find my father tat. A large number of advice as to what to do with it. Whose run on the farm. Well, so we can find a good simple, yet twenty acres piece of farmers, my father was the only one that actually find that he was a thirty percent shareholder in the fire with

was the second generation if I'm, along with his brother, my uncle and now my body to see that he left his fifty percent share to my brother in law. Twenty five, twenty five: don't you watch it worth it? around two sword. He provided that that ensue wearing the form the sooner the little town ISA, Poland. Ok, not super far from you that may not the others. Are the United States resembling who can now I'd like it if it twenty five mile battle today? What will the far? What will the farm be used for now that your father has passed well carrying out his legacy. Now you re right. My father raised all three so right now

carrying out his legacy, raising all three small, very small family, all family business, It's really not incomprehensible Can I m sure why, and why is that his legacy. It's more like a memory yeah I mean he knew. What he was about is what he was an electrician for years and he retired to the war. The fireman that I mean I've got retired, I'm leaving it up to now you have a family in, and you know young children and a life and understand. And now you know your power chickens to. I got it now and played with chicken, but my life struggle is is more of a family issue and I might add that I have never got along. You send out a signal for years with Dr Malcolm. It's issues. Seen eye to eye with everything falling parson.

We ve never never gotten along. So in these, in the serving upon three month sentence. He sat like twelve months ago descendants and I just even now, what does your uncle went too far? but he doesn't really do anything with it now does he want to buy from you and your brother well, I don't know. I haven't asked him personally. I don't feel that he can afford it. I mean, I guess I really am not that person to make you can do whatever you want to do. This is all still fairly freshen, you're trying to work through the separation between who your back it was, and what this piece of ground represents emotionally but you are a minority holder in a piece of ground. No power, you have no control over the situation, This is not gonna end. Well, you that's that

my feeling and I feel like it by if I sold it to day, I could out of that tomorrow, the up- and I think, thirdly, a better legacy from your dad than eurasian chickens, no profit and arguing with your country freak brother in your uncle, who has no money, yeah I left criminal out of the adjective on your brother. You put that in their but anyway If I'm in your shoes, I'm gonna talk to the two of them about put it on the market selling, it never buy, taken their cash and go in there Mary way, yeah. It's that's a pretty cold heartless non emotional statement is how that field when I set it out loud, but at the end of it is land does not represent your dad's legacy and the chicken, does not represent your dad's legacy, your dad's carrot and who he was a man is low. You see. And when the Bible says, a good man leaves and inheritance to his children's children.

Does mean goods and money and wealth, also means the character and the work ethic and the man that your dad was and him having a piece of that land going towards you and your family's future would make him from Heaven. I think I agree, and so I'm I'm thinking it's through these things fairly quickly and my emotions, because I've done them so many times. But and it's not my dad, you know your dad. So it's a different thing, but I thought Give you spend some time praying this through thinking this through talking this with your spouse, I'd be with your pasture for wisdom. I think you're, say. Ah, the few Here is what we need to be aiming at, not the past year, which tells me, I'm putting this thing on the market with the other two permission getting it sold

handing them a check after we get their signatures. I'm sure your brother, in your uncle If your uncle wants to buy you too out, that's fine. We know your brother's not by anybody out, not what legal money anyway. So unless he's got some drugs dash lengthen, but I'm kidding, I'm being sought, Stick, but that mean, but why the I think your uncle might be a player, but out. He is from based on what you said. So I think everybody would like to have their money and go on the only issues first generation ground, but much We saw my garage place when she passed I'm not upset about it. I understand it was fifth generation ground, fourth generation ground, but my grandpa already subdivided most of insulted, often a sub vision for he died. So intellectual party Things gouge stuff goes stout. Stuff comes

stuff goes land included show, but we do get pretty emotional about our dirt. We Americans and where are the countries due to generational? family ranches forms, whatever places those with anger that they mean a lot to us personally and I'm no different, but you Look at the situation and go houses five years from now there's gonna be a blessing. The answer: is it marked? James is in Houston, high James welcome other diagrams Asia Data, the gun, better than I deserve. What's up so I am currently on aid suspension for my job by working at their work in about three years, we got into an argument with one of my superiors. Are you aware- and I was on the of used clearly? There is one month suspension, but there had been

going on before that happened that led up to that that I've been keeping to myself. Basically, I don't respect the people. Work for, but it's really good job and I like to work savages, when a European on whether I should go back, there are even let me try to find a new. I saw my famines and down in Europe. These are all I say you don't like. Some how old are you? Ok,. No, you should not go back there, but, most importantly, is not those people or what's wrong with them. Most importantly, is the man in your mirror, he's gonna have a lot more to say about your feet. Your success, then who is your, isn't a jerk at the bar at the workplace,. What were you making about forty five doing what

industrial bakery. Well, I mean not afraid of work, but you ve got to control the your mirror and his mouth. Does he get you in trouble right right and all of us have gone through that growing up, and sometimes we grow up it we force under the group at fifty four sometimes is fourteen, but most atomic lighter than that I think you gotta say what was my part in this. Let less pretend that body over there's a jerk incompetent and doesn't deserve respect. Ok, let's just pretend every second, how you react to that says more about you than it does them that makes answered me that's I concern if I knew you gotta work on that part, That means getting a good church, whether maybe a guy's group, Democrat Bible

learning the control your temper, because that's what controls your tongue I've dealt with that myself as a younger man. So I can relate. now I use now use my mouth for fun, but it was always so my brother. This is that I Ramsay Shell hey guys. It's George Camp host of the day Ramsay Show video channel. You can now listen to the show on your smart speaker. Just tell your Alexa or Google device to play the day. Ramsay show more find out all the ways you can benefit at Bay, Ramsay, DOT, com, slash smart

you ve, got questions about retirement, investing becoming an everyday millionaire, go beggar and broader, with my man, Chris Open on the crucial venture. I M excited to be able to talk to you all week in week out we're gonna focus on your calls, and it's going to focus on building well investing and how to become an everyday millionaire subscribe to the Christian and wherever you listen about gas hates me producer of the day, Ramsay show this.