From the headquarters of Rams recently broadcasting from our car. Reynolds videos gets that day, Ramsay Shop where that is down casual paid, although mortgage has taken the place of the Bmw as the status of all, of course, I'm Day Ramsay your host. Thank you for joining us. Open phones, AAA eight to five five two to five, that's triple eight, eight to five five, two to five. Farming authors hours going to be Brandon in Maryland, I Brandon welcome Ramsay show how are you?

are there not deserves our? What's up I'm going tonight were. Very keen could be on opposite sides without having a credit card. The glee after I build your page months, have a surplus of about four thousand dollars and say that every month point she likes to your credit card. I've got my luck. I can't you, I'm bored and choice Do you know what I can do? Maybe opinion on how I know about talking you're about it? Why does she want to credit card? I don't know he didn't give me a lead in, but I then I believe that after reading your blog, it course there It is essential that if you have a credit card, even if you have the chance to pay off, it's not going to spend more on like if you actually

cash in your Edward you're, using your debit card obligation is not here. Side of it while lingers? It's not your side of it. What you just declared, where actual facts show it's, not your side, but that doesn't matter remain. The question is: why does she want to credit card If a debit card will do everything, a credit card will do. Why does she want to credit card yet needs new to me the question, then, if I give you a debit card in your able to do the exact same thing, you're able to do with your credit card, our budget operates exactly the same way. There's no limitations put on you that you, already have on you by the two of us working together? What is the objection with a credit card and I guess you need to find that out, because what amounts to a judge stabbing in the wind and you don't know what you're you don't know. What you're aiming at here shall gain to find out.

Why is she feels like she needs a credit card, because my guess is that ship We have some bad information, yes and I concur mother, I told you that you should work to be done now, Clearly such a big deal also worry if somebody tat down to shopping around five hundred dollars and watched them here what her mother thinks per month Obviously a fool: ok, that's not the issue! The issue is: look at your wife. If the lady that you're married to say, if you had a debit card, that did the exact same things that a credit card would do. What is the problem with that right? It won't do so now. Hopefully I can talk in the future. You get you down and I think I think you can give us an answer them. Cause she's going to say. Oh I what the airline miles, which is a bogus argument, because

Twenty eight, a the airline mouser, never redeemed, if you do not want, to redeem them. You end up sitting on the wing and you go through Seventy three cities to get till one location? You will find out how badly you ve got screwed by that great lie or I've heard that credit card is not as safe as the debit cards are as safe as the credit card. Another lie because if you actually gone Visa and on Mastercard's website there was called a z, Oh liability promise to you in the event of fraud or they have with the use of your debit card or your credit card. You have the exact same coverage. You are not liable for people misusing stealing your identity, fraudulent, literally using your dot. Your card, you have the exact same

rich there. Ah, I can't figure out originally used. One shall, consequently, you don't have one. I don't have one and you do spend less with them card, but you shouldn't even less when you use cash. I personally use both. I have always gotcha Rhonda Dollars, my pocketing cash nominal redneck. I like having to three hundred bucks in my pocket and on no matter where I am then of always gotta couple debit cards, one on my business and one on my personal account and there's money in those accounts and I travel more than into a you, put other both for pleasure and for business, and I really don't run into substantial issues with a debit card that are different than you run into with a credit card. So I mean they all get you you have to talk. La member. So often now, with the idea of algorithms, your banks, not he's gonna reissue, these think pretty consistently whether debit or

read it, but you're not liable in the event of fraud and down you don't you do actually spend a little bit less. The studies tell us what the debit card, because understand your actual using money out of your own freaking account, and so you do have to stop and think about a little bit. Unless you have, let you get hurt thousand bucks, you're freaking checking account you stop and think. When you spent in five grand in oh, she really does a thought has to go through this process. Hope that helps open phones at eight hundred and eighty eight, eight hundred and twenty five five thousand two hundred and twenty five Canon is in Texas outcome of that I Ramsay show they are either I deserve merry Christmas, shocking to help you to pay. You saw only three years old. Look above Woody Grand a year.

Married life work some around twenty five, I would say, as save all my life, I started work and his team the fifty five thousand in cash right now. See I just sitting on that. I hate spend the night, so I had that has about nine thousand and 401K is in a house addition about six thousand five hundred. There was good for you, man. I think you have a truck It's only about two thirty mile I got about several thousand left on it, and my wife has a brow eleven. And stood a word that costs about hundred twenty bucks a mild come what may be the favouring such counter stick learn spending and I save about a thousand dollars. So I dont know, is what the nearly twice mom and dad smarted is paid

I want to be done with it or the thousand hours of self employed drivers peace that, each month until I retired break it down you shortish method, to building, while others to the common state that free, where you have no payments looker, shall what I would do. If I woke up in your shoes, you ve done a wonderful job, of saving and the two of you need to start working together on a written budget and start investing, not just saving. But yes, I would write a Czech today. As soon as you get off the phone and pay off your student, only drop Schofield really good The need to set aside the sum of the rest of that money, three to six months of expenses and called out your emergency fund the other money vanished for investing or for you know, if you re a purchase, something you're, something as your continuing the long you're doing a really really good job of saving way. The game at twenty three well done, but I'd be dead free in about twenty minutes, from right now, ratio

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You were joining us America's covered all the hospital when the new babies born. They say it's a boy. It's a girl, they never say it's a leader. Leaders are not born. He's a born later. No he's not know she's not, Such thing as a born later leaders are built. You decide if you're gonna put the character qualities into your life. The skill set Pull skills into your life that allow you to lead.

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Text Orlando to forty four to twenty two, and you can always cholera. Eight hundred and eighty eight eight hundred and eighty eight two hundred and twenty seven three thousand two to and three Chris, who are thus in Washington, Ichorous welcome to the river amnesia good. I do appreciate this opportunity to talk with you. My pleasure. How can I help you my pleasure a move on contemplating making we are always through debt free and we're closed relatively close to paying off our mortgage and we have enough in our is that once we have several investment accounts, several other MAR the one where we have paid our taxes on its glowing and others and I just haven't a hard time really what patient out paying off the mortgage under our plan off, I see the opportunity to I

Be able to pay it off right now and I'm just curious about you walk me through my thoughts on about you- walk financial me through my thoughts how much Non retirement investments, none so Not lately replied. Would it not be penalised because you're, not an IRA or for a one, gay or something like that? Just for you have read or investments that are not in a retirement again right correct how much I have about a hundred and thirty thousand in those two accounts. Is the balance on your mortgage. Seventy two phone, ok, well, based on what we teach you would be dead free by the end of this phone call. Okay, I would never have I borrowed on my home to have invested in non retirement investing

And I know you didn't technically do that, but by not paying off from a balance sheet perspective, it's exactly what you ve done right, ok guy and I can buy into that- I'm just it seems, like you think, I'm just not a place where the place in our house where I really do based on our house, where I really do want to see all this yet and I feel like I'm, not the ability to do that. Then I can look at this week this week, but before group, before Friday, night I'd be dead, free, Nelson, everything To release you ve been doing all this analysis with your mind, only your brain and risk is measured in your heart. You're gonna have a sensor released when he put his house offered unanimously coming last year to love it and then, when you don't have a house payment Europe Seriously poor, although the cash we want a poor in any kind of an investment and any generosity that you want to do and those that you prosperity come from. All of them, they average millionaire when we did our

Oh you air! When we did our study, our largest study for the millions of millionaires done in North America for Chris Shoguns book, every typical millionaire has paid off their home in ten point two years and the first, the people five million first net worth or a fat man, dollar net worth or last worth one in My internet worth comes from paid for house and for a one day, that's worried typically has come from now you gotta, but beyond five million. If the other stuff works- about where you start doing, where you investing, because you don't have a house payment, and that are probably where you are your sound, that all held or you could be one there. You're gonna be citizens, some serious gotten, dude you guys, you got the math on your side. You a lot of time left a really seriously dismal good stuff. God be dead free today to look at your budget, you and your spouse and say ok. Now we don't have been payments. How much do you want invest? How much do you play with and how much you want to give

I work and how much you want to give an led less do some of all three all the time enjoy money, give money and question. Alex is whether such taxes high Alex Welcome today Ramsay shall be better than better than I deserve. What's up already had on a car. You know that I was paid off wordy I was old and I wanted to get getting canal vehicle and I wanted to get on your but right now I barely had like a year with the loan and I'm trying to sell it the Cologne and I'm trying to accelerate their devalued super low, and then I went to car and the values are giving me is probably like four thousand five hundred.

Mama lectures over your wholesale de elbow gives they gonna turn. We saw the car for profit, so what you need to do is go to Kay BB, Kelly, blue book dot com and look at what the private sale is. So they offered you four thousand five hundred dollars a car max, and what do you? one, the car right now, it's ten thousand four hundred and seventy four there. Now you have to pay on falconer country there. You don't you don't, because you're not gonna. Do that deal! Ok, but if you did a private sail on this car it'll probably bring seven thousand, Please put every language will now: what is your income, my income throne,

one problem by the girl we do for a living. If he can t treat you're a teacher, he carried teachers aid. Ok, yet your single! How many children do you have. No children! Ok, I'm trying to get out of this loan. You know, because I'm trying to save money for maybe or how my journey on believing it alone paid off. So here's what I wonder if you made an extra eight hundred dollars a month, working an extra job or three, and put all of eight hundred dollars a month towards this car. You would pay it off in one year and by next Christmas the car will be yours in space for it and that's what I'm going to recommend cuz you're, stuck

and selling it and being six thousand dollars and out of five thousand order for Thou version, there is not going to fix your situation creature, income and dump at all on this car at and clear as fast as you can get up and never bar money to buy a cardiac arrest, your life, there's that ever amnesia It turn on the tv read a paper or been on the web lightly than you know: countries in the midst of an identity theft, Crisis Equifax, is tempting to settle with its one hundred and fifty million breach victims.

Capital want expose the records of over one hundred million Americans. You can't possibly still think you don't need identity theft, protection. The only way to fight it is being prepared with an idea of protection plan, and the only one I have ever used or recommended is from Zander Insurance call, eight hundred three five six, forty! to eighty two or visit Zander dot com Well, if you're not strapless stood alone payments odds, are you know someone who is millions or having to put off things like life, because you are so deep in the student loans debacle that is out their students across the country learning that they do not have to get trapped in this student alone, epoch

oh you're, that we have an american today and we ve launched a brand new. Eight episode, podcast that now over a million people have downloaded called borrowed. Future was one of the top pod and all of twenty nineteen ADA sounds, and you will have your outrun around the holidays, the chance for you to get your hands on what's really happening student loans, world It will allow shock. You now predatory this message. Behind the scenes, folks, whistle blowers and people from the industry and people like Mark cuban surf golden me, Ramsay personalities, Anthony O and we're gonna unpacked Holstein low mess worry, it's called borrowed future of courses on Apple pod, gas,

sun, spot a fire wherever you listen, the pod gas will be able to get it and jump in check it out. So here's the deal we took most of the summer off on the debt free screamed because we were moving into new office building. Today is our last day of taking debt free screams. We took both the summer offered every screams. We were still in the show, but we'd endeavours games, because the buildings under construction- and we have people- go in the lobby. Alek hushed up. So we came up about three. Let us for months last of delivery screams this year than we usually do typically dead, free screams on the air doing there that fresh, green by phone or in our lobby, add up to around forty five to fifty million dollars a year. This year. We still did thirty seven million thirty's, million seven hundred sixty dollars and forty seven and sixty two.

Thousand four hundred dollars we get up. Thirty six million seven hundred and sixty two thousand four hours paid off in twenty nineteen with our dead free scrapes, that's on the air screaming dead free. Can you possibly imagine if thirty six million on the air did their debt frisch grooms? How many out there more there are and how much more there is. I mean it's it's it's hundreds and hundreds of millions of billions pretty amazing. So thank you and congratulations to all of you, because that was our last that free scream last hour for this calendar year, because tomorrow is our giving show and on then we be done for this year. You begin investors after that, baby does mean Santa Claus, were bodies would be hanging out together they drink and some of his hot chuck

I'm just saying so the jumping on and just congratulate all of America. The six million seven hundred and sixty two thousand four hundred dollars paid off on debt, free screamed writer on the air, absolutely very, very cool, so I am pretty fun stuff, pretty fun. Stuff so congratulations you guys any year in out at usually forty to fifty somebody, even over fifty million dollars, But somewhere around fifty million dollar mark every year, because we do want an hour, you, fifteen hours of shows our three hours a day five days a week and saw the most we could possibly get in you know, ends up being bill, how much people pay off, obviously, but up upward of forty to fifty million dollars and were very close, even though we took a couple months, often that free screams so funny stuff. Thirty,

Six million dollars bite off with go you guys we are so proud of you, Joel is weathers. Joel is, of course, in Indiana Jones. How are you well. They have our you better than deserve. How can I know I have a question or not a traditional for one day and wrong or one case my wife and I we are get breaks up at the house good and I have two hundred thousand and unconditional Bore one guy. My company does match both the irregular and the wrong. I don't have the money to pay the taxes to convert from traditional giraffe today crack should, I still just go: Eddie contribute to Iraq war. One cage started zero and lead.

Traditional, yes or at that. Yes, sir, I would start in twenty twenty with Europe for a one cat being Roth from this point forward and of the matching portion is always after taxes. Well, it's not wroth and are before taxes taxable as well, so you still gonna have some adding up. That's not because the match this Roth, but that's ok and then some day when you get your homepage off, if you want to turn around and convert the rest of it, Roth Yogi you'd have the extra money to pay taxes to pay the taxes that create. You could do that at that time, but I wouldn't do it until you get your house paid off and want to create another bill for you right now. It's not necessary to get your homepage off. So, even because I'm not the compound interest did not

either. The compound interest is exactly the same thing now. It's exactly! You must understand our camp out. You misunderstand compound interest works. Ok, if you open for new accounts next year, the total is common, you're not losing any compound interest. If you took the four hundred thousand are another two thousand: you ve got and put it in two hundred separate one dollar again: you will have the exact same mathematical results at the end If we leave it in one lump, the lump sum does not cause the compounding the time and the interest on the money is what casualty compounding. Ah, that's: where are getting up now? Thank you, yeah you're, not you not losing a thing on that. You're gonna, just fine, and so from this point of order I have tax free growth and the others. Gonna

Ten compound, but now what's your not what you're not going to see is the nominal dollars in the wrong side grow, but the let let's say: ok, let us do it this way when you make a combined to twenty by ok, so they say thirty thousand bucks goin in next year. Ok- around number, so thirty thousand dollars was gonna, go either on the traditional or it's gonna. Go in the Roth! That's our question there was posed now. Thirty thousand that goes in next year, regardless of where you place, it is going to do what the thirty thousand is going to do. For me, I mean if its, if it grows ten percent, the thirty thousand that you put in next year. If you put added to the traditional the authority you put in a ten percent will grow by three thousand. If you put in wrath right if it grows by ten percent, it's gonna grow by three thousand

the two hundred that shutting of their already. If it grows by ten percent, is gonna grow. Twenty thousand say I want a mean that their did disconnected. So you're gonna get three thousand dollars: growth on the authority and twenty thousand dollars growth on the two hundred regardless. Of whether their together or not so tauntingly. If it's ok, if it's too uttered and thirty thousand at ten percent. What would you get you get? Twenty three thousand, a great great, that's a lump if you left it in traditional if its thirty thousand over on the side. You get three thousand right right. If its twentyth two hundred left over in the other count to ten percent and that's twenty thousand right right, twenty plus three is twenty three got. The

Zack same growth of two separate piles as you got from one pile. That's what I was my point was that that might that work at home that makes them look Anko, works. That's why compounding doesn't have to be in one pile to give you the result is in all ends up in one pile and that's the beautiful part of it. So very, very cool. For the call man and merry Christmas to you, don't really good wow. What a great income then, what Our money have already been proud of. This is that amnesia

fashion, or should I say forty thirty one day who wait for the lower renew their strength? They show Mount up with wings like eagles. They shall run and not be weary. Not faint it is warden said there are two ways of spreading like to be the candle or the mirror that reflects it Shawl is on the line he's in Ohio. I saw. Camel driver amnesia. Yeah hey! Do I what's up? Is our quick question here think my life and none more weight than the one hundred and ten thousand Arden stood alone? I'm Suleiman known forgiveness bore him, but she has kitchenette alone

school for the next ten years, and she asked me to Father taxes married but separate. Therefore, a camp of money in Iraq. I re, shut In addition, I re Amene and effort and your switch to a robbery, or do you recommend a really bad lose what your household income? Ninety five thousand indicators to launch officers can stood alone. Forgiveness is not working. Thirty, seven thousand people have made application together, stood alone, forgiveness done under the programme she's under ninety three,

She's not going to get along for you to say. Maybe I shouldn't even invest anything until I pay off as fast as possible for both roll up. Your sleeves put your budgets together, live your lives together, married filing jointly and just get these student loans paid off as soon as you possibly. Can that also frees her up to do whatever she would want to do with her career or other than dumbing down, possibly coming down her career in order to align with a federal program that is basically screwing people. So that's what your face I hope that option or sorry open phones, a triple eight eight to five five two to five Annie is whether in Rhode Island I Annie come to the diver amnesia. I do. Thank you. Take them call really quick question put it so well, encouraging all the young people do not get the credit cards.

Now then steady, no one move out and get apartments and saying we can't get apartment without a credit score Mamma. Do you think we're supposed to do, and I don't know what the answer is? Yes, They have to look at a different apartment than the one they were looking at me EL the apartment wash their that Germany do absolutely credit score. Absolutely. Basically, what they're looking at is a corporate situation where in a twenty eight year. Old is the property manager and they ve got bosses in another city. They gave them strict guidelines on how to rent this corporate apartment, so they may not be able to rent there. They may well to talk. Way through it and go hey by the way. The reason I'm no credit score because I have no doubt which means companionway stupid writ, which make my excellent tenant, not a bogus tenant answer in electrical stuff. That begging talk their way through it.

One, but you may have to deal with a more traditional landlord furnishes I own a whole bunch of property, and I couldn't care less when so much credit score is one you're in a move in what we do in the now shouldn't whether they actually pay the frequent orient. That's all we care about and the credits gorgeous relevant to me not want a bunch of Baghdad outstanding. Obviously, but I'm not proud of you. If you have an eight hundred credit score, a major programme of two carping which stood alone, common insurers and credit cards gonna were much room but by Maria that's, how you look at it as a landlord, but I'm actually and knowledgeable landlord on not reusing policies. In pursuit, Yours I'm using wisdom. We make a decision on putting someone in open phones a triple eight eight to five five two to five Scott is in Florida. Scott. Welcome that ever amnesia thinking taken Michael absolutely. How can I help.

I have a question regarding from investing in by I'm twenty seven that free to improve. Ok, due you, the Ngos and the does more than make sure the trajectory is ok with What I've been doing, where I hope to be added at the moment on having cast doubt on the fire got to irish and ass, a mutual from investment from the side. In addition to me, can't life insurance policy which is worthy of my question because I know your opinion on whole life policies, but I wanted to see that your advice on this thing with an accomplice policy is good, investing and good family planning. Now I'll do any info.

Sing inside of life insurance. Ever I've never seen a policy in forty years ago. What I'd do there has good rate of return after I dig and all the corral: now they present a lot of stuff out on the front of it, but when you actually dig in and look at the actual rates of return after all their fees, you don't make any money. So no, I would buy term life insurance. I would never use a life insurance product as an investment vehicle. Never there's not an exception, never so yeah. I would be getting term insurance in place if you need something to make once your married make sure that you're wanting his wife is taking care of something should happen to you and then I would drop that stuff as soon as that happens now, if you're worried about insurability, you don't want to drop this into you. In place, but now we dont use we'll use life insurance in any form, any name in

brand anything as investment product, and no, I don't own any of it hurts so much. I know they were Abraham's. You secretly owns this stuff because that's what wealthy people doing is like it's dumber and crap course. I don't own a whole life policy. Investment policies on this is ridiculous. I'm dyin is in Ohio, I Dan. I'll come with a diversion shop. They may occur Junior family I'll, make his quick, ok a few years ago. I got in some real estate, investments in despots and properties, parental and, quite frankly, you know those, though property by Bognor? Anyone combat it brings me is necessary, where our family a married, and there are twenty two years I've got seven children. I. I'm selling one of those properties right now on three clear, so completely clear personal debt, but and I have to add on

the rental properties, but, like I said the name. I want your advice. Forget how many run properties to you on that have their on them we'll talk and rolled into one big line of credit to commercial properties, three residential. Actually I'm selling the one that I own three clear you do and we need to have another like in a blanket mortgage, one mortgage across all the properties levels. On all the parties. That's correct, rap! Ok, yeah, but again, dogging turingi money every month. Here you double jail. I do realise that structure. Ok, Cuz, the problem is that there is never go away until it goes away. So how much do you owe

sitting on the animals. If I combine all five properties, I'm about three, seventy there's one iota they bring me and one of that one of the higher properties worth in total for perhaps mainly for seventy five, when you're, not even cash flowing Lou.

But the time by the time you pay idols payments on that stuff and then you run negative any any run vacancy in you run expenses, your barely breakin. Even what's your interests right on that thirty, seven, five, maybe for between their somethin, like that three eight, some hot- I don't, I don't think you're make as much much you think you are you're under the illusion that supporting your family and not out I'm Colombia S, young of equity there to generate the cash flow spread that you think you're generating ITALY. Wouldn't the man work. Unless you get some very unusual properties show knowing you know what you're everyone do I'm really do towards becoming debt, as you possibly can and keeps him This don't keep some of it start to move in that direction. What your household income is, but it's now three

Her does not with equity of it. That way. Our that I Ramsay show in the books will be back with you before you, not John remember, there's ultimately only one way to financial peace and that's the warp daily. What the prince of peace, issues hey. It's Kelly assess you pretty certain facts benefit Abraham Suchet. 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 a section explicitly

money, Isn T always when we talk about around here get life. Changing advise on your career from my good friend and career expert can combine all makin common 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, you can call me show is for you, everyone has a sweet spot. Yours, Spot is at the intersection of your greatest talent in greatest passion. We will If 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, join the conversation on the can com and show hear more from the Ramsay network, including the current common shop. Where ever you listened about gas hates me producer of the Dave Ramsay show this