From the headquarters of Ramsay Solution broadcasting from a dollar governmental studios debts that today, Ramsay should work that is done carriages king of all, more taken the place of the Bmw, though status, something under rams you, your host, thank you for joining us, open phones at eight hundred and eighty eight, eight hundred and twenty five five thousand two hundred and twenty five we're glad you're here, eight hundred and eighty eight two thousand five hundred and fifty two five starting this our offers. New Jersey, Jeanette, is calling how Jeanette,

How are you, how are you so I'm calling because at the moment my husband and I are having discuss about what to do with future bonuses that ending of the year, along with next season's income tax the standstill words that you are paying off TAT were a hundred and nine thousand dollars into debt, combined. Total income is about one hundred and thirty five annual the assumption that we should open up a small business. I think we should the debt that we have and how wondering, what's your take on this although I why you would open up a small businesses, if you made more money than you put into it almost immediately the right now you're broke. The exact when you don't go, invest ten thousand dollars that you hope to get back over two years. You don't have that kind of money, but if you can,

small business for one thousand dollars and make two thousand dollars next month in the next month or the next month off of it. About lawnmower, nor your mind grass, I'm ok with that. That's fine, but it's gonna need I've got up occur. It's gotta have an instant Fania turn around on the money. A city or has a cd out? Something basically want to buy a trailer now to move cars by thoughts were going to use. Without the knowledge of the ban by a trailer now, you know I'm looking for now. It hasn't make any sense your twenty thousand dollars back anytime soon, Grab a man, it's aside, hustle and to be doing from Saddam you're not gonna, make your money back for two or three years, and you dont. You can afford that your hundred thousand dollars in that. No, that's not that's not what I'm talking about, but if he could buy a trailer for one thousand dollars and

without knowledge of the next three months yeah do that. But he can't exactly, okay, I'm trying to shake some sense into him, but he's under like that's only made it got out of his bastards to invest somewhere else, out of a faster, that's great, but the butcher describing not faster. To make on a load of cars, he's hoping to make a profit of about a thousand dollars a week. If he buys is trailer, take him secure, much to break even hoping, hoping exactly a thousand dollars a week, so you quit his job,

He said he would hire a driver to basically what about what he could store by paid full time job. This is a fifty thousand dollar your business. I don't think so. I think he wishes she could get a thousand dollars a week, but I don't think he thinks he can his dream. Ok, now again, if you can turn the money around really really fast, I'm not believe in an anomaly that I don't think you go from cold no business at all to a thousand dollars a week and keep that try to roman full time, the logistical. Measure of that in getting enough customers in the pipeline. For that to happen, and if he's got some standing, there rate assign a contract to pay him a thousand dollars a week. We'll talk about it, but I'll bet you does not hinder them he just hoping you can go gather up the clients,

yeah and since its not a Fisher thing, I don't think it's the best more first to make with money that were like starting the exactly I agree now again, I'm gonna go back for more time. If you can get some better proof that this is not a pipe dream, the dishes act. We occurring a six month turn on that money is not bad view, my fifth, thousand hours. A year ago we pay twenty thousand hours to do that. As aside, So when you don't give up your day job, that's not a bad turn. Probably would do that I believe in and If I had better evidence in front of me that he was actually could do that not just wishes. He could do that driving truck? they didn't run a driver and make sales to keep playing moving at a thousand dollars a week. I that's grows and he's got.

Eight hundred dollars worth of expenses in that changes. The changes the whole thing to. I don't think so. I don't think this is going to work. Thanks for the call how are you better than I deserve? What's up so I started watching your videos recently about. LISA's and I fully agree that I should get rid of my car lease. Now. The only tuition was that my car lease is pretty affordable. Three hundred and fifty dollars a month, Toyota Camry, two hundred a year. I could get rid of this lease play or tomorrow, if I wanted to without paying any penalties, alternative is a five thousand dollars used car which, out ask to borrow for what would you suggest Jonathan Money Army You don't have any money. I have two thousand dollars saved up by three yours is affordable and clothes

Now some three hundred dollars is not affordable. If you don't have any money No, because I get about my take home. Pay is about four thousand five hundred dollars a month, so I'm able to You know make that payment, so bad like. I do agree that I should have least long term like I want to get into a used car, so should I judged since this is no strain at all? How much can you save a month. If we wanted to save like your hair was on fire, I could say: One thousand dollars a month: cash for a five thousand dollars car U turn in the rental I could I could give up the least camara. If I wanted to emission or study a month right now, in five months you have five thousand dollars right one thousand dollars car, then

in turn the run alone you're? I could do and there be no doubt involved yet I also have an existing ten thousand dollars student loan that doesn't that's, okay, we're getting out of this lease, I'm with you, more attacks, student loans. We get no car payment, yeah, yeah and inheres the thing if you put into a calculated with three hundred and fifty dollars just do that for the fun of it, I'm about three or fifty dollars. In my little calculator, we're gonna just invest this. I'm gonna pretend like your twenty five years old and we're gonna do that age. Sick five and you keep the affordable, easy payment, that's no problem at all and

dollars would be four million one hundred and seventeen thousand dollars at retirement. I don't think that's affordable, that's what it cost you to give the car company three or fifty dollars a month. Instead of investing three hundred and fifty dollars a month

the definition of affordable than either? This is that I am. She show business leaders if you're not using linked in jobs. You are missing out our Ramsay solutions, company page on linked in as over one hundred thousand followers that our team communicates our current openings too. We also post on linked in jobs, because we know the right person whether an impact on our company for years to come, get fifty dollars off your first job post at linked in dotcom, Slash, Ramsay, that's linked in dot com, Slash, Ramsay terms and conditions apply,

judge whether station and is in Indiana allegation how, with proper education. How are you I'm doing alright. Are you doing deserve, what's up well I'm about to be usable courage for you, My question is involving a pension. Cup network for any more and they sent a four letter to buy an out, and I guess my question is: baby steps right now to pay off debt and I took out as a lump sum, which is twenty eight thousand one hundred and eighty two dollars it would allow me to pay out all over

except for student loans House, except but I'll go to the government and dashes and penalties sober at that second question: that has it that wasn't a smart option, should I leave it as is to where it would just simply exist until I retire, which they're telling me would be a four hundred and sixty dollars a month payment to me. How do I remove the all of it out to put into an IRA? Do you do a direct transfer Brandon IRA and mutual funds, the pension dies with you, your heirs get Shiro. Now they do, they did us they. They do all me that that option there is a survivor benefit with that.

And into a good IRA mutual funds. It's gonna grow at a faster rate than the pension is growing, and when you die you dont lose the money or winch both of you die. The money is not gone right. Ok, so so we all toys, r us because you're better while you're alive and it's better when you're dead, but you to an IRA. You dont cash, it out you don't cash out retirement early, because its kind like borrowing money at forty percent interest, to pay off your debt- that wouldn't make much sense and by the time we get a ten percent penalty brush your tax rate, that's what it hits. Most people is run round there, and so you don't. Want to do to cash it out, but I do want to always roll over when I have a lump sum option and for that matter, if you got it, one k it and all company for a three be an accompanying it with a smart, vesture pro and roll it. Leave. Always take your retirement with you. When you can you ve got better options, more options, more control, you'll be better alive

Better dead Aaron is whether in New York higher and how are you pretty well over you better than I deserve. What's up, so I am in a recent graduate and I make a hundred fifty thousand dollars a year. I have no doubt it off my student loans already and I just don't know what to do. Next, I haven't merged spun and my company does not allow me to traits I contribute to my 401K. I have an IRA Roth IRA as well, so I just don't know what to do. Next, you mean trade, single stocks, so for compliance reasons, right we're like your by mutual funds in your for a one gay right cracks, ok, so that stock, but it does not do not point not right. Nothing, much laughter, actually right, not yourself,.

You came out of school making one hundred and fifty. What do you do? Software engineering or your degree or what, for you, degree, Since I was ten years old sale four year, degree plus some really good experience turns into one hundred and fifty k at what age Well, there there's two primary ways that people build the first layer of wealth, the first layer. The first million to five million dollars and as we It is filling up your phone. Kay, europhile rage and using good grow stock, mutual funds buying a home and paying cash for it or paying off very, very quickly, you're in a unique position, because at a very young age or making an incredible amount of money, very

of your very, very cool. You obviously got a level had on your shoulders who asked this question even at twenty two, not many show Europe, your pretty cool guy show that thing is, I don't know where you're gonna be as far as purchasing real estate. If you want to go by a property and have it the next big goal to pay it off as fast as possible, like within a few years, what you could do that wouldn't be a bad thing. If there's a love interest in your life and you were to get married, you will discover that you have purchased the wrong house. All hate IRAN. So maybe maybe, but I may just very difficult for your new wife when you're twenty seven to live in the house you bought. When you were twenty four, you know

that kind of thing you might be could happen, but normally you're, gonna, move again is just just from the way life works in that situation, but there's no rush. So my first goal for you than would be to save up in pay cash for or welcoming just sit on package for House Mcgovern. Fifty year, ya know built between two yet no

and what you say about coming, what three years of saving a bunch of your income Edith Reform does not want to do that and you between five years, all with paid for three a dove nor house, make that big, ol and reach Fort fast, and then you can decide where you are in your life phase. At that point, where you want to live in those kinds of things, but a stabilized home place, because its paid for and a large investments in the mutual funds into four or one case Roth, I raised this injured, doing there and more and if you were just to do straight, mutual fun, investing which you can probably do that as well. Without compliance because issues, because you don't, I mean control over what buying being bought or sold inside the mutual fun

that would would probably get you were you wanna be a menu. You should be worth five or ten million dollars with time, your thirty five years old and then from there you can decide what you want. Do the rest of our aid of next was gonna, be Brad in Kentucky, hey Brad. Welcome that I've Ramsay show a Thanks for having me, how are you today so first of all, thank you so much for everything that you do. My wife and I actually just started the programme and at night or now, no longer watching tv or watching pod cap a thin and now our financial patient aversion. We can't wait to get that may also not. My question is everything I've looked at. I can't find anything to wear. You talk specifically about someone that works on commission sales, so I make My income is fluctuating each month and I typically have kept quite a bit back in

things to be able to pay for any unexpected tax bills at the end of the year or anything like that. That we would say, is he going to Low Commission mine's just to meet her monthly expenses, so when you get your start in that situation? Should we still just the thousand dollars, or should in our seas can you keep a little bit more back for those things, commission month I always I'm sorry to be twenty five hundred dollars and more is that what is your household income Very so you will probably round one fifty or so you take a pretty sugar cut to get out of twenty five hundred as a low month. Right here I mean that's that emanates growing

consistently each year. I'm not only expect to have months that low I'm just based in a knot basin. On past experience, I well I mean less, let's design a system that working going forward, not in the past, so I mean if you are you really going to come up short any months ever, probably not now if it is an issue where you have some months that you're not gonna make enough for your count for your house to survive, and you ve got a supplement. It was savings temporarily. I of that, not in my emergency fund. I would have that in a separate account, and we just called around our house, the hill and Valley account cuz. The valley. We need some from the months that were up and they were the hill, not a very dramatic name, but that's all I could come up with when you're in comes up and now, if I killed him validation

So what we had some months would make zero sum of twenty thousand would unrealistic, and so we have to cover the expensive. We had a separate from our emergency discover the extreme volatility. If you can cover Stop doing that, I would have any unexpected tax bills, taxes or you can calculate taxes if you ve, turned tv rata paper or been on the web lightly than you know those countries in the midst of an identity theft, crisis Equifax is

empting to settle with its one hundred and fifty million breach, victims and 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 that protection plan, and the only one I have ever used or recommended is from Sander insurance collide hundred three five six, forty to eighty two or visit sander dot com. In the lobby. Ramsay solutions on the death rate, Amazon, Hyaena, warrior hurry out better than others are welcome. Where do you live? I'm Cosmo Pennsylvania go well.

To merge, fail and all the way here to do a dead, free, scream, love it. How much you paid off thirty, three thousand and ninety five dollars and nine cents loved alone. Others take seven half months good for you and your range of income during the term? Well, I'm still in college that wasn't really arrange. I may just one six thousand dollars in seven of months than how did you about thirty three, so I also I rehab the house and sold it sternness time as well. Roca could show your currently in college, correct, studying what I'm a applied economy. Sermon and three theatre chervil major, while german theater and Applaud economist Shreck, none of it? We are really to do the job in the world, so cool, that's cool trouble

your brother, hourly reloaded over them home a theatre side as a hobby. I went in thinking that I was gonna, be a theatre major and realize quickly that I had a bigger interests, picked up the applied economics major in because it was was something I really connected to and then german. I have been speaking german since I was seven years old oak, though I wanted to keep it up and realise that with the classes I was already taking, I could easily moment into another.

Ok. So what the young shows, what the target them, if they applauded economic for good, for you grew so you're still in school, the sort of Mercosur to London, yes, Homer, the story. What happened last January? I guess it was our cousins break. Last year I Canada's realise my parents, him and talking me for a while. They went through a few about two years ago now, and I realise that this is something I need to start taking seriously, I mean with the house. It had always been in mind that I was going to be paying off. I soon lawns, but I haven't been focused mainly, and I had been you no kind of putting a couple hundred dollars here and there towards my soon loans, but it was random. It was just one. I had extra cash and I realise that if I focus I could probably pay it off for I graduated and then summer rolled around and

I was working like sixty hours a week and all the sudden I realized I was paying it officer in the thought I was thirty five hundred finished up. So what's the story on the river beheld remain so as a senior in high school, my parents invested in me. They help me purchase a for closure and I spent the time learning how to renovate a house. I did the majority of the work myself with guidance for my father and also other mentor his long away, and it took me almost four years to finish and sell it

So what kind of work did you do yourself on the shelf? Absolutely everything for your opponent, her you're, an electrician Europe warmer, basically got at it and put in a brand new bathroom put em Brandon Kitchen raided the floors just about everything. Well, that's impressive, and then you shoulda for profit. Yes, that's what it comes down to exact show how much of the thirty three which, from the profit of the Rio, why bright? I got one or two thousand nine hundred and fifty five dollars and some of our went to cash flowing this past semester of this current smarter of college and the rest of it went towards the that milk that I had not paid off My number it's gonna be about half an hour, then you'll be a very good. Very impressive about your parents are thinking you're, pretty cool, I gotta be pretty proud I'd say so! That's who were your butt

cheerleaders, mom and dad well done. So how do you feel you gonna come out? Go would know that it's incredible and three majors yeah yeah pretty strong, and you can you noticed her house down put it back gather if you want to because you cause you you're superwoman, you can do anything. That's pretty amazing Hannah! That's very growler! You twenty to love it to twenty two year olds that are more six more than I ever dreamed. I would be already in this. Our well done absolutely incredible, very cool, very cool. So what are you too people the key to getting out of bed

you probably heard we're having this hold, that free Degree Movement Anthony shot their showing the new book that free degree that he wrote you get the borrowed future podcast trying to convince people. They can go to college that, for Not only have you paid off your student loans, but your finishing school that free with three majors, so obviously you think it's possible. What do you think the secret to that was time management I from the tunnel look up in the morning and I went to bed every hour was accounted for. Very, very detailed good, for you will very wild Don touchdown. I love it. That is supple, go very, very cool, our right from Philadelphia Pennsylvania, we gotta copier Chris Organs book for you. Ready, millionaires, you're gonna, be one about twenty minutes away. You're gone! Oh my gosh, while Hannah

Philadelphia. Thirty three thousand dollars paid up in seven and a half months make an twenty six thousand, including the sale of a rehab county. Scream three He also times I run into all people who were all down the dumps about the future of America. Adam was you just need to listen to Dave Ramsey Show cuz. I meet the future of America Everyday and it's bright There's a lot of Hannah's out there. This is an incredible generation coming up absolutely incredible. Does that cool. Well done, Hannah very well done. Our question comes from blinds dot com, a hundred percent satisfaction guarantee means, even if you mean

measure. You pick the wrong color. They will remain your window, blinds free. You get free samples, free shipping and with an open, mostly run every month, you're even save more a promo code, Ramsay request: from engine lean in Michigan. Been recently thinking about opening Roth? I write but combined, ass. When we make more than two thousand a year, he told me what without being penalized because we file our taxes together. Is this correct? Yes, it is correct, however, suitably more than two thousand argius, and I do one with my wife Sharon as well. Every year, a back door. Irish works like this. You simply open and after tax, not before tax, but an after tax IRA, which you are allowed to do

regardless of income and then simultaneously. I do whatever you and it's actually Mickley a loophole in the law. I don't know how they would ever close the loophole, because it's mechanical, of the way the irish system works, but I'm sure if they can figure out a way to close the loopholes they will some day. But perfectly legal imperfectly moral to do it today, it's called a back, or Roth Irae you're, smart Vesture Pro can help you pull that off. They can help you do that, so just click, smart, vesture, a diver, amply dot com, then drop down list of smart, vest reproach in your area, and you will be able to pick one that you like with the heart of a teacher. You can sit down with them, then, oldest Roth IRA, Backdoor Roth IRA together in Connecticut. I ran shop, higher stay. Thank you for taking

I'm fired up right now so What about you two months ago? my husband died. We are on baby step number two now and my question is this at my employers office. I am already capped with my salary didn't realize it was my fault I'll, come back to you right after this break Ramsey show and

I would draw your land g in Connecticut. I Angie our Europe Please all right now, one more time, you said your job was what you were talking to your captor So what I wanted to know was so basically where I am right now. My salary is going to be capped where I am I'm not moving any further, because I don't have any other. What do I say, the declaration only thing else cause currently right now I am has to do with nursing and I'm not a nurse amount. The ministry defined, and so came across on my always like to do. I like to be involved in trade field work, I actually enjoy plumbing, and I can cross. A wonderful apprenticeship and it's actually a paid program for five years. So my question is this:

we're currently working on baby step number to, even though two steps back to do this apprenticeship program, what it makes sense to go on with it or Let me be the free and then do this poor worm two years later, just like your three years to get out of there. Because currently right now we're just about forty thousand indent, your single No, no, my husband, a nice. We currently household income is sixty five of the year in your forty thousand origin that correct for your bail dead until you're, not three, we must try and will be the others. Hustling would be the point. Ok. So I saw a hustler

get out there and to show what are you currently make myself forty five, and so your husband makes twenty thousand dollars right because he's per tonne because we also have two little children and we don't pay for childcare because it would be more than what we would. I even bring in really apprentice program. Well, currently, it's saying here that it will be anywhere between one thousand five hundred and eighty five an hour or saying that it would give you a percentage of what the journeyman read rate would be, but it does say that the wage rate doesn't. Yearly as you continue to get more under your belt under the apprenticeship program. Forty hours. Yes, it does say it's Monday through

classes at forty hours and does he happy and it is complete and you get a ticket from the state of which I live as a licence to Palmer pays about thirty five grand If you only work forty hours, could you do a side hustle. You mean that a trade job, and we see her probably cannot because it I would need to do to night classes from six p m. Nine p m, and that would be the receives an Tuesday night, but I have to attend that's part of their servants are your house, forty two, and when your fifty two, you wanna be a plumber. I do. No sign as biodiversity. My rejection,

Knowing do ok angel that kind of work? Ok, I think you're reading a brochure to me- and I think that's the only knowledge you have of this programme. I want you to do more restoration and I want you to learn every detail of the programme and what should keep working to get out of that and somewhere close to the point that you're out of that like eighteen months from now? Maybe you would start the programme? No. I would not take that much of a step back today to not make that much of a step forward later and it cost. Can I extend the time of course,. His income now, while you're too

all this to get you out of that that much faster carcinogen free data gives you lots of options as lots of different things. You can do that for me, and so that's that's the plan, then, and that's what I would do so. I think for the call open phones, a triple eight, eight to five five, two to five jump in we'll talk about your life and your money. Aaron is whether in the brass go higher, and how are you and very well. There is good cause your true. How can I help so brief thought back I'm twenty one years old, I'm! I am completely debt free I'll make about fifty five to sixty five thousand a year between a couple, small business that I own, I have my emergency funds This is going is with one of my businesses. I have about five thousand dollars in exotic snakes that we breathe and I got a couple of buddies that are headed to Indonesia to visit the island where these animals come from

and these islands have never been documented. No one been there, except for local tribes and so on and so forth. And so the only way I'll be able to go with the guy's, a good long, guys, video in it my guys the guide is, if I was gonna, be a trip sponsor, then it would cost me about fifteen thousand dollars to do. Why would a cautious fifty thousand dollars to visit this island of undocumented snakes. Three weeks long, one of the guys at going then in Indonesia, seven times, and so he is he's the guy. So that's his contribution to the trip. The other person does Youtube. Ashley and he's going to be doing all this photos and videos, and so on so forth, so they're trying to keep the headcount as low as they can be This is honestly not know it would cost about four to five grand per person info,

They don't really want to know these guys personally, but they don't really wanna. Let anybody else kg along unless the really gonna contribute something towards the expedition I think your body is yours. Gammon. You. Pay and for grand and they want you to pay fifteen to go on a trip with them? Well, what one part of it, though, would be it would be. A closet cell. A reptile business, our name would be the sponsor that work. Do you don t? they see it undocumented snakes. Now I I know what you want to go on a trip is going on a trip you want to spend for grand. You can do that if you want a selfie thousand over the years and a hundred thousand dollars and snakes in order to go. That's ok to relaunch you pay cash for this, but I just don't think you're getting a good deal here,

I don't think your buddies european bodies at all. I mean you play your part. They pay! their part you tag along and I'll, be the garbage. Your sharp I'll, carry your stuff or somethin, you pay my way and I work for you well on their there. Maybe I'm road crew. I think they just saw an opportunity to get some money out of it. I don't know you do whatever you want to do that smelling the smell rat snakes, but I do smell a rat So as you do, what are we wonder? I didn't it doesn't feel right to me from the perspective of I dont think you're gettin, fifteen thousand, I'm almost positive you're, not gonna drifting down Larsen vow you out of your sponsorship. I think that's all just bs, because they just we're trying to get some money from you but the man, you guys all have a common interest. They wanted

you want to go I'll pay, my part, and if you need to give name because as Indonesia, if I have to have a title, you can give me the title of sponsor, but I'm not paying for ex what you guys are paying to go. So you get a free trip out because you happen to know me in talk me into this. I just know why. Why wouldn't do you? Do everyone do man but pain? above your emergency fund don't go in, and I think you need to rethink how they're pitching this to you think they're kind of walking away from these conversations snickering. I could be wrong all right. Man thanks for that puts a chef in the box

This is James. Childs producer of the day ran to show. Once again, you made the day really show one of the top five posts download upon has last get your daily dose of motivation. Inspiration subscribed day if you're looking for fun and article ways to save money in your everyday life. You need to check out the Rachel crucial applaud cash from money export. My daughter read your crew guises rates of crews, and I'm so excited to tell you about. Ipod. Has a lot of you following paychecks paycheck their end ass. They don't even know where to begin that they have this need this want to get in control of their money, and is that you have come to the right starts. So each emphasising at a time of inspiration and practical advice, if not subscribe to the rates of crucial podcast makes region. Today, there are more from the Ramsay network, including the Rachel crucial. Wherever you listened upon. Gush, hey, it's just

producer of the Dave Ramsey Show So it is over but check the episode notes for links to products and services you ve heard about during this episode: