Live from the headquarters of Ramsay solution, rod casting from a dollar Renault Studios, Dave Ramsay, what that is done in the aid of taking the place of the Bmw as their status symbol of George, I'm diagrams. Your host open forms a triple eight eight to five five two five, that's AAA eight too. I've five two to five

Starting this our offers Blake in Tennessee. Merry Christmas, Blake how're, you America's Dave. I'm good! Are you doing better than I deserve? What's up so rich, I had a friend that passed away and left me the ban sherry on his lap insurance policy. And I haven't got the money. But when I do, I just gonna last as to what I should do with it in you now move forward on every side. Wow, that's unusual! How much money about eighty thousand Lou I'm sorry for his passing what a wonderful blushing for you absolutely so are you making our plan. Yes, sir, I am Ok, where are you in the baby steps one day be set number two: ok,

Do you have left and babies to have two? Seventeen thousand? That's all! thousand on a car, and three thousand democratic are ok, Well, he's gonna be used first, for that, isn't it then baby step? Three is three to six months of expenses: what's your household income, forty thousand not sure if we made ten thousand your emergency fund as twenty seven of our eighty is gone, as are some sounds pretty good now around a baby step, for you start put fifteen percent of your income away into retirement. You know how to use the money for that young kids. Now kids skip we should have five how much you own your mortgage, eighty thousand bless jumping in it, but I'll stick with the way

Stabs. Ok, so once were putting fifteen percent of our income into retirements. When the Czech comes any project Papua right, ten thousand earthborn an emergency fund, that's done ok, seven thousand of the eighty are the other thing I would do. If I were in your shoes, I, like the them of life. You start hitting your baby stepped forward beyond all ways, including in a teach kids. This my children, when they were little and teach athletes who make tens of millions of dollars a year this The rhythm of life should always include three things with money. You should always give some. You should always lived some and you should always invest some. And so I would take some of this money and spend something that you are you married now or not. Or something you want. I don't care if it's a great and a car, a trip you been wanting to take

I and anti gun you want to buy. I don't care what it is. I don't want. You spent fifty some bucks on that item, but I think five or ten dollars, you auto, enjoy a push. A portion of this money and then I tell the rest of it. I might- and I might take some money from some percentage of it and give it brought and honour to be allotted just needs to be that your prayers Sing living giving in investing always live giving in investing and you need people who don't do All three get out a balance. They become savers only to the point they ever enjoy money and they're, not generous or they become general other irresponsible and they retire broke and they have to depend on the government, and so you can't keep you gotta. Do all three ok worship, you spend it all on living you're, just a typical american right. You spend everything later Congress, so we're not doing it. Do

three give some enjoy some and throw the rest of the house once we ve got need a baby step for us, and I think your house, or probably paid off and therefore more years, if you do that, cause you're only gonna, be like forty thousand dollars out on the house, then give or take. A girl, you don't like it. I mean I've spent five on you and you gave five or ten years while the rest of the house, well in my plan. If I'm in your shoes that cop left illogical to you, Sir, does a man thanks for the calmer Christmas. Sorry for the luxury of root tries whether some Missouri Troy welcomed that ever amnesia gave me such a pleasure. To talk to you and I'll, be in your family. Have a very merry Christmas, your treasure! How can we help. Can I have a question for you, so my wife and I just God, baby step one done today we were not.

We got your books were reading them together, a machine overthrow truck driver and she's a stay at home. Mom so sheep premium has aside business notion, tat kind of a shared inside side, business and she's generating some come every other week or so, but we want grow this business. It's like a baking dessert business. We live in a smaller towns where there's really now a lot of competition, but become Walmart, you know so that makes a tiny tasked with China you're out some other ways to grow this business and it's a home based business. Show it's not like. We have of a building anything that were selling these issues, are concerned up. So I just China, wonder pick your brain a little bit to see what you're your thoughts were. Workers bottle now

I'm in the same way as other people were in order is basically been more friends and family. She she's got a facebook page portion starting the climate, get out a little bit more on this. Isn't just I got you know a whole lot more as a you guys. I was thinking, maybe that shit that but now she's really starting to get some attention, and so I can we both really climate, see that this could lead something a lot bigger bud what do you know what I know you're out how to get the next step? Was the primary thinks she's baking outside she does cupcakes? She does eggs Chief Tyler ventured off into the started kind of giving in to the key as well, which is trying to beg for people if they want to give the. Does it really good making the doubts about the sugar so

Really, China branch me she sheba different things. So, like So I would just cannot not on healthcare that what I did everything you think about you when you are who needs that who wants? Then, who will pay for it and they, like the homemade aspect of it. They like the customization of it. They live that their supporting local business and they'll pay her double what Pay it walmart because a quality product and customized experience in a customer experiences completely different as well. You're, not really in competition, will Walmart dont worry about them. You do. Really, you dont really want the customers that they have. If not, I rafter zoonotic. My customers are babbage. Not that's! Not your business model! Your business right was a custom made

egg, forgot celebrating his retirement over the local office and that office knows that your wife does this and they call him over a cake from or- day or a wedding or whatever the winning cupcakes for answer, some business cards and just go door to door with some of the offices in the area and let people know what you're doing drop off a few samples make up a whole train cupcakes. Above wanted every office around the area. If you don't get a whole bunch of business, you didn't website on this- is that I am show the time of year, your time share maintenance fees or coming it's a painful reminder in the form of a fat bill that you boy?

something you can't use and you can't sell one enough is enough times, your exit team will get you out of a bad situation when the resort refuses to help you. The first step is a free consultation schedule one day if they can't get you out, though, give you your money back gal, eight for four nine nine nine exit are timeshare, exit, team, dot, com and schedule today, their story, the panic about getting all your shopping done before Christmas. We missed out all the other collars black Friday, cyber mundane now there's a green Monday because we wouldn't want to leave you out of a collar here should beer

Monday, black I mean the retailers gotten, the black and green and red. I guess your Christmas collar, so we ve gotta make up crap to sell. That's what America does right, we're good at it Gray Monday's nor the biggest online shopping times, and I thank you for those people that procrastinate. The last minute Let's not get our stuff to you. If you're holler out of some jump on monetary Ramsay Dotcom, we got a most of our, short term dollars right now, so people are buying these books by the cases could like a hundred bucks is ten number one by showing books and yonder bow of warnings, mix and match and get all the different, almost all Hamerton but reaches pretty damn good. That's a nice girl pretend dollars and it actually help somebody to is not a plastic thing. There goes my drawers, where you gonna, who gave me the only remember what it does, that kind of stuff you get one of those in the open up and so Oh so, music kitchen items under draw my get something actually help somebody they Ramsay dot com,

are Collard Ramsay, concierge team at AAA twenty two piece, eight hundred and eighty eight two hundred and twenty seven three thousand two hundred and twenty three A cordial day comes from blinds dot com, they have a one hundred percent satisfaction, guarantee means If you miss measure, you pick the wrong color. They will really make your blinds for free breeding samples, free shipping. Who promos all the time you save money, always use the promo code. Ramsay Blinds not comes a great company. Perry is in Kentucky my wife and her brother inherited their grandmothers farm in North EAST Sea after she passed. They found out. She owed thirty thousand origin credit card, that the Bank of America, Bank of America, judgment lean on farm were wonder

what our options and we have to pay this dead. You don't want to pay this debt, but her estate does, and so Bank of America was in their rights. That when you pass away Perry what you own stands good for what you owe. The Soviet up, everything their person owns when they die. If you the cell, all of it to pay their debts. That's what has to happen in so you don't get this right, the debts and the assets they assets and liabilities. They liabilities are covered by the debts. People say no more about inheriting my mother's dead, you're, not gonna, hurt your mother's. That not passed down generationally, but what If you want that stuff, when she dies, then you're gonna have to pay for that.

And that's what's gonna happen here. This far worth more than that, thousand dollars. I'm sure of that you no harm sure of that does Bank of America by Third, the put a lean on it, worth more than thirty thousand dollars. They wouldn't bother, and so, if you guys want to keep the farm, you're gonna have to pay this bill. Now they probably will take a lump sum settlement rather than waiting years and years and years near years, for you farm and then get their money show. Gas if you offer them ten grand they'll, probably take it and so Union such great scrap together five grand h and offered to him and get the They accept your offer, our whatever offer you come to terms with them on. You get it in writing that they have accepted that from the Bank of America email to use, as we will take you really,

this lean and consider the loan paid in full for ten thousand dollars, twelve thousand foreign and twenty dollars hunker whatever the number is and then only then do you share the money You are not personally labile but her assets, which included her farm after stand, good for what she. Oh so they were in their rights to do this is perfectly legal, perfectly proper, perfectly moral for them take leaned against the farm, and now you need to decide, but it's gonna. Take clear that if the farm is worth five thousand dollars and I'm wrong, then I would just do nothing just it there probably eventually take it for taxes, property tax policy and take it over, but you're not liable for that, even it, just her estate is collapsing on itself, because more is owed. Then

Then she owned shove. Russians will say at ten thousand dollars. Cash in a bank account you dad with hundreds of large and credit card that well ninety thousand dollars, people wrongly paid, because that is not inherited, but You can't take that involve our MIKE account because it has to first go to pay their debts, and so that's what the executor her of a wilderness, they execute on the wheel and they ll what date enough assets to cover the liabilities, and then they distribute the procedure. The heirs what's left over and so its assets, modest liabilities, what's owned. Minus what's owed is what the heirs get and again. If you want to keep the item and don't want summit, then you ve got to pay the debt to get rid of the problem, and but it's not that you became liable for the debt is because you

Trying to keep the item in this case keep the farm and that's what your facing Michael, is whether in Kansas, hey Michael welcome to the Dave Ramsay show Merry Christmas to you married. What do you dare you down today, better than how you doing today in your world? Well until now, then starting a mom. I guess I'd be my sister in October, with every dollar budget that wasn't do the pie, gas until the audio total money make over like twelve times. A hundred forty dollars with your guys, black Monday, cyber wheat, whatever you want to call it deals now get to the point where my wife I'm tryin, to get her on board bringing us. Finally, together within the other eight years been buried. Three years ago, rears its forward, and

he's better on the saving par better with money than I am probably the worst behaved, but I can't take back already done so. I just want to get us together, move forward and I want to know what will be the ass way about getting her on board to tackling those dead. So we can have a better future for I say in our family and grandkids future castle. Typically, when guys do this with wives, wigand all excited and the mistake We get all excited and the mistake we make. Is we run in the door jumping up and down excited about what. That's exact, wrong thing to do She doesn't want to hear what she spoke today. She's in trying to do this for eight years, while you about up and now suddenly aren't bozo an ear,

You got all these genius plans now cause you religionist crazy, gown, radio right yeah and listen to the bar galvanise, major wars, Gaspe Lorry, Moors, in writing. I will be so here's the thing. There's you start with gratitude to her for carrying water all these years and you're, not sizing. The way she handles money does you're not qualified her she's, the only ones been doing the work so I appreciate you doing this all those years I've been reading the stuff and we realise how much weight you been carrying and I'm so sorry I made you carry all by yourself. Now, that's a good way to start ok, and then you can start but are going about. I've got excited about this because start to see. I think we can not only be out of that. I think we can act, Built from wealth and other goods

some of our dreams, and I want to help. Can we work? this together? Please will you help me? Let's do it together, and I think we can talk about why and give her gratitude for the times that she's been carrying water on this whole subject and I'm not trying to fix what you're doing honey I want just together with us take its course together this book together? And get excited that way and can we increase our communication. Other you're gonna help our relationship If she were hate here and now Is that every measure,

some months ago, last march, we announce that we are doing for the first time ever live like no one else ram. Improved for those of you that our baby stunt form beyond you. Don't need to be going on. Crews, have you get out of there? margins you fine place of your baby stuff form beyond we don't the live like no one else, crews. I got my body Jaffar worthies gone beyond their one night, one night, a set forest Stephen Chapman Grammy Award winning christian artist, his friend he's gonna. Be there one night doing a set for us. We got a bunch of us things going on. Every single Ramsay personality will be speaking and beyond the ship, including me for the weak. We announced all of us- and are you know Chris Hogan- can Common Christie right at the o, Neill Rachel crews,

and I gotta get Chrysochlora about his kind of an interesting thing. So, but we did it and I hate that water, it's funny stuff, but anyway we put things proceed a completely sold out the entire ship. It's brand new ship with how in America it just turned one year this month, so basically new ship and we showed up Tarzan in twenty seven days. In order to set out what you did. You gotTa Ramsay crews, dot com and you could you no law, Ghana of Worth and What I'm just learning is, is that so loud means that people put up a deposit right. So so the by it. I forget people put up a deposit pay later, so they put up the term fifty bucks and they got the entire deposit bag as long as they cancelled by October, it states sold out, of course, until October and then out of people drop out one or two or something like that, but then the nun

people that right up at October, jumped out because something had happened. They have a kid get married or they got something happen. The plans for a year and advances hard, so we actually have had a little bit of room opened up. We have now be six rooms available. They just told me a few minutes ago, and so ISIS They'll be gone as lack Christmas gift. Under the tree very quickly and on inside a hundred days before we sail and south, Be like big refunds. If you cancel so you're, just gonna buy a crucial Nigerian, be where you will be so jump on Gee cruised. I comment is this coming march and look at the ninety six firms that are available and see and look at the thing I mean it's, it's it's an incredible shop is It would be level and the terrorist great me we're not like doing Bahamas bombs, Bahamas so that I mean this is like we're going. Turkestan cake goes

goddamn a poor Rico, I'm in summer, stop sure just magnificent so high you don't wanna miss that we are going to bomb is we're going to Saint Thomas, and so it's a good good tree upon really. In forward to it inside this coming march and marched Second, I believe it is my intention. Six rooms left right? Well, we're not now, because we are talking about a minute ago, since a memorandum now I mean seventeen million of listening, so I won't load. These are not laughed so get on there really quick, Ramsay crews combat. Don't do this unless you're rubbish that foreign beyond we're, not hypocrites, let me trouble showing it vanished have formed beyond merely do everyday. Millionaire corrosion fell it up. We won't have to sell stuff to broke people in order to get rich. Now what we're doing we're doing this is us in law. The stuff for teaching is gonna, be legacy. Type stuff certainly will be getting out of debt stuff did you shouldn't go on this crucial if you're in death? Among you shouldn't, be doing this

not babyship form beyond so you're barometer, by state plans. Are we talking about generational things? I mean I'm looking forward to the talks that were already designing for this. So again, Ramsay! dot com is ninety six cabin Opened up because the deadlines are passed on deposits and all I care staff, and so if you do, if you Jeffrey you ve earned this, and I would never done one before show it's coming you beyond the inaugural one. I suspect I'll. Do it again gazelle so vast right, but as long as we don't I'll get sick. A crucial so anyway, Ramsay cruised, icon. Ninety six rooms left that make a nice addition under the tree for xenophobia Andrew is up Andrew, is in a high? Oh, I Andrew welcome that over em she shall I bacon for taking my car reproduce time. Sure what's up in a predicament here

on twenty one years old and I'm out what a full time job starting and get all the money saved up, but at the same time, on a full time college student and I'm trying to figure out stolen sheriff I'm trying to figure out what would be a good, move with the money I have saved up wouldn't want is you're what your college situation. What are you studying and how long do you have left? I have got to your left I have my doubts. First degree manufacturing Eric good for you, and you're living at home and driving across down to clash. Yes, ok, cool and your pen, cash for college, Yasser, ok, because you're working and able to do that. But how is your relationship with your parents were very good they're they're, not put push me out or anything. I just want to say I don't want them.

Like I'm overstating my welcome you're, not gonna college. Knowing you gradual, college and get a job leave, but but you're in college I mean that give they can give you to help you get through school, dead, free and You know in less you head up an issue. Investors are toxic relationship or something I think it's very wise for you to stay there and I'm the first one to kick it get out of the house or guy come out flash out. I told you blame me because I think it is really good for you. You know it's really good for your dignity. When you're on your own, paying your own, but your here, I'm gonna get through school and you dont get free and what's really important as you get that you can could degree or studying. How can we make some money? Man knew me there, employable very usable degree, and I M very wise choice. I love your choice and you know, and your pain Ashford already before you talk to me, I mean you're doing all this stuff right so that the entire

meant that you make your. You have one right now, gradual! on time dead free, that's your only job, and if you have to work to do that, You work to do that. If you live in your mother's by What to do that? You have your most basement to do that. That's your job as job one. You do that and you graduate and you get the job making sixty or a hundred and sixty or whatever it is you're gonna. Make then get your butt out there, but right now, I would use this as leverage to ensure that you do job one graduate on time dead, free at your job, you're willing to live by your parents, standards and value systems to stay under their roof, and willing to let you do that. I think it's a huge blushing and I would just be grateful for that and I would use this is just a job one. I have one thing I have to get done in the next two years: graduate on time dead free

good for you very well done trace is with us in Florida. I traced area data you better than I deserve. What's up? Ok, so my wife and I we just got married. A year ago we we live apart, you looking Texas and I live and die while she got offered a job about in Texas, she's an aviation or can you get a pilot licence and I kind of imported to search for the job opportunity because she hated her job, yearn Orlando Workin for a small private channel Oh you're done. She yeah she pretty much doubt offered a job out there and tax incentives for according to her significantly more so holding watch I mean well, she really had a better

Bore together with money and I've been trying time really. But I've got a construction business that I started. My last night came and without up to about two cannon police- and this past obvious. We finished a big job for about two hundred and fifty thousand dollars, and we got it out of all of it, so I put a lean on the property haven't fight. You get the money and child He's telling me now that we can't go tonight on our personal account, because it shows different jeopardy some others, all kinds of stuff goin on here they're going to do with this discussion, your wife separate from you, don't know what she makes a now she's telling you, while she can't join money danger will Robbins marriage counselor not money problem,

does the diver amnesia our scripture the day Luke, eighteen, twenty seven? But he said what is impossible with men is possible with God market

You said you may have to fight a battle more than once to win it. You usually have a better and more than once, the women Museum, a battle with chocolate, chip, he's right now I have to fight the battle over there, dad's in South Carolina Dan welcomes driver amnesia. Thank you doing merry Christmas. Merry Christmas to you. What's up so my wife and I are dead, three will fully funded emergency, find putting the three percent poured retirement. My question: if we want to aggressively safer index overdoing or whatever you call it, do we just say that extra income, but about fifteen hundred in the pot or do we just paid a current mortgage down faster or

I all just play down. The current mortgage faster and you're gonna make more return that way, workers your mortgage interest rate higher than your savings rate, but more than think what it does. Is it traps the money? It's what we call a forced savings plan. You won't accidently by a basque boat with this money, because you have to go refinance your house to get it out. It keeps the money on on task which you ve gotta, you ve gotta, designate task right now and when your saving money, you say, that's the house fund generally people, keep your hands off of it, sometimes I'm comes up, and then we get to start again ensure our brother just play down the house. It's trapped you can't get it out as shown house refinancing, and that's just wonderful, because it causes your goal to actually occur then, and man to get a better read a return. So it follows the baby steps exactly good question. Congratulations, I'm glad you guys are winning

Christmas tree dogs in Florida? I dug welcomes Ramsay, show a day, those that I felt sure come out. Well, she'll tell situation or my wife passed away a couple weeks ago here in time following your programme upon me about for years in made great progress on it actually biggest, it sticks, which is not paying out there early in them before she passed. The wool ensures stage for cancer. We took a living benefit from her life insurance policy, shared a small policy about four hundred thousand. We took leave Evanna Servers Street, which is twenty thousand, because rapid,

six weeks, our voyage, and so now we have three hundred and thirty, seven thousand our house now that she's past I'm expecting

between the remaining life insurance benefit adventure, but such roughly a hundred thousand. That does not get us all the way to tell the house off. I am also going to be receiving, obviously or for one case, savings that we had saved up. I would like to complete biggest have, since I don't like being in tat number below. It was with a reduced household income, but only about our house payment wandering about killing off. Do no aid could be were three hundred fifty thousand k balance to go ahead and pay the house completely off begun with tv sets. No one eat your opinion on that. How much was enough for Lincoln six, fifty thousand sunshine and washing? He said.

Forty seven. So we get done we'd like Stone House. I've got two just buying common. It is very easy to hand over to the other put down the woman. I think we can still goodbye make it and I, like you, just get by like a little bit of extra late in the day, Saunders wandering the usher I just going. This thing off so you're, the beneficiary, named on her for a one case of this, becomes an inherited irae, correct, that's, correct, inspirational penalty on the correct, no tax and settle Well, I don't know I mean I think about a kid. Many are actually but better qualified than I do that doesn't failing it's her forum. Okay, right, that's true! But it is true for one kid currently, but I'm about

I would therefore make it mine better. I think it becomes an inherited. I irreparably I'm not positive, If you weren't, if it was not your spouse, I'm positive, it will be in her array and there's no taxes on me. There's no penalties on just taxes on any you take out, and there is required minimum distribution as well this and show that regardless, I'm pretty sure that they should just becomes a narrative. I shall let let's do this double check jump with your tax person and let's get verification and because I'm sitting here reckon my brain cause. I'm just can't get over the situation where the second, but I'm pretty sure, I'm right but double check. My advice in if there's no penalty, then I am pretty consistently telling people to use inherited. I raise to get out of that and you never tell people to take traditional.

Parliament and cash out unless it's to avoid bankruptcy or foreclosure new, probably heard me say than a thousand times. You know so yeah, but I don't think I'm pretty sure this is just gonna fallen and the Hare deny rain Renaud TAT no penalty on it, and I definitely would do it. There's no penalty here right, because at that point you know I have no payments. What's where such utilities and her great shape as labour, and that's really what I'm goin for an end.

I generally Toby also in a situation to wait several months and let the fog of grief clear before you make major decisions. But even this is the wrong decision is just gonna, cautious, sell. The house is all God Bud and you're, not inside you're, losing the money. I wouldn't want you to go, make big investment decisions that were new or big in own decisions, because this is not the time to make decisions not working is good right now, a man's not work in a good night and one in my wife. Just listening to your other shack- and here you are you so just take. Take your time and be steady and not rash and then the the rule of thumb. I use on inheritances is honest. Ask myself, does this honour? The person's memory in Are they sitting and haven't smiling that I did this

so really were masters your completing the debt free journey that the two of you were on, and so that makes the answer to that question. Yes, Yeah I mean we were both at you, coordinators. She hated TAT is not an option that things should define more dejected off, I think should be more than finally, she can be watching. You do hidden shall be smiling and home. So that part gives me come for Tunisia. I think I don't have any hesitation to do this. I want you clarification on my inability to answer tat question because it's it's pretty standard, don't answer tat question, Well, I know if it was not a spouse, but that it would not be a dot. Com is not a qualifying

knowledge is simply an inherited. I re and on they got very specific rules, is no penalties and there's required minimum distribution or m d on it and on them, and if you, whatever you do cash out, even they are M D, is taxed at your current tax rate and which has reduced right now so far for the coming year in one of my left the first year for sure, I'm so sorry so sorry face in the stern holiday. Thanks for the calm and thank you for leading financial season, four walking this out of her memory, wow open phones at eight hundred and eighty eight, eight hundred and twenty five five thousand two hundred and twenty five. That about puts this particular hour of the Dave Ramsey Show on the books are thanks to James Childs. Our producer those are associate producer and funds greener. I'm very rooms, your host, we'll be back with you before you know it.

In the meantime remember, there's ultimately only one way to financial peace and that's the warp daily with the prince of peace crises. hey! Ellie, associate producer and funds for that Abraham Seashell. 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 lose everything that is mentioned during this episode in the podcast show that sexually thanks, felicity,

Have you got questions about retirement, investing becoming an everyday millionaire, go beggar and broader with my man, Chris Open on the crucial genscher. I M excited to be able to talk to you all week in week out we're going to 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 can show wherever you listen about gas. Hey! It's you! producer of the day. Ramsay show this episode is over but check the episode notes for links to products and services you ve heard about during this episode.