From the headquarters of Ramsay Solutions, broadcasting from a dollar car rental studios. That's that day, rambling work that is done just gang and paid all mortgage has taken the place of the Bmw, the status symbol of choice they ran through your host. Thank you for joining us. Open phones triple eight eight to five five, two to five, that's triple eight, eight to five five to two: Christian starts this our often South Carolina, I Kristen. How are you here

I'm sorry gears, the very haven't you better than observe. How can I shall we? in an open and and you have an option to each child care, if necessary, the five thousand dollars a year. We we'll envy step too, and I just wasn't sure if that was something we should take a banner do at this point. You have your children in daycare. We do you're, paying them more than five thousand dollars a year about about thirteen and a paying per year juncture, so you can run five thousand dollars through this pre tax for an expansion. Going to have any way, while you're in babies to have two right, yeah so what they perceive is it's called a cafeteria planner one twenty five plan, their nickname both and on it allows you to

certain items out of your check before taxes as an employee benefit and then use that before tax dollar, two, your bill with, and so what it saves. You is your tax rate on this money. So what's your household income. About two hundred and seventy seven wow, so you're authorities, optional bracket- and so you know she say river about two thousand box- is what this is gonna say: you yourself in order to get home with five thousand you gotta make about eight right. Ok, you follow me yeah, So, if you take eight thousand dollars of your income, you do not run it through this. You bring it home. The aid

and turn into five thousand after taxes, and then you ve got five thousand pay the day care or you can take five thousand dollars of your income. And put it into this and it'll pay the first five thousand of your daycare saving you about three thousand dollars in taxes. Ok, that makes sense It does. This is this is not a new biology bill? You ve got anyway and the government's picking up thirty cents on the dollar. For you, ok, yeah. I declared insert amino acid When you break it down, it's not like it's fun. We default have quite as much at the beginning of the month through towards dead, but I guess abandoned looking back anyway, when were you pay in the day care bill, the end of the month gets reimburse there will have to submit their receive before it will come back. But like a month later or I'm, I'm I'm sure, have we ve never done before that. I know exactly how long it takes that come back if it weeks.

One third day, then I have no idea now I'll show you gotta. But a cash flow sidestepping to do to get it figured out, but it's gonna save you about three thousand bucks a year such worth doing how can have at it thanks for the call open, phones, a triple eight eight to five two to five Susanna is whether in Florida, high Susanna, how are you going better than I deserve. How can I help I'm? All I have a lot of and I was wondering about chapter seven think would be or not how much doubt if you got on total too. Hundred and sixty nine thousand dollars. That includes my mortgage. How much of that is your mortgage? I'm hungry in forty eight thousand and what does the other hundred in town? I have seventy eight thousand in cars in

thirty three in like loans, credit cards in a medical bill. What your house worth about one! Seventy, five and watch your household income about a hundred a hundred and sixty thousand year. Alban appetite told us that you about by eighty seven ninety how long you been married.

I think you can you handle all the money without his looking at it, for your pretty scared, very does he know where everything is yet he knows about. This is yes well, the Great news is you're not bankrupt, not even close you're scared, because your disorganized and you're behind- and you don't know what to do next thing. You don't have a plan, and so your over wound but you're not bankrupt. Did you say you make a hundred and sixty thousand dollars a year year and then at the club at once tat the boy about eighty The idea didn't have child support that seventy thousand dollars a year. How much is this child support

on seven hundred dollars a month? Yeah, that's more, like that's! Eight thousand dollars a year show that does not describe from one sixty two. Ninety. What else have you got coming out of this check? Pray tell like helping

on our own one day. Yet that is well yeah. I'm a big! Was your tracks refund? You wear it! I'm a lot about India there as part of a major having them take two one thousand dollars a month too much out of your check. That's part of it showed your take home pay. If you stopped her for a one k, even with the child support coming out and you a gesture w force is if you're making one sixty should be about one thirty, five or one forty, and I think that's where you are and land after you make some intelligent adjustments to this check, and then we got all kinds of money to clean this mess up with

I would show a couple of hours. You're you get! You got your car nuts here that with our biggest issue, I was just like that, like over in a crazy column Roger I gotta go both them and don't tell me you're far bankruptcy to keep these cars because you can't keep a movie val bankruptcy unless you keep the dead. So these car cars are stupid. Land. I wanted to get rid of the cars and to keep my how yachting any browser are. You keep your house Michel. Your cars, get you gotta, get you to two thousand dollar cars to drive roll up our sleeves and get on a tight budget cut dont, get your w to changed. Where you take home a thousand dollars. More! Must stop your fora one Kay,

don't get you on a detailed written budget and the Great news is other than your house. You're gonna be dead, free but eighteen monsters are sound good I'll, show you how do it? If you, if you stay with me alone, pick up, I'm an approach and of an Atropatia university. Going round and oh by the way, he's gonna help you animals outline watching you carry all its weight by yourself. This is that I Ramsay

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John, is in Ohio. John welcome that Abraham she show thank. You, gave our EU better than I deserve. What's up I got a need. Some advice on a decision on social security, sixty nine and nine months and when I filed I took the file and opted for this expand and some of the decision of taking the higher sources, which would be around twenty eight five or

taking a blank cheque for ninety four thousand, which were brought me back to the twenty one for, I think that I would have received it. Sixty six, and No, I'm not I'm learning stuff. Here you mean you cannot take social security and they will offer you a lump sum by out if you can't anymore the April but I found in February why the vague was saying they terminated that option other either. Today you can make twenty eight thousand. There's a year or so if you like, a foreigner, housing, employment hundred dollars a year for the rest, you know for retirement into uncharted. A journey eight thousand dollars a year, twenty eight hundred dollars a month. What are you saying? Twenty eight, dollars a month. Ok shall thirty thousand dollars a year and some Ange. Ok,

right or nine four thousand one time while minded a thousand men for men, one I would receive twenty one three twenty one hundred, occasionally, if you made ten percent on the ninety four thousand, you would break even. Right because we put nine thousand within twenty one, we're right back up to where we were and. The way when you die. Social security is gonna, give your by your airs zero, but if you die with ninety four thousand dollars or mutual fund that will go to your airs. Right click, the ninety four I if I take the twenty eight

when I die, and I make it ten years, my wife would her benefit would be a higher rate them. It's ok, I'm! This might not be enough to offset the loss of ninety four thousand dollars to your estate, glad at ninety four as before taxes. So I'd probably end up at seventy. Seventy five. Still her taxes. You have a hard time get beaten. If I may say to you, I am always about any time I can get money out of one of these deals, particularly a government deal and get it in my hands. I know I can do better whether this is not a mathematical slam dunk, but you're gonna, be your estate, is gonna, be eighty thousand dollars after taxes richer. When you die because of this transaction plus, then you ve gotta make money on that eighty thousand, while you're alive, to try to break even on the difference in twenty one.

Twenty one thousand dollars or twenty one hundred dollars a month? Twenty one hundred dollars? I did my wrong to ok, and so shall we ve got ya you easily could do that because, again the twenty one hundred dollars a month annual lives would be twenty five thousand dollars right and otherwise you got there thousand and from chain, so you only need about six thousand box office. Eighty Gran to break even yeah. You take this money in your invested, a mutual fun. You'll be better off, while you're alive and better off when you're dead,

if you're, if you're willing to invest in a good mutual fine and get with your investment broker. If you don't have one get in touch with one of our smart rest, her brows, and they can help you do this, but I had no idea I've never heard of that programme before I just learned a lot, but it sounds like a pretty typical way of calculating a benefit, the equivalent of a pension benefit and gave this case. It's the social insecurity movement. I'm surprised they can actually give you a little more on the lump sum, because their rate of return also scurry sucks so bad so, but either way it's ok, we'll take it out of here man. Ninety four thousand pay, some taxes on it invests that money that will offset more than seven hundred dollars a month, which is about eight thousand dollars a year again. If you were to invest that well now, if you put it in a savings account of one percent, you're not gonna make as much a month but you'll be better off. When your death, your state, will be better off. So I'm taking the money,

I'm getting it out the government's hands and I'm going to do a lot better with it than they would have done for me on my behalf. So a thanks for the call open phones at eight hundred and eighty eight, eight hundred and twenty five five thousand two hundred and twenty five Chris North Carolina RAM. She shall I did very thankful for the ministries, the wise decision of pure ass night. As a matter of fact, while down yeah, I have a question for you about. I raise Radford, traditional life and I are unfit decreases if we want we ve got some money in traditional and some money and rocks and unkind asked with European is what makes sense as far as converting the traditional, too often pay. The tax is not about that

It makes sense mathematically if you're not gonna, touch it until one of the last things that you do, which is probably the case. I'm guessing you have a pretty good amount in these nets. Stakes correct! Yes, how much is and how much is in traditional total- Combined in the traditional yeah yeah big, my wife and my oh yeah. She has survived the mercosur. Seventy seven hundred ninety thousand wow about so ok, How much is in the Roth three hundred dollars a year ago dead and how much did how much might a Jew inherit my wife, just Inherited eighty four eighty thousand dollar two inherited Irae from a dad and about twenty years ago I inherited thirty thousand for my death, show the rest of this yourself made yes waiting and your fifty three her on every day may well done so proud of you are. I am

What's your household income? Well, that's part! That's eternity parties Emma good to ninety nine sales age, so ill fairy, but you know it's been. A low is eighty recently to as one a hundred and seventy soap, I'm gonna, say in a hundred hundred ten summary are on average to good and how much other US do you have other than these, you of any other investments other than this money. Just our house is paid for now I saw two hundred and sixty seven thousand. So here's what I would do if I have a choice between paying the government, because I carried out because I rolled some of this money from traditional to Roth or pay off my house. I would rather pay off your house, so let's make it out the first order.

Business. When the house was paid off in your baby steps. Seven, then I, if you have more than ten years before you're gonna, start pulling the money out. You're, probably gonna be better off role, portions of or all of this to ah too, to arrive. Only if you are going to pay the taxes separate from the account, I don't want you to cash out the money other account by the taxes, because that creates a mathematical break. Even you might as well just kept it in there but if you can cut event scratch up, let's say: let us show your house has paid off and you want to roll a hundred thousand seven hundred. It's gonna cost you twenty grand twenty five grand and taxes you scratch of twenty twenty five grand that of investing it somewhere out role. It can go and buy that tax and let thereafter that grow from this point forward tax free

two hundred at the time, if you want to or two hundred at a time when every scrape up the gashed by the taxes but scrape up the cash by the taxes, be dead free on the house before you do it and make sure that point that there is more than ten years before your gun, touch them Unless your household income changes, I don't think you're gonna get all of this worked out. I think most of its going to a lot of it's gonna stay in traditional and that's ok, millionaire well done serve well done very proud of you, while this, but ever amnesia show

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in the lobby of Ramsay solutions on the dead free stage, Brad and Michel or where those guys. I worry, a downright welcome, come on. You guys, LIVE Georgia, Georgia, just like that. What part of Georgia Monroe Georgia well outside of Athens to all. We got a beautiful area, fine work. International and upper you're dead scream. I watched you pay off two hundred and twenty five. Dollars would love it. And how long did it take you approximately eight years and your range of income. During that time, I think we started out with sixty and we're up two hundred feet five. Now, what we all do for loading grain operator and my county worker work further counter government juvenile court, ok,

Cool show two hundred and twenty five thousand over eight years. You pay off your house, we did, look at our Bible, touched on oil. Go you guys very cool what's this house worth about one: seventy five, nice very so you might off everything, including the everything, including the saga to twenty four, was once only how much you and the House one thirty four: One thirty four, and what was the other hundred thousand Randall Clayton When we started out, we were not married. We ve gone through divorces bankruptcy. He had to be re, taught how to manage money. I had just learn cause. I have no clue peace, the nerd on the free spirit, if cocktail and we ve had credit card- did- I was stupid. Person had a mobile home at one time, dismal several different things. We had seen tat step that we had to take

of like said he with a vile bankruptcy and after what happened on the closure turner with around, we wonder second part of our life to be better. We We were in our early early forties just turn forty idea at him. We wanted to live. The second are alive, not worrying about where Where are we going pay this bill? Where are we gonna do how we only have we thought about them, but you know, given our retirement stored, in that our thoughts are now we're thing about retirement with you know, during this time we were able to cash flow. Some things that have been great is just an amazing thing: Hooker show you get remarried, we get a fresh start. Forty years old, we want clean this up, its founders found a general strike, not playwright shows

What did you do from their me? What your marriage or you shine, talked about it. What happened while we were together? Actually we're not got may when we took the final piece. Of course we are that we started that Oda and a year's ago actually did the class in two thousand Levin poker. Yes, and then we were together for a while. We worked on that and we got our debt down to a minimum and we bought the house and we ve actually pay the house often six years. Ok, we did that because our our goal, we we got it we funny as it, but we wanted to pay it off IRAN. We worked hard on that. I'm in every penny. We had good for you into our budgeting winter, our house and the other things that we were cashflow country show. Europe. Are you fifty yet? Oh yeah yeah, but you gotta fight for house and younger preserved bed. For yes- and I feel is awesome- isn't feel like you never would ever thought you'd feel. I never thought I would die

the house by a lot this, where you live by out, whereby Leah and ELM again is I've, tried. I've taught my friends about it. Summer of light. Yell gutless also, unlike you gotta, do it too and is a wonderful failing is Europa. I'm still in shock amount still a shot. Thinking. Okay, we gotta. We gotta put the money back for the House payment, you know like we did every week we did. Getting over, but not now not. Now. I guess how does it feel to be completely free, as is amazing yeah? I know it's hard to explain better just liberating, but that is a good word. Liberating agree word well, very cool, so tell people the key to getting out of areas Europe, fifty years old,

everything's prayed for how sure everything your success I find the key is working together. If you don't do it gives them you're fighting a losing battle, the origin aware that it as one of the biggest things I in my past life married before we didn't do that. I managed all the budgeting and it was horrible management because I'm not a numbers person, but now that is our thing we get. If he's out of town working, we're still on phone talking about it, but have a go. Have you have your goal? What are you gonna? Do an NGO forthcoming cut out the best of and isn't you just gotta take get tunnel vision on what you want to do and how you are you handle it and just being able, if you can imagine the anachronism, Madame it Lee and debt free, but then, when it happened on my help, while we're did Alma got us look at the easing is a blessing. A really is who were your biggest cheerleaders, obviously each other. Yet each other

France we has negative needs in the background is so funny at work at going ok gases which cause people tat. Well, how do you know what I'm gonna do about this? That now, my dear, let me talk to you of even a blown down our city days alone at the books, and may we bought a case of books to give to our friends our money maker. We did that for your present people like us thanks, but I thought then people got excited when they start rain and nothing else in France who are actually or Contorta my daughter and her husband. We pay for them to do that when they first got married has arisen. That was one of our gives them and they there actually implemented so far so good. Here. They wanted up your basement if not before children. No sir, I love it guys are impressive, very well done very well, then I'm proud of you really really good job, so financial patient, firstly, eight years ago. How did you

Do you do you remember as you're walking through, because eight years is a pretty long slog that's about normal by the way? your house paid off? If you go through appear, so you didn't, you do perfectly, but how did you stick with a cause? Some people just quit? They fall off the wagon. Well she's. The one did actually got me to go because I am obviously had never heard of you before we started and mastery and your story is, is fairly similar, admiring my she says are former life and I started. Can I was in the house and stuff like that? Man is seven flippant and doing things like that. I was in the same situation. You were lost everything to we bicycle hath like we're like poster children, for the lay ramping up

we actually, it was hard, is like me to do we rented a house about almost a year. I was the hardest thing to do: have developed a bunch of real estate and our debate runner. I did that to that's very hard and then we we bought the house in day to day. You say one bite of elephant time ago now and all suddenly elephant is gone. I love it. Well, congratulations very well down very broad ivy we're gonna copy across organs book for you every day millionaires you can be won. If you're not already very well down your very well that our I it's brand, Michel down in Atlanta, Georgia, Northumberland, in area to it and twenty Thousand hours paid off in eight years, my sixty to one fifty five found it down. Let's hear a dead whatever you want

Well, you were, you, sound happens right there little bit of time. I was talking to a billion or one time, and I asked him b you when I grow up what you donations book, you need to read: Skylark written, especially billion are recommended books. What am I gonna? Arrayed niece? It's called the tour

from the hair. You should everytime. I read that book, the tortoise wines, end of story, so you that's what it is a vital time. That's how you eat an elephant abided a time, one step at a time you keep at it, you keep at it, you just keep at it. I'm no! You get tired. I know life happens until you get the flu. I know you got a car wreck. I know you lost a job, I understand what you keep at it and you keep at it and you keep at it and you keep at it and you keep at it and you keep at it. That's how you do it. You just get on fire and you say: that's a work. We're not gonna get this close and stop. What got us here won't take a sir baby. We gotta do some stuff and we gotta turn it on.

What gotta share won't take us there. What are we gonna? Do you keep adding and you keep at it? You hustle and grind grime and you hustle. Then you will look up and go tat boy on top of the mountain which paid off his house Fifty years all pay for half a short while does that I ran Felicia.

I am sure that I latians three, seventeen and whatever you do in word and deed. Do everything in the name of the Lord Jesus, giving thanks to God the Father threw him your hand. Gardener said to speak. Gratitude is courteous and pleasant. To enact gratitude is generous and noble, but to live gratitude is to touch Heaven that one's good like that to speak gratitude is courteous and pleasant. To enact gratitude is generous and noble, but to live gratitude is to touch Heaven. Love Well, if you cannot talk about here, were hidden towards the end of the year and you shine, you know we say goodbye, they'll neighbourhood and we're looking for a new place to call home buying a house is one thing but buying

selling at same time. That can be low, tricky. The stakes are kind of double the details or double not dimension is hugely tight time line and you gotta have an expert to help you get this this time line synchronized it's these synchronize swimming of real estate, Swatch important to have a quality real estate agent on your team. Don't want some jumpy, amateur or the doesn't know what they're doing managing the sale or the purchase of one of your largest assets. You need a trustworthy experienced agent to God, you and that's why we ve created a network of top real estate agents from across the country who follow the principles we teach so that you don't have to wonder. If the person you ve hired is the real deal or not, we call them our endorsed local. Providers are de L, peace no, today Ramsay DOT, com, slice, agent or click here, be anywhere on our side and finery

stay agent that will take care of you. This is too complicated for some amateur to handle. You will get burned and friendship that you thought you were helping by giving them the listing gets strained because not a pro. You don't owe you afraid of your friendship. Hast repurchased is not a real friend. Evan is in Tennessee high Evan welcomed that I've Ramsay show pavements technical sure what's up

so in March of twenty six key, I was diagnosed with cancer and as part of that, I basically just said, screw it and focused one hundred percent on that. What is happening was I gotta think it's my apartment, my card repossessed and now that I'm all better I've been back at work for quite a long time, latch more funding.

It's pure. What did I was able to do it quickly, volume I said more than walk by allowing us, I beating cancer, wouldn't be called lock it when we took a lot of intervention, both medically and divine yeah sure. So now, I'm at the point where I can start getting things back together. I got a pretty good job that give me some great medical benefits which, whenever one concern for very obvious reason sure, but now I'm at the point where I need to start getting you

You take care of its kind of cleaning up my record, so I can get. I can get back to living somewhat of a normal life dutch. How much do you make now? I may I gross forty thousand a year, but after the insurance, my medical care, I come around twenty eight thousand, your insurances, a thousand dollars a month. Yes for one person, ok Well, that's pretty ridiculous in Tennessee, but also your obviously not on a group plan. I Actually I am, but if a relatively small companies about two hundred people, so not a very well negotiated group clam now have you for everyone price. Just personally, like a blue Cross, Lucio Policy, I have, and it be about twelve hundred thirty dollars a month and I wouldn't get the coverage limits. Would I get with fighter planes? Ok,

aren't got our guy, so you're, making forty got twenty eight left over of your health insurance and to go back and clean up. Some of this mass media have anything that is current debt, that your bang on, or is it all about that it all back everything collection, carbon does not lay down election and you got. Bow and it gets more medical bills. Yes, ok, how much is the as the eviction contacted you they had not believe I. What do you know how cancer you dont know if you have them anything. I do know that I Odin stuff because all my credit report-

showing onawandah report. Forty five hundred credit work, that's good news, and I what about the car repo? What are they showing just under seventy five hundred like seventy, four, twenty something? Gacha? Ok and how much a medical bills that actually the Good NEWS is one of the things I say one of the benefits, but one of the good things that happens when you get cancer. Is everybody comes out of wood work to help you, so I've only got roughly about a thousand dollars and medical bills and that, from the last year, Coca COLA Splotch just take this in order of smaller two largest. Watched by the medical bills as soon as possible on your budget. Be clear of that make sure if they're all any oh any bills that are all bills always get in writing that the amount you are sending them- clears the account. Ok,

they're, paying it in full or your settling it or whatever. But if I send you this amount than I consent, then the account is cleared and you keep that in hard copy form, not ie form printed off printed off and staple attract through it, showing our some kind, a copy of proof of payment showing that you not only got from them. This is what clears the account, but you cleared the account by sending it to them, and you keep that in a file for the rest of your life. Now then, we'll go to the eviction- and I would just contact the management company and are you- can always do better in person on especially on that one, ok and What I would do is if you can meet with the manager of the apartment complex or wherever was that you were one of the company, your work and with sit down with them in person and not

not making any excuses? I let it all go, because I was fighting cancer and I should have been more responsible, but I was fighting cancer and so I've gotten unama recovered from the cancer. That's my past him. I remember from trying to go back and make right now. My credit report shows forty five hundred dollars. What did your file show and what will you take if I give it to you today in settlement in lump sum, and then if they give you, if they say a thousand dollars will settle this, then you have a thousand dollars and you get a receipt and you get it in writing that that account is cleared for now the car repo? You can probably shuttle it for a quarter on the dollar. I have no idea what the landlord will do. They're all over the map they may one hundred percent. They may look at you and go this is five years ago. I thought I'd, never see you again, I'm so glad you're here, I'm sorry, you had cancer. Sure will too

grand and be done with it, or they may go we're out and fees to this. You know I don't know what else to do so whatever you do, do it in lump sum, if they more money than you have. You say I'll have to get back to you. I've got money, but now at least our conversation going, ok and give you more than I have and I will not pay payments. So, just a little bit of information that kind of driving me getting us together aren't getting kicked out, no genuine perfect. So my goal was to get the objection that our first because the eviction of keeping me for making certain places now, but you can have both that and you're not you're, not gonna, they're, gonna, settle with you, go see him we'll sit down with them and clearly clear. The American clearly eviction with six thousand you'll be able to clear by them with that and then in short, workin out. I mean That holds this report

Rico happened in June, twenty fifty, so it's two and half years on the added value take a bomb on the dollar. They might take a grand too, because they can't find you and they figure you didn't make it I mean there are, happy! You show back up thirty mile the ban if you're going to argue with him, but I bet you can get them Tiger Grand on that. So you might be surprised how quickly this all clears up for you, brother, I'm sorry for what you've been through four colony, and thanks for going to make it right, This is our that IRAN's you show in the books will be back with you before. You know it in the meantime, remember there's, normally only one way to financial peace and that's to walk daily with the prince of Peace Christ. Jesus

its Kelly associate producer, impose reigned over the day, Ramsay show. If you would like to be geared every screamed, live on the show, make sure you visit, Dave, Ramsay, dot com, slash, so it registered it. We would love for you to come the National until Dave. Your story, Have you got questions about retirement, investing becoming an everyday millionaire, go beggar and broader with my man, Chris Open on the crest of Intra. I M excited to be able to talk to you all week in week out we're gonna focus on your calls, and it's going to focus on building well investing and how to become an everyday millionaire subscribe to the christian show wherever you listen about gas, hey, it's you, producer of the day. Ramsay show this,