Why, from the headquarters of Ramsay Solutions broadcasting from our car rental studios, that's that day Rams Asia, what that is down measures in the fate of mortgage taking the place of the Bmw how's, the status symbol of Jones? I am, they ran through your host. Thank you for joining us. Open phones AAA eight to five five, two to five. That's aaa! two five, five, two to five every star:

at this hour in North Carolina High Evan, welcome today, Ramsay Shep Data you better than I deserve. What's up so my wife and I are in step three be rights going in, and I was wondering what's your journey, ideal or thoughts are buying. You know it's more of a start or how hang it fully. I am using. That is a rental before buying a while longer term home, it's getting off another border, but not not having both mortgages at the same time, now would not do that. I would pay cash for my next property by showing the starter home. Ok, I don't want you to go the bed, because, if you borrow on the knee you home, the second home, your purchasing, while your first home you're living in his pay,

four, it's the same thing as having borrowed to buy a rental is effectively what you ve done, and now I'm not gonna. Let you that we only get out of that. Not into that and I'm not I'm not going up. You know. I wouldn't borrow, let's say you owned a home that was paid for ok, would you borrow on that to buy a rental now? I would never do that and effectively that what you're describing is the same thing. It's as if yoga borrowed lack that second home to buy the rental for cash, and so now I would liquidate the first start or house at the time you get ready to move up ass. I would go about it good question. Thank you for it. Finish our course of the day comes from blinds dot com, the number one online retailer of custom window coverings. You get free, free shipping, it with a new promotional run every month, you're safe even more years. Ok Ramsay to get the best possible deal?

Travis was in New York with our question Dave. I recently asked a friend if it be all right with being listed as the beneficiary to her retirement account in the event that so English to happen to her. I am wondering if there are precautions and he d take or questions on a two asked before accepting our asked by a friend. Ok, so your friend once you to get wants to give you their retirement account upon their death? because they're gonna be my leave it to another name used beneficiary. I got it now now, there's nothing! You should be worried about it's a wonderful gift in the event they die if they don't die than not, but I'm the money they don't have. Anyone leave the money to buy. Won't leave it to you. That's all it is. It's like saying I'd like to leave. You in my will: ok, loungers, no strange part of the world, but I mean that's it. It's very, very

simple in their regard. Shanna is whether some of the whole maharajah- how are you and how are you better than deserve? What's up, and I have a question or the better as came up, I had better you're twenty six ways

Threec, very little kid ed and we are completely free aside from our hollow women. Two thousand or so. My question is: what has it? Yours took a job. I flew started yesterday where they get a significant about a buddy activity. Toto oppose that ninety thousand a year while make it pay our home off by the end of the year, but we are also trying to save the fool to thy Adieu faintly car to build up our avert decided to a higher that it. What would you think of it, as do well by bishops, were dead for each of the home? The buggy balance reached maturity of a fully funded emergency fund of three to six months of expenses. I would not build up any more than there are much too you have. I may have two thousand right now: you're low. Ok,

build that up to three to six months of expenses that your first go before you do anything when you need to have a discussion. Anything else. Do you do that immediately had art on that in your budget in you, don't have any downright knacks up the house right you care for her good. Ok, then, once that is done, I would start putting fifteen percent of my income into retirement and I would start putting something towards kids. College then have to be a lot fewer than fifty dollars a month. That's fine procured or something with sit down with smart rest. Her pro get your retirement savings at fifteen percent of your household income

You're also sets about fourteen thousand dollars a year going in and then start start your kids college, any money you can squeeze out above that reach over and start paying extra on the house and ask it sounds to me like if you do the things I'm talking about their instead of the way you are describing, it is probably gonna. Take you two years to pay off your outlasted a one day when I left out the family car you want to move up in car. Ok, so you move up a car with cash and then then I was star pain on the house.

I found guided our monthly payments. Our house is not that I don't want you to keep it on the house, I'm just saying. In what order do we attack it right? That's all right! It's not it's not! Do we pay it off its when we pay it off, they can really paid off right. That's all so the matter if you got a good payment and Murphy low interest rate, we're still go, pay it off, but we're gonna hit a few of these other goals. First, to lay a foundation in your personal I now plan so very, very good question- will guys I'm so excited about our upcoming smart conferences. We're gonna be in Orlando April? The fourth was Chris Organ: Rachel Crews, Christie Right, Anthony O Neil, doktor less parrot on money. Doktor make meagre the countries leading ready on parenting, vessel other nice wishing the kid ready hosting career expert, Ramsay, personality, kin, common and I'll, be there

It is a day, long, smart conference. When you leave this conference, we will have talked about money, marriage, career parenting. We will have dealt with everything we will have dealt with millionaire When you leave after spending the entire day with us, you gonna be pumped up jacked up and smart. That's why we catch more conference, get it so we're gonna be doing this. Will the fourth in Orlando there are a few tickets left me. Smart conferences typically sell out, and this one has not yet done so so there's still time for you to get your ticket Then we will be in Minneapolis on no, for the seventh and it is tracking for selling out very very early. So I would recommend get your tickets.

Should again there take a start, is lost forty nine dollars, and you would spend that here any one of these speakers and you get an ant iron day of some of the best thought leaders on the planet. Do not miss this year, Smart Conferences, Orlando April, the fourth Minneapolis member, the seven I'm Dave, ramshorn your host will be right back

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Well, if you're, saying goodbye to the old neighborhood and you're looking for new players to call home buying a home is one thing, but buying and selling at the same time is quite another state. Your double the details are born, is usually a doubly tight timeline. Basically gotta be an expert dollar. An really know everything about roasted to pull this off twice so We now have the right agent on your team. You dont want jumpy, amateur, managing one of your biggest assets. You need a trustworthy experienced productive agent.

God you we ve, created a network of top real estate agents from across the country who follow the principles we teach. We call them are endorsed local providers or e mail peace. For short, when you work on one of these, you don't have to wonder if the person whose heart is the real deal with me Sure they are, they Ramsay. Dotcom sledge agent is how you can connect to one of these folks. That's Dave, Ramsay, Dotcom, slash agent Dalton is whether, in California, how're you doing. Also thank you for the opportunity to speak with you sure. What's up so that a quick question, so my wife and I shall are least is about to end of her apartment in California and we're trying to escape when we can and will look on it as a good moving out to tender sea and the jobs were looking out right now have the same pay, if not more than were currently out we're trying

figure out when the right time would be to make that jump. Economical yesterday evening or caused living a no state income tax you're making asylum on one of the big benefit making the learning were currently in point we would love to have you intend to say, but only if you know how to vote properly Will you do but seriously sounds like a great deal. You got jobs lined up making the same money great only the biggest thing now my wife finishing her degree in May in our lives and in April, so trying to figure out if I should come out ahead of time or wait until she's done with school to be able to make the move together. Now I would attend to make it together. There is no benefit to you going ahead. Gotta have housing for that month. What are you gonna? Do you ask him too?

and your lease. Let you go month to month on the least or something we have that option we could also move in with my parents, for that want just to be able to write it out again some money to make the move with right, yeah exactly if you don't kill in the meantime, the back up again, I mean I've got an. I don't know. I don't hear any reason. Not to do this to you, but I'm a reason not to do it would destroy to figure out. The right tone was the biggest part of it. You do what you want to do. I have done things in my life, where I was separated from my wife for a month and added joy, any of them No, I don't I'm kind of a worse like having my family, my stuff around. You know and so I'm just not good. At the separation thing out on travel. A little bit, but its small spurts asked travel a lie, but its small birds and

I'm not gone for a month at a time and that kind of thing it's very tough, especially in the early years of being married. So you don't you wanna do but I'm just worse and I would add, weight and bring her with me. That's what I would do I met for the call our right up next gonna be Heather in Colorado, high Heather. How are you Dave I'm here, while her you better than deserve. What's up, I am furthermore, till it underlying right now, like I've? Listened people asked your podcast playing all throughout the day. In the background, so I drink Kuwait, we'll find him he has my husband. I are babies up to about the finish up, but the owner by companies, a small association management company for non profit on want to sell it to the next year or two for only dollar arm- and I just wanna, know what questions I should be asking and how I can go ahead for making a plan so that I can be successful and not wind up debt or

having to lay off any body or anything like that. She's gonna give you the compromise, financial, Shia, a dollar Why aren't you one of her previous employers get Ah me before and shall we might get back and due to one commonplace. That's me: are you able to look at the books and understand how the inner workings of the finances work on the place sure she won't. Let me I'm sure, closer to the date right now there are other employees and I M sure, there's something what salary and you know that may not be the most appropriate way then she talking about doing this in the next year ago. Well, I think. But I would ask you to do. Is mentor me on how to run the business so that I don't mess up

Sounds like she's, been running it successfully for awhile correct, I'm it actually younger company. It's only about four years old and someone gave it to her four years ago. Now she get started it. Oh someone did that for her out of differently lace at a different time Yes, yes, I gotcha, ok! Well, I mean that's one way for you to get to the inner workings, because there are basic components to running a business, basic things that drive a business you, your personal growth, profit people, the product and so on. Right, and so you start looking at ok what's the product, how do we sell it? What are we doing in your case? It's the service is not an actual hard product and you know that whole thing and just go that direction and to begin to look

the different components of a business, the drivers of a business and understand what is driving, how this business is being driven. What are the people issues in the business or as a product issues the prophet issues? What are the issues with you, the personal issues, but the leadership things? Do you need to be doing to propagate prepared and ask her to walk you through some of those things, and you can jump on trade leadership and get involved in our country, leadership, communities. It's called all access. We can guide you on what those things are and exactly what the drivers of business are and how you can address each one of them, and I told you know that will give you that what you need to do that we will get a hold of, but jump on on trade leadership, dot com after much our business and leadership Department inside of our company. Here the teachers and guides small business people Travis, is with us in Florida, high Travis how're, you doing,

better than I deserve. What's up. Although I found your project about a year ago and was doing a lot of driving time and discouraging to everyone- and I could get on my phone and in the last year out about thirty five thousand dollars protocol again over a year since we ve got a good for you really excited about their tanks, and I saw the trucks and, as of today, I'm starting a second job to bring in an extra thousand bucks months, I'm still trying to get the chance. The question that I have is around the Karas report last year and that we should keep her so much to go on it. Ah me, I was thirty one on how much other data be got. Other than that we have a hundred and Fortys du monde, you know what your household income.

As of today is one thirty two and when I start any job next week and go up to one forty, that's a car, you could have if it were paid off and you were dead free, but it's a very, very big car lonely making a hundred thousand registered London shall work. In your shot, move down to about ten thousand our car, that's what I was wondering, because I had this possible much five or six months put them out. Does all that equity sitting there we should be using so we ve been talking to you. Couldn't you could have thirty thousand hours were the student loans, paid off in this chamber today why right yeah, recently started working Kilos by W W W over gave girl. My wife and I was on board and decide upon me into harder. If she'd been out, it's not it's not a freak out thing I may not have jumped I'm down like you're an idiot or something, but it is. It is a big old chunky, Carla

It is no use, go slow down your get out of that plan. By probably you're in a half or two years is pretty. Two of this is that I objection. Here,

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I give a joining us among others, the diver amnesia were so glad you're, whether open phones AAA eight to five five, two to five. Cindy is Witherspoon Minnesota. I certainly welcome Ramsay show how lonely thanking her, can I call I'm so excited to talk with you you to watch up oh I wouldn't want to protect them. I am I am. They refer to mobilise so I'll, be as good They can four years ago I was in the sole crushing corporate God. Making extra. Doesn't I hated it without a plan? I must it and had their quickly figure had eleven half on the income.

The downside, your house. We saw their new currently taking up the budget as much as occurred. I'm a couple years into that you found you one day: following revamped. I plan you back the retirement paid out, the ban on our thinking on that last year, I would add that fire. But my question is more about our second market by one may knew how to run of either a first mortgage. Four hundred italian rivers right now that sixty thousand what you're, having only one hundred ten combined my husband, an air, forty, seven and forty eight. We have about I'm an idiot I've been retirement right now Please we reach people or we teach folks on. The second mortgage is that of its more

Have your annual income, which it is then a relative baby steps, six, which means I'm gonna, do one of two things where that is undergoing a start, paying on it. When I get a baby steps, six extra before our reduce the first mortgage or you might consider refinancing, enrolling it into a new first mortgage. What's the interest rate on your current for mortgage three point, seven, and what's the interest rate on the second mortgage, I'm going footprint eyed and what's the balance on your first get me now you tell me: ok, I think I mean you certainly can get a two percent off of r r one half percent off that

Second, mortgage new progress over half a percent on your first mortgage by ratifying under fifteen year, fixed and rolling them together. If you're gonna stay in that home, you may want to look at that. You may want to shut them, pay em like they are, but it's a baby step six item because it so stinkin big, that's what it amounts to. So you just treated treat the two mortgages as if their one in baby steps, six and you'd start paying them baby steps six. When you get there in the process and meantime you pay minimum payments on both of them. Now, if your second mortgage has a balloon or call or is a variable rate of them that ensures that this tells US period, you need to refinance and get one mortgage the takes care both of em and that that would wrap it up for sure. Cynthia is Witherspoon. Iowa high Cynthia welcomed that over him she shall.

How are you? Are you better than deserve? What's up with great fall under the nuclear programme? My thumb actually introduce me to you. He's visor call my cover books by the case and gives them his wedding gift. Oh, my goodness, yeah so often thought I might have been became disabled. Five years ago and he has not been able to work for twenty five years and we want prepared if we had fiction children at home at the time, and we ve only been just trying to keep our heads above water financially sure I'm heat it. He just turned sixty five and will be receiving, have penchant for were trained best to decide. How do you utilise that money? Well, that's why I'm calling she's gettin rid and get an income increase. Yeah yeah, I'm I'm she's going to two hundred and seventy four thousand dollars in lump sum. Well, that's a question. The company is offering want some or they have like ten different options. We could put it into our foreign trade. We could take their barrel where

not tonight. Annuity Albert that's benefit for three sign for kids. If I die, you What I would tell you to do is to sit with one of our smart vesture prose, I'm not investment business, but we have people that we recommend that do a great job and sit down on one of them, and I would role this into an IRA in some Glinda Growth stock, mutual funds that have long track record here's why that's gonna, give you a much better rate of return than leaving it over there. The old company We'll make more money on the money while you're alive, also vagina pension and he dies. It does withem illusion unless average around one of it, but then, when you died, it does, but when ro it over into your name. Now that money is yours, you're families for life and

in parallel life itself. Actually they do offer death benefit. That goes to me and then to my children with the company when about right, and then I thought what about a variable annuity but now tat you need to other guinea to be in some good mutual funds. In a good I re and don't write, transfer roll over is what I would That's gonna give you the the of control and emotional money, the most rate of return on the money and so click smart Vesture at Dave, Ramsay dot com and sit down with someone with the heart of a teacher that I'll show you how thou show you what you're doing and you'll understand what you're doing and then you can rode into a good IRA and some good mutual funds what we recommend to what I would do if I were in your shoes, but you do whatever you want. This- is that I've Ramsay shall open phones, interpolate, eight to five five, two to five,

Davis, Witherspoon, Ohio idea of. How are you neighbor envy good. Without you refer you to my watch up, they ok so he's already our church about twenty six one miles from my house: I've got an economy where we have all old cars which have very well. I wanna go we have about because of you in your programme, that about three thousand dollars with a debt that will never again be done here. So, but what I wanna do is an hour, but I could talk you into it. Is I spend about a hundred sixty bucks and gas amounts to and from work I'd like to find out how the cash to do it, but like to borrow five thousand dollars to get a Toyota prayers and cut my gas payment in half, basically, five thousand,

hours would be about a hundred dollars a month and unsafe and eighty dollars a month in gas. So that means on pay and twenty bucks a month for my car. What do you think I've never and thirty years told someone to borrow money back. Are you and I am certainly not gonna start today? Ah sound total said no, it does not make sense, because various was gonna have higher maintenance and higher insurance than the car you ve got now, and so your analysis is leaving out a whole bunch of numbers and you're gonna end up losing money on this transaction. When it's all said and done, plus the produces more expensive and he's gonna go down and value more than the car you ve got, she's not be the use of an but I've gotta value more in the car, and you ve got so I don't mind you better get. It sounds like you need to get a better car. What your car worth I'd, probably about avenue for fighter two thousand seven hundred odyssey, it's worth five thousand dollars

Yeah you're writing on five thousand dollar previous you're, getting a ten thousand on every issue. My right, why what's happening to the values that we are going to my daughter, ah motor, show your borrowing money she can give you A car here whenever I definitely borrowing money, that's what I'm trying to say fight. I'm spend twenty bucks a month on the other, on the prayers rather than yours. A better idea about a better deal can elders your daughter, she's. Seventy action, is grown apart around our lab and save them buy her a shelf, a bigger, and if you take your father was not vanish Shelly five thousand dollar prowess and I don't have a car payment, but you gotta teenager that another car a well. We can work that through this is the diver amnesia,

Thank you for joining us. Amerika were so glad you are with us common sense for your dollars. Incense, it's called the Dave. Ramsay show their vision. Marilyn deserve our yo on yourself. Better I deserve. What's up, my watch. My arm baby steps to me both share a car. That's about thirteen years old. I just recently. A thousand dollars towards it, and it should hopefully you gone, but we have a tax reform coming up that I'm looking towards three options: either. Towards the last ten thousand dollars we haven't heard from MR mom either to save for

when this will eventually dies or to say from my wife, who's gonna be going to, hopefully gold pre about a year, a year's time only to do ph girl till we get out of debt and save the money to do it, so that would not be on the list. For this money. Biggest attacks refund looks like about four thousand dear and other just did it for this coming year. Using the eye. I urge calculator soil more, have that again next year, good for you well done so four thousand bucks. I wouldn't use it. What about a second? I was gonna. Take it. I was gonna hear that happens. I haven't worked Surely local ends we are managing with one card, you think, is the reason for it to get a fuckin car. Now, I'm just that kind of thought, your rubberin up. It's ok, I'm time tissue

Look, I'm sorry! I don't want again to death, so I not want you don't want you! You have your one thousand dollars starter emergency fund right, yeah! Ok in you! we have ten thousand dollars in that laughed correct, and what your household income fifty five thousand and my wife right now is in school were cast for that to get her bachelors degree. Okay. So if you put the, thousand towards the dead. How quickly is the other six thousand gone were a morally pushing and aiming to get it done. Lesson years time before She gets her masters degree six thousand dollars in a year. Yes, no that's was he were not doing that you need to do better than that. Only five bucks a month. Dude are you,

live our written budget. We are living on a written about, unfortunately, were living. We don't worry, have any option to move elsewhere. So my ranch is twofold: dollars. We do have a budget. We fight matters. I want you to get that done and, like I was hoping you got him in three or four months. I really could push for that. What I do, I guess: they look up thousand dollars. Let's say right now in my checking account, but I wasn't sure the task now using what you just said? I can just bought at the debt, in which case, though, knock down, we're still, unless, let's just get that's what I want. What I'm trying to do is get that thing done so that we can move up in car a little bit with cash and get your emergency fund on, so that we can get her start slaving towards PH school I'm trying to lay out a timeline of dominoes here that work together. Gotta get it

That's what I was seeing mathematically my head, the faster on the road. Ten grand. I would use the foreground towards the ten grand, but under the under the assumption that we don't go crazy and get the rest of that done so that we can get you a little butter car, because that's what you're worried about and then it's your emergency fund built on up and then you'll be in a position to saved, her preschool, because your house wiggle room got it and yeah, that's exactly how we do it, but but I would not do that if it's gonna take you am, I might think that if it's gonna take you twelve fourteen months get rid of six thousand dollars because a long time, for this are to have to stay together, What you're saying ironically running it where the debt fast enough and get you into this gathers car before it blows up on. You makes sense to me: that's my plan in all

the longer. You drag this out the more we get a rethink. Our we probably need a change cars if, if it drags em, if you told me sixty thousand origin, that until you abuse of mine, a bridge your car, so that you make the slug through the rest of the sixty thousand, but we cast six thousand hours, ten thousand with four to throw out at MC up, while the checking account- and I do not think we can get there five before the car leaves us before it goes to car Heaven. Complicate its current Monica and Texas. I Monica aerial Heidi. It is an honour to speak with you and so excited my call shop or common alright, I would be my husband are currently in financial terms. University and we are in baby step four five and six. I am I

my government employ, though I have a t f, p forward, garment, I'm cutting fifteen percent into that. He is p. I currently at sixty percent and see fund twenty percent, Anne S and twenty percent, and I don't have that kind of. I read it in the complete guide, the money. That kind of how little sometime I mean lightly. We ve been also saying eighty percent and see and ten in Essen, but The eye has been so underperforming, it's ok, you the way is not the end of the world Have you got in the raw option? Ts p. I do not agree with my next question along I'm. What do you think we have a five percent match? So do you recommend doing five percent interest that he has seen those funds? during a rod appear speed through the Roth on everything, but the match portion is not wrong. That's all the here's the ruling

It's kind of a rock paper scissors thing. It's easy to remember, match up to the match beach everything. So the first thing we do is we take that five percent proportion you put five and get the vat match right. Ok, match beats Roth Roth B traditional, ok and so you ve gotta Roth Available, the only reason you would do and outside Roth is, if you wanted to get into mutual funds that were out performing your ts, p options, and you probably do that so. If you really want to get like super nerdy about this you're. Ok, doing Roth too F, p and just take your matching. Go go to town you're, fine with that, but if you, to say: ok, I can do better in a mutual far into mutual funds, with smart vesture pro than they Then the young. The US in the eye and say you're, giving me which you can. I wouldn't be like light years better, but you can do better.

You might make another company percent a year, in other words something like their end also, if you do, that, you take the match portion entity, pay, wroth and then you'd go to regular individual rots and if those two Here's together, don't get you to the fifteen percent than you would do more non matching ts Roth, ok, ok, and then show you're, not gonna, be out of that you're not gonna, be other off you got Roth available. Show the rice, something and certainly not take the five percent match than the only question is. Do you wonder at all in that he asked Here, too, you should put up a little bed by going and I'm going to the the outside mutual funds for the small investor pro and you could do that that be ok to do. That would be technically mathematically. The best thing to do some good question. Thank you for joining us open phone.

Eight hundred and eighty eight eight hundred and twenty five five thousand two hundred and twenty five on Facebook Shadeland says Dave on my baby step. Two, how much should I contribute every month to an Hsa? Nothing Hsa is a health insurance program that has inexpensive health insurance because it has a height of and I usually covers a hundred percent, most of them after the deductibles covered, and it has a savings account that's optional as an additional thing, and I would not put money in your savings account your age essay at this The point I would later on, but now warrior in your baby step to it would not do that. Some thanks for the call you can the baby steps, the official baby steps Community

about a couple hundred thousand of you on Facebook, in that community jump in there. If you want to be part of it. Obviously that is free and- and we look forward to it to have any other. Haven't you join us. That puts us hour of the day, Ramsay show in the books our thanks to James Childs, our producers, Ella Daniels, our associates producer great job to make ensure You don't get on the air unless you're supposed to. Kelly's are mean a nasty phones greener, but just legend, but Legend usually have some truth to them. This is the diver empty shell hey guys. It's George Camp host of the day, Ramsay Show video Channel

now listen to the show on your smart speaker. Just tell your Alexa or Google device to play the day. Ramsay show or find out all the ways you can benefit at Bay, Ramsay, dot com, slash sparsely 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 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 show wherever you listen about gas, hey it's just Producer of the Dave Ramsay show this