From the headquarters of Ramsay solution is broadcast on the car rental studios. It's that Dave Ramsay show work that is done. Just gang and paid off a mortgage has taken the place of the Bmw status symbol of chose I'm Day Ramsay your house, you jump in we'll talk about your life in your money. It's a free call, a triple light; two hundred and fifty five two hundred and twenty five, eight thousand eight hundred and eighty eight Five, five, two to five. Christian is where those in Louisiana high Christian Merry Christmas,

How can we help a few days later expertise worth good I'm trying to decide if we want to go ahead and pay off our home mortgage we will in the house for about a year, and we are in the process of expanding our business at the same time, ok so you're dead, three other than your home. Yes, your emergency, fond of three to six months of expenses. Yes, and you have for money to pay off your house, which is how much crossly, two hundred thousand dollars in itself directed investment account. So directed Irae now just eel stocks in Egypt, of my record, our shame two hundred thousand dollars in investment account simply done. Ok,

and your business. Expanding, and you need to spend more on it to expand your business where we are, eight thousand dollars in expansion? Expenses left to go as at this moment. Is there any money in the business to do that with we leave the eighty thousand set aside in cash. In addition but the two hundred and investments correct and on your mortgage again is how much two hundred fifteen thousand Show these things are not in conflict with each other. You have the money. To do both correct correct, and why wouldn't you well I thought you were probably gonna. Tell me I'm pretty! Well, you know

There really is no specific reason. Other than that. I want to make sure others. No unforeseen business, extensive extra expenses during this growth process. So that's what I'm trying to calculate in a way that decision is based on that what's the matter off at least once in their profits annually on your business, it's about a hundred gay and then and then I have a position, make another hundred k so about juvenile. Also they come power. You thirty! Six! What's your house worth three hundred fifty you have the business one year but the businesses then she's ever built for but much longer, but were boy part together now to grow it she moving. Not for a year, your wife, I'm ok-

The business has been in operation alone. Fifty years aka gun Jericho. I get you Just because you, if you ve, seen some opportune, upside and you don't want to get in. Flow pinch, here's what probably here's. What could happen as your wife, case scenario: you pay off the how she usually eighty thousand of expansion for expansion, and then you had a bump and expansion. Slowly or you have another opportunity and you wanted to grow it even more, but you just don't have the money right now correct those that's really them within he's. Gonna happen. You're, not gonna close up. It's not gonna bank rupture, you're not lose everything. You know wish you hadn't paid off. Your house has not even gonna come up to seriously. The thing that happens, that is hard to Mathematical put your hands on until you ve actually done it and you felt the feeling what happens with

A small business people when they have zero Dat house in everything. The decisions that they make at the office are different. Right now. You ve got this mortgage hovering over your head. In the background you ve got these invest tat are going up and down offsetting Over on the other side, in the background and your you're trying to make business decisions when everything is simplified and we have Z wrote that we're not gonna lose the house, no matter what occurs with this decision. Suddenly you Take a lot of weird risks, but you just Youtube: with a different level of confidence and it ends showing up on the bottom line. Urged and I watched it with Entre leadership. People that we worked with for twenty years on small businesses as well, and so I woke up in your shoes. I will pay my house off tomorrow and then concentrate on one thing: not House TAT night

Russia must concentrate on this business. And you're gonna spend the eighty that you ve got more carefully and yours Watch every dollar and you're gonna build up your liquidity back in the business again, probably in a year. You don't be amazed at how quick this thing gross. That's what I think should happen thanks for the call the eight hundred and eighty eight eight hundred and twenty five five thousand two hundred and twenty five? Thank you for joining us. Tanner is on the line in Oregon Outcome of the programmes you ship than today, my call abrogated jerk. What's up, though we, my wife, regionally, you got that I am wondering what we do with the extra money, every month, Rwanda, while they build a house in the next two to three years, And were trying to figure out whether we should just turn up money into the them, We already have right now or to stockpile it up in cash and get ready for the expense then, or you have your emergency phone implies first

and then I would just go and work your baby steps yeah that meets play down the mortgage because a man nothing will happen. When you sell your house, the money that you pay down, the mortgage will be handed to you in a jacket. The closing. It's not your, not spending the money. When your brain down your how'd, you get the money back, your increasing these charges, we're equity, and it doesn't get away and you're making about three. Four five percent, on your mind, depend on which mortgage radiation are bad. Red return for liquid cash was not relinquish, but for that A situation Urim, Goin play on the mortgage course, that's gonna prison data to sell the house to get that money out to do the buildings, which is what I want you to anyone on? What you keep a house and end up with a more drove on their side and

being a landlord by default, not that kind of stuff you pay cash for your rentals, so you're not gonna. Keep the house at your living in anyway, so it's gonna, sell whatever left on. The mortgage, of course, would be paid off the balance the equity will be handed unit jacket. Closing you move run along exactly what I would do, thanks for the girl, appreciate you joining us, open phones at eight hundred and eighty eight, eight hundred and twenty five five thousand two hundred and twenty five. It is hard for people, never lived without a mortgage to grasp. That your shoulders loosen up the strain around the base. Your neck solutions up. You don't even realize that you are carrying stress but the borrower is slaves. The lender one. Percent of the time. You're, not the exception. You mean feel it cause you have. A nice master. Small mastery and a lot of mortgage or something that's fine,

When you have zero death, then you take your shoes off walk through the back yard. The grass reels ever so different way of living here is really living It's the season of giving switcher cellular service to pure talk, USA, save money and get a free copy of my book. The total money make over and a copy of Chris Organs book everyday millionaires, plus twenty five lucky winners will receive signed copies of both books. Folks, all of pure talk, USA plans include unlimited talk, text and Data

with no contract. Try risk free today, just call pound to fifty and say the key words Dave Ramsay, that's pound to five zero key words, Dave Ramsay. Molly is in North Molly. Welcome that over she shut day they were taking. My call sure. What's up, are you a question regarding five before one k, my company currently offer additional and thereby avoid them. Traditional, I'm fifty five years old, almost fifty six

my financial plan are about either you just going a lot for one k or rolling it over here. Ass it because at my age to just continue with the traditional is any reason that that makes sense I mean it's probably borderline mathematically, one where the other George the permanent, when you're, actually gonna pull the money out. Money. Do you have in retirement In my four one k I have about two hundred and forty k, and I also have a small pension for my company, but it's like thirty thousand under single. I am single, ok so yeah ITALY alone, probably would you're gonna use some of that money. Beginning a year to retirement age for issuing sixty five or ten years from now and I'm here's the ears of

formula, here's what is richer, looking out, ok, the wrath, of course, gross tax free. That growth is tat for a year already pay taxes on the amount, you put him because it's a pretext contribution and why the the more the growth is, the more the growth ocean of your investment is the more it matters that it was wroth. And so, if you start when you're thirty and you do this until sixty five. Ninety six percent of watching your account will be growth. Only about four percent will be the money you put in So the Roth is absolutely vital when you're looking at those numbers in your case most of what You put in the next ten years is: what's gonna, be there you'll get some growth on it in the next ten years, but it's be massive. So more than half of what you put in from now until she evolve

are more than half of what is added to your balance, will be money you put in and so that the rest of its tax dissolved announced through the growth is taxed, Growth is not taxed and, of course, you're getting the tax break now on, because you're doing a pre tax investment in utter some mathematically. I think you're gonna probably give you pretty good advice, you're right trouble you're out the bubble. Now I would share. Is the advice. If you had eight hundred thousand, because you weren't gonna get to them. Believe that Roth money alone and grow longer because you would eat you would eat the traditional portion of your eight hundred thousand and your growth money. Be left alone, probably never touch it yourself. It probably passed on to your air is right, but in a case. I would do Roth, but you're gonna get into this. Two thousand you're gonna use at least some of the income off of it and Europe Our minimum distributions You'Re- I am days,

began at seventy and have you have a request, and all the traditional money out so you're gonna get enough money. I think your profile and it should stay right where you are you're right on the border. Anybody, much younger or of a parliament where you can leave the money alone a long time. I would do Roth Frances, I'm fifty nine and I'm doing all Roth everything, but I'll. Never much that money, it just gonna, grow, grow, grow, grow, grow, grow, grow, tax, free because I've got plenty of other investments and other things, and I'm just going to let it sit there and just make a big old pile of money. Smile and that the government gets nothing and that's my plan, so also in my case, because I've got a larger nest. Egg, I'm not utilizing that money than they can grow tax free of longer period of time that starts to Michael someone everything is Roth right now for that region.

Long? You can you leave it alone, a long time for whatever reason and the longer. You can leave alone. The more you would do got lean towards the Roth, but I think in your case but around the bubble. Mathematically, probably state which you know thanks for the call, MIKE is in Massachusetts MIKE welcome that I've Ramsay Show thinks that they can make all churn. What's up. My wife and I am new to the programme or about to start baby step to and were conflicted on what to do with a car, we have to sell it. We have a couple thousand and equity on it. I want to sell it, something less expensive and just drive for a few years we upgrade or whether we should keep to our snowball. Do you like it yeah we like it? Ok, what do you want? It. Sixteen ok, while on the other car, what shall car worth the other products are the leaves, and we actually just saw that were in the process of

we have here a little bit upside down on only about fifteen hundred borders. Can I you know right now and by her something in the three to five thousand dollars range. Show you like Twenty twenty thousand are shot up in cars What, if you keep it, what it? What are you what your household income just under one, fifty Diana more than reasonable? We tell folks not to have things with motors and wheels all Together, that's more than half your annual income. This thing, motors on wheels go down in value and you're, not I mean you're, not you're, not you're, you're closer to ten percent. Then your fifty show your in good time there. The other question is: can you be a hundred percent debt free, except for your when two years and is the car keeping you from doing that in your case the cars we knew from doing it. Even if you ve got a bunch of other death, it's not the problem. Much data. We got not counting house with the car about thirty six thousand

when you make one fifty issue can be dead familiar yet we have the rough calculate, we have done enough. We really go out at. We thought we could be TAT free about eight months if we saw the car and if we can keep it may be extended by five or six somebody. I thought if you keep the car, if you like to go keep it paid off. Ok, it's not out alone, it's not in the crazy column. It's not like what you are not the right. You did why it's not that car a new here, those cars you hear people call him that car right amount forty four thousand on my car I make thirty six thousand year. That call right you just go But there were near that you're just use truck and long here you get paid off in a year to good car, It's not aligning not got too much tied up in Preceding assets, things that go down in value, and so you're doing the right kind of stuff I do want you save up quickly, shrouded that move Mama back up and Carlo bitten cash, because your val each other,

give her your car on the to cause, you showed her car, better law is Mamma gets a good car, another federal law, the Tilbury law, but it's I'll show courage and law it. Some It's it's allow in almost every neighborhood, so Mama gets a good car, a child at work. Phones, a triple eight, eight to five two to five Lovett Germans, whether in Florida, high Jem. How Aria I'm good? Sir, are you then I deserve, what's up in your world agitated question for you, which it is it, a dollar amounting Summum copper would have in their reform. Under your retirement type accounts, you decide not yet apply long term care insurance would itself ensure good for you. Well, the average Nursing on bill is LU, LU, overfished, thousand dollars. Marginally, ok

probably can do in home care. That's very high quality for less than that, depending on the level of care you need average nursing homes day is about two point. Four years, only twenty five percent the people that go into a nursing home stay longer than two point four years show just rounded up and call three years if it's three years at our knowledge round up there. Data. Seventy five yonder that's to turn a quarter average risk. Then ok, that's your average. Ask you wouldn't want take that risk? If we only have a half million dollars What have you got? A million dollars. You could probably take their risk right. In other words, what you know when you burn through tuna, quarterly mama, with records or million when you die, think she can make it that's what we're doing well run and southward run an idea of insured scenario. How much you got what you must exercise

One point: nine million chauffeur ensure that I planted a plan to drive the money. And you're probably end up by in home care. By the way, our quality our quality of life, if you need some help at home and you can pull it off. This is that Abraham solution, then in Colorado, regretful beyond our gonna help recruitment, David FIG, Michael turf. What's up I have just a little bit of stood alone there and then,

the debt from the house? Be it, and so my question was, after all get rid of the student loans. That I'm kind of nervous about just Chauvelin big, while the money on my mortgage, Indian miserable for the next You know nine years until I'm thirty five was planning only being measurable the girl intensity stops after your dad, free accept your home and your emergency fund implies. You do need to run like your hairs on fire until you get those done. Ok, cause you you're really living at the edge of a major financial catastrophe? If you don't have an emergency fund and used to have a power that, but when the student loans are gone and you got your emergency phone implies, that's what we call by just one two and three: have you heard me talk about that? Yes, I've been watching you, but a week, and I have ten thousand dollars in an emergency phone, and I have thirty groundwork, assume that I get paid off in the next year. Well, what we, teachers baby step

a thousand dollars and any money that you have above that should go towards your debts, accept your home, We should have to Israel should have smaller. Two largest sounds like you, seventeen thousand that you would throw with a thirty if you're following our plan, and then you would be free very quickly. How much do you make a year which her household income I make? Eighty one thousand. Making eighty one thousand got repaying off the remaining. Thirteen thousand should be our matter. Six months MAX, probably for months, and then you rebuild your emergency fund to three issues: months of expenses as baby step three now one done that, then you let your foot off the gas show by time next year. You should be letting your for gas, and I were fully funded emergency fund, but no payments brows payment. Now by letting the I guess I don't mean you start spinning, like you're in Congress. Again I mean you we have intentionally ever written plan which are doing things on purpose and baby steps for five and six are fifth

Percent of your income goes to retirement. This is the stage if you need to upgrade your car, want to go? occasion upgrade your couch whatever it is. You save uptake for that, in addition to fifteen percent going into investments, if you have kids by that fathers saving for their college and six is paying off the house now people looking that plan. In other words, the baby steps forward. More and more of a rhythm, your and less of a sprint, Zat logical to you. You can't look. I want your there. People working that plant or paying off their home for them thirty years. I ve been doing this in somewhere around seven years and the largest study of millionaires ever done in North America. We did we completed about a year ago, a year and a half ago, Chris Oaken put it in a book called it Every day, millionaires and one of the key data points that we found,

as restoring the millionaires, is the typical millionaire pays off their home in ten point two years. And so it becomes an essential part of your overall net worth, and you have payments anywhere wow now you're an abortion released our buildings from wealth and be outrageously generous, and so that's where we coined the phrase like no one else. So later you can live and give like. No one else. Keith is whether to North Carolina high Keith, our you. I'm the one way or day. Thank you for taking mecca sure. What's up, I'm forty The banana com of recently increased to about one speech de LA at the Vienna every day now or each were found to find your show shovels into it. Look at our entire financial picture about there's only two. Thousand dollars. You lay

thousand dollars in there. I have them. Whole life policies, by catch them all out. You'd be seventy two thousand, which will mainly about six thousand dollars in positive, perfect, a car insurance agent, and let him know that I give barely four here. He wants to set up a meeting and talk about ways we can get me out a day at the still contains in her life continue to pay out. Nobody does here he climbed the data that making a residual about these policies, because you're so old I've had some you know, I'm talking about two thousand three and then another one. A couple years later, externally, but as said that his bonuses based on retention of customers, ok, gotcha, But I'm louder than murder. You still there's no reason our meeting with a guy. I don't have time long meeting for people in firing yeah it's a short meeting. Are you not be unkind, but it just you're fired? I mean we're moving

dont cancel those until you have proper amount of term insurance in place. Gotta Zander Insurance and get your quick, easy quote there and then do I urge them out because it's gonna allow you to do. That is the problem. They're, making almost no money return returning horrendous and when you die you're gonna lose seventy two thousand dollars all they gonna pay is the face value and even paying exe for this cash value all these years and you don't get it when you die away Here's the face value, the policy, the whole life. Policy is the pay the lender of the middle class. It isn't absolutely a product horrible product screw and consumers an unbelievable right for decades No one cells that stuff anymore. No, advises people to of anymore, except people in the business. Live. People are the only people to say no financial planners. Body that rights does what do

nobody. Others, as our whole. Life is wonderful unless they're in the whole business. No, they only once and that should give you a clue but all the prudence gurus riders, bloggers of any sort students anyway, that are out there. Best, showing books on money, no Girls were whole life. Has its place. Gross horrible spider. Lender So that's what you do what I want. What do you want to? What I would do he's got my term insurance implosion. Guerrilla crap would not have a meeting with the guy writers in Georgia rider welcomes that ever amnesia. They do better deserve. What's up. EL. Madam president, Jordan. I suggest now that you maybe last weekend terrible mama, I'm trying to learn about the butter and after the envelope system, actually last night and burnt down all my stuff No mother, all the normal way

before any I'm talking about In total, I comes out brief thousand dollar mark twenty five hundred Mark Watts. Battles are more about eleven or twelve hard. All this I out too trying to see how my I'm trying to say the least. North and get our damn also adapted? It was about eight thousand I'm just trying to see how much should be saving a month. These laws are the way as quick as I can, of the I have just done. You are struggling to make gently on foot I will not be on the right, you're sure woke up and realise not telling money. What to do major just leave absolutely why you figured that out says on much agreeing that you think you're bankrupt

about an hour ago. I mean how much there, indeed after faint profound chapter, seven well, a lot worse than worry, Archer You do everything you can do bankruptcy in divorce or in the same bucket you do it you can do to avoid them, four unpleasant, there's, never a situation whereby some Ngos, I'm really glad. I did that unless the wacko Your arm, your honor many boggles, you're divorces are around. I have heard that, but anyway, just as just a hard process, and I wouldn't go through it. If I didn't have to pay, loans or not bankrupt the boy anyway how much debt your six thousand dollars to eight thousand stood alone right. And then I got a guy. Will they cried out credit? All debt? equals applicant gardeners, good news, ok, where you can Right through the sure, I'll help you merry Christmas to you, I'm gonna go

in financial patient diversity. The one your membership and it's gonna- have put you in we clashes, Welsh, all included and I'm gonna pay for it can be completely free. Show you exactly how to do a budget sack we have now that you're, not back rupture. You just need a plan. I need someone to guide you What I do you hold on and I'll pay for it merry. That I rams

those is in Arizona Merrick, Worthless, Shannon Welcome today, Ramsay show. How can I make you you two? What's up Well, I I have a little problem: I'm not sure how to handle it. My mother, oh five, he turned back, I've seen it and let me in March, because you can have another way to go I'm a single mom. I make I'm out forty thousand a year, I'm trying to work your baby fat and she doesn't seem to think about. This- is putting up financial strain on me,

so does she have an income, social security. She had seven hundred a month and she knew TAT were her. Car insurance in her car came at and money that she always to be higher up. They're gonna give me about two hundred a month, but that's including I pay for cell phone bow and that's including crosstrees, and everything else. How are you working on in an you? Should you might know much about forty five minutes and I have two daughters and how to them. I have fourteen and elaborate sounds like that:

You have a real hard time telling your mother now, I think, actually had that conversation with her ever about anything. Yet I have this. Woman is a big big personality and she used to getting her way tomorrow. I'm doing ok while I'm so is. Why does she not work? He doesn't want you he fancies required on. Well, I would say this mom. I brought you end because it too much.

Homeless. I can't afford to keep you you're too expensive. I have a responsibility to my own daughters and to my own pocket book a mile future, and so you can stay for a few more months. But you're gonna have to get a job and you're gonna have to get your debt cleaned up so that you can move out. Because you cannot stay here, the rest of your life, you, not retiring and may pay for it. I don't have that kind of money of you. I'm really sorry that I cannot give you money, but I don't have any money and you're telling me. Your stretching out the situation so much I love you. So much will tell you the truth. That is, you have to get a job because you're broke so that you can get a place to live. You got six much June, one

you're moving and you know what can when you do that you know. Do you should? Yes, you do She's gonna have what we call in Tennessee a duck fit ever seen a duck outfit there. Isn't she And pressure, because no one tells her no and no one boundaries with her he does whatever she wants with her muddy boots and walks around wherever she wants she's not mean she's, not nasty. You just and never exceptional was possible answer, and so and she's gonna become a travel agent for guilt trips. Well, I changed your diaper you'd. Thank you, big rightful, are you I now I'm not ungrateful mom broke and I can't afford to feed you can afford to take care of you and you're able, bodied and unit give job.

And pay off your Irish and pay off your car, you a nice life. So you can be a good grandmother, dear grandkids, instead of a parasite bringing The future of your own grandchildren. Are you below measure that should be really on the aspect, but you know you ve got to deliver this such because you really can't caper Kenya Eric hand. No, this is gonna, be a very hard conversation for you. Because the first time you ve ever done this with your mom you're forty years old. I have tried to cover thirty day, not at the end. He she says, I'm gonna shouted. He heard a court. If I want her out boy can do that. If you only that will go into that more if they, the way you return. My kindness bringing you and show that you're not homeless. Is that you're, a belligerent, which I can take you to come.

And we will do that, no more than others go, get a lawyer and we'll get you thrown on the street wasn't gonna trundle Mama's, trying to help you, but get to decide what happens at my house, cod. This woman is belligerent. Who says that. I'm moving in your house in living there, because oh kind, and if

What may leave you're gonna have to take me to court what a jerk interrupt. Yeah, I'm sorry, I'm sorry for you get a very tough hey. Are you gonna good church by chance there? I am which were where do you live we're partners on the concrete area? Ok, so you're in Phoenix finished, supper bright and gather yeah lots of good congregations around there. You proud, hollered, your pastoral surround talk to him, and maybe he can even help you reason with

mother? Did you? Probably some minor corner remind you that you're not evil and you're, not crazy, because you're, not you're, not out of line here and again, when I just put her in the street, were just thinking we're just thinkin. You know her mom. This does not work and I can't do it and you can accept that and you ve got to deal with your situation and your able bodied national reason. You can't work and you're gonna have to get you don't get just retiring declare. Someone else is going to pay for it. Life work all non emotions, your copy, Dotterine clouds, book boundaries, you're gonna, have to read it over and over and highlighted and put low sticky notes all in it. That's what you're dealing with its very painful, very painful, to have boundaries with people who refuse to accept boundaries and you're gonna die from people in your corner, motioning to walk you through this,

I'm so sorry, it's it's harsh, but yeah yeah. Just here real loud and clear from me, you are not the regional born in this conversation. You are not the crazy one. You are The ungrateful one, you are not a bad daughter, you You are not a bad person. What you have described Here is just financial abuse and some one that has taken advance, of their relationship with you to bring you harm and its toxic as it can be. So I'm so sorry again, I wish we were gonna die open phones at eight hundred and eighty eight, eight hundred and twenty five five thousand two hundred and twenty five thanks for jumping in You know we live unaware generation, the forty rather the fifty year old. Rather, we call on the sandwich generation their share between taking care of their parents and their kids and on

the Good NEWS is that the way to get rid of the sandwich is just get rid of the bread on both sides. Xo mom and dad. Yet a plan son, NATO plan. None of you living in the basement. We have plans for our empty nesting years. And neither want to you all- are lower than in the basement in moderation, have you move in, we may just move out and sell the house, a thirty year old in the basement and a seventy five year old in the basement. The same Damn good Lord help that's, what's going on out there and its, because neither group none the people in the whole discussion are handling money well, and so what that's. None of your goals, oughta be to change your family tree and decline that. You're not gonna, be a burden on your children. One of your college of your twenty four hour B. But this time to throw up

the burden on someone else's a modified. You gotta, be a contributor. To society, not so it takes This is that I ran this is James Giles producer at today. Man once again made today raises show one of the ten most downloaded get your daily dose of motivating inspiration subscribed to make more money doing what you love check out: Cresty rights, business, booty, podcast, precision,

firing in quivering women to become successful, running your own business ham, Christie right and I help women all over the country, take their ideas and passions and Hobbes and turn them into profitable business. If you have an idea in your head or dreaming your heart and you ve ever wondered if you could make money doing it, I'm here to help join us on the business duty had cast where we are equipping women to make money doing what they laugh hear more from the remedy network, including Christie, Roger Beetles, booty, pod gashed. Wherever you listened about gush hates, the producer of the Dave Ramsay show this