From the headquarters of Ramsay Solution broadcasting from the dollar car rental studios, it's that day, Ramsay Shop. What matters down guys just pay it off home mortgage has taken the place of the Bmw, those that are something we know we're so glad you're. Whether links for hanging out today is the day. Almost everyone is back at work and most of the kids are back in school. The new year has officially started the traffic is back up and we start our rhythm with our.

Goals and our new mindset on our new resolutions. And our new fresh, clean Lear, Year in front of us. So what're you gonna do with it. What are you gonna do with this year. People who win win, intentionally. Winning is not an accidental thing, Never interview someone at the end of the super bowl and say How did you win and he says the version it just happened an intentional act. As a matter of fact, it's a whole series of intentional acts. The get you to be will clash in your category. Your world clash in your career, your world clashing your marriage, rural clash in your parenting. Oh clash. Mom.

Some intentional act: it doesn't just acts, Daintily happen, or choose to put things into their life, behaviors abbots, and they choose to change. To get better. And by the way, if you have not chosen to get better, you have by default chosen to get worse. Because think stays the same. You re the growing, are your dine baby. And every relationship, your energy, the growing arts dying every? You're doing is either growing or die Getting better or getting worse, And a lot of it has to do with your choice. I have big dreams, good we're gonna do about it. I like it big dreams. But if you stop there, you what's knows a dreamer which is Not someone most of us want dating our daughter. You know I just be a dreamer, you wanna be a doer, charged with a dream, but a dream?

we're close honest, called go. It's not a resolution. That's gone by Valentine. Today you can't find any room in the gym this week, a Valentine's day: every machine will be open, no problem. Just wait. A few weeks, it'll drop off a cliff and you have all your machines back. If you keep going goals work must be specific. They must be measurable, At a time limit. I want wait this year measurable, but not specific and another time limit owners. We pounds and ninety days now we have the beginnings of a gull, it specifically everyone has a time limit. A year ago, my wife wants me loose thirty pounds united under not going to adopt. My mom always wanted me to be a dentist. I don't want your patient. I don't want you learned, I'm only hanging out people living other people's goes through their body. Now live your gulls. What is it you own

Was it the juices, your brain up and make sure go? I gotta go do that. I can't not do it. And others to double negative, but I don't get my show. I can't not do it. You can't keep me from doing it. I have to do it Lastly, goal should be in writing now. Some of you have heard me talk about this over the last couple of weeks, but some are you're just rejoining show because you, On vacation make sure you have clearly written specific, measurable goals with a time limit, I want to get out when giving a time limit specific comic, daddy, you gonna pay off in this calendar year. When are you going please your debt snowball. When are you gonna, be a millionaire when it Beer, ten millionaire Deca millionaire Wendy a double your income? What have you got it, to do that

when are you gonna lose that way? When are you gonna increase the quality of that relationship when then increase your spiritual, walk sure connectivity to God when are you gonna get rid of that temper? What Do what They all this year. Seven areas that zigzag learn? Many others used to say the least, the wheel of life that you need to set goals in all these different areas. You mean goals in these seven areas, write them down unless you're driving, in which case In restoring the broadcast on later and listen back seven areas need gulls and you need financial bells, and course we're gonna talk about those on that I've rambling show. You need intellectual gulls, how I was had been since you read a book, the average millionaire region on fiction book a month. Tell you who got thrown off the island. Very few millionaires know anything about the carnations.

They didn't even know there were any. But I've read a book. Pick up a book and re, would you know you're intellectual balls, you taken a class officer you're, not getting smarter and culture in business. Were the speed of changes blinding, if getting smarter everyday by definition. You're getting dumber does you're getting left, be hind left b, And then you can blame it on the systemic problems caused by the Republicans if you want, but you got behind because you didn't read a book read a book now have agreed fiction, but come on. Tell me books. You can read this year, family gulls. What are your nurturing goals for your family? What are your times? Two goals: What are the letters you're gonna write to family members issue spiritual goals?

And read through the babbled assuring us not attending Churchill after walking a god. Maybe you need to reset some of that physical, else. Almost every one of us has from physical girls mountains. Many fewer chocolate chip cookies, many fewer. And boy do I need to get off the chocolate chip cookies job right. For me, I love truckloads of cohesion and my body shows its bad. You don't make sure look thinner than wearing black black being thinner. There. You go up your that career Gulf. I hate my job. How are you gonna stay there? What are you sure it was? Neither can comment to get learn I do a proper resume: how to do a proper interview. How to get in extremity with the proximity principle number one by showing book and get the that you love. What are you? Why would you work somewhere for thirty freaking years with the people you hate, I like what

sure, but the people are toxic then get out of there. What is this punishment doesn't have to be toil. You could do. I have to make less money? Why? Why do you always have to make less money live your dreams? What you started that Roma? usually living a dreams, involve making more money find a different way to do it. What are your career gulls, where you're social goals. Now I've used to tell my kids Ali's cliches growing up ovation cliches, you you wanna Have friends you need to be a friend. I mean longer have been since you invited someone over for dinner. So how long term, at dinner at your house there's an idea so a lot of money by the way version. Overnight, we have social goals you having friends, maybe anymore friends, I mean go deeper with some friends you ve got, you need to set goals in or seven areas and they need to be specific, measurable, have a time limit and riding and then to be your goals.

I get your ear started, baby game all game. All this is that ever Amnesia

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he's a Dennis and they won't hurt a partner sure on how we should approach it. So we have about three hundred thousand hours level has been enlarged and we pay. About three hundred thousand, which is the bit part once we gotta player their offer her to buy an four hundred thousand that will increase our income about seventy thousand dollars per year, we don't know, we should wait to pay off the law or go ahead and by ass it actually income. Do you have a hundred thousand dollars to buy it we're gonna do. Is we can save about eight for my money to buy you? That's how I take to get two hundred thousand and there we were basically go right back to pay out rusty at all. I would do that you gonna, take eight to nine months off

an increase, your income, seventy thousand bucks right, yeah, yeah? How I would never have another closer, do if she never by others They were long tire pair five year, leaping up a good idea, depends on what the exit strategy is in there in the partnership agreement. What happens when she lived with her partnership shares, so she has, Day, a minimum of three years I think she can fail bag for their part. We will have to work out through the contrary, but you have to stay a minimum of three years machine organizer years he s death. We prefer to stay there. You say she was there. Look at me. I've you're, not even longer stay three years starts to be concerned. Stay three years and they're gonna buy you back out. You can negotiate reasonable terms on that and she stays fibre sectors Evan in the meantime, you make seven thousand dollars a year times. Five is an extra three. Seventy thousand isn't it

Three hundred fifty thousand dollars income right right, If the incumbent even go up and probably will go up per year doing this deal as long as the contract terms are reasonable and properly negotiated? Similarly, the exit parts of it contract by our danish deal for sure, I thanks for the car, oh practices, medical practices and lawyers are the three types of partnerships that are structured unusually matter Practices, lawyers then Imbracus type, a medical practice. Their struck unusually whether they regularly come and go or bought in an out and these types of partnerships generally do survive. The practice survives and it hasn't addition, subtraction partners, as it goes along its a normal part of that business rhythm, it's the only partnership, that I dont tell people to avoid other

while business partnerships. I find almost none of them last Ten years. And when they end they generally and poorly, because something negative happens. That brings an end to it and it's Julius like a divorce than is generally not pretty sure we are say the ownership ship sales of partnership when it comes to business. In so To avoid shouldn't around overbear decide open up a heating in our business because I like each other's a bad idea, in other words, regain, even if they do think it through and most people, don't think it through and have full on partnership, documentation and agreements in which you definitely need thanks for the call open phones, interpolate, eight to five five, two to five, Philip, is in D c. I felt welcome to the diver amnesia. Thanks so much for taking a culturally and honour sure. How can I help so basic

Two years ago my mom convinced me to loan her half of all my saving, so seven thousand dollars and spend it on Bitcoin now two years later, we haven't made any money on that investment. Now did you give it to her to invest in Bitcoin or we decided we were going to invested in Bitcoin Well, she I learned it to her. Ok and so she took the risk and she borrowed money from her time to take the risk. Ok, yeah, now, I'm in college and need the money for tuition, and so I want her to the money back to me and she's now refusing and she sang big He's gonna make us into millionaires in the long term and it would be a totally foolish thing and you basically just standing down and thanks you're, not gonna, get me back the money because bitcoins gonna turn

millionaires, and I pretty much less money is pretty important for me dislike and get through college. That free- and I mean do you- think that these rights. And how are you going to think I'm twenty? I myself no she's wrong and she's wrong and she's wrong inches wrong number one. Borrowed money from here what at the time, seventeen or eighteen year old Son, if you're, that a loser. You don't need to be investing number when you do borrow money from your own child and they to pay it back because her in college you for them the money back. You don't be a loser. Number three. You pick the war possible thing to invest and you're gonna lose your but you're, not gonna be a millionaire and bitcoin you're gonna be seven thousand dollars poorer so mom's wrong. Like three times three structure out. Tell her! You want your money back and you wanted back now.

This is wrong we're copper borrowed money from their kid too. It became a shady investment. Mean the international arms. I know I'm sorry you're calling your mother name, I'm sorry, but it's ok, but I mean I'm I'm just mad for you, Twenty years old, you should be live in your life. You should be worrying about these kinds of things you should be. Talking about your studies and finishing your degree, you shouldn't we but your own mother having taken money to go off on some lark because now, I mean Bitcoin. Day may turn into something. Today you would, better chance of becoming a millionaire at the roulette table in Vegas suggestions for other things to understand or do they know? I didn't you know what I would invest in. I wouldn't and Philip vanishing degree

think, you're, a better investment than anything else. I know about their. I invest in rose by mutual funds, but I think A better investment, because I think you're degree will either studying something reasonable in its marketable what're. You study Some doing I'm economics and I'm a minor in computer science Tata, deserve marketable usable skills in the marketplace. Similarly in Washington, D C, so yeah you're gonna do fine. With that deal now where's the amount of money you're going to make as result of finishing their degree is a lot more than you would make on an investment. Be sure what I'm saying: you're a good investment This is the best way to spend money on you when you're twenty and your studying something like this, it's good in school and you pay cash forward and you stay out of bed and you do all those wonderful thing: I dont know how to be had just censure mothers being belligerent that you just mom, you know I'll talk to a financial coaching completely disagree, and I know you

I don't agree with about this, but it is my money and I'm trying to finish school, and I really need you to cash that out in giving my money back Teddy Well I think you're right. I don't care if you think I'm right, but I mean that she her belligerence on this and her down. Operation to become a million over the seven thousand dollar investment make em. I really. This is a good thing about unrealistically ideas and a bit on. Rather that's a good budget nice way of saying as you still as complete your field of studying economic, you will see the flaws in the Bitcoin thing, but is it has a lot of wonderful attributes to it and some day it may become a stabilized currency, but today she is based. One hundred percent on one thing: trust a bunch of military coins. The gas and served in the military gals ensure the military when they shake your hand, they give you a coin sign of honour, and I love those I've gotta. Hundreds them in my office and rapidly

Damn I have a dollar were eighteen dollar bill or whatever it is with a picture of Saddam Hussein on it. You know what that. Or bill, is worth zero Saddam Hussein is dead and he's not a dead president. It's a dead country that went away and had to be completely reformed, there's no trust in that currency. So I can't trade that for anything, but you take a green piece of paper with a dead president on it from the United States. I can trade that first off. Why? Because of trust? Bitcoin doesn't have that trust jet, because all it's got right now you get rich quick smell all over it and people are avoiding it. That are smart. This is that every time she shut.

Don't let your high student loan interest rates carry into the new year: gotta splash financial, dotcom slice, Ramsay Splash financial issue. I trust to help you lower your student loan interest rates and help you slash the amount of time it will take you to get out of student loans at their helping. My listeners pull money out of interest and put it back into their principal for your new year. Reset go online today at splash financial dot, com, slice, Ramsay check your rate in minutes and see if you qualify, splash financial dot com, Slash Ramsay, thank everyone in this room. She can open phones AAA eight to five five, three to five. That's AAA eight to five. Five two to five Jessica is in oh hi. Oh, I Jessica welcomed that I've remsen show who

thank you I would call it because I am in the middle of a divorce I have on taboos, and six month old errand, light before this happened there just got out of babies, have to go It is in the middle of babies that three, but also I've, been Trying to cash flow you're better off, and I know that their court costs fees eventually really know where I am I'm sorry What little babies along over almost ten years? What happen I'm or what is it? unexpected. What a measure of autonomous ochre shall we

you working outside the home, already yeah yeah. I declare myself great book- I you make about fifty five thousand so you're not on a baby step here in the middle of a hurricane and what you do. Push paws on all the stuff and you pal caches eyes. You can possibly pilot to come All of these expenses and problems with the storm is bringing when the storm passes. Then we will rebuild and start fresh push play on your baby steps again, but for today, food shelter, lights and water. Clothing for you and your baby and keep keep the lawyer bells moving and the court costs moving and be done with it. So Are there assets as their home? It's gonna be sold, or does she have a big for a one k or anything like that I for one case fairly:

because of that that'll be negligible. If there is any decision on, I I am to take the house and I am unable to Cuba on my own, but I to buy him out of his portion as well that another twelve thousand dollars that are becoming once this much is figured out and there's only just a little bit of equity in the house here, about twenty two thousand. I think they determined. So why are you carrying it because it's our home, in order to size. For me in my girls, manageable for much as your housing moment. I'm in insurance, seven fifty a month what you're take on. Ah.

I just started this division side this now my my growth. Ok, what you're gross fifty five fifty five thousand a year should take homepage only about four thousand little last month. Yes, fifty manageable, that's good, as earlier than you said, you finish by receptor, there's no other debts now now my student loans are gone. I on my car and you'll get support from him, yeah, I'm leaving about half of what it supposed to be right now. So right now I get about five hundred, but they haven't. I haven't received any for the second child, yet. Sounds like your lawyer needs to step on this and even in the interim

you're paying a lawyer who should be getting child support bills. I mean that it is pretty basic. The like tomorrow. Ok, yeah, you know what you're describing is this just gonna be tight for a little while You ve gotta, give yourself a little bit of financial margins to grieve the whole process and go through. Deny all anger, all the different stages of grief and the thing you have already been experiencing. Of course, I turn your marriage coming to an abrupt end and we know it fairly abruptly. Drivel oh baby show Me I'm so that is there are those that go with those that are very, very real human being staff, and so just want to give you room to do all that, and the big thing is don't

use. All of this, the baby's or your pain as an excuse to go into that again, so don't make a mass but you don't make any progress. I would call that a successful transition for you, ok, no progress and a little girl Lena get all the lawyer bills, peg core culture whenever clean break We're done all checks written then we can push play again, build up emergency fund and move on with it. Chapter in your life right, ok said, you ve already discovered, and you discovered it because you, the way you explain things to me is what a divorce recovers. Fundamentally says that at all worse, turns a marriage and or business transactions, and so- you ve discovered that because you that you have already looked through the equity, you ve already look differences in the fora, one gazer negligible, you already done the math on the balance sheet of the household breakin up in other parts, Bending it's a transaction at this point, which is a very sad but it is, is reduced to that

in the legal system show. Yeah private, where you're gonna get to twelve thousand bucks How long are you gonna get that together, this has been going on now for body here on a kind of the towns There's a lot of leave regarding the children had been prolonging the entire process. Now, though, this is become one Are drawn out and expenses giving negotiating possibility and the fact that he is paid child support in full for a year during the separation is abominable, I think it strange that for his equity, I was not there yeah, I think your attorney age to have the appropriate backbone, because that to happen.

She understood all guy when you get nor have. I ran away on right now: you're makin, a lawyer, my daughter and on Burundi, kill him right now we still holding you didn't care, so that's I'm drunk. But I may he can do that. I can give up the house in June. But he's not paid out a good child support for twelve months that's a very reasonable negotiating point. Otherwise, I'm goin back after that money, because each The lower he dragged US apple. Hungary does not have to pay proper child support. Could you take in a weak position on that? So that's again or does business transactions, the math thing now and I'll wait. Let them get away with spirit to baby involved. There were fighting for its. Not a man of retribution or hitting by or something like that. It's it's a matter of taking care of children, a thanks for the call

phones, a triple eight, eight to five five, two to five: that's AAA eight to five, five, two to five! Thank you. Joining us Blanche, dot com gives us our question of the day. There were one hundred percent satisfaction guarantee uniform measure you pick the wrong color. They will remain your window blind for free. You get free samples, free shipping and with a promo code Ramsay get the best. She deal Maria's Indiana, my husband iron baby step. Three b were silent for a house where, have an emergency fund. We have twenty, your level term insurance through Zander. Recently received a promotion, but an approximate rays of ten thousand dollars should update policy to reflect my new income how often over the twenty year should this be evacuated, an updated, please. Let me know: you're probably ok, the data for three or four years and to say the question Ask yourself is, as you get out of that further and as you build more wealth and has the kids get older, much less life insurance, the unique azure

and was gone up is not necessarily always gonna, be ten or twelve times your income. That's where we're starting with, but I think you're. Probably ok, right now ask yourself what your husband be. Ok live with the kids placed on your current life insurance. If that's the processor good. This is that I branches Kelly is whether South Carolina welcome that arouses circulate I'll pay day. Things were taken my job,

recently, my grandmother has left me you, cds of an inheritance, the total as five hundred thousand yes, the cds are currently upper, withdraw I have never had a poor one k, a for three be any type of wrath IRA I already or anything with seedy rates as low as they are like a hovering around one percent. One point: five It would be the next best step forward. Money: would it be to go ahead and start investing since I don't many financial debt, or would it be starting I for one pay, you can only For a one day, on payroll, withholding shall only your job offers it. You could do

I I arranged, but you are limited to six thousand dollars a year if you're married twelve thousand dollars a year and that's not gonna get us five hundred thousand okay. So what I want, What do you don't even have a home mortgage necessary labour market, you all my home Was she beat me her house awhile and you're going to live in it, keep it she's still alive. She felt she currently live. Let me oh, my goodness. Ok, so you live in her house for a while in others here's the thing rule number one about it. Testing is do not invest money in things you do not understand. Ok, rule number, two is start understanding, more start growing knowledge and I'm gonna help you with that. Ok,

remember three as win your investing with someone or taking someone's advice, since you after understand it before you can do it. That means you can Do what they say. Unless you understand it which mean they have to have the heart of a teacher. At the heart of a salesman, sat down with somebody was its financial or otherwise could be an armored car lot and you They were really trying to help you or you set out some one else. Any felt like he'd take a shower afterwards. Did. I live actually met with a couple financial advisers. If you were wanting to sell me, you know anew at ease product. You know, and I have read a little bit once I get started you notice, I think promoting the ease and back in fees is, but he with the annuities D. You know they lock you and for ten years, the dream rate to get out the Irish milder you're doing quite,

do great you're learning she had some stuff. You don't even know about six months ago the only way this is totally a life changer, a game and those that exist about the law that I've been able to get just from reading I left the money in the bank. Can I shall shortly why short term? It's ok to leave it there back if you can make on a good mutual fun. Ten percent that be Fifty thousand dollars a year. Otherwise you make me laugh thousand dollars a year. One percent right: we don't want to miss out on fifty thousand dollars a year if that a good investment? The true understanding can get comfortable with you wouldn't want to miss out on fifty thousand dollars a year for the next ten years, because that's another half million dollars that's the power of knowledge on their. So what potatoes, leave it on the bank for now Give already smelled out. One rat would by the way. The

Nobody sales are again the person four times the commission than if they had just soldier mutual fun. So there's your motivation, learn something about those particular folks. I'm gonna send you to the people? We recommend I'm not in the business. The way we vat, who we command is one of the things that they have to have the heart of. And so, if you don't have that experience could walk out. I'm fine, but you should We have that variants and you'll know they. Ve got the heart of a teacher. If you don't feel slammed and you don't, like you're, someone this being poked and prodded at and pushed and read it like you, don't know what you're doing and all our countries just trust me, you know you don't have that kind of attitude. The teacher says here: this works in whenever you're ready to do it I'll be here to help you that's what a teacher said. Okay, and in what can I? How can I help you grow more and learn more because you do

the ground, this is a responsibility and you ve taken that responsibility seriously. I commend you for that. You ve done really really good job coming out a gate here you really have. I you know I have it was. It was very overwhelming at first the arm again It is a is alive, change your arm, financially, Asia, the tube every day and not have the financial loss? Possibilities are worried. It takes a hundred percent off my plate, but I didn't want to match up be reckless awake backup, with our care. Little look. Grandma later I lost my money. You know you don't have to worry about that. That's right arm again, so I felt like you know it's such a blessing. And so I tried every day to at least learn a little bit about it and sit down and eat with oak than we aids to educate myself as well, just to em

to make the best feature for my family will. When you can explain what a mutual fund is, the someone, No, the new ready to invest in mutual funds, and that's what I would do with it. If I woke up in your shoes but on- about a number comfortable with that. Ok, Possibility, if you haven't hankering, offer owning real estate but actually by road. Operating and pay cash for it, that's a possible investment, but you'd have to be willing to put up with a hassle that associated with that want to think through Latin learn low, but about real estate as well same kind of a thing. Shout click smart, faster at Dave, Ramsay dot com. Down a list of these smart vesture prose in your area, twelve of them nationally. And you can pick from the ones in your area which ones you'd like to meet waiting maid with all our men them? If you want

our interview, at least more than one, at least by phone, get a sense which who you're gonna be most comfortable with and the way out budget like this, the smart, Mr Prodi. My area is of personal. And of mine and I am just really ok with I die assurance. Gonna pick up the phone call, Jeff and Jeff is gonna, walk her through it and take care of her. And when we meet with Jeff. He goes over everything where Sharon understands it, not just Mr Radio Guy right and saw he's got he raised that guy and he's got that spirit and that's what you want not words, sky or gaol should not only be able meet with you, but when you get kind of up to speed mighty Adele Grandma of Grammar wants to talk about it and talked to her talk it through with her and show her how it all work. That's, ok, there's nothing can you not nothing on fire here? There's no rush. Why are on what you wake up five years from now, having done nothing but you're, not on that trajectory.

When you're gonna do something that you get multiple with, I would not do it is. I think you made the right decision and too many fees involved too many more especially, your young age. I simply will pick a good mutual funds away. I do my investing Shelly. I pick forward. Shove mutual funds, growth, growth in income aggressive- growth and international and spread evenly across those four. And that's how my personal for a one came, a personal mutual fun portfolio looks got millions of dollars and mutual funds that have done over the years. I'm an old guys. I bid on this long time, but that sound, but that What I do, but that doesn't mean you need doing because they ran. She said you follow me, do it because you understand it, you get comfortable with it. You learn. Shut down, much more reciprocity. If you can find a teacher in your area that you like what their teaching, then you will choose to buy as opposed to having been sold.

But eighty five percent of the folks people vote each other about a fabric of the people in the financial world are salespeople only about fifteen percent or say our teachers, and that's true. If you're dealing with mortgage people as trivial real estate agents insurance paper, Investing people you're, always especially investing pig you're, always looking for someone who has the harbor teacher, and that is not just shopping at the bit of dying, yet you're freaking money, because that page there like they'll, take your time learn. From them and if you don't know that the room get out of that room,

this is that I Ramsay shall pay its Kelly says you pretty certain first rate of today we have to share this episode is over, but if you heard about a product or service, it didn't have a chance to write it down. Don't worry. We list everything that is mentioned during this episode in the protests showed that section thanks closely

make more money doing what you love check out: Christie, rights, business, boutique, podcast, crises inspiring and equipping women to become successful, running their own business hand, Christie right and I have 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 love to hear more from the remedy network, including Christie Right Boutros, Boutros Podcast. Wherever you listened upon, gush, hey, it's The producer of the Dave Ramsay show this but so does over, but check the episode notes for links to products and services you ve heard about during this episode