United States, Nashville, Jeff Foxworthy discussed on Dave Ramsey

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Us world class friends of ours like Jeff Foxworthy Steven Curtis Chapman Monate show Han world class shelf you've seen her on the food channel for sure she got a bunch of incredible restaurants here in Nashville and for seven incredible days at sea we're gonna teach entertain and have some amazing experiences together so here's what happens on occurs these guys put up a deposit and they get a hundred percent their deposit back if they cancel the reservation by October well things have come up in people's lives they got deployed different things have happened does a somebody in the family was ill whatever and we've had people drop out so there are a few cabins away we are two months away from departure it is March twentieth and I'm excited to tell you that a few cabins of opened up and you can go if you join us in March our maybe you were working on your last few dats maybe you're finishing up your margins you fun last year we launch this near like well I'll have to catch the next one the only the money right now I'm not really baby step four but now your baby step for well if your form beyond of course you can pay cash for it meaning we don't want you to go into debt to do this we're not inconsistent and what we teach what we do shop today so lucky day you can actually get on this cruise with me Chris Hogan Rachel crews can calm Anthony o'neill everyone of the ramp Christy right everyone around you personalities are gonna be on there and so are pretty cool stuff including well not including because our arms personality but we're also going to have Jeff Foxworthy with us my friend Steven Curtis Chapman and as I said many Chong so you do not want to miss this there's a couple of cabins of opened up go to Ramsey cruise dot com right this second and you can claim one of these last remaining cabins it is sure to pay a debt free celebration the entire ship is us the entire ship and so it's gonna be George camel going with this looking out here see endorse it nature of course he's going to be there and also the whole gang will be there and you're gonna get we're gonna have all kinds of events and sessions in classes and you're gonna be able to go to Turks in Keiko's we're gonna be in San Juan we're gonna be in Saint Thomas we're gonna be on a private island in the Bahamas it's an incredible courage and were you looking nice brand new ship one year old just came out with this time last year so again go to Ramsey cruise dot com right now there's a handful of cabins we want this thing to be completely I mean I don't mean just sold out we took your money I mean we want to pull we want someone in every room we want to have you there all right let's go to Sarah in Texas high Serra welcome to the Dave Ramsey show hi Dave thank you and Larry Bird can't my husband and I are in baby steps seven have been good for you well done yeah way we are enjoying it here so I retired early from a long here to pursue my dream to open a retreat house for quilting and crafting group out in the country where we live cool on our family ranch and we're going to build a three bedroom house on the property for the retreat later this year and I'm estimating it'll take about four hundred thousand dollars to build it and I'd like to do this debt free and take it out of my retirement plans and I'm a I'm a glass half full gal but my husband is the glass half empty guy and he's concerned about taking that much out of our retirement funds and he he respects your opinion so here we are okay so how gosh they have more than enough money to go to college and my husband and I would like to know what she would for a fully funded by twenty nine account for both children well you would want to figure out what your target is as far as where they're going to go to school try to calculate what it's going to cost to go to school there for a five year old thirteen years from now and so you know they're going to go to you know the rest of Ohio Ohio State University what were they going to go and and and you know try to get some estimates on what that's going to cost at that time and then you take that figure and say I've got thirteen years for the money to grow for a five year old to that level right right and you're smart Mr Perot can put that into our calculator financial calculator you can jump online with the financial calculator and say all right how much would lump sum do I need today for thirteen years from now at my investment rate in my mutual funds are for it to grow to X. so I've got X. for tuition and and although the formula will spit out of a financial calculator about thirty seconds but you know you've got to determine what your target is we know you got thirteen years you're using good mutual funds we know you're gonna make ten to twelve percent if you watch what you're doing your part partition mutual funds from afar Mr Perot when you're learning how to do investing that buying mutual funds that exceed the S. and P. and there's plenty of them that do and if you do all of that then your target is there then you're gone you know you will love funded enough in the five twenty nine for them to pay for it and that tells you the ten thousand dollars is probably for the little one is probably almost that for the five year old maybe not may need a little bit more and it and but that depends on and are you going to pay for graduate school or you want to put willing to pay for private school not read verses in state tuition for Ohio state you know and how states not one of the cheaper in state tuitions either so they're you know they're not outrageous but they're they're not they're not like the cheapest state school in America or anything so check all that out and figure out where you are and that's what I would do that's how you do it sit down your smartest pro they can work you into that number pretty quick the lady Sam's whether some New York case Sam welcome to the Dave Ramsey show hi how are you thank you for taking my call sure what's up yeah my question like this I just started the total money makeover I never read about the whole life insurance now my grandfather is a financial adviser to configure being very successful and he sold me a whole life and two terms the cover everything he just he just told me lately that I made on my mutual fund but he also he's solid may not book from him and I made a ten percent this year so I asked them why do I have a whole life which is making nothing on the vestments after I read the book and the fun that many are making a good because I want to just get rid of that and put the money into the dust on like you're working on now so you like to me that the investment the mutual funds that protects you may want to market to build high so I did make that money but when the market goes well one that time that it does I needed protection and I'm not the whole life insurance but they promise every year certain amount and I never going to go below that and they're going to give that to me every year still on the market goes down I have that protection so yeah I got stock like what do I tell him now well I mean you're gonna serving argue with grandpa or not that's part of that is you know I don't know if you're gonna do that or not I'm not gonna argue yeah I know I need my best did not sign on there's a lot of people that means best in a wrong okay and that's that's the case with them no you don't use whole life life insurance as a hedge as a back up for a market downturn if you want to keep some liquidity you'd put it in cash in a money market account and that way when you die you don't lose the money the money that's tied up in the whole life cash value when you die you lose it you've paid extra to have that in there and you don't get it you only get the face value when you die shall now it is not a good back strop backstop he he is very old school he comes out of the insurance business is the background it comes out of and that's the only people that believe that stuff anymore found dude you gotta do what you want to do I'm not gonna say argue the ramp all but he's wrong that's something that puts a sour the Dave Ramsey show in the books our thanks to James child or British or killed and our social producer involves runner I am Dave Ramsey your host we'll be back with you before you know it in.

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