17 Burst results for "Baloney Ramsey"
"baloney ramsey" Discussed on The Dave Ramsey Show
"I'm so proud of y'all got a copy of legacy journey in total money makeover for you one hundred and one thousand dollars paid off daniel and sarah bowling green kentucky. That didn't twelve months making one forty four to one eighty what a great story countdown. Let's hear a debt. Free scream three two one. This is how you doing baby touchdown. I'll find alpine for a great love story. This is the ramsey show iran Dr john baloney ramsey personality is my co host. Today jacob is in knoxville. hi jacob. how're you doing well. How are you dave better than i deserve. What's up so i am on baby step for and as twenty five.
"baloney ramsey" Discussed on The Dave Ramsey Show
"Well done young couple had been married five years in for those of you. Who are listening to can't feel inspiring too old married men in his room. Yeah just looking at saying. Wow yeah that's what it looks like man. Yeah well done. Gosh that's very well done. And that guy's got away cooler bigger than my little brother does headed not think little brothers that profound grief. I'm gonna call him and ask her do over too late. Great brothers this is the ramsey. Show dr john. Baloney ramsey personality is my co host. Today you can also join him on the doctor. John looney show email ask john at ramsey solutions dot com with your question and kelly in the team that produces that podcast. We'll get back to you. It's monday wednesday. And friday writing it all releasing those three days a week and it's all about you calling in asking questions about your life..
"baloney ramsey" Discussed on The Dave Ramsey Show
"Retire. And i've got two parents that found new careers in the early making more money than they did before doing something similar or totally different depending on which one of my parents is possible. But you're gonna have to suck going your pride and you're going to go there you go. This is the ramsey show. Welcome to the ramsey show dr john baloney ramsey personality number one bestselling author is my co host today. Glad you're here. Phone number is triple eight. Eight to five five two two five. Joshua is joshua is in fredericksburg. Virginia how are you judge will dave. I'm doing great how you doing better than i deserve. How can i help. So i have a quick question I'm relatively new to your show. But i've been watching a lot of. I'm on my way on baby stuff number one getting my money. Put away in savings I want to ask a question about one. A moving full force on just to i wanna ask you based on. I have the opportunity to access private option. So i can with a few cars a year And i wanted to know If you agree with stuff like you know spend money to make money type side gigs. Where i can buy cards and put them in the process of paying off debt to you know help you get more property overall and pay off. Are you doing that with cash. Yeah well so instead of just putting it full force on the debt. I would put cash start to buy cars on the cheap and then flip them when you buy the car. You're paying cash for the car. Yeah that's what i mean. Okay so we'll give me an example. You buy your car. You buy a car. For how much in. Flip it for how much so. I could probably get a car for two grand easily. Flip it for four to five Because like i said. I have private. I had access to a private auction so the cars are a lot cheaper than anyone. You know public austin or anywhere else. Okay and And what do you make a year at your day. Job thirty three grand. I just started a new job. Okay and how much debt do you have. So i have on fourteen games. Okay cool yes. I would do that now. Here's let's let's think through some guidelines because as you know you can get sucked into this and you know you start. You can put all the money back in and all this kind of stuff and then you then you ended up benefiting your debt payoff not at all but you get into a bunch of cars okay. So we don't want to do that so it's one at a time and you take you say okay. I'm gonna put some seed money in our prime the pump if you will and so we're going to set two thousand bucks and then you buy that car and you flip it for thirty five hundred and you pull the two thousand out to do the next deal keeping it there but anything above the two thousand goes on the debt. Every single time. Everything above the two thousand goes on to the debt. Don't buy twenty two hundred dollar car or a three thousand dollar car the next time you're buying a two thousand dollar car every time or whatever your your baseline is but you what can happen is emotionally get more caught up in doing the deals than you do. Actually causing the deals to benefit you and you go. Well i you know gosh if i turned to two thousand and two three i can turn three into six and then turn into eight and then you get sucked into this vortex and all the money's pouring back into the system you're building rather than getting out of debt that makes sense. Yeah yeah absolutely i get. I didn't even think about that. Knowing me i would fall into that for sure. Well you're a player. That's how i noted get warning against that. Because i'm a player. It's the kind of thing i do. So i have to watch against it and car. Auction directors love players. Because i say man fetus. Go to five on this you can. You can flip this for fourteen three easy and it's just hard or yet to be disciplined right. Yeah you really have to be disciplined. That's the purpose of an auction is to take advantage of undisciplined disciplined. People undecided people against each other. Yeah exactly and then you get the then all of a sudden. There's no room in the deal because you've overpaid that's what you get into. Give yourself some real strict business operational guidelines if you will like i just laid out something like laid out and then every time stick to them. Don't let your don't let the The greed on one shoulder. Talk you into losing your commonsense on the other shoulder and if there's no two thousand other deals to be had this particular saturday go home walkaway. Go home you'll walk away. that's exactly right. That is a good plan. Rob is with us in tampa florida. Hey rob welcome to the ramsey show. Hey dave how are you doing. Thanks for taking my call my pleasure. How can we help So i have this out of state property that i want to get rid of. It's a rental property And i don't know whether that i would like your is owned either paying the capital gains or taking the ten thirty one. I had my tasks guy. Kinda look at it and he has to it. Something about Seventy five thousand catholic. So so you got a half million dollar game i yeah i think where. I'm trying to south out of state property. So you've got you've had it a while and the What's the cell for. I asking for over eight hundred. Yeah okay and you've adjusted the basis down by depreciating it over the years driven lower adjusted basis. All right but Yeah i i thought ten years ago. Yeah and appreciate your time sir. Yeah and every time you do that that amount of depreciation off your basis increases your game. You understand that. Right i do. Yeah yeah okay all right. That's what i'm talking about adjusted basis so a ten thirty one tax deferred will probably cost you fifteen hundred to two thousand dollars in legal fees to you have to have an..
"baloney ramsey" Discussed on The Dave Ramsey Show
"Be big deal. That's a big deal kid right. There should be working here someday. I love it running a whole area. This is the ramsey show doc john baloney ramsey personality is my co host today. Open phones at triple eight eight to five five two two five. A net is with us in sacramento. I annette how are you. I'm great thank you so my question today is I'm a teacher. And i'm due to retire in former school years. My husband is already retired. But we've not had to touch history savings plan or his social security at all I have required retirement. That i put into through my school district but about seven years ago After reading starting to realize that you know we want to have more money when we retire. Well i didn't realize about annuity. So i invested into teacher. Annuity and then after your book A few years ago realized that was a mistake. And so I've stopped putting into the teacher nudie. But there's about one hundred and twenty five thousand dollars into that and we fully funded a roth. Ira for last year and for this year are ready. We're completely debt free including our rental property And our house should be paid off. The goal is that it'll be paid off before i retire or i'm not retiring. I don't wanna have a house payment afterwards so I don't know what to do with that. teacher nudie. I asked a financial advisor. If i should try to. Roll that into A roth ira. But he said that. I would be taxed on that full amount and with what i make. The my husband's retirement were were like at one hundred thirty one hundred forty thousand here and he goes. You would be paying a lot in taxes and didn't offer. he's right. I agree with him but he didn't offer for you to roll it to a variable annuity with him taking care of it No he didn't. And i'm not because this was something that was optional Through my school district. I had gotten a settlement and i didn't wanna get talked on it so i was trying to figure out where to put it in seven years ago but you could roll it traditional. Ira not a roth. Ira and not have any taxes. And then i would be able to control the amount of interest in and the invested in. Yeah okay and do you know if you're able if you put into a teacher Annuity are do. You know if you're able to roll the low that over Well if it was a pre-tax annuity if they it's up to the school board it's up to your particular employer. I don't know what teacher annuity can mean a whole myriad of different things so you'll have to find out but it sounds like your investment advisor didn't fool with it so get in touch with one of our smartvestor pros and ask them to tell you in your area in the city of Sacramento what can you do And if you are able to roll this just because it's in an annuity if you roll it to a roth. It does become taxable. That piece of information was correct. But if you roll it to a if you can roll it to a roth and it becomes taxable than i know you can roll it to a traditional and there's no taxes and that's what i would do i'd move it to a traditional and put it in good mutual funds and get away from there. If you're able to but i don't i do not know what the guidelines and regulations are with each individual county across the nation. And what their deal with their teacher. Annuity is and tells me something that the the the financial advisor didn't immediately try to grab that into another product may be okay Should have if they're able to but he told her not to do it because taxes until her do not because she couldn't do it. That's fair that's what is bothering me show I'm thinking that Yeah get jin. Click smartvestor pro at at Ramsey solutions dot com and get one of our smartvestor and ask them and they may be can do it for you. That's a possibility so something to something to check on for sure. Thank you for calling. A kareem is with us in toronto. Al-kareem how are you. I'm good how are you better than i deserve. Sir how can we help Sorry one you've seen on something. So i'm from toronto. I just i'm graduating university. right now. Actually just broke my last exam a few hours ago. Congratulations what's your degree in business. Good for you. Did you pass this less exam. I hope so. I just got one exam back. They didn't do hot on. But yeah so i'm yeah i'm doing. I'm moving to new york in a few months For job and i wonder if i should potentially by apartment instead of renting in new york It'd be somewhere midtown around three or four hundred thousand And i have a fair amount. Saved already And my job specifically doesn't allow me to invest in a lot of stuff that i normally invested in so i was thinking of that as alternatives that i also live in so i was hoping tear. You're paying on that. So ooh you said a fair amount. What is a fair amount. I like fifty sixty thousand. Okay what will you be making it your new financial job Base would be around one hundred and then bonuses very looking looking be between twenty and fifty first year. So i'm guessing you're moving into an analyst role which is why they're not allowing you to invest in things that you might be actually analyzing okay. I i like dave. You can of course counter in i. I like folks to work at their first job out of college for year to before they just plant their route so deep or get real close to their financial ceiling there the four hundred thousand dollar apartment. Yeah i'm really good with you getting shuttled in and all the other changes in your life without also becoming a real estate owner for year one particularly after year one. Yeah you know you start to talk about it and use that year to pile up even more cash by the way and there's disability by the way that manhattan midtown real estate is going to be cheaper in a year. Yeah there's the possibility because the freaking places like ghost town yeah for now. I don't know moved more bullish on it than the most i know but i mean people are leaving their by droves and supply demand curve is going to affect real estate prices. I don't know what they're gonna do. But i don't think they're gonna shoot straight up I'm pretty sure of that. I don't know whether they're gonna stay flat or turn down but You know you've just got the you know. The the midtown economy just been damaged by the continued shutdown. The prolonged shutdown. So anyway no. I would not buy the first year. I agree with john and all of those other reasons. I think you move down there and get you an apartment pile up cash You've obviously got a wonderful job. Congratulations making serious bucks straight out of school. Pretty freaking amazing and And you've done a great job saving money so far. Bb debt free. Have your emergency fund in place and save is big down..
"baloney ramsey" Discussed on The Dave Ramsey Show
"Dr john. Baloney ramsey personality is my co host. Today austin is with us in fort myers florida. Hey austin how about you know. Better than i deserve sir. How can we help. So i been. I recently just got married about a year ago. Me and my wife are trying to purchase a house So i'm just trying to get some good advice As well okay. What's your question. She also has shelter. Has some student loan debt. And we're trying to. This is a good time to buy a home office and pay off the student loan. Okay so you have the money to student. Loan i have. I have money saved before. I got married to her. And she and it's. I mean i know when we got married. It's all it's all equally. Has one correct that i had stayed before. We got married correct but now church okay. It's not a it's not a. I have money have money now. You're now we when you get married your french we. We sounds good okay. So here's the thing unto the the old the old fashioned marriage vows in the book of common prayer say in sickness and health for richer for poorer unto the all my worldly goods. I pledge you don't hear that in wedding vows much anymore It's kind of anti prenuptial It's quite the opposite. It's If we're gonna share life we are going to share the money and the problems and the good thing just because you're gonna sharing them all anyway you might as well just admit it show This is a good time to admit it. And it's a good exercise for her to accept that her student loans are paid off that she got before marriage with money that you got before. And that's a very real sign in your relationship spiritually financially that you have combined your households and then you start then you build your emergency fund and then you save up for good down payment. Don't go into a house without an emergency fund man because one hundred percent chance. Something's gonna break when you buy it and you don't wanna walk into. That house was to loan debt. And suddenly you're swimming upstream trying to fix stuff and make that mortgage payment. Let that house be a blessing them. And there's something that snaps in the psyche. Dr john that you know when you force yourself to do an action that reveals that there's a new reality yes i it's it's this it's a winnowing right. It's this. it's it's a test moment to tour. You can talk about long. This is going to be as you could hear that here a noses ours but but i saved it. Okay well cool. Pay it off right. Yeah it's like this shaky hands. When i really do it now is when it's a real thing and i don't wanna hate anybody. I know he's hard he wasn't anything wrong. That's a normal process whether you married a year whether you've been married ten years there's people are still talking like that. Oh most thirty years forty years with separate checking accounts you take care of these bills. I'll take care of these bills like roommates. Even that's exactly where they are the roommates. They've never fully come together on this deal. But when you anything where you're changing your life changing a behavior pattern and you have to actually do the action. Yes not just discussed the theory of the action. There's something to snaps in the psyche. You have to step into it. A calls your bluff and it begins to change you physically neurologically changes from the inside out and all of that austin in your situation is means that your marriage is already awesome. It's about to get a little better. Yes that's what we're saying it's gonna be real comfortable for right before it gets better right there. You write that check. You make sure that your hand may shake a little bit and then six months later you won't be going. Yeah but this woman free this woman. I love the beautiful daniels in new york city. I daniel how are ya daniel. Hello hi daniel. Dave john on. How are you better than we deserve. Sir how can we help in god So i've been a listener for a couple of years already. You know i listened. Daily really keeps you motivated and moving in right direction. Thank you Yeah of course. So i set myself. I think i'm in a good spot. Have some money saved up in the past couple years of working and i wanted to know how what i can do to really be setting myself up for success okay. Are you working. You're in college. How old are you. What's your story. i'm in college. I have about a year left. What are you studying mismanagement. Good for you. what's it gonna cost to finish I have a college on that taking care of that. And i have some scholarships as well so great. What's it gonna cost to finish. Not sure exactly probably another choosing masters so you don't know what semester costs it'd be like another twenty five to fifty thousand twenty five each semester crapper. You're going to school on mars. Well you say again. It's a private university. I guess that. Where are you going to school in the city. Is it a secret. it's a secret set of secret school. What's the name of your school. What say it again large schools. I'd rather not say okay. all right. it's a very small very expensive school in new york city. A spy school davis okay. Well it's a secret school all right so the All right so you think you have enough money in. The college fund scholarships to finish. How much money do you have saved that you're worried about investing.
"baloney ramsey" Discussed on The Patriot AM 1150
"John Baloney. Ramsey. Personality is my co host. Today. This is the Dave Ramsey show. Thank you for joining us. Opened phones. A triple 882552 to 5. Rob is with us. Rob's in Atlanta, Georgia. Hey, Rob, How are you? Dave. Dr. D. How you guys doing? Great man. How can we help? I am a baby step 73 God for that, Um, me and my wife. We've I've always been the nurse has always been a free spirit I've found Well, your own baby steps it and by the way, thank you, Jack. But I've always found that I'm Alie. We'd let Financial peace university probably close to a dozen times. But I just recently found some like credit card that she had that I didn't know about nothing on them necessarily. Um, I've always kind of had the JAG, hurted the meetings and stuff like that on no often times the answer for this to go to counseling. We've been two counts plane. We've been married 26 years been counseling many times and Our ultimate response to all of it is you are who you are. I am who I am, and I'll see the point of going into further much, so I'm kind of had a and I just It's well, maybe step seven that she has a a job as well, that she does that. We don't incorporate into the regular budget. She does kind of her own self care like here, Nelson stuff like that, Um Just never been completely on the staying page. But what have great success ultimately so distant from guidance looking person got it from you guys. Brother. This isn't a baby step question. This is a mule around to different pages, man. And This. I can't imagine this isn't showing up in other places in your relationship. Besides, just financially. Where else does this show up? Mm hmm. Yeah. Well, I mean, we're almost We are on the same page and in so many ways, spiritually parenting sex movie, Um Things like that. So so it's just money. She says. You be you and I'll be me. I'll keep my paycheck you pay for the rest of the house. I'll take care of me. I'm gonna hide stuff and be deceptive. Even though I know you're out. Like leading classes on how people can live, whole connected lives. Everything else is just above board in all good. Have. I mean, we have a very healthy marriage. So here's what I'm telling you that you don't have to do this. You don't. It's not as healthy as you think it is. Mm hmm. And I may have found the first guy to tell you that I'm I'm ashamed of the counselors you'll have worked with, um, ashamed of your connect your community that surrounds you guys. But there's some deeper rooted issues here because this is something that means a lot to you that you've put on the block that you've gone up and presented yourself in a certain way to your community Members to your church to your friends to your family. And she's gone behind your back and been deceptive. That tells me there's dig deeper cracks in this thing or just straight up boat, upper back and said Screw you. I'm gonna do whatever I want it. That's the message you got. Message I heard right. Yeah, I'm a grown up. I have the right to do whatever I want to do and are you know the fact that that is contrary to everything you believe? Doesn't matter. I'm gonna do whatever I want. And it's not about what you have a credit card or not. It's about the disconnection. Yeah, this is not about the marriage. I mean, if you're not on the same page, and there's a level of Disrespect here that and, uh you know, if you were doing this to her would be the same thing. I mean, if S o. I You know, I don't know, John and he said, you know, more counseling, but I think more counselor's gonna doing good. So I don't know. What do you do? Uh, to me that you sit down and yet, Yeah. She's not being fully known, and he's not being fully known. They're not being fully honest with one another. And the temptation here is he's trying to measure the success of his marriage by the size of his bank account and That's not how that works, Man. You can have a remarkable marriage without seven figures in the bank, and you can have a train wreck of a marriage or marriage number six or seven or eight with seven figures in the bank. And at some point you have to sit down and say I'm going to put all the cards on the table. I'm heartbroken over this, and I need to know what else is there because I've never this way the first time I've ever heard. Of everything. Firing on all cylinders in a relationship and somebody saying, But I'm just I'm gonna lie to you and deceive you and not do this thing over here, but everywhere else, it's okay. Let's just know how that works, Man. So there's something there that people aren't Incan growing in one area and congruent and other areas. Not that not that sharply, right? Yeah. Um, And so there's something else here. You're right if she says I'm not going to counseling What you may want to do is go on your own and say I need to work on myself because that's all you can control. In this moment. You can't fix her. You can't solve her. You can't help her. She's gonna have to want to be plugged in well, and in here, too, and a good counselor can coach you on how to interact right differently than you ever have before, maybe creates a different result. And without talking to her. There may be things that you know that Rob, you're bringing to the table that make you not a safe place for her to come home to that make her have to hide stuff because you're somebody that flies off the handle. You are fill in the blank fill in the blank it so I don't want to dump all this on her. But I'm telling you is Man. It would be the first of my of my experience that you guys air just humming along. Except for this one place where she lies to you and is just completely dismisses you tonight. Yeah, yeah. No, That's just a strange. Yeah. Hey, thanks for the call. That's hard. Wish I could be more help, but so the recommendation you were right. Rob is more counseling that you get a different one and someone that's a little more bold. On that calls you out on your stuff and also trained you up on how to interact with her to draw her back into the conversation again. Because couples who look at each other and say Yeah, you do you I'll do me. This is not a couple. This is a roommate, right? Yeah, it's a business partner. And you have done well as a business community. Way to go, man. You made some money. Sage is where? The SAGES in Tallahassee, Florida. Hi, sage. How are you? Hi. How are you better than I deserve. What's up? Okay. My husband's job is bending. Um, probably about four months. And we have, um, about $58,000 in cash. And about 180,000 in our 41 case and about 20,000 and stop we are completely out of debt except for our home. We have paid $100,000 of it off this last year, so I'm down to the 167,000 question is he's 63. She's losing his job. We're wondering if it would be smart to take off for one K and pay our House off. Yeah. If you had more money, I would, but I'm it's gonna bring you down to almost nothing. Because by the time you buy that you're gonna have to come pay the taxes on that for a one km of the time you do that. I mean, he's over 59 a half, so he doesn't have a penalty, but you have taxes on it..
"baloney ramsey" Discussed on The Patriot AM 1150
"John Baloney. Ramsey personality is my co host today. Opened phones as we talk to you about your life and your money. The phone number is triple 882552 to 5 Triple 882552 to 5. Robert in Brooklyn, New York, starts us off this hour. Hey, Robert, how are you? Afternoon, Dave. Dr John How you guys Great man. How can we help? Great, great. Um, About a year ago, my father passed away. Hey, was my business partner? We have general contracting company and very you know, and obviously my best friend as well. And we had two properties that we invested in recently that now I am half partners with my mother by default. And I wanted to see what your guy's opinion on what I should do with them. I'm sorry for your loss. Um, is there? Um, Uh okay. You and your dad work together every day, and so you could fight things out. You could talk things out for the business or for the investments or anything else. If you had a renter problem, you just talk it through. How's it going with your mom? Essentially, I'm doing everything which is fine. She she had no involvement with the business. So I just since he passed away, I've been doing everything Do you want to still be in business? Dr John at the conversation for a different time, But that's that's where I'm at right now. I mean, I do I do enjoy being a general contractor has its ups and downs, but Are you asking about the Yes. Come about the house is what to do with them, Or what are we trying to get to here? Yes, the properties trying to figure out what I should do with them. Okay? All right. Well, there's nothing wrong with you managing them and owning half with your mama's long as there's not some kind of toxic. Stuff going on. It's not putting a strain on anybody. There's also nothing wrong with your selling both of them and splitting up the money. Give her some money and you take some money and you could even help her get with an investment broker and do some investing. Um, you know, so she's got some of that money coming in. What would she like to do? She's left it in my hands. She is on board either way. Um, my father and mother they had a great marriage, but I never realized how little she was involved in the finances. So since his passing I've Basically had to give her a crash course on how everything gets paid for, you know, and my two properties we would say we invested about I would say six or 700,000 they make about 90 gross a year on their worth about Two million if you sell them, so that circle kind of that loose me back to my question. Do you want to keep doing this? Um, because if if your mom's in different And the finances here. If you sold these properties and walked away with it with a hefty return on this, it sounds like the real question for you is, Do you still keep being in this business? You're in it with your mom financially, but she's not help. She's not trying to jump in and manage it. And I think we should get along this way. And I want to use this room for So really comes down to you want to do this or not? There's nothing wrong with either answer. No. In terms of the financial or business aspects of it Since there's no toxicity, it's I let me ask you something. I think I'm hearing A little bit of resentment for her being what we call in the South, a kept woman. She was so taken care of, and so in the dark, and she's just like you keep doing all the work like your daddy did and just send me the money. Yeah, it's I mean, not exactly in that sentiment, but yes, she She's concerned about me having to take on the burden of supporting her because I gave her my father's paycheck for the past year and everything to kind of get everything settled, But I'm at the point where if I continue the business I need to free up that capital to hire people to help me. Yeah, very big spot. Business is a separate equation from the real estate, Is it not? Yes, but there it's there to me. They're intertwined. Because if I sell it, I could reinvest in my own business. Robert, you still have avoided my question. What do you want to do? Dr John What am I? What do I want to be? Oh, what do you want to do with the real estate? And then what do you wanna do with the business? No. You can say I want to keep the real estate I want to sell, Sell it done. Sell it. Split the money with her. Help her. Do some investing helper Go through. I'll give you Ramsey. Plus, let's put her through a money course. Or she learns how to be a person who handles her own funds. Okay, we'll teach her how to handle money. And I'll pay for it. Sure, I'll take care of widows here. That's what we Christians do. And so we'll do that. We'll take care of her in that regard, not by taking here ever but by showing her how to take care of herself. Teacher no fish rather given her fish. And then she's gonna have a million dollars And then you're going to use this money to buy her out of your business, aren't you? No, no, She has nothing in the business. It's not to buy her out. Okay, so she doesn't have any ownership of the business from the estate. No, sir. Okay, Okay. Cool. Sell the real estate, Split the money, Help her, get set up and get running and you use the money on your side to run your business. Is that okay? Sure. Yes, Yes. Does that make you smile? It did. Yes, it did. Okay. Does your date your dad? Is your dad in heaven, smiling? I hope so. Yeah, I think he is. I think I'm doing a good care of your mom and you're running your business and you're a grown man. You're gonna have your mom a million dollars. Robert, you did a good job. You talk. You sat down and talked your mom how to take care of herself to give her a gift of.
"baloney ramsey" Discussed on 106.1 FM WTKK
"Dave Ramsey, your host, Dr John Baloney. Ramsey personality is my co host today. Opened phones at Triple 882552 to 5. That's triple 882552 to 5 as we talk about your life, That's why Dr John's here and your money That's why I'm here, and we'll probably both interrupt each other as we go along. It's kind of what we do here. Jamie is with us. Jamie is in Scranton, Pennsylvania. Hi, Jimmy. Welcome to the Ramsey Show. Dave, How are you better than I deserve. What's up? Oh, I wanted to ask you about a little bit of a saddle plan on buying my first home. Um, I have enough cash to buy it. She picks her upper and paid cash without a mortgage. But the problem I have is I need a garage on site. Big enough for one small business. Adults on guy can't afford property with a big garage in the house. So I have to say you're Elvis on better off buying the house, paying cash it and financing put in the building up or the other way around. Mm. Well, I guess it's ah, if it's the same amount of money that you're going into debt. Either way, it's just whichever property you want to end up with right. I guess, but being self employed, it's very difficult to get a mortgage. I was kind of figuring that if I had a property and help the deed to it, it be easier to get a loan for the building. No, no, no, no, no, Be the exact same thing. Because in both cases, if you're struggling to get a mortgage, you're gonna be going to a local bank or other than a traditional mortgage company. So, of course, the other option is to, uh, you know, buy a property to live in and rip your garage somewhere else. Well, the problem. The problem I have with that is I'm I'm sick of ranking. Um And I have Ah, have a young song that I take care of every day. He comes to work with me now, and I'm reeling that realizing that in this post coded world we're gonna within that They're going to cancel school for any time Somebody gets the sniffles, so I figure Better off being prepared to have him there every day with me, right? You know, you understand what I mean. I want to be able to work and live in the same property. So that you're single Dad. No, no, he his mother works full time and I take him to work with me so he doesn't have to go to daycare and stuff like that. So I'm a full time dad. Part time business owner. I guess you could call me You sound like somebody that's on the back end of a really frustrating trying exhausting year. And who was just fed up with the way that the politics and schools and a lesbian run, especially up there on screen. And I would suggest not going into a long term. Dead. 5 10 15 20 year commitment financially over of a current Justin exhaustion in a frustration right now. No, I Agree. I don't know when Uh, Schools are going to normalize, but to project that they're never gonna normalizes is not accurate, right? Um and, uh I don't know exactly what's going to occur, but Is the entire public school system in America going to be App to shut down was sniffles from today forward Now, is it in some places right now? Yes. Is it not in some places right now? Yes, there there. I mean, we're in Middle Tennessee, and it's pretty well open on. They're not freaking out. They freak out more about tornadoes than they do covert right now. And so, um Um, more likely to shut down for that s O. That That's to tell you that it has normalized here. I guess if if you want to call the phrase noise normalized is a good word. I'm not sure it is a good word, but anyway Toe. Doctor John's point, Jamie, I agree. I would not Build a life around this current circumstance. Wouldn't build a dad and home purchase around this current circumstance. Um and but it sounds to me like you just don't want to rent and you're using this is a justification to so I'm buying a house and written a garage. And if kids gotta go to work with a couple times while you rent a garage, I just do that. And, um especially while this is a part time business, Yeah. Yeah. Or you know, by house and have a small mortgage on this Got a garage. I don't care, And you can get that at your local credit union or whatever on if your wife has a full time job and makes an income. And you have a part time business that makes a profit that you pay taxes on properly. You are bankable for a loan. In that case, If you're trying to make zero money on this garage and show that on your taxes because you're taking everything under the table, then you need to do your taxes properly and not take it all under the table and that'll help you get the loan. By the way, but you're also supposed to be paying taxes on their money, or you're really not making any money. You're not making a profit legitimately, in which case you're not bankable. So that's another thing. And oh, in which case you wouldn't need to be running a garage, either, because if you want a garage for a cool hobby Where you're building something or make it something that you like, But you're not making money on it. Exactly. Alex is with us in Sioux Falls. Hey, Alex. Welcome to the Ramsey Show. All right. Thank you. What's up? So I've kind of dug myself a pretty big hole relationship wise and Financially. Mom about 55,000 in debt, not including my mortgage. Yeah. Student loans, credit cards and home equity loan..
"baloney ramsey" Discussed on The Patriot AM 1150
"John Baloney. Ramsey. Personality is my co host today. Have you ever made a dumb decision was zeros on the end? Because you didn't do your research? Yeah, me too. Check your fax as we were just talking about if you're moving a piece of real estate if you're trying to solve piece of real estate, particularly right now, in this wacky, crazy market, it's not amateur hour. You need a pro in your corner. Never buy a house without the fax. Text house. The 33 7 89. That'll get you in touch with one of our real estate, he LPs and agent who is a high protein, high octane. Agent moving a bunch of properties and knows how to navigate this market. Especially if you're selling in this market. Text house 233789 33 7 89 Meghan is with us in Greenville, South Carolina. I'm Megan. How are you? Hi, Dave. Thanks for taking my call. So how can we help? I guess I just I guess I just don't know where to start my husband and I just got married in January. 20 ng. Thank you were renting. I just started a new job last September. I'm a lawyer, and he just switch jobs working for a big steel company. Now he works for my parent company. And I'm three figures in student debt combined with his we have about 10,000 and credit card Get, um probably 30,000 dead and cars. And like I said, we went and we're kind of at our breaking point. Um, I have, like $200 on our checking account, and we just don't know Whereto what to even do what is the actual balance on the student loans? I'd say about 1 75, okay? And what are you making? I make 75. What's he making? 50 Actually $125,000 to attack this with All right. Um Well, The great news is you have a good degree. The bad news is you paid a lot for it. And you're deeply in debt because of it. So you're gonna be shoveling a while. Yeah, and that's in. So that's hard because I know that that I knew that a lot of that is me. Um, I said, I'm got about 1 50, he said about 25 so together about 1 75 about the cars to 15 or 20 and a 10 or what? 12 2016 f 1 51 the 2015 Acura. We're upside down in the F 1 50 what they were saying. Um, worse or what do you want? What you owe on each other. 25 on the FLN 50 and the Earth 10 on the Acura. You need to sell the f 1 50. Yes. Ridiculous. What if we're upside down, and it's like, okay, you need to get you got to borrow the money to cover the difference or scrape up the money to cover the difference. So you owe your 25 on it. What do you think it's worth? Maybe 20, maybe 19. It's got 175,000 Miles. Yeah. 5000 bucks gets you out of that thing And you get a beater car to drive because you have $125,000 for the death to clean up. You don't need a $25,000 pick up. Okay? It's out of control. You have $600 truck payment. No, it's 6 45 a month. It's crazy. Almost like I've done this before. Yeah, Yeah. What? What kind of law? Are you practicing? Havel defends, um so defending descending companies that have been sued. Um and you know, going back to the student loans, I guess at the option in this nature to go work for the government, and I know that Okay. You need to just keep working there and go double your income in the next four years. Yeah, And I know that that's coming because I make 75. Now I'm sure that a raise or bonus, I think you're gonna be making 100 pretty quick and 100 a half pretty quick after that, If you keep on a standard track, you know, for for an attorney, and you're you know, you have a decent firm and all that kind of thing. And hopefully your husband's income will continue to go up a swell. So here's what you signed up for. You need to get into a beater car and get rid of the pick up and then you're going to get on a written game plan. A detailed game plan called a budget. And you're gonna live on nothing. And just clean this mess up and it's going to take a wild $200,000. If you do 50,000 year that's gonna be four years. If you do 75,000 year, it's gonna be three years And that means every big bump you get. Everybody's every it it means you're not going out to eat. You're not going on vacation and you're not buying a house. You're broke. Yeah. And listen, I speak. I spent years working with lawyers, a love them and they will look at your car in the parking lot and then look at you with that disdain that what did you do all this for? If that's what you're driving. And they're gonna ask you why you're renting. They're gonna ask you, man. You got a mess to clean up. While the honest with you the reason why I called in today was because it's literally the question I've asked myself, um, for the past month, Like, why did I go to school this long? Like why did I take out all this money and you're gonna make 100 half three years from now? Yeah. And besides that, you can't. You can't un ring the bell. It's there. So let's just deal with you asking backwards Questions. Get you nowhere. I wouldn't have signed you up for it, but you're signed up. Yeah. So now it's about Hey, what are we going to do to get even and then? Yeah, when you when you and your husband when he's Making great money You're making 150. You're you've made partner. If that's even what you choose to continue to do you owe nobody. Any money that stacks up real real real fast. So I want you to think about $75,000 year. On that. Which means you're going to take all the OT. He's gonna take all the OT. You don't do anything you can to create income and you are going to spend nothing That's going to be very hard this year. Next year, your incomes will go up. It'll be easier in the next year. Your income to go up again. It's gonna be even easier. But that's that'll Get you out in three years. You'll be 100% debt free and three years if you do that. And you passed the bar exam. So I know you can figure out a way to do this. Yes, I did. So you think selling the truck first? That's the first order of business. But now we're gonna do it all at once. We're gonna get on a budget, live on nothing and sell the truck. Okay, but list your debts, Smallest to largest payment, cut the.
"baloney ramsey" Discussed on The Patriot AM 1150
"To dig pretty deep to find those a lot of times. Keep listening to I heart radio for more Jason Aldean and all your favorite artists. Free I heart radio APP is number one for music, radio and podcasts, All in one discover a new podcast from our library of over 350,000 titles. Here's an I Heart Radio podcast preview. This is the story of the rise and fall of the world's youngest self made female billionaire. Did it concern you that a number of tests weren't working on fairness, SIS devices? Look, I know that we made mistakes. Not so long ago, Stanford Dropout turned CEO Elizabeth Holmes was a rising star in Silicon Valley. These tests detect doesn't have medical conditions based on only few drops of blood from from my finger prick. She was on Charlie Rose. She did. CBS this morning at 19 years old Elizabeth Holmes dropped out of Stanford CNN. I mean, on and on and on. No one has ever seen this year of the first one. Now her company, Theranos was poised to change healthcare forever. If she had made this work, she would have been the next Steve jobs. But today Dr John Baloney. Ramsey..
"baloney ramsey" Discussed on KTAR 92.3FM
"Birth defects have been linked to toxic chemicals and solvents used in semiconductor in Computer chip clean rooms. If you were working in Motorola or any other semiconductor plant, and your child was born with skeletal Oregon or limb, deformities, blindness, terrible policy, genetic damage or other problems, they could be entitled to compensation. Call the law Office of Plattner Verte Rommie now before any more time slips away, call 183355 toxic. 183355 toxic 183355 toxic If you are a current or former semi conductor and microelectronics worker for Motorola or any other semiconductor plant, and your child is suffering from birth defects. You must call the law office of Plattner Verte, Rommie and Phoenix right now, 183355 toxic 183355 toxic. 183355 toxic and get them the compensation they deserve. Three. Dr John Baloney. Ramsey. Personality is my co host. Today. I am Dave Ramsey, your host in the lobby of Ramsey Solutions on the debt Free stage, Daniel and Laurier with us. Hey, guys, How are you? Better than we deserve. I love it. What do you guys live? Dayton, Tennessee. Oh,.
"baloney ramsey" Discussed on 710 WOR
"You know that 52% of Americans have less than $10,000 saved for retirement? If you're in that majority retirement may sound like a hopeless situation, but it doesn't have to be. My name is Chris Hogan and I want to help you carve a path Your dream retirement. We have to stop thinking that retirement begins at some magical age like 65 or 70 retirement begins when you have enough money. Enjoy the lifestyle you dream about. It's gonna take more than a dream. Though. You have to get serious about making a plan. I've created an assessment tool that helps you know what you need to do to reach your dream Retirement. Get your free assessment at Chris Hogan 3 60 calm. Whether your goal is to live comfortably traveled the world or have enough money to help grand kids with college and to be able to give like crazy. You can reach the number you need. It just takes a plan. Go to Chris Hogan. 3, 60 calm to start making your plan. Today. 2021 is finally here, which means 2020 is over. And now you get to decide how this year goes. Rachel Cruises new book Know yourself Know your money is also finally here and this book will help guide you to faster progress with your money, No matter which baby step you're on. For years. We've taught you that personal finances 20% acknowledge and 80% behavior. This is the book for helping you grow and control your behavior. Know yourself, know your money go. It's beyond the baby steps and gets to the root of your money choices and missed stakes. 2020 probably gave you a pretty clear view. At what your personal money fears are. This book will help you channel those into a healthy money mindset. So you can make 2021 a year worth celebrating. Get your copy of know yourself. Know your money today at the online store at Dave Ramsey dot com, or call our Ramsey concierge team at Triple 82273 to 2. Three. Dr John Baloney Ramsey, personality writer of the best selling.
"baloney ramsey" Discussed on KOA 850 AM
"8:50 A.m. and 94 1 FM. Dr John Baloney. Ramsey personality is my co host today. Here on the air Open phones, a triple 882552 to 5, Cliff and Ryan are with us in Cleveland, Ohio. Hey, guys, How are you? Good day. How are you? Very cool. She almost screen your debt free. Congratulations. Thank you Love it. How much have you paid off? $71,135 Lovett. How long did this take? Forget? That's right. Get the 52 cents in there came out the corner of the couch, right? So how long did this take? Just under two years. Right right around 23 possible, Okay, very good and your range of income during that time. 1 13 to 1 17. Okay, What do you do for a living? We both work in television broadcast production. Actually, I work in professional sports and Cliff works in television. Okay, local affiliate there. Yeah, okay. Yeah. Very cool. What kind of debt was the 71,000? Well, it was a range we had cards and cards and card. Uh, four credit card store credit cards. Uh, Credit Union credit card. Uh, both of our school loans. On then, uh, vehicle vehicle loan and then a home improvement loan. What was the big one lucky student loans? I think they were the biggest love their die. Ganic. Okay. Oh, pesky, shall we may have to go long You guys been married? The Valley. How long you guys been married? We've been married Just over 11 years we've been together about 17. So what happened two years ago? This that you guys on fire? What's the story to this journey? So ah, Lot of my family had been mentioning your name at various holidays and I always brushed you off. And, you know, I thought we were good with our money. We had good debt. You know, Like everybody says you're you have you should have good debt and then Forward a couple months and my best friend Whitney came over and she pulls out these white envelopes. And I was like, what are those? You know, we're just trying to pay for some pizza, and she's like, obviously my cash envelope some following this Dave Ramsey plan and I'm like, Wait a minute. My family talks about this guy like, who is he? You know, and then I brushed it off again and fast forward to July of 2018, and I just couldn't get you out of my head, Dave. And so I googled you and you happen to be running a Christmas in July. Special and Lucky for me..
"baloney ramsey" Discussed on WTMJ 620
"Dr John Baloney. Ramsey personality is my co host today. Here on the air opened phones a triple 882552 to 5. Jamie is whether it's Jamie is in Sarasota, Florida. Hi, Jamie. How are you? I'm doing well. How are you and John? Do it Great. How can we help guys when they go straight to the point? I'm 38. Married. Have a child one underway. Yea egress, baby, I know. Thank you, baby. Step six. Um we all on our mortgage 13,000. We have about 27,000 in savings, So we're going to pay that bad boy pretty soon right today in the next like in the next like, few hours. Yeah, congrats. Oh, yeah. Um, So I have a two part question with that background. Um, uh, number one person foremost, this is not our forever home. In fact, we're probably going to be here. Probably another two. I'm assuming 23 years, tops before my job moves me again on I'm wondering person foremost, should I invest into this home? They like gutters and fences and all that. And my second part to this question. Is that now that the home's gonna be paid off Now, like Mm hmm. Okay, Well, now, what is you, Max out all retirement and you begin to save outside of that towards your next purchase, And I've been doing this show coming up on 30 years. It's only in about the last five years that I've heard the phrase forever home. Because most people know there's no such thing. You will never have a forever home. You're only forever home is heaven because no matter where you move, you're gonna move again. You're not going to stay your life changes your face of life changes and everything else. So anyway, it's It's just not a house. You're gonna stay in and you're gonna move in the next 2 to 3 years. That's awesome. That's cool. So what, what repairs or enhancements do you do to it? Once there two types, ones that are small enough that you can live up the enjoyment. In other words, whatever you spend if you spend a you got two little babies and you spend a couple 1000 bucks on a fence in the backyard, and it helps. You know that little babies play in the backyard or safe and not running that wild out in the neighborhood or something. Then that's probably worth that, even if the fence doesn't have value to the house. Okay? So that that's one type of thing you would do. You know what? Just a small enough investment that when you move, you just burned that money. And it was just for the good of the three years of enjoyment. Okay, the second. That type of thing you would do is you would talk to an E l P er, one of our real estate endorsed local providers. And just say, Okay, I'm thinking of spending this on the kitchen sink. It's been $7000 in the kitchen in a house that's worth X. Do you think I'll get my money back? I don't think so. Well, you might mean something's your mind How badge attention is okay, but, you know doesn't increase the value. Dollar for dollar. Amillia. Then you're spending doesn't mean if you spend 7000 increases the value the home 10. That's probably a good thing, right? So you would do those kinds of things that increase the value equal to the thing you want to do. Our more, especially if it's more you would do some stuff like that. So gutter sounds like normal repairs that should have already been done. We've been here in the house for about two plus years. So, Yeah, that was probably gonna be my next project E mean, if the roof is leaking, you gotta do that, regardless because it's just to repair has to be done. Yeah, right. I mean, we thought the house brand new So we weren't you know, doesn't need cutters after three years if it was brand new Well, that's really why I am asking is like Is it even worth investing in? No. Why does it not have gutters? We just didn't come together since they, uh They don't put anybody on the last year, but it's a, um, I said that home the type of home you bought at the price range of all just did that The standard model didn't have gutters, okay? So then the question question. Ask yourself if you get a bit on gutters and ask yourself in my increasing the value of the home by that, or am I going to get enjoyment of that much either one. Good news is guttering on basic guttering system or something like that a continuous flow. They bring the trucks out. It's a pretty cool thing. They do something. It's not very expensive, eh, So it's not. It's not a super high. Item. But my guess is you bought a neighborhood that no last time I've got so it's not like it's devalue in the house and let's just causing damage or something else. So you just gotta look at all that and just kind of go. Okay. Is this a repair? It should be done anyway. Are my doing something that's not done in the neighborhood unexamined? Well, an extreme example would be if there are no swimming pools in your neighborhood. And you put in the swimming pool. You're gonna lose 80% of the money you spent on that It is not going to increase the value of the home but about 20% of the cost. And so most of that you got to a lot of swimming in three years come up, you know to make that make sense, right? You going about their everyday so otherwise? It just didn't make sense. But that's that's the thing. You look at his am I increasing the value more, or at least as much as I am spending. Jakes in Atlanta. Hi, Jake. How are you? Good. How you doing? Did great man. What's up? My wife and I are here. We have just a couple questions about, like next step. So we've been following your plan for several years. Um, let us to being debt free in 2019 Way to go was thank you, which was Good timing, considering 2020 happened right after that, So currently where we stand. I'm in the film industry. My wife is a marketing director for a real estate company. I'm star income fluctuates from time to time. You know, there's years that are Really, really good two years there, you know, descending Well, the bills paid and we have a little bit of extra stating as probably having a great year and you're not. Yeah. Yeah, Basically all could that I was on unemployment. Um, so that kind of threw obviously big wrench in our plans because we were looking to buy home. Uh, come February of last year. We actually found out we were pregnant. So we have a brand new daughter, right? Was born in October. Um and we are stuck in a one bedroom locked right now, so the space is Very tight, but we have I'm definitely the best we possibly can considering where we're at on. We'd like to buy house. Um, we'd like to, you know, get into the steps of like a possible 5 29. You know, investing, you know, doing everything that we can do? Tow master, my where we're at right now. We kind of don't know what to tackle. First I'm back at work. Okay, So you are dead free 100% cause you're renting you have an emergency fund of 3 to 6 months of expenses. We do we have about 18 K. You know everything good. Okay. And are you putting money into retirement? Yeah. No, because we put that on hold so we could pay off all the debt. Okay? And now are you going to keep it on hold to save up for a down payment on the house? If you do, that's OK, That's one of our plans. We were thinking about that. But I You know, I'm 35. She's 32. So for 10 years With that, you know, I say for 10 years you're safe for 10 months. Correct? Yeah, for house. Yeah. Yeah, That's what I mean. You're not gonna stay out of retirement long if you do, But if you want to go and start retirement and safer house that's fine. Or sometimes people pause on retirement just a little bit and do what we call baby. Step three B and safer house. So four is 15% of your income into retirement vibe. This kid's college of sixties pay off the house that you haven't yet bought. Correct. And that's the baby steps. And if you'll just work on that way, you're gonna get to everything. You're gonna have a baby. Your baby's gonna have a college fund..
"baloney ramsey" Discussed on KTAR 92.3FM
"Minutes. What thousands more for your home. This is Jamie West at 72 sold. They only need 15 minutes to take a quick walk through your home. Right, Then right there, they'll give you a price. That's thousands more than if he sold any other way. You can even set your own closing and moved eight. You'll sell for thousands more in 72 soul dot com The easiest, most profitable way ever to sell your home. Get started right now. At 72 sold dot com Right tools and the right teaching. You can be confident you're always doing the right thing with your money, Ramsey Plus gives you all of that. It's our brand new all access membership to help you get out of that safe for emergencies and give with outrageous generosity. Here's how it works. You'll learn the proven plan with our best selling content, including Financial Peace, University, You'll budget with the every dollar app and finally take control of your money. Then you'll track your progress with the new baby steps app. So you know you're hitting your goals. Decide right now to never worry about money again. Go to Dave Ramsey dot com and sign up for a free trial of Ramsey. Plus, today, 2021 is finally here. Which means 2020 is over. Rachel Cruises New book Know Yourself Know Your money is also finally here for years. We've taught you that personal finances, 20% head, knowledge and 80% behavior. This book will help Be channel your behavior and money tendencies into a healthy money mindset. So you could make 2021 a year worth celebrating. Get your copy of know yourself. Know your money today at the online store at Dave Ramsey dot com or call a Ramsey concierge team at Triple 8 22 piece. Dr John Baloney. Ramsey. Personality is my co host today opened phones a Triple eight 82552 to 5. Mitch is in Cleveland, Ohio. Hi, Mitch..
"baloney ramsey" Discussed on KTAR 92.3FM
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"baloney ramsey" Discussed on KTAR 92.3FM
"183355 toxic 183355 toxic and get them the compensation they deserve. Additional terms and conditions may apply. See no investors dot com for details. I'm Dave Morgan with home smart success, and I don't want to buy your house for cash because you deserve more. Let's face it. Someone may claim they're doing you a favor by offering you a quick cash sale. But the truth is, they're just going to make a few small improvements and then flip it for a huge profit. Don't let investors steal your equity. I will own you up to $10,000 of my own money with no interest or fees so you could make upgrades and repairs to your home and sell it for top dollar. I will personally come to your house and make recommendations on how to maximize your value, and I'll wait until the house sells to get paid back. I don't buy ugly houses. I help fix them to put more money in your pocket. Whether you need paint flooring, new appliances, air countertops or bathroom. Remodel your home could be ready to sell for the best price possible. I close more listings in any other home smart, real sure, in Arizona. Let my experience and selling homes work for you say no to lowball offers and greedy investors go to know investors not come today to get started. That's no investors dot com. Dr John Baloney. Ramsey personality is my co host today. This is the Dave Ramsey Show opened phones. A triple 882552 to 5. Adrian is with us in Long Beach. Hi, Adrian. Welcome to the Dave Ramsey Show..