35 Burst results for "Dave Ramsey"
A highlight from Capitol Chaos, China Connections, and Censorship
"And just boil it down to the fact that they deprive the American people of real information that was reported by the New York Post. They had no right to do that. They had no right to censor that. It was the Obama deep state officials and the FBI that pressured and not even pressured that made them basically not talk about deleted and simply by that control and by censoring any conversation about the Hunter Biden laptop, they in that instance influenced the election in a way that favored one candidate over the other. And people need to go to jail for that period. Welcome everybody to the financial guys podcast. Thanks again for downloading and listening. We do appreciate it. If you can hit the like button and share, we appreciate that as well. Mike and Glenn here of course got a lot to talk to you about today as there's a lot on the, I got, I think this morning we must've fired back and forth, like I don't know, like 50 different, there's so much in the news, a lot of national stuff. So, um, you know, it's, it's, I mean, it's unreal where we are with this country as far as, you know, so video emerges from J six of officer asking about identifiers for undercover cops. I mean, this is unreal that this stuff goes nowhere. That's what's so frustrating about it. Thousand people are still indicted and jail. Some of them are in jail for years. A lot of them are in jail for years. They're still going after people. This is the largest investigation and arrest bust of ever and U and U S history for, for mainly trespassing. Just, just not to defend anything. I'm not defending what happened on January 6th. We were actually recording our radio show at the time it was happening. So we were recording in and talking about it in real time. And talking about how horrible it was that they were breaking into the doing any damage. But the damage that they did was in the millions. And there was nobody killed on January six. Nobody. Well, I shouldn't say that. Ashley Babbitt was killed, I'm sorry. And another innocent, uh, uh, person was a protest that was killed. No police officers were killed that day. Um, now compare that with the 22 or more officers that were killed or people plus officers that were killed during the BLM riots, the Antifa riots, billions and billions in the B trillion dollars a trillion dollars worth of damage. Milwaukee, Baltimore, Chicago, Ferguson. I mean you name it, all these cities across the country. Couple that Glenn with us finding out now that these people, many of them escorted in and baited many of them baited. That's right. Hey, come on in, come on in by FBI agents. We have it on video. We have it on video. That's right. What is really amazing is this is the United States of America and nobody's figuring out who these people are. Nobody's going after them. It's just so frustrating. What's for the problem, Mike, is that you got Mitch McConnell in the Senate. He's half dead. I don't think I'm peaching. You don't think impeaching, I think he should be marched out of jail. I mean, are you serious? Yeah. The amount of evidence now is not good for the Biden is outrageous. Yeah. Outrageous. It's a mountain. It's a mountain. I mean, it's a mountain. I mean, not only do you have the bloody footprints going, I've been using that analogy. Like these are the bloody footprints going back to OJ's house. Yeah. You have now found a knife in his drawer. That's right. With his fingerprints on it. I don't, I don't know what else you would be in a video and a video of it and a video of the whole of that. I mean, it's just unbelievable. Did you see Mitch McConnell getting booed? Hilarious. They were chanting retire, retire, retire. He and you know, and again, just like Biden, I mean he's got, he's got problems. He's got, he's got some, probably the beginning stages of dementia. You can see it. I don't know where I am. You know, here's the deal. His net worth is 35 frigging million dollars, right? He makes a hundred grand a year. His net worth is $35 million. It does not take a Harvard mathematician to figure out that there's some kind of bullshit going on. It doesn't. You don't need to have an advanced degree, you know, from, from Yale to figure out that that math just doesn't, you know, what's amazing then is they've all figured out the most amazing investment system ever. And folks like, we've got people on our team that are, you know, 40 years of experience, CFAs on CNBC and they cannot on a weekly basis and we can't recreate the model that a, that these folks have figured out. What we haven't done yet is bring on any Chinese spies onto our team. That's the mistake that we're making. See, and that's where Mitch McConnell was married to a, I'm saying she's a spy, but she is Chinese and I have no idea what kind of connection she has back to her family. And I don't know. You can't take it. I don't know. But I gotta be honest, he seems to be awfully on the side of China Joe who we do know has received, you know, when Trump talks about this stuff, I was listening to a very smart pundit I was talking to, and he even missed the point on this. Hunter Biden went over to China. He got immediately and came back, got set up an investment advisory firm. This is our business. We know this. Immediately got an investment from the Chinese communist party for $3 billion. Right now he charges 1 % on that. That makes $3 million a year just by sucking off that $3 billion that the Chinese communist party invested in his firm. Not a re not a registered investment advisor, Glenn, no background in being a CFA or any of that. No, just like he didn't have any background as a oil executive or any experience running a business or any experience as a painter and experience in real estate or anything else. You and I have assembled one of the most dynamic teams, if not the most dynamic team in all of Western New York, right? Chartered financial analysts, certified financial planners, certified social security claiming strategist, certified college planning experts, certified estate planning experts, Dave Ramsey certified experts. The list goes on and on. We do not have any billion dollar accounts from China. Isn't that remarkable? No, that's remarkable. Some drug addicts got $3 billion, right? The difference is we have to follow the law. We have to do things like, you know, OFAC reports, which is the background checks that we have to do to check for terrorists and criminal time. You mean the one that Hunter comes up on time and time again? Those are the SARS report. Those are the suspicious activity reports. There's a website by the way. I haven't had a chance to even look at the website, Mike, but there is a website out there that has listed all of the SARS reports. I don't know. They're supposed to be non -public. I don't know how they got their hands on these, but I haven't looked at them. I don't intend to talk about them, but what I have heard about them, I will talk about them a little bit here. I'm not going to go on and look at them, research them and get into, it's just too much news coming fast and furious. But the latest regarding those SARS reports, I'm not sure if you heard this, Mike, but a number of those are the, the suspicion was sex trafficking. Did you know that? That was part of it now. So, so not only is it a prostitution, money laundering, you know, all kinds of suspicious activity, a good chunk of those 150 plus now, I think approaching 200 suspicious activity reports, were for, for, for sex trafficking. And it's just, it's just, I mean, maybe I should go look at them, look at them and pull them up and we'll pull out some, some specific ones and talk about them on the radio. Maybe that'd be a good show for a, we fill in for Bob Lonsbury on Monday. Maybe we could talk about some of that because maybe, maybe we should do a, more detail on it. I don't want to talk about it. So, because number one, you're not supposed to talk about SARS reports, but if they're public, they're public, but number two, again, there's, I think, you know, yes, that's hugely important information. Absolutely. Hunter needs to be going to be investigated. Absolutely. And probably should be in jail for sure. Right. He's done disgusting things, including with his own niece and his brother and his, on his deceased brother's widow. That needs to start by the way, with the FBI, which has corrupt us how, right. But I'm more concerned about the Biden, the big guy. I'm more concerned about, you know, should all be asked to investigate it. It's clear, it's clear that it leads right up to him. Right. Now we're, now we're finding out that, you know, some of these people have visited the white house 30 times, 35 times, right here, by the way, let's play this quick video. I don't, I haven't played this, but this is him getting booed. It's just worth, worth the, worth the listen.
"dave ramsey" Discussed on Wisdom From The Top
"With what those goobers do. Yeah, I mean, you have had a life of total loss, right? And collapse, right? And that really informed the way you think about the world today. I mean, when you were 25, 26, you thought you were the smartest guy on the planet. Now you have written bestselling books, you sold 11 million copies, lots of people think you are the smartest financial guy on the planet. But do you still, if you were evaluating Dave Ramsey from the outside, would you be skeptical of Dave Ramsey or would you think he is the smartest guy on the planet? I'm skeptical. Anybody thinks so the smartest guy on the planet. So I learned something every day. I'm older and wiser than I was when I started this journey. But this journey is not over. My wife is not married to the same guy she married 37 years ago and she will tell you, thank God. So I'm a lot better leader in my business than I was when I started at 32 years old. I'm much more knowledgeable of digital things than I couldn't even spell digital a few years ago and I'm continually learning and I'm the first to admit I don't know everything. What I do know, I do know. And I'm okay with that too. That Dave Ramsey, author of financial peace and other bestselling book, CEO of Ramsay solutions and host of the Dave Ramsey show, one of the most listened to radio shows and podcasts in the country. Thanks for listening to the show this week, the music for this episode was composed and performed by drop electric. I'm guy rose and you've been listening to wisdom from the top from luminary, built in productions, and in VR.
"dave ramsey" Discussed on Wisdom From The Top
"A problem? Mathematically, your most powerful wealth building tool is your income. Yeah. Until you have a net worth and access $10 million. And after that, probably your assets are your most powerful wealth building tool. Prior to that, it's going to be your income that gets you there. And so if you give all of your income away, you've given away your most powerful wealth building tool. And when you give it all away to a car company and the car loses 70% of its value in the first four years, and then you scratch your head and wonder why your kids college fund doesn't fund it. Well, that's just violating common sense. That's just dumb. And I've done dumb. I know what dumb looks like, but that's just dumb. And so this idea that somehow you're going to get away with playing with car payments and playing with Mastercard payments and keeping Sally may around so long you think she's a pet that, you know, if you keep this stuff around, it's sucking the very marrow out of your bones, mathematically. And then what's happened is we've just completed this huge study of millionaires. The largest one ever done in North America with over 10,000 millionaire surveyed and we found most of them started with nothing became millionaires and appall debt. They hate it. None of them said, oh, I use OPM, other people's money. I use good debt. I believe in good debt. None of them said that. And these are regular people that own hardware store that are a teacher that are a salesman, just regular folks out there that you run into in your community that just said, hey, I'm not going to give all my money to a bank. I've noticed they're building as larger than my house and their furniture is nicer than mine. That must not be an accident. Yeah, I mean, I think that the idea of debt, there's a psychological thing about it, right? Which is this thing hanging over you. When you get a bill and maybe it got lost in the mail and then you get the one with the red thing on the top saying, you know, past notice that freaks me out. But then I've got friends who are economists and know a lot about finance and they'll say, look, if you've got a really low interest loan, like a mortgage, like for example, my home mortgage rate is really low. It's three point something percent really small percentage rate. They'll say to me, hey, you know, that's debt that you should carry, that you should pay that off slowly. You shouldn't just pay that off quickly because you're going to get the deduction and all those things. Does that make sense to you? It sounds like they went to the same class I went to in college. But the problem is the data is different than the academic theory. The actual data in the marketplace of people who really build a wealth, again, I have never met someone ever. And I've been doing this 30 years. I've met billionaires. I've met people that are deck a millionaires. I've met thousands and thousands and thousands of millionaires. I have never in all of that time met one that said, Dave, you know, I use that low interest on my home to Bill wealth. They never tell me that. As a matter of fact, the average millionaire pays off their home in 10.2 years. And so the only people who can be wrong to keep their job or weather forecasters and economists. So I really don't care what their theory is. I'm talking to real people who are winning. And so really the idea is, if you can eliminate your debt, that's a secret. That's sort of the, I guess it's not really a secret. But that's kind of when people say, hey, Dave, what's your secret? What's the magic formula? It's really getting rid of debt. Well, because people want to live their dreams. They want to be outrageously generous. They want to be able to change their family tree. And when you don't have any payments, you can put 15% of your income in your 401k. Now, 15% of your income, if you only make a household income, a below average of $50,000 a year is $7500 a year. $625 a month, which from age 30 to age 65 in a poorly performing mutual fund will be over $2 million. That's the power of not having a house payment. That's the power of not having car payments. That's the power of not having a Mastercard and spending more than I make and acting like I'm in Congress and I can print money or something. It just doesn't work. So when you have people who call in and say, yeah, you know, we took the Sloan out on we got this really nice car, we took this loan to buy this house or whatever. I mean, do you also counsel people to, I don't know, to be kind of more modest with what they buy to be less materialistic or is that not something that you really care about? Sure. I mean, I made a lot of money in my life, but you never make enough money to buy anything you want. Because there's an infinite number of things you can buy. And so at some point, you have to learn about this thing called contentment. At some point you have to say, hey, stuff is fine, get you some stuff. But if you eat enough lobster, it tastes like soap. I mean, there's only so many things you can do with money. And at some point, the in game of it is empty. And so the whole thing is, yeah, I need to limit the car I buy. I need to limit the house I live in. I need to limit my spending at the mall. I need to limit this price of my purse or my jacket or my haircut or whatever. So that it's within the bounds of common sense so that I can live my dreams. If you will live like no one else later, you can live and give like no one else. Is that, I mean, that's interesting because that really I want to talk to people. I talk to obviously a lot of very wealthy people, right? And it's interesting because many of them don't sort of see their money as their money. I mean, especially when you're talking about a billionaire, right? You can't spend it fast enough. Most of that money is going to be given away. It has to be given away. Is that in your view kind of one of the points of accumulating a lot of money to give it away? Well, you quickly aren't learn whether you're in a situation like you're describing or whether you're a person of faith that you don't own it. As a person of faith, I believe I don't own anything. I'm just managing it for God. And part of one of my directions as I manage his money is for the good of my household. Past that, it's for the good of others. Past that it's for the good of an inheritance. And passing money along. And so I'm managing it for the good of the community for the good of my family, my future, and my lineage as well. And so you start to realize I'm a manager. I'm a steward of these incredible responsibilities. And it just, it ceases to become all about you. Otherwise, you just turn inward and become one of those icky people. And there's a few of those with money, but not many. Dave, I'm not naming any names, but some of your competitors on the radio. They really part of their currents, so to speak, is anger. Anger about the system about politicians, pointing fingers that people rallying people up. That is not, that's not what you do. It sounds like you're basically trying to say to people, look. Forget about the political situation or forget about. An individual in your state or a policy, like you actually have agency. You actually have the ability to write your destiny. Is that right? Is that what you're trying to say to people? It does mean no good to convince someone to be angry at something they can do nothing about. I can't fix what goes on in The White House. I mean, I had a political person asked me to come testify before Congress. And I said, no. Because you're not going to do a thing I say. So why am I going to waste my good air and the only reason you're doing is you want to somehow cozy up to my brand to get votes. And you're not going to do any of this stuff. So, you know, it's a manipulative garbage. So I'm going to stay home and help people. And I'm going to save my jet fuel. You know, it's just not going to do it. Because I have prospered and I have failed during every possible type of political regime in America. I extreme liberals extreme conservatives and misbehavior of all kinds in The White House. And it turns out that what I do every day when I get up and go to work and the decisions I make has a whole lot more to do with whether I succeed
"dave ramsey" Discussed on Wisdom From The Top
"We're really bad, you can just cut our pay in half. So you go on this show and people have all these questions about debt and who was calling in, like, what kind of problems do people have? Everything. From marriage problems over money to how to get my kid through college to hand on credit cards on behind on my house. I'm overwhelmed. I don't know how to do a budget. I don't know how to spell mutual fund. I don't know how to pick my 401k. I thought that was a race. We started realizing that the base knowledge of the average person even with a four year degree in finance on personal finance is ridiculously low. And it's almost like, I mean, the analogy can make car talk. It's like car talk for finance. People were giving you all these different scenarios that you kind of had to think, think of think of sort of ways to give them advice on the fly, I guess. That's true. And we would sometimes we just had to say the truth, which was, I don't know. I don't know, yeah. Tax law, I hate tax law and a lot of times the answer if you ask Dave about tax stuff is I don't know. Yeah. As you start to get more and more people calling in on this show and this became kind of a daily thing eventually, right? You're doing this, I guess, is a volunteer at the beginning. And you kind of, I guess, what's interesting about your story is that you really start to develop a method and kind of begin to codify your thinking into a series of rules, starting with something called that you call the 7 baby steps. What is that? How did that sort of come about? Well, as we were teaching classes and doing seminars and writing and interacting with people on the air, start realizing that people understood the principles of being on a budget or living on less than you make or having an emergency fund or investing for retirement or saving for your kids college or getting your home paid off. They understand the principles, but they kept the questions start to be over and over and over again. What do I do first? I'm paralyzed by too many things coming at me. Do I buy life insurance? Do I start my retirement? I really want to say for my kids college and I got $56,000 in credit card debt and two car leases and where do I start? And so what we figured out was that they needed the, we called it the instructions on how to eat an elephant. How do you eat an elephant? A by that time. And you have to have a plan. How do you get to Florida? You leave and have a plan. You have a map that you're going to follow. A clear path. And so that's what this baby steps developed out. I was a very practical way to implement basic personal financial principles, common sense financial principles in a way that caused you to get free of debt, but so that you could be outrageously generous, so that you could build wealth and retire with dignity. That first book that you wrote, I think it's called financial peace, right? When that book came out, you were not yet a wealthy person, right? You would come out of debt. Did a part of you feel like, God, I don't know, people kind of buy this book because I'm not like a poster child for success. I mean, yeah, I guess if I successes like getting out of getting out of debt, that is a form of success, but I don't did a part of you feel conflicted about what people would think of that book or if people say, oh, who are you, Ramsay? You know, you just all you've done is gone bankrupt. Yeah. A lot of people did. And some of them still do. Now, I just, all I knew was the experience that we had had. And I knew I could teach that. And my pastor used to say, a man with an experience is not at the mercy of a man with an opinion. And we had walked through it. We knew what debt did to us about destroyed us. We knew what not having a wisdom and a good plan did to us. We knew that co signing didn't work. We knew that foreclosures on the horizon when you break these rules. We knew what the stress and stream was on our marriage. We knew how scared we were, how terrified we were. And you really can't argue with me about my story. That's my story. And that's what financial peace was about. And here's what I learned from my story and it's gods and grandmas ways of handling money called common sense, which is Ben Franklin said, is not so common. As a matter of fact, it's very marketable. I'm guy Roz, and you're listening to wisdom from the top. We'll be right back. This message comes from NPR sponsor Ameri prize financial. SVP mercy keckler shares how Ameriprise Financial advisers help clients prepare for the expected and unexpected. Financial advisers take into account every individual client's goals and needs and risk tolerance, and also the possibility of market volatility, inflation and uncertainty in the future. For more information and important disclosures, visit ameriprise dot com slash advice, Ameriprise Financial services, LLC, member finra and SIPC. This message comes from NPR sponsor better help when you're feeling good, you can do great things, but sometimes life can leave you feeling bogged down, and you may feel overwhelmed, working with a therapist can help you get closer to the most empowered version of yourself. Give online therapy a try and save 10% off your first month at better help dot com slash NPR and get on your way to being your best self. This message comes from glass box media, self helpful with Kevin Miller is a podcast that helps discover inner potential and brings balance and joy into busy lives, feel inspired by powerful tips, tools, and advice, listen wherever you get your podcasts. This is wisdom from the top. I'm guy Roz. All right, so you are the show is growing. You're getting on more and more stations. What was the appeal? Do you think it was the faith driven part, the Christian part of your message, or do you think that a lot of people just had no idea that this was part of your life? Well, I mean, it was not an overtly Christian show. It was the wrong Christian radio. And so I've never been shy about who I am, but I also am willing to help anyone. And so you don't have to be, you don't have to share my even sure my value system for me to help you. You don't get to tell me to have a different value system, but I'll help you wherever you are. And care about you. And just be a real person on the other end who's also been scared. Scared doesn't know religion. I mean, scared everybody. It's sometimes. Or jubilant. And victory and cheering and I want to share with you when you win. And I love you to see people win. And so that's been the appeal of it. The faith undergirding is very, very attractive to people of faith. And the fact that I'm open about it is attractive to people who believe that you should be able to do that. It's very off putting to others. Yeah. The good news is on balance, more have come to us for help. And then have gone away because of who I am. So a big part of your message, if I understand it correctly, is that debt is something that you really need to avoid. That it's better to be debt free than to carry any debt at all. And I love that idea personally. But first of all, let's just break this down. What is it about debt in your view that is such
"dave ramsey" Discussed on Wisdom From The Top
"The Bible for financial advice? How did that happen? Well, I was a new believer and so I was consulting the scriptures on how to be married how to be a dad on my money. And there were people teaching in those days probably the figurehead most was a guy named malaria burkett in the evangelical world was teaching a series on what the Bible says about money. And it was a very, very grandma's common sense. I mean, have a budget, live on less than you make, save money, invest money, diversify, all of these things are contentment, avoid debt, the borrower slave to the lender, all these things are in there. And I just started looking at them and saying, well, as I compare those to my academic experience, some of them match in some of them don't. And I think I've now discovered why I crashed. The ones that didn't match. And so I'm going to go with this as my source of truth rather than academia, which had not proven to play out. And what did you what was the kind of overriding theme that you noticed when you read passages in the scripture about money? What was the message that you constantly come back to? Easy to understand and hard to do. Because it's easy to grasp for staying out of debt. It's easy to grasp doing a budget, but that means I've got to control a guy in my mirror. And he's a problem child. Yeah. Because it's interesting when a lot of people think of the Bible, they think of and money, they think of like a camel going through the eye of a needle, that's easier than a rich person getting into heaven or money being the root of all evil or Jesus Christ or in the money lenders have template. But money is, I think most of us don't think of financial references in the Bible as reflections of goodness. Is that wrong? Is that just a misinterpretation? Well, there's just glancing blows at some of the different concepts is what amounts to the Bible does not save money through it while this is the love. Of money is a root of all evil. And I think most people of faith or even if they're not people of faith, we can all pretty much agree, greedy is not a good idea. And that's all that's saying. And Jesus did teach more on money that he did actually own love. But he was doing it in a way to teach us how to live our lives well. And so the vast majority of money scriptures are not hyper spiritual. They're just instructional. And if you read through proverbs, there's 31 proverbs. Read one a day for 31 days and do that over and over and over again. You'll have a master's degree in finance if you understand what's in there. Because it's really not rocket science. It's but the problem is it's so simple and therefore so profound. That people tend to gloss over it. Or they want to just not look at it because they had a toxic experience with faith in some way or people of faith in some way that there's something goofballs around any version of faith and Christianity is no exception. So if they saw some goofball doing stuff that was just not credible, then they throw the baby out with the bath water and say, well, you know, the book of wisdom, proverbs is really not wise. Well, yeah, it is. I mean, the sort of classic entrepreneurial stories are do what you know. Start with what you know and what you knew was your faith, your Christianity, and then it sounds like you were able to communicate financial advice by drawing from the Bible that you could connect with people in your community by saying, look, here's what I do. Here's what I did. Here's where I got that inspiration. Here's the passage. And this is how you need to kind of think about your own situation. Exactly. And, you know, we believe in having manners. And so it depends on who's home by men, so to speak, as to how I'm going to communicate the message. I can communicate the exact same message and turn it into a Bible study if I'm in a church, I spoke to a group of juvenile court judges 500 of them yesterday, and I communicated a leadership message that was consistent with scripture, but it was not a Bible study. I was in a mainstream setting. And so I'm in their home, so to speak, and I'm going to have manners and I wouldn't come into a person a person of a different faith and kind of try to pound them with the Bible. That's inappropriate. But it is my viewpoint, and this is what I teach, and I can do that with and be winsome to whichever environment I'm in. So as you started to consult more and more, I mean, on the one hand, you are giving people advice on how to get themselves out of debt. You are still kind of clawing your way out of debt and I guess sort of an accidentally building up a new kind of business. Well, we went three or four years and then started doing some one on one coaching and teaching a little class in the mainstream that we actually charged for. And getting paid a little bit for some speaking engagements here or there. It really wasn't generating much revenue, but it was enough to eat on. And so what was going on with more and more people just kind of clamoring and saying, hey, talk to Dave. He knows he knows about this. He's your guy, and then more and more people would come to you and eventually, you know, your time is valuable. You have to charge a little bit for your consulting advice and a certain point it became clear that this was going to be the business that you should build. I'm entrepreneurial enough. I saw the need. I mean, getting people out of debt, this is not exactly a niche. I mean, me and Jenny Craig got a lot of work to do. Yeah, she just has a different a different product. It's also broadly needed by the vast majority of the population. Yeah. So I guess kind of a turning point for you, Dave, was around 1992, where you started to appear on a local show in Nashville, a radio show talking about finance. What happened? Did they approach you and say, hey, we heard about what you're doing at the church and can you maybe come on and talk about it on the radio? Actually, I was in a real estate club, one of those nothing down clubs, and we had a speaker coming to town, and I went in there to promote him on this show that was pretty much a Saturday Night Live scared. It was kind of like bad financial hour or something on Saturday Night Live. It was horrible. We kind of talked about the promotion of this club thing I wanted to do. And then he said, so I hear you're also doing some helping people with foreclosures and stuff and people that got financial problems. Hey folks, if you ain't financial problems, this guy will help you in the phone started ringing. And so we started taking calls for the next 20 or 30 minutes. And people that were hurting and were able to help them a little bit. And another guy and I went down and talked that radio station into letting us do a one hour show for free. And we told the guy running the station if
"dave ramsey" Discussed on Wisdom From The Top
"Your podcasts. Welcome back to wisdom from the top. I'm guy Roz. But I'm wondering, Dave, I mean, on the flip side, you had you succeeded, right? Had those banks not called in the debt. And you turned that 4 million into 8 and today a hundred, you would have been seen as a genius. People would have said, look, you know, he took all these loans out and look, he turned it into a $100 million. I mean, in some ways, right? Yes, it was your responsibility to sign those papers and stuff. But you also got really unlucky. You know, my friend Jim Collins has written a book called great by choice and he is a big academic, and he says, Dave, we've actually quantified that luck is not. It's a series of decisions. There's outside variables that play, but you control the controllables and the people that are in the companies that are great. It's by choice. The truth is, is the guys that do what I was doing almost none of them make it ten years. I have never met someone that does the nothing down real estate seminar garbage and at ten years later is still still doing it. So what is the feeling sorry for yourself, you're blaming everybody, but at a certain point, you start to realize that it's your you are the one who made those decisions. That's actually kind of a difficult transition to make. What was the sort of the mental leap that enabled you to start to see it that way? Well, I think it's just how we healed emotionally and spiritually. And you and Sharon. Yes. I had met God in that process and became a Christian. And so I started actually understanding that if you're a farmer and you plant corn, you should never be shocked that corn grows. Yeah. And so there's a cause and effect to financial principles, business principles, life principles, sowing and reaping. And so I had built this thing that looked glorious on the outside, but it was a facade. It was very poorly built on very badly structured debt. And too much debt, and it truly did not know what I was doing, and it caught up with me. And really, at this time, you're also sort of undergoing a personal transformation and really becoming a Christian as you describe. And that sort of reflecting on what it meant to be a Christian that is what started to kind of force you to question the decisions you made. Exactly. And to just say, you know, as a part of my faith walk, I'm going to have to heal here. There's plenty of things to plenty of people and plenty of concepts that I can blame, but my not knowing about the law of gravity did not keep it from kicking in when I jumped off a building. It's still worked that way. Whether I understood it, whether anybody explained it to me, whether it's not there. So now I need to know about the law of gravity and I need some wisdom to go with my intellect and there's a little different thing going on there. So we just start that process of slowly taking responsibility and not an unhealthy toxic way, but just saying, all right, so that means also that I can make different decisions and have different outcomes. I do control large portions of my future and so I've got all these lemons. I might as well make some lemonade with it. So by 25 you're a millionaire by 30 you were broke, basically. Exactly. And it sounds like you really started to become more and more influenced by your faith. Was there a person or people that kind of also gave you tough love and said, hey Dave, if you know like, this is you. You're the guy that decided to do these things. And you're the guy that can dig yourself out of it. Well, people that truly love you if all you're doing is whining all the time eventually we'll have enough of it and tell you. And I had a good friend buddy man at the church, but he's just a business guy and sitting at lunch, you know, whining about how this is everybody's fault. And he said, look, you know, you've got a story to tell here. You've already lived a lifetime and you're not even 30. There's something here that can be used. There has to be some redemption story in this process. And you're not going to find it whining. So this guy, you're sitting down with says, hey, you've had this experience. Why don't you figure out a way to use this experience and help other people? Exactly. I was kind of scratching around the edges of that anyway because I had friends come to us and say, well, you guys didn't get a divorce, and hey, we're behind on our bills and it's not millions of dollars, but we've got to mess over here and we're feeling all the same fears and stress and can you help us, and I went, well, yeah, I can show you exactly what we did and what we shouldn't have done. And I can tell you from best practices and worst practices, we can combine those and we'll come up with a plan. And I had started studying scripture for what it says about money, biblical finance, if you will, which is really nothing more than common sense, but common sense is not often taught in academia. And so I didn't have any. And live on less than you make. Save money. I didn't do any of those things. And so I started just applying those principles to our personal lives and then sitting down with other friends just over coffee. What probably were my first coaching or counseling sessions, but unpaid just showing someone how to do a budget with a yellow pad. People would come to you and say, hey, you really screwed up, Dave, and it seems like you're kind of figuring out how to get out of that situation. And I've really screwed up. Can you help me too? That was what people would say. Exactly. As we tug into it, years later, we started realizing that almost everybody has done something. You might not have gone up in a ball of flame like I did, but most everyone has had some really stupid moments with money and they look back and go, man. And so there's a lot of shame, a lot of condemnation, self directed by most people on the subject, and the beauty of our story of having done stuff DOM with zeros on the end. I mean, I got a PhD in DU and B is it gives other people permission to talk to me then. Yeah. All right, so you decide, I guess, that really your mission should be to help other people who are kind of struggling. And I guess initially it started with what people in your church and your community like in your neighborhood. Exactly. Yeah, we were just took these principles and it turned into a Sunday school class at the church. From there, a guy called with a restaurant chain and said, hey, one of our regional managers is about to lose his house. Can you sit down with him and help him out? Wow. I'll pay the fee and I didn't know what to charge because there wasn't a fee. And so he paid me a couple of $100 and I sat down and worked out a deal with the mortgage company and used my knowledge of having bought foreclosures before and then I was one. So I had a full look on this thing, a 360° view. Wow. So essentially, your consulting career begins when this guy from the church says, hey, can you help my one of my managers and then I guess you sort of by accident become a consultant? Exactly. Exactly. And then I just thought the psychological rewards were off the chain. How do we get so excited so fun? I want to do it 24/7. And in a sense, 30 years later, it's still what I do. So here's some interesting in the Bible, there is this concept of biblical finance. Which a lot of people are not familiar with, even people who are religious. But what is it? How did you even begin to consult
"dave ramsey" Discussed on Wisdom From The Top
"I guess you've got this $4 million portfolio. You get 3 million in debt. Things are fine, except I guess there's certain point. Your lenders call in your loans, what happened? I mean, you knew these banks you knew these bankers, why do they call them in? The banks got sold. The law changed in the state of Tennessee allowing banks that were not chartered to the state of Tennessee to buy Tennessee banks for the first time. Part of that, it was all domestically chartered banks. Which kept it kind of small town feel. And all of a sudden, these outside conglomerates started buying up the local banks and I've got a guy 800 miles away looking at a portfolio and goes, there's a kid 26 years old, those are some 1 million 2 and 90 day notes. This is scary. Let's limit this relationship, which is banker talk for ruin his life and our largest lender called our notes. We weren't even late, but they just questioned the quality of the collateral, which on the commercial note they've got the ability to do. And I was an idiot and signed that piece of paper. So I signed up for a trip and they helped me take it. So what did that mean? Did you start getting letters in the mail that said, hey, you've got 90 days to pay us back. They brought me in for dinner and explained to me that they were calling all the notes in person and of course it's all tied up in real estate and we've been running this system for a while and there's nothing wrong with the system until you just all of a sudden pull the plug on it. You pull the rug out from under the House of Cards, the House of Cards falls even faster. And so we did, we hit we crashed and it took two and a half years to lose everything we owned. And when you say we, you're talking about you, who else your wife? My wife. You were married to that at that point. Did you have kids? We had a toddler and a baby was born the year that we filed bankruptcy in 1988. Wow. Okay, so you are, that is some serious pressure, right? You've got so young, you've got two little kids, you've got to pay $3 million back to the banks. How was your, what was your state of mind like? Well, I think it was survival mode, just fight. And so one year we made 250,000 the next year, we spent the whole year selling everything, trying to meet these obligations. My taxable income was $6000. And so, yeah, we went from sheer terror to sheer exhilaration to sheer terror on a daily basis. And I thought we were going to make it thought we were going to make it thought we were going to make it in. Sharon was just scared. She couldn't breathe. I was my little arrogant self esteem was completely gone. So I was not only broke, I was broken, and it just about killed us. I mean, we almost got divorced. We sharing all these laughs and said she would have left, but she didn't have a car. I mean, it was just, it was bad. Everything was leaving. And we went from, you know, growing up middle class to living the high life to being paupers in just a very short number of years. So how are you able to even begin to pay that debt back you just sell that property, presumably some of it fire sale prices? Exactly. And that's not the best way to solve it. So we didn't make it. I mean, we paid it all the way down to I think it's just under 400,000. We all most made it, but the lawsuits and the execution on the lawsuits and coming to get the baby bet out of the house and this kind of stuff. It reached a breaking point. Plus, I emotionally ran out of gas after two and a half years of fighting it. Spiritually ran out of gas and just hit the wall and I just, I don't know what else to do. I was a 28 year old kid with a brand new baby and a toddler and a marriage hanging on by a thread. I no longer was a superhero. How did you pay your bills? Did you, I mean, did you call your parents were they able to help you? No, I mean, we just paid them first. I mean, we bought food out of the money that had coming in before we paid some banker and the water did get cut off. The electric did get cut off, but we would scratch the money together and put it back on and we had to keep the basics of life running enough to be able to fight and work on this monopoly game that we were losing. You eventually filed for bankruptcy in 1988. Did you think that that was going to kind of that's it? I'm sort of ruined. Yeah, you know, our story is one of bouncing back, but we didn't really bounce. I shot around wine and moaned and blamed everybody else for much stupidity. It was the government's fault. It was the IRS's fault. It was the bank's fault. And it was my fault. I was the one signed up for the strip. I built this House of Cards. But it took a while for me to get my emotions and my maturity and my spiritual walk around that to where I could take responsibility for what I did and but yeah, I definitely sat around feeling like a failure because I thought, hey, this is the stuff all worked. It all worked and then all of a sudden it didn't work. And once I realized that it was me that built this and it was me that signed this paperwork and it was me that made these decisions that set up these variables. That's pretty crushing. Stay with us. We're going to take a quick break. I'm guy Roz and you're listening to wisdom from the top. This message comes from NPR sponsor, mass mutual, helping small businesses with long-term planning, certified exit planning adviser, Brian Krasinski, shares how they help business owners plan for a comfortable retirement. Our financial professionals work with business owners to help them make sure that they have the income in place either from the sale of the business or from assets outside the business that will allow them to continue the lifestyle that they become accustomed to. To learn more, visit mass mutual dot com slash business owners. This message comes from NPR sponsor when I work. The employee scheduling software that keeps your team informed, tracks attendance, and puts team communication all in one place. No more spreadsheets, build the work schedule faster, and easily track employee time, save hours each week and control over time costs, start your 14 day free trial today at when I work dot com. This message comes from glass box media, self helpful with Kevin Miller is a podcast that helps discover inner potential and brings balance and joy into busy lives, feel inspired by powerful tips, tools, and advice, listen wherever you get
"dave ramsey" Discussed on Wisdom From The Top
"American households have taken on nearly 14 $1 trillion of debt, credit card debt and mortgages, car loans, student loans, we have a culture and a financial system that encourages us and sometimes forces us to spend more than we have. Well, Dave Ramsey learned the hard way about the downsides of debt, and those lessons have shaped his life and his career. It all began when he launched a real estate business in Tennessee when he was still in his early 20s. He built a portfolio worth more than $4 million. And then, by his late 20s, he lost all of it and filed for bankruptcy. But that was only step one in Dave's career. Through connections and his church, he began to slowly build a business, counseling people on how to manage their money, how to avoid the same mistakes he made. Today, Dave hosts a popular radio show that reaches millions of listeners, and he's the author of bestselling books on personal finance. He recently appeared on the cover of money magazine next to big block letters calling him the debt slasher. But unlike other personal finance gurus, Dave's advice is based on a slightly different source. The Bible, Dave Ramsey isn't evangelical Christian, and he says, you can actually learn a lot about money by reading the Bible. Now, that doesn't mean his advice is just for Christians or people who are religious. It's pretty practical stuff anyone can use. Dave Ramsey grew up in Antioch, Tennessee, which is a suburb of Nashville, and both of his parents worked in real estate. Well, they were both one generation off the farm, so they believed in work, whatever it was, whatever form it took. And work is where money comes from is what we were always taught. And I think I probably was a little business nerd actually. So, you know, I always laugh when I'm talking to audiences and tell them I came home at 12 years old and asked my dad for money to go to the market and get an icy and he said, you don't need a you don't need money, you need a job. Before I knew it, we'd print it up 500 business cards and said, Dave's lawns and I had 27 yards to cut at 12 years old. I think that's child abuse. Well, I mean, you know, you're mowing lawns and you're making money and there you go, you got some pocket money. That's it, doing a P and L on the lawn mowers and by the time you were old enough to go to college, did you were you already sort of convicted like in the idea that you would go into business in some form some way? I intended to be a real estate mogul. That was my goal. I haven't grown up in the business. I didn't want to do residential I wanted to do commercial. And so I went to get a degree in real estate and finance. And I did. And I sold real estate residentially all the way through college, starved to death, but this was the early 80s when interest rates were 15 to 16%. You were like a real estate agent in college. Yes, I was working 40, 60 hours a week, but not a lot of houses selling in those days. Yeah. That's a tough job because you have to be sunny all the time. Like you've got really demanding clients who get frustrated when their houses sit on the market and you've just got to always be available and happy and was that hard to do? No, I don't know if I knew anything else. I mean, number one, I was 18 years old, so I wasn't that smart. But who lists their house for the 19 year old kid, but I talk some people into it and I'm walking around my disco suit and getting stuff done, you know? I mean, this is 1980. I didn't know any different. I didn't know any other thing to do. Yeah. So you graduate college 1982 with this idea of getting into commercial real estate. Obviously the first stop is to get into residential real estate. I'm assuming. Were you doing a lot of that around the Nashville area pretty much right after you graduated? Well, I graduated and took a job making $18,000 a year with this company. Syndicating these propane outlets and so forth. That didn't last very long. A company went broke, took another job with a franchise company doing site locations for them. And so I'd fly into cities and lease the building for the franchisee coming in and that lasted 6 or 8, ten months. That company got in trouble. And I got in trouble. Just a young arrogant guy. And ended up selling residential and then from there, I left the residential shell. I sold new houses, rates were down to my goodness. This is 84. I think they were down to about 12% at that point. 11%. And since they've been so high for so long, you know, everybody's lining up to buy a house to pent up demand. So we were selling houses and I left that to start buying and selling on my own and just started buying properties and flipping them. These were residential properties or commercial properties. I would flip anything. Anything I could get the banker to finance and probably done 1500 of those flips before and ended up keeping a few of them as rentals. But that was before there's cable TV to tell you how to flip this house. We were just really doing it. You were basically buying and selling any property you could get a hold of. How are you doing that? How are you financing it? Just talking the bank into it. The bankers were coming off of this high interest rate recessionary environment and they were, you know, they were getting back to lending mode again. And of course I grew up in Nashville. And so I knew in the real estate business and so I could walk in and have a conversation and say, hey, you know, I found this $150,000 house. I can buy it for 80. And they would put it on a 90 day note and I'd go in, you know, we'd run some paint carpet through it and flip the thing and make 40 or 50,000 bucks on it. Wow. So this really was taking off, I guess. I mean, you were going to these small banks and you had a relationship with them. You could get the financing or you get the money for 90 days or whatever it was. But then the clock starts ticking, right? The pressure's on. You got to put carpet down, paint the house, get it on the market and sell it, and then pay the loan back. And hopefully make some profit. Exactly. And how did you do? We did very well. By the time I was 24, 25 right in there, I made 250,000 a year cash taxable profit. And so I was cooking. And we kept a bunch of the properties as we went along, not a bunch of them, but enough of them that we ended up with about $4 million worth. Some of that $4 million worth of stuff in process for a flip. Sure. This was all in the Nashville area, most of the properties. Yeah. And at the time, I mean, natural obviously a hugely high market today. At the time, the mid 80s was Nashville, a hot market. No, it was a medium. It was just a medium sized southern city at that point. I mean, we didn't have the food scene, the hipster base, the stuff we've got now. There's this place, it's on fire. Yeah. So tech quarter now for goodness sakes. All right, so you build up a portfolio worth more than $4 million by 86, you're like 25, 26 years old. Did you just think that you were a genius at that point in your life? Yeah, 'cause I was that stupid. And arrogant. Yeah, I'm driving a Jaguar. I thought I was something. Yeah, they actually wrote a little article about me in the newspaper and how smart golden child or whatever all this stuff. The young guy. The wonder kens, yeah. Yeah, that kind of stuff. And so we really thought we were a lot hotter stuff than we were. You just thought, look, this is fool proof. I've got this great system going. Meantime, a lot of that was accrued debt, right? You had to do a lot of debt at that point. Yeah, we had about $3 million worth of debt and $4 million in properties. So there's the $1 million net worth of difference. Right. But you were thinking, this is going to be fine because you can finance this through debt and you can eventually repay debt. And that's no problem. Well, I mean, I grew up in the real estate business and with finance professors teaching us the power of leverage and good debt and this is all good debt. They don't assets this turning into income and all this good debt good debt good debt that people, the pundits all throw their stuff around who haven't actually experienced it. But as Warren Buffett says, leverage is a cruel cruel item. It will suck you in. And whoo you, and then it will cut you. Yeah. Well, this would have obviously transformational effect on your life as somebody who really does not like debt. But
Christian Watson Explains How American Express Has Gone Woke
"American Express card holder for about 25 years. In fact, my friend Dave Ramsey gives me all kinds of grief because I've got one of those black cards, those centurion card and Dave says that's the biggest waste of money. I spend a lot of money to have it. I get some perks with it. You know, you get upgrades and all kinds of nifty little stuff. American Express has been sort of the gold standard for business executives and for people in the workforce and just I taught my kids when they became adults, get an American Express card. You got to pay it off every month. You get a good helps your credit score. It helps your credit standing. American Express has gone woke. First of all, tell us what American Express did that got the attention of a terrific organization like color us united. They done many things, unfortunately, and it's really unfortunate that corporate America as a whole is going down this path. So American Express had their employees go ahead and sit in to a seminar given by Khalid Muhammad, the great grandson of the founder of the Nation of Islam. Elijah Muhammad, in which he instructed them to believe that capitalism is evil and racist. And that they have a goal. They have a duty rather to go ahead and get rid of its evils and racism, which is a little bit odd that a company founded on capitalism is bad enough in it. They released a document called building allyship in which their employees were pitted against each other on the basis of their identity and their individual characteristics. And some employees who were not considered to be privileged were given precedence over employees who are considered to be privileged. There's one part in that building allyship document that actually says that it gives an example of an Asian woman not feeling represented in a Zoom call and basically says that an Asian woman or a black woman or whatever woman on the basis of their skin colors wants to speak. You should just be quiet and don't speak up or against them or don't say anything about what they have to say. So this is a kind of inversion of what America is all about.
2 Pilots Injured After a Military Aircraft Crashes in Lake Worth, Texas
"dave ramsey" Discussed on The Dave Ramsey Show
"In alabama my wife and i have two sides to our business one is catering in the other is full service restaurant. We started these businesses three years ago and they are debt-free with cova still prevalent. We have taken a significant hit with low. Sales supply chain issues and staffing problems. My wife ties her identity. And self worth to the success of this business. But i would be glad to close it down. She wants to take a loan to keep us. Afloat and i'm not in agreement with this plan should hold on and struggle and even go into debt. I know the is no. But how can i do my spouses against me and afraid of the future. Well there's a lot going on here a lot. I mean the obvious. Is you and your spouse needed. Golden state page regardless of what you do and you know adam that we're we're never going to tell you to take out a loan But even if you don't take out a loan and even regardless of what path you take with a business you still need to get on the same page with your spouse you and your wife page vision. Get to the root of what her fears are what she's struggling with and so on the other thing is just from a business standpoint. I can't help but want to dig into that and go okay. What's the real problem. Yeah you may be having some struggles in yes some of it is covert but is there a way to say okay. We're going to maybe shut down the restaurant go all in on catering or maybe we're going to downsize a little bit scaled back to where because we staffing issues we're gonna do. Just the pieces of we can do ourselves or yeah i i just i like to problem solve but sometimes when you're just sad or scared or overwhelmed It it feels bigger than it is. It feels more impossible than it is actually put that on instagram today. You know sometimes when you're overwhelmed. Things just feel bigger scarier and more impossible than they actually are. I wonder if some of these are not very fixable problems. Adam that if you could fix these problems the business could do better. The sales would improve. You don't have to take out a loan. Obviously which we're not gonna tell you to do and you and your spouse can on same page for the vision You know and obviously she didn't he doesn't need to be attached to it but as a business owner you know this day like you can't totally emotionally separate yourself from the success of the business because it is your baby. There's an aspect of it. That's that's healthy and then you don't want it to be will my sole source of identities. Here we know that. So it's a lot. It's a lot going on. I feel like in this question. You know it's unhealthy to not tie some of your identity and some of your Self worth to your business. Because you're putting yourself into it into completely detached from that. Make you a psychopath. You care and so you actually care about it. And it's it's my thing it's like something. I poured a lot into so it'd be unhealthy to do that. What i don't like hearing is she ties her identity and so forth to the success of the business. So what you have to do. Is you have to back yourself up and say okay. There are some things in this that i can control for those things. I'm going to time my some of my self worth and some of my identity to it. And i'm gonna get my budding gear and i'm gonna push stuff around and make it happen because i care right Then there's things you can't control you can't make people come to work in the restaurant business right now when they're being paid to sit at home by the stupid federal government everywhere you go high end low end restaurants and anything that service industry is struggling with labor shortage because they're sitting at home until the federal government stops that i mean that's just. That's not something you'd caused. So i'm not gonna if i'm you i'm not gonna go. Oh i did something wrong. I feel bad about me. I can't get labor and so we have to scale this back to the labor that i can get which is me and the right and and whatever else i mean. How many kids. we had. Whatever we're we're all going to be in here working. But i can't make anybody else work And i can't make a supply chain stuff. Be right right. i can't make. I mean we're we're fighting scratching these paper people. There's a paper shortage. Now get these books out. Your books are in coleman's book and we've got book scheduled for january. I'm buying paper form now. Because i know that we got a supply chain problem so but i can't say oh there's a paper shortage and so i feel bad about me. Northfield there paper shortage right now. I don't need to feel bad. nothing had do. My identity is not tired of that so the it gets real cliche but sometimes pieces of something after die for something to grow or even the whole thing dies for something to grow back where this much manure. There's plenty opportunity to grow. That's for sure. And we've had the same thing around here kiddo. I mean we've been pivoting so much. I feel like i'm just chasing a dog chasing its tail Changing stuff and moving things around how we deliver products and you know what a book tour used to look like what it looks like today. There's not one now we do it. All virtual Because the people in new york of lost their ever loving minds in the media world What they want us to like put our first born in a vault or something just to go see them and it's just like you. People are nuts. Forget it in so no. You're not going to extract my dna for me to come into your studio lost dadgum months so we have to. We have to adjust and pivot the whole thing and so I think that this is god whispering to your wife to get this business in. It's proper perspective within her psyche. Because it's gonna kill her if it succeeds and it owns her. It'll ride her into the grave if it fails and owns her. It'll rot her into the grave so she's got to get back on top of it and start owning it. There's nothing wrong. We're we're confirming that you should care deeply we're confirming that it should hurt your feelings that you that your business that you build his failing to do to nothing that you did wrong. I mean you got government. Interference you've got economic interference labor shortages and supply chain shortages. You did nothing wrong. It hurts your feelings and you agree that as bologna would say yeah and you know all of that is is normal but i think this is the opportunity to not take out a loan but instead to decide who owns what does the business on her she owned it and if she owns it she close part of it. I own this. I don't wanna close any out. It's hard open. But i will close it and then i'll still be here. I'll still be here..
"dave ramsey" Discussed on The Dave Ramsey Show
"Yes. That's how it's done. That is so cool. The house man. It gets me everytime we we are getting that more and more. You and i've talked about this. This is thirty years of teaching this stuff and it started. You're starting to see people baby steps kids and maybe some familiar people paying off the house. It's becoming more and more normal for people to be completely debt free. Which is pretty incredible. Well let's inject are typical number over the situation. We didn't ask them about it but it won't be far off nine years for sixty of that A little over three hundred was the house and so let's say it took them three years of the nine to get the other stuff done baby steps one through three debt free having emergency fund in place and maybe to your somewhere in there and then they've got six to seven years they got the house paid off it which is about typical also of people following the total money makeover baby steps do in financial peace university doing this kind of stuff they knock it out in about seven years and you're sitting there with half million dollar house and this is very typically what we find during that time from baby steps four five and six putting fifteen percent of your income away do that for seven years with matches and roths and good mutual funds and good rates of return And they're making really good. Money incomes are increasing during this time fifteen percent of that while paying extra on the house gets you to nest egg six hundred thousand with a paid for house of four hundred thousand. Those two things added together with one hundred percent. Debt-free equals one million dollars or greater net worth you are baby steps meaner. Yeah this is how it happens all the time. Yeah yeah. I i wonder how many people to our right at that babysit millionaire mark and they may not even realize it because their situation has changed just in the last three years even whether it's from their investments their retirement their home value. Go up they put them over the line and they don't even realize it and so it's just incredible how quickly that can change when you follow the baby steps while the number of people that aren't actually focusing on the number Instead they're just focusing on focusing doing the work the principal. Yeah and then they look up and go. Oh we did it lurk there it is and it just sneaks up on you the number times. I hear that as well is. It's pretty typical again for for a baby steps millionaire and we're finding these folks everywhere and we've known they were there and you're kinda did portions of the plan on their own but now after almost thirty years of being on the air. We've they followed us. We followed them all the way through where.
"dave ramsey" Discussed on The Dave Ramsey Show
"Correct in cash. We have a to between eighteen and twenty one time. You don't have a 401k in a bank. there's no such thing. I understand that we're in the process of moving the 401k's from one institution to the next. It's in a it's in the cash mode right now and then they're moving it so my maybe my description of that okay. I'm dizzy on. Here's what you need a day. I'll put you on hold on. We're gonna put you into financial patient. Versity the two of you go to financial patient versity. Both of you watch the lessons together and do exactly we tell you to do in that and stop all this other crap. You're driving me nuts. I mean you you. You've changed your tail six times in this one conversation so i thought you had fifty four thousand dollars in the bank. Why because you told me that and you don't have fifty four thousand dollars in the bank. Fifty four thousand ours in an ira rollover and over into mutual funds not over into another 401k. And you need to work and get yourself out of debt. Probably new sell the thirty three thousand dollar car. It sounds like you don't have the might pay it off if you don't pay it off. It needs to go by. And then we need an emergency fund of three to six months of expenses in addition to that on each of save some money to cover the down months when he's not working in then and only then do you start your retirement savings and then on contract labor you use a roth. Ira because he does not have a 401k. On contract labor you have a 401k. If you work for someone else or are self employed and you have a simple ira which is a 401k. For self employed people. That's the only thing you can do is something along those lines and sit down and talk with a smartvestor pro. They'll help you put all that together but they will not help you. Put all that together until you get out of debt and have an emergency fund in place. And you've got to do that before you do anything else. Do it in order and you're not have to start over so dadgum many times. That's what your face and the question was. Can we retire soon. No we've got gross mess up. You know what i mean. Money your fifty four thousand dollars your name. You can't retire you're working. Sorry you're working for a while. I mean you got thirty. Three thousand are card. Debt named close to retirement. You gotta get really car. You're working for a little while. The good news is he makes a power money. And if you stop just throwing this money and sixty three different directions get yourself cleaned up. Get that foundation late in place and then really you can follow up some a good pile of money retire fairly soon. If you're not going to retire this year you're broke you broke. You're not retarded. People try to do it out of order and they go well. Dave got understand my situation. We've got a lock on here. Yeah there is a lot going on. And that's why you need to follow this plan to a t. Because it works with no exception so hang on. Kelly pick-up pickup. We'll put you into ramsey plus membership and that'll get you guys into financial peace university and that's the shortest possible path. I know to get you alter retirement. Follow that exactly so georgia other thing. That comes up that Flashed through my head. I look at social media about once a month. And every time i do it's a mistake It's like reading comments after an article. You're reading and re comments cesspool. The comments are where the dumbest meanest humans on the planet live is in comments. You understand why some species eat their young and when you read comments and so social media especially twitter is about the same point these days and But this dave ramsey's one-size-fits-all Let me help you with this. There are some principles in life. There's some principles that you operate your life by. That one size does fiddle. That's why they call them principles. Tell the truth one-size-fits-all you ought to do. It ought to be truthful. Gotta have integrity the law of gravity one-size-fits-all everyone gets to play with equal rules. Those who follow a proven.
Mississippi Sending Support, Manpower to Louisiana in Ida's Aftermath
"Governor Tate Reeves, telling him to send what they were giving his state post Hurricane Ida. To Louisiana made the determination. Um, earlier this morning that we could release those federal assets today because so kindly stationed here because at that point, it was very clear and very evident that we could take care of ourselves. Louisiana Governor John Bel Edwards says the state's water systems have taken a hit 18 water system outages impacting more than 312,000 people. And 14. More water advisories impacting more than 329,000 State, also dealing with widespread power outages.
Larry Fitzgerald Doesn’t Have “The Urge to Play Right Now”
"An interview with Sirius, XM's Mad Dog Sports Radio channel. This is what wide receiver Larry Fitzgerald had to say about his future in the league for now would be a radio broadcaster, right? Not to be honest with you. I just don't I just don't have the urge to play right now. I don't know how I feel in September, October, November, moving four, but I just today I just I just don't have the urge. The 37 year old did not officially closed the door on returning to the league, but did say for now he does not plan to suit up this season. Fitzgerald has been leading the leading man for the Cardinals franchise. Over the last 17 seasons. He has led the league in receptions, twice recorded 9 1000 Yard seasons earned 11 Pro Bowl selections and an all pro selection.
6 People Dead, Including Suspect, in Shooting in UK
"England say six people were killed, including the suspect and what they're calling a serious firearms incident. But they say wasn't terror related, Devon and Cornwall police said in a statement. There were other people who were injured that they are receiving treatment.
Q&A: Should I Sell My House or Rent It Out?
"So About a year ago me and my wife had some stupid system. We've been married for about twenty minutes. Of course had to buy a house and we didn't have a whole lot of money for it so we didn't put twenty percent down. We put closer to five percent down and now we have a job offer about fifty sixty miles away. Certainly moving out of that house. And i'm wondering should be because i've been interested in real estate and property business because this is in a college town. Should i still kinda keep this house. Since he might be upside down. We tried to sell it while the fees included or should. I just try and throw as much money as i can to sell in providence. Profitable it yeah. Well it's not profit. It's just a matter of whether you write a check when you sell. It is all so get with one of our real estate. Lp's at ramsey solutions dot com. And find out what your reality is. This market is so hot. My guess is you're gonna get out of it that's my guess. And here's the thing. If you were living fifty miles away in working to new job you would not call me up and say. Hey dave i wanna buy a house fifty miles away with nothing down leverage it all the way up to what owes much on it as it's worth which means the rent is barely if at all going to cover the payment and so i really want to take on this liability fifty miles away. Nothing down by the way you wouldn't do that. that's effectively. What you got here house has got no equity in it and by the time you rent it for your barely going to cover the payment and by the time it's vacant a time or two and the heat and burps on you. You're gonna have a loss for the year. This thing is a problem. It is not a blessing. And i just heard the other day that they maybe today that they reinstated the mass mandate in california in someplace your one covert away. Your one tick uptick in numbers etc for colleges going back online and suddenly this thing. It feels like it's a sheer fire in college town. Not being so sure fire anymore. The guys i know with college real estate and it's not admittedly now lot. They're getting out. Just because it's so unsure uncertain.
Investors Dump Stocks, Buy Bonds as Virus Fears Flare Again
"A reopening economy like airlines are plummeting as new covid cases climb once again in the U. S, especially among unvaccinated Americans. Some investors today are buying government bonds, which are seen as a safe haven trade when stocks are falling. Oil prices are
"dave ramsey" Discussed on The Dave Ramsey Show
"As they do in the us with the exception of what you put your money into and baby step forward because obviously if a different retirement system but he's got access to a non percent rate of return fund. You're going to be judged fine. This is the ramsey show a our scripture today proverbs eighteen fifteen. The heart of the discerning acquires knowledge for the years of the wise. Seek it out. Brian herbert said the capacity to learn is a gift. The ability learn is a skill. The willingness to learn is a choice. That's a strong quote. I like that one. Mic is with us marines in california. Hi maria welcome to the dave ramsey. Show hi dave for taking my call. My honor what's up high. So i am twenty years old. I have about thirty thousand dollars in savings. And i just wanted to get your opinion on what i should do with that money whether that is putting putting it in a roth. Ira or Saving it for a down payment and the future For a house. Are you working in college. What are you doing yeah. I'm in college. I'm in my thirty years I i'll be graduating next may And i'm working part time with a degree in what and earth science comb and hopefully i I would've changed to a degree in geology. Very cool okay so What are you going to do for a living when you get your degree Well i'm thinking about going into Hydrogel doing working dot. Which is why. I want to target the Geology degree Right now. I'm doing an internship with the water district here in orange county So i'm getting the experience Bound need in the future within to ship. So yeah that's kind of what my goal is right now. Okay so when you finish all of this and you get the dream job. What does it pay. A hydro geologist gets paid. A you have to tell me. Yeah they get paid I think starting it's about eighty Eighty and then they go goes up to one hundred twenty along. Is it going to be before you complete this field of study Well if i if. I go the science on way. I think i'm not sell out like ninety. Which is one one doing next year. So if i do. Extreme england geology. I'll be graduating. May of twenty twenty three. And then i can I would have kind of a bigger paying brains on in the future Which would I think from what i've seen. It's about one hundred twenty two hundred eighty with the hydrology and take you an extra year. Yes kind of like doing grad work in a sense. But it's not really okay. No so the twenty thousand dollars. The best investment that maria can make mathematically is in this investment called maria completing that field of study completing that degree with what you just told me you're gonna make as a result is worth the investment of the dollars all lot more than a mutual fund. Or roth ira ever pay you so i want every dollar. You've got committed to you graduating and you graduating debt free as soon as possible and pursuing that line of income that you're telling me you can make every dollar. Maria is the best investment. maria has possible. Because you've chosen field of study. That's not left handed puppetry. You actually can do something with it and you figured out what that is and you know you didn't hesitate when i asked you what the career field looked like. And how what you would be. You already know this is not a pipe dream. You've got this studied you. You've thought this through working in it right now planet. You're working the intern. You're doing everything right. you know. Thank you. Yeah i also. I forgot to mention Third my my expense guessing initial aid. So i basically everything's coverage which is why i didn't know when he if you've got a honey if you save up.
One Minute Leadership Thought of the Day: How Can You Get More Time?
"How can you get more time. Welcome today's leadership thought of the day brought to either leadership lifestyle. podcast time. This is something that everybody struggles with. Everybody wants more oven. You can't make more of it. You can only use it effectively so when i think about time i often think about dave ramsey the financial grew. And how he assigns a dollar to every name before the month begins before it spent before the income starts coming in. It's already assigned where it's going and you already feel like you've gotten a raised just by doing that. Well what if you did that with time. Really assign your hours of the day not being awake more not lack asleep but really aside even in your personal time is nurseries at sounds but just to get more time or you more productive time to get things done you wanna do and start doing some other things. Maybe you're not doing and get rid of some of those things are just wasting your time and not moving you forward so look at time. Like dave ramsey looks at money. Today's leadership thought of the day brought to leadership lifestyle. Podcast grow yourself just a little bit
Q&A: Should I Invest in Real Estate or Pay Off Student Loans?
"Question comes from my instagram. Actually it was a dm. I received from. Benjamin says hey actually recent follower of real estate rookie podcast in love the content you guys produce aim just getting my feet wet learning about the real estate mental game. I know you've mentioned subscribing to the dave ramsey school of thought in some ways on the podcast. I wanted to get your thoughts on the idea of starting investing in properties while you still have a fairly substantial amount on student loan debt. My wife and i are both in the medical field and have good salaries. But i don't want to wait another five to seven years until i can pay off. Student loan debt to get involved with passive cash for rentals. Just wanted to get your thoughts on the matter. Thanks what do you think. Tony rose name or the ben been. This is a deeply kind of personal decision to make because the idea of debts and investing. It's kind of a kind of a polarizing topic. I can share with you. What my story was we. In comparison to the income that we have our w jobs. Our debt was a relatively small percentage. In comparison to the amount of money that we had saved up we could have easily paid off all of our debts with the money that we had our savings account and in stock market. We chose to focus on the high interest debt so we paid off most of our credit card debt. We decided to leave our car loans and our student loan debt because both of those relatively low interest rates where i like you know i think our car payments like three percent or something like that so for us. We made the decision that we could either pay off that debt it's only costing us three percent and interest or we could use those funds to garden bind restaurant properties do four or five ten x that so we made the decision. Say okay. we're comfortable with the small amount of debt because again in relation to our total income. It's not ruining us financially. Rats not preventing us for moving forward but we want to put this morning to work and our investments. I think if we were in a position where we didn't have a good amount of money saved up or our debt load in relation to our income was really tight right. There wasn't a lot of space there. The maybe i would put a little bit more focused on paying down that debt. So i think it'd be really personal. Decision been based on a lot of factors that. Unless you're sitting down together really getting deepens have bins personal finances might be hard to give you a solid answer.
"dave ramsey" Discussed on The Dave Ramsey Show
"I believe it's a law. I've experienced its effects correct and if my three year old grandchild wants to do something that's going to put him at risk. I'm not gonna go. We'll try that flying thing and see how it works. Just jump off a two story building and see how that works out for you. I'm going to stop him from doing it. Because i'm because i love him and it's going to hurt him you know it's a law. It's a principal. And i'm not agnostic. But the three year old grandchild in their ignorance may be agnostic to they. Don't give a rip about the law gravity because they don't understand it. S- affects yet. And so this is. You have to adhere to principles in order to coach and so when you're a financial coach you've got to have your firm principles. This is the way. I teach how to be financially successful. And if it's not a fit for you that's fine because listen if you wanna leverage if you're about nothing down real state and you wanna leverage and go up your eyeballs in debt and buy everything in sight and not think anything about debt and the risk associated with it and you don't think that is bad you should see my good friend robert kiyosaki. He can help you with that and robert and our friends. He's a great guy. He and i completely disagree on this. And he's not agnostic about it either by the way he's family believes it's the best way to build wealth and i firmly believe it's not and but we're still friends we don't disrespect each other and anything like that but you know if you wanna buy nothing down real estate. You don't need to call dave ramsey. He's not going to help you with it. You need to call robert. He'll help you with it. And so i'm not a fit for everyone. If you wanna be a bitcoin billionaire you don't need to call me. Because i'm gonna tell you bitcoin stupid. Don't do it. And you know which i need to say that leash once today because it keeps the internet really buzzing. I'm happy to say more. Say the better. It goes the better. The better. The social media people to the bitcoin corn warriors. It's my favorite thing to stir up since the gold bugs. It will start go people. But anyway i don't believe in buying gold either there's some pistols guys. I don't believe in buying whole life life insurance pistols ghazal. I don't believe in bonn a car on debt ever under. I'd ride a bicycle. Wait a minute. Do you.
"dave ramsey" Discussed on The Dave Ramsey Show
"How can we help. Oh i didn't know Dr john was going to be on the show with you today. Otherwise i would have revamped my question but the question i called in about was. I'm taking the financial coach master trainer course and obviously everybody. It doesn't follow the dave ramsey. Plan that that free plan. So how do i coach somebody. Obviously with the goal. In mind that i'm going to try and make them or have been come to the conclusion that the debt free lifestyle is is the best way to do it. But it's there insistent upon credit score and credit cards. How do i coach them to do the wrong thing. Especially i guess. I don't really understand the question. You're saying it you you're a financial you're gone through our financial coach master training and someone's going to come in and pay you for financial coaching and they don't want to follow your advice. Not exactly just along along the lines of well. That's that's exactly if you're going to teach your advice is don't build a credit score and your advice is don't use debt but they're bound and determined to do it. How do you coach them. The answer is you can't fire your client. You move on. Same thing in counseling. If you're making recommendations in your marriage counselor and the husband is sleeping around on his wife and you say do you you. You gotta stop that. That doesn't work in marriage. And he says oh. But that's what i believe. I believe it's okay and you go. I can't help them not a good idea. Yeah i'm not a good fit for you. Yeah you're gonna go find someone else. That has a different belief system level. But i get i get the reference So i would just not coach somebody like that but then that would take away from possible income on my side. No it won't because if you coach people to do stupid stuff you're not going to get new clients. You wanna teach someone to do the wrong thing efficiently. Yeah i think back to your question. Rather i guess i guess that makes sense. Yeah because here's the thing going to get out on you that that you're coaching people to do the wrong thing. Well jake. it sounds like you don't believe it. Do you believe in no. I believe in the debt. Free lifestyle my wife. And i are on baby step two and we're getting ready to pay off our debt. Come october I got a free. Listen i got a friend at least a car okay. He's a friend of mine but he did a stupid thing at least a car. Okay but he you know he can't come up to me then and go i. I'm not gonna go well. Here's the best way to lease a car. I must say. Don't lisa car. so guess what. He didn't ask me because he knew what i was gonna say not. Everybody initially comes into coaching thinking. Oh i'm gonna get three. Obviously that's something. We want to leave them to on their own to make that decision based off of information that we give them but exactly but in the meantime how do i in the meantime you continue to say. This is what you need to do. Yeah don't use that. I'm not going to teach you how to use that. It's like someone calling me on the radio and saying how can i build my credit score. I'm not going to assist them in doing that. Although i know how to assist them in doing that but i don't believe it's good for them and so i'm going to say i can't help you with that what i can help you with. Is that here. Here's the reasoning. Why you don't need to build your credit score.
"dave ramsey" Discussed on The Dave Ramsey Show
"Surely i have a delightful inheritance charles. Kettering said every father should remember that one day his son will follow his example. Not his advice job kettering they will watch everything you do and do it perfectly. Yep they won't listen to you but they will watch you. You don't believe me. Try opening your mouth in one of your parents comes out. Oh trust happening. I got an eleven year old and a five year old dave. I hear it in. He'd have to look over your shoulder as my old man is he my dad here. Just come out. We're dot com from. And then i watch my son make the same face i made. I could feel it like man living in the matrix so bizarre rachel says moore's caught than taught. It's so true you want your children to be good with money. I me teach you how to do that. You be good with money. It's so much easier just to tell them stuff dave and do it in front of them. Don't hide it. Don't hide all of your money secrets because they're not really secrets after all. Hey while we're on that topic let me ask you this. What's what is the rule of thumb. You've experienced over the years telling kids your salary. Because i really like heaven especially my eleven year old down there watching us do the budget and watching. 'cause i want him to have an understanding here so much. Electricity costs and water costs. And those kind of things but also just have an innate fear for running around school saying hey what is your parents. Make my parents. You know what i mean. Yeah i you know. I shared all the expenses. But i never shared the income. Okay until they were eighteen okay until they were in college or whatever that they knew we were doing. Okay yeah no kind of thing. But they I didn't but we were also trying to protect our kids from the celebrity crap as well right. You know the the Because we were trying to make sure they don't play the dave card at school to try to get some kind of favor right now or something. My dad's dave ramsey that kind of boca raton and show. You just gotta step on that with a big foot. And so truthfully none of them ever did it. Much except rachel. I think my son lies about his last name. And no it's deadly. I'm not that guy right. Well yeah and there's some of that. I mean because there's two sides to that part right. I mean a lot of french guys right. Try being in financial a personal finance class in college. And your dad's name..
Q&A - Should I Invest in Work Pension?
"Michael's with us in wisconsin. I'm michael how are you dave again. Just a quick question for you. I we salute you. All about a year ago left my job and punching their concert system. It's a four one. Eight plan is about sixty thousand dollars in it. You know you always recommend to roll that over when you leave or personal. I'm wondering if i should do that in leaving that plan. You lose the employer contributions which is about fifty percent so that'd be thirty thousand dollars. I'm wondering what the best movies i let it. Sit and exit. When i'm able to and the eligible to what you've aged fifty or and thirty years old and Or do i take that out and take a loss. Bested the 401k planet year old company does not vast. You're matching until you're fifty. It's a four one. Is you know but that just means after taxes. All that means Yeh don't vast. you're matching true. Yes correct that's asinine okay And it's how much money sixty thousand. That's the match portion Thirty thousand monday's okay. And how what's it invested in. I truly did. Oh jeez i don't even know what the breakdown is. They are pretty limited on what you don't get to choose your investments in that plan. Yeah how old are you the ones in thirty. But you don't get to choose the investments in your plan. Negative a state okay. Here's what's running through my head and then you can decide what you wanna do your hold now again. Thirty thirty thirty years old okay. So for twenty years you either are going to have thirty thousand dollars. Sixty thousand dollars underperforming sucking sixty thousand. Or you're going to have thirty thousand performing well. Yeah in good mutual fund about you were gonna go and i don't know which one's going to end up with more money is the only way i said do. The thirty thousand will double if you've got it invested at ten percent if you re if your mutual funds perform a ten percent which they should i will double about every seven years and so it would double three times twenty years twenty one years so it would go from thirty to sixty two Okay i can do this. Wait a minute it'll go from Thirty to sixty two one. Twenty two to forty okay. That'll be you're thirty thousand double three times one. Two three tops. That's okay now sixty. Let's say it's making you ain't at cast. What the stupid things making. I would guess i. I've looked at the evidence over the course of the last say forty years parole together. I think i came out with like a southern eight percent average so seven percent. It'll double every ten years. Okay so sixty would be one twenty would be to forty. It's exactly the same. Yeah okay. you're thirty will grow to as much as that. Sixty will grow if you invest it at ten percent greater versus seven
The Best Way to Run a Family Business With Business Coach Dave Ramsey
"So it sounds like there's a foundation that needs to be laid out and you've really laid out three phases to family business and you talked about this at our entreleadership master series. We did a whole day on family. Business and people were going crazy for it because it turns out a lot of listeners are in family business. So i want you to walk through those phases of before you get into family business during and after the succession plan so walk us through the first phase before you get into business. What are the things you need in place. What are the conversations you need to have what are the prerequisites you need to put in place. Well one is that in a sense when you're raising your children you're raising them to be great team members. Great employs wherever they go be. Honest have good communication skills to have great work ethic and those kinds of things so it's the ultimate training program for your employees. Your home for your children right and so if you raise children that have those skills. That's your prep work. And so if you've got a sixteen year old that's an entitled brat. Then guess what they're going to be when twenty six year old on your team entitled titled brat You know and it's a problem so you've got to kind of get the home life thing going. The parenting thing going Way way in advance. That's the ultimate pre planning for family business so it starts when the child is born three years old walking around. How how are you going to allow them to behave you know and so forth. So because that's how they're going to behave wherever they work whether it be at the family business or not and then once they leave that and they become adults and they're going to consider whether join the family business I've had friends that had family businesses and friends that are second and third generation family businesses. That they really weren't hardly given a choice. Just told if it'd be working here it's like part of what our family does. It was and psychological. You that's really a bad idea spiritually. It's a bad idea because you can be really trying to put a square peg round hole and just because they have your name after them you can really do damage to the organization and to the person so we told our three kids. Don't come to work at ramsey. Don't unless god calls you.
How To Handle Combining Finances With Your Spouse?
"Is a really good question that we have here so this. This woman's said our money is all in one account. Now that's weird and we've been arguing about how to spend it. We have some debt. And i think we should pay off as quick as quickly as possible but he wants to put more money in different places. How did you guys handle combining your finances and this is such. A good question isn't finances over like one of the main things that couples fight about right. Yeah you've got sit down and create a budget like the budget help. Give you argue about what things should wear. And how but like you have to sit down and agree upon a framework and they are thousand tools to help you do that. Amy huge dave ramsey fan. I know steph has had rachel cruze daughter on the show. And i'm sure she talks through how to even do that. Lake may not my number one piece of advice. Get a budget
Dave Ramsey vs EXP Realty
"Versus exp and then in men kind of run flee refers to Ramsey company is a coaching company, which it's not. It's basically for the sake of the ELP program. It's a lead selling company. We again, we talked about this yesterday but anyway, in man comes around there, you know, figures the soldier out there, writing this article. It's basically what we talked to you guys about yesterday. There's no real new information as far as the who's in the what's in the wise. But I will tell you what really is surprising to me. As I read this article wage, That Dave Ramsey and I already knew this obviously but they just summarily said we're not doing business with the XP agents any more. Not exp did not have any sort of Enterprise corporate level relationship with Dave Ramsey. Dave basically decided to just sort of get rid of his his I'm sorry, his exp agents no matter how well they've been performing as an ELP and this, obviously, it just seems to be really bizarre. I mean, why would he just summarily get rid of all the EXP agents that are even the most successful in this e l p program? If his whole point of his e l p program is to provide the best service for His Radio listeners in his book purchasers and all the people that follow us advice, I mean ultimately when you and it's fascinating again as you read this article, especially the comments on em and it's really fascinating how far out of Integrity. A lot of agents are perceiving Dave Ramsey to be especially when it's routed back to his Christian values that he definitely leads with wage. And again, if you haven't read this article, definitely read it's called Ramsay versus exp. But I'll tell you, the real punch line here is there's, it looks like there was only a couple of hundred maybe maybe three hundred maximum exp agents off of the ELP program, you know, 57,000 exp agent. So this really is just barely a blip on the radar. But really, I enjoyed reading and I was I was honestly proud of all the agents that were, the agents are interviewed and it was Agents from all different brokerages as agents from all different brands. It wasn't just a bunch of exp ages piling on trying to defend exp, wasn't even mad at all.
7 Members of a Maryland High School Class of 1969 Will Get Their High School Diplomas
"Seven students from High school in Maryland, who were denied their high school diplomas more than 50 years ago, well now officially get their degrees. The group protested the selection of school dance teams back in 1969 when no black students were chosen. Protests grew as leaders met with the superintendent. This is CBS News.
White House Looks to Bipartisan Group to Pick up Work on Infrastructure
"An announcement that talks between the White House and GOP Senator Shelley Moore, capital on infrastructure faltered, a bipartisan group of 10 senators met for just under three hours this evening to attempt to hash out a new bipartisan agreement. Following the meeting, Senators projected optimism such as Republican Lisa Murkowski very good discussion and worked through a lot of different issues and We're making presents. The members said they intend to continue meeting Wednesday aimed at sharing their ideas with a broader group of senators.
"dave ramsey" Discussed on The Dave Ramsey Show
"Very possible. Something for you guys to think about out there. So this is how this stuff works out here when deal with these multibillion dollar companies multibillion dollar companies will put failed sideline reporters from inside edition on you and on timeshare exit team and put dave ramsey up. As if he somehow indoor somebody he shouldn't have endorsed worse. Timeshare exit team perfect. Absolutely not absolutely not. They took on too much business. They couldn't return everybody's phone calls. They did not do a stellar job and we talked about it several times. We were trying to work with them and try and work their way through it but basically they have been hammered now by legal fees and they can no longer afford to beyond the dave ramsey. Show to provide the service to get you people out of a timeshare. 'cause you're spending all of their bandwidth fighting with these bozos people like david segal and the princess of versailles right. Oh my god. Are mikey flashy who just got. I don't know how much money from this hilton sale. Diamond bought by hilton hilton. You have a real problem. You've just damaged your brand. You took on one of the most grotesque brands in all of timeshare one of the most horrendous group of people lack of character anywhere and you made them part of hilton. You guys really just screwed up and you gave them one point four billion dollars and they screw people left and right every day. There's comments all over the internet. That the attorney general shuts them down gets an eight hundred thousand dollar fine against them in the in in the state of arizona and we just heard several diamond testimonies here on the air from people who tried to deal with diamond. Screw by diamond or any of these other things. So this is how this works you.
Milwaukee's Electric Scooter Season Begins
"Streets this summer as the city's Department of Public Works tries to implement more transportation options. The return as some riders excited after last year's hiatus. I think that this is such a good, more fun concept than just a bike, but they acknowledge those who aren't following the rules can create headaches. Don't put in alleyway. Don't do it here. But there's no consequences as you wouldn't know who put it there kind of things. Study runs until November, 15th in downtown Milwaukee. Tony Braddock WTMJ news. In
NC Senators Tell Governor to Drop Federal Unemployment Benefits
"dave ramsey" Discussed on The Money Advantage Podcast
"Is this could actually do over-funded policy so right away There was two flags in that one. Is that david. Didn't think that any north western of prudential person could be a cfp or a certified financial planner or even an investment advisor. And the other thing was he called prudential. A mutual company prudential's no longer a mutual company. Prudential is a stock company. Let's go hendrix. I was gonna go line by because there are a lot of things that we're kind of built into this conversation but you are saying prudential mutual. It was just another thing that he didn't. I mean that's just a fact that he got wrong. Yes so go. Go ahead with the next. The next that's awesome. So i thought it was very interesting here. I like all the comments that you made about what the guy was trying to accomplish. will will cover that a little bit later as well. So first dave start out saying he selling dividend and then he said this is an insurance advisor not a financial adviser and so i just wanted to comment on. That says you already have done very well that we are both in the money advantage. You have access to both through the money advantage. And lots of people are financial advisers as well as insurance advisers and because somebody is able to sell insurance does not mean they are not able to sell investments. It is a licensor and somebody can hold both licenses so then Yes so he goes through. This was really interesting. I'm going to kind of read the comments about the mutual and stock company that he said. And let's talk about what that means. So these are dave's words quoting. He said in a mutual company he said there's two types of insurance companies mutual and stock company's stock companies the stockholders own the insurance company and mutual companies the policy holders are the stockholders when the company makes a profit policyholders receive a dividend as if there were stockholder and receive a dividend that is factual and that is accurate. Now these are dave's words again. Follow the matthew. If you're the owner of the company and you're also the customer of the company and the only place the company gets money is from the customers that are owners and they give you money from profit by definition that means because they took too much from you as a customer. There wouldn't have been prophet otherwise end quote. That was dave ramsey's words let's talk about. Where does the life insurance company actually get their profit from. Because it's much more than premiums paid into the insurance company right. And he at he is. He is correct when he says that. Seventy seven to the irs. Tax code does not Tax dividends and it is inert inner consideration and overpayment of of premium..
"dave ramsey" Discussed on KTAR 92.3FM
"Dave Ramsey Show on Katie. Our news. If it was how to pin it. Jail along like O e mean you're gonna watch part of being a grown up and you're gonna watch people that you love in your family and outside your family people that you love. Do things that are harmful to themselves, and you really can't do squat about it. It's just hard. Yeah, it's hard watching your friends drive their car right towards the wall. It is. It's hard watching your friends hit the wall. It is our family members, you know, and you go. There's a wall. I know, but it's fun. E think the part for me Davis is hard up front. But after I've said, my piece is not hard, you gotta walk. Then you gotta be. You cannot be. It's not a crusade. It's five questions. And it's short and it's very clear. Don't sugarcoat it and don't turning into a preaching session. That's good. You're not there to preach. You're there to ask questions. And that she should be asking herself and you're just clarifying. And you're saying Okay? It sounds to me like you're going to go forward with this and I'll just tell you I'm gonna pray for you because I'm really concerned and then you just walk. Away from the subject and you can stay in her life. But she's not translation. Those my grandmother's say, those convinced against their will, or of the same opinion Still, yeah, and I was on this show people call in and after the third time They want to argue with the same advice that I've given for 30 years..