When Are You Gonna Get Sick and Tired of Being Broke?

Linda is in Miami. Hi, Linda. Welcome to the Ramsey Show.

So, this is not okay with me for several reasons, you know, financial boundaries, home dynamics, etc. So, I don't know what to do. I mean, I feel really bad. She's my sister. I have an extra bedroom, but I don't really have the space.

or, you know, I'm in debt myself, so I can't take on another person, and so I'm just calling to get your advice.

. Yes. I thought you were going to say 19.. So, why can't she perform at work at 59 years old?

And so, you and I both know that loving her well is not allowing her to continue on the path that she's on, instead, make her face down these demons and turn the corner on them, right?

You have refused to address your lack of motivation, your painkiller addiction, and your weight, and you need to address those things, and you can't hide in my spare bedroom and not address them, because I love you so much.

I was wrong. It's your house, okay, and your mother's. You and your mother, own it together. Your sister is not on the deed. Correct.

Okay. Then, she doesn't have any rights. Okay. Morally, legally, ethically, emotionally, nothing. Okay.

Now, the instant that your mother passes, you will be selling this house, because you're going to be required to otherwise own half of it with said sister, and that ain't going to play on either.

So, I think the first principle is people who don't respect your boundaries are always upset when you put a boundary in place.

Right.

You just always expect it. Rule number two, enablers are nice people that give drunks alcohol. Right. Because they are too sweet to say no. But it's not real love.

Real love is, I want you to have a better life, my sister. Okay. Living in this bedroom, hiding from reality, continuing to spiral downward, is not good for you. I love you too much to let you live here. This is not about you in this discussion, Linda.

It's about her. I agree. You care too much about her to give a drunk a drink. Yeah. That's true.

You continue in a lazy, unmotivated, painkiller, addicted, obese manner.

Right. None of these things are good for you, sweetie. I love you too much. You're not addressing the stuff in your life, and I'm not going to go there. What do you got, Ken?

And Dave's right. That's going to happen. But I think you have to choose between the two evils. And her being in your house is way more evil than you telling her, grow up, sis.

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Ken Coleman, Ramsey personality, is my co-host today. Thank you for joining us, America. We're so glad you're here. Open phones at 888-825-5225.. Well, we are in a couple of weeks here.

on the 21st and 22nd. George Camel and I will be doing Dave Ramsey's Investing Essentials. We're going to go in-depth into investing beyond the baby steps, detailed investing. People have asked many years, what do you do when you get past 101 and you go to 201, 301, and graduate school investing? What do you do?

What do the people do that have a $10 million net worth or greater? What do they do? How do they think? And we're going to go into it. And I'm actually going to open my personal playbook, how I analyze a piece of real estate before I buy it, and how I make a decision on an investment, and what are the principles I use.

And they're also the principles I've taught you guys. So we'll cover the basics real quick, and then we're going to go into in-depth stuff. And this is an online virtual event. I'm doing it two nights. It is two different lessons.

So you're going to be involved in front of your computer or television, or however you're going to do it two nights in a row, May 21 and 22. And it's something you ask for a deeper dive. You want to know how I do it, and this is it. So tickets are $249.. It's ramsysolutions.com slash events.

Over 2,000 folks have already signed up. It's a huge event. And we're really, really excited to get to do this for you guys. I was polishing some of the content with the content team this morning, and really starting to build out some of the slides and some of the examples. It's stuff I've never taught before in public.

And my boyfriend of two years recently just moved in in January. And things have been going fantastic. However, we are looking at purchasing a home. And we're just trying to figure out how to navigate that. So, because I don't have debt.

. And it's about $250,000 for renovations.

There's absolutely zero need for your boyfriend to be involved.

Legally or financially. If he wants to be involved, legally or financially, he needs to be a husband.

Okay. You do this deal because it's a good deal for you. He moved in three weeks ago. He does not get to own the house.

You sell a 600,000-square-foot house, you end up in a 400,000-square-foot house. I mean, $600,000 house, you end up in a $400,000 house. You can do this if he's not there. And you need to do this by yourself, or you need to be married, one or the two. Because here's what happens.

You split up. Now you've got to tear all this apart. And guess what? You're going to end up selling this house and moving again. Just to get the mess cleaned up, because you formed a partnership legally.

It's a disaster.

What does that look like? What is your suggestion with that?

It's ours. But until you're married, you have a roommate.

Okay. And that's why it's not recommended, because it's very difficult to navigate emotionally, relationally, and everything else. The number of couples that far exceed,

the couples that are married financially, the data tells us, the actual research tells us, the couples that are married far exceed, in their wealth building and their careers, the couples that are shacking up. The numbers are undeniable. There's no question about it. And yet, today in America, more people live together that aren't married than are. So there's more shack-ups than marriages in America today.

And yet, the data is crystal clear that those of us that are married, we have what's called, and the statisticians call it, the marriage advantage, in that we outpace in our incomes and we outpace in our wealth building those that aren't married and shack-up. And so there's just no reason to do this. I mean, either get married or don't. Painter, get off the ladder. But if you're going to do it, you've just got to figure out the terms of being a roommate.

But please, God, don't put him on the deed, and don't let him put $100,000 into this deal to get this master bedroom added on and all that crap. Then you've got to figure out how to give him his money back when he decides he likes somebody else. or, oh, it's a painful mess. And so, yeah.

You're a mature woman who's in good financial stead. I just don't know why you'd even take this on. I think it's creating unnecessary relationship risk. That's what I think.

inside of these things. People have all kinds of different models, and some of them are more successful at it than others. And then number three, the marriage advantage in the statistics is something to seriously consider. And so we always are big fans of marriage around here, because it's what's good for you. And we love you guys.

We want you to win. It's that simple. This is the Ramsey Show.

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Ken Coleman, Ramsey Personality, is my co-host today in the lobby of Ramsey Solutions on the debt-free stage. Mark and Kelly are with us. Hey, guys, how are you? Hey, guys. Good.

Good, good. Where do you guys live? Fort Collins, Colorado. Oh, fun. Very cool.

Well, welcome to Nashville. All right, and how much debt have you guys paid off?

$305,084.

. Wow, very good. And your range of income during that time? About $145,000 to $300,000.. Okay, cool.

Good for you. What do you guys do for a living? Well, I was a general contractor and just switched careers to a business consultant. And I am an environmental scientist with a large environmental consulting company. Wow, very cool.

And what kind of debt? was the $305,000? for seven years? It was our mortgage. Look at that, weird people!

We've been waiting a long time for you guys to call us that. That's right. I like it. How old are you, weirdos? 47..

47.

. And you have a paid-for house in Fort Collins, Colorado. We do. That is worth what? $675,000..

I love it. And how much? in your nest egg, in your 401ks and stuff? About $750,000.. Ah, look at you, Baby Steps, Millionaires.

Way to go, man. It's so weird to say, isn't it? It feels incredible. You don't look like a millionaire. You don't feel like a millionaire, but you're a millionaire.

That's right. Way to go, man. That's right. Way to go. That's so cool.

Good for you. Good for you. So, seven years you've been working on paying off your mortgage. Tell us the whole story. How did you get engaged in this Ramsey stuff?

Dave, Ken, 2010,. I hit a low point. I was recently divorced. I was a single dad of a two-year-old, renting a small condo, and I took my daughter to this neighborhood park with these cute houses around it, and there was a real estate sign for one of them. One of them was on sale, for sale.

I read the sign, looked at the price, and it just hit me that with all my debt, I think I was about $70,000 in debt, I am never going to afford this. And I just felt so terrible about myself at that moment. I went home, felt sorry for myself for a few days, and decided a few days later, before I even heard of you guys, I was never going to borrow money again. I was done with debt. I was going to pay it all off and do it a different way.

About three months later, my church is doing FPU. I didn't want to pay the $100 because I was so focused on paying off my debt, and the facilitator scholarshipped me in and just made me promise that I would help facilitate a future class. So when I got in the class, I was just ready to go. I was primed. Wow, you were already going.

Everything you guys were saying, I was just ready for. All we did was tune up this engine, and it was already going. That's right, that's right. So I was single at the time, and then I met this wonderful woman. We got married, and then….

Yeah, it didn't take much for me to get on board. I always thought I was good with money because I had a good credit score and I paid all my bills on time. But it wasn't until he kind of introduced me to the Baby Steps and all the Dave Ramsey material that I was like, oh wait, here's a path to do more. I had never even dreamed that you could have a paid-off house at our age. That wasn't even in my mind.

I thought, if you paid your bills on time and had a few thousand dollars in savings, you were like living the dream.

Then we bought a really nice car. When we bought that car with cash and we had this thing, that's the moment that I knew we can do anything. We set this goal and said we're going to go after it. Is that the picture of the Dodge Ram that we just saw on YouTube? That's the new one.

Oh, that's what you just got. We just got that this weekend. That's how you celebrate it. That's right. That's brand new.

Brand new to us. It's not new. No. You're millionaires and you can get one if you want. We're still cheap.

Very gently used. We're easing into the. That's a great way to celebrate. paying off your house. Buy a truck.

That's right. Dodge Ram appreciates the free commercial. That's right. I would like to back up and just say when we first got married, we paid off the $40,000.. Then we were newlyweds and we wanted to expand our family, and it wasn't happening.

Two and a half years later, we were like, okay, maybe we're not going to have a family. But then we decided to do IVF. Because we had been diligent with our finances and we had paid off all of that consumer debt, we had the cash saved up to do it. It was such a blessing to not have to decide between expanding our family and paying off debt. It just felt like once we committed and we took all the right steps, the blessings abounded.

We were generous through the whole seven years and things just fell into place. When we were doing the right steps and we were taking it seriously, things worked out every time. They flipped the picture on and then back off. How many people in the family now? How many kids?

Five. Five? I'm sorry. Five of us. Yeah.

Three kids, five of us in the family. And yours from before is one of them. Right. Yes. Our middle is his daughter.

And then we have a 19-year-old daughter we were blessed with through foster care. And we have our six-year-old son that we had together. I love it. Okay. I'm catching on.

Okay. Now I see it. All right. Wow. Way to go, guys.

So I think this is an important thing to just stop and say, if you're out there listening and you're sitting in a park with your two-year-old looking at a house you can't afford across the street that just went up for sale, that was 2010.

. This is 15 years later. You're worth $1.7, $1.5 million and 100% debt free, happily married, kids everywhere. So that hopeless person sitting there after a divorce, beating themselves up, 15 years from now, you could be these guys. Yeah.

I mean, this is a complete story right here. This is a full story arc from the bottom up. Can I add just a little bit to it? Yeah. So, I come from an immigrant family.

I was born in Russia. We came to the United States in 1981.. And I might get a little sappy. I'm not a crier, but I might cry up here. Guys, my family worked so hard, you know, coming to this country with absolutely nothing.

And all they wanted for us was, you know, for us kids to have a better life. And I had messed that up so bad, you know, and realized that in 2010.. So, to be here on the other side of all that, and, you know, my dad died young. He ended up developing mental illness. Sorry, guys.

And, you know, just to tell my parents and my dad, in heaven, you know, that we did this. And thank you so, so much for all the sacrifices that you guys did for us. And we just hope we've made you proud. You have. You're heroes, man.

You did it. We're so proud of you. Well done. Well done. Well done.

Thank you. Who were your biggest cheerleaders? Each other. Each other. Financial peace classes, because you must have gone back and coordinated, right?

We facilitated some. We did the legacy journey. We facilitated the legacy journey. Yep. And then back to what he was saying.

My family is also an immigrant family. My grandparents came in from Denmark. They had seven kids. They didn't speak English. They worked, lived in a church.

And so it's like a legacy, right? The sacrifices that our grandparents and parents made, I feel like they're our cheerleaders. Amen. They set the platform for us to have this opportunity. Amen.

Amen. Well done. Well done. Well said. Well, I just think your story is fabulous, because you painted the picture with such bright color, where we could feel ourselves sitting with you in that park, looking at that house.

You can't afford. And getting disgusted with yourself. I've done the exact same thing, get disgusted with myself. And that's right. before crap changes.

I'll just tell you, man. You get sick and tired of being sick and tired. That's when it changes. That's when you transform. It's not when you figure the math out.

It's when you get mad. That's right. A righteous anger at the situation. And that just changes everything. And until then, you're just wandering along, another broke person in America that looks like they're not broke.

Right. And you straightened it up, man. I'm so proud of y'all. Thank you. Well done.

Very well done. Mark and Kelly, Fort Collins, Colorado. $305,000 paid off on their $600,000 paid-for house. And, oh, yeah. They're Baby Steps millionaires in the process.

What a great story. You guys are inspiring. Very well done. $305,000 paid off in 84 months, making $145,000 to $300,000.. Count it down.

Let's hear a debt-free scream. Three, two, one. We're debt-free!

That's how you do that. Woo! I love it.

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As a married 27-year-old running from my parents, with no meaningful form of assets besides vehicles and what we have in our savings and investment, what do you think the best way that I can get a loan that big for that size? Me and my wife currently are living at my parents' house. We have no form of debt besides, or, thanks to you, no debt. We work hard to pay off all of our student loans and credit card debt and everything. We do.

have one car loan right now that we're trying to knock out as quick as possible, but, like I said, no form of assets or anything like that.

You're not going to get that, even if we all thought that that was a good idea, and we don't. What I would do is the first thing I'd do is separate the business from the real estate.

. Okay.

Okay. All right. Now, here's what I would tell my son if he was your age and came in and sat down at my kitchen table. I would say you need a stronger personal financial foundation before you start talking about buying and running a small business. Buying and running a small business will take the bone marrow out of you.

It will drain you. It will squeeze you like yesterday's dishrag, man. Because it becomes a mistress if you're not real careful. Because you have to put everything, all your emotions, all your intellect, everything into it. And you've got a car payment and live with your mama.

So you're not ready to do that. So you guys need to get out on your own and be debt free and have a solid foundation in your life before you start talking about buying a business. This is what I would tell my own son.

Let it go. Let it go. Get in the ice business later when you get your freaking act together. You don't have your act together yet. About all you're good at so far is talking yourself into this.

Business is hard. It's hard. And you don't do it from your daddy's basement. It's hard. And you don't do it with a car payment.

You need to get a solid, solid foundation. And I don't think we can stop you. You got your foot on the pedal. You're heading off the cliff.

Sign, bridge out, bridge out, bridge out. I don't care. I don't want to miss a chance. I'm taking a jump.

And you need to build some strength to do that. But it doesn't affect me, honey. If you want to do it, you go, do it. But you ask what we would do, and we love you, and we want you to win. I told you exactly what I would tell my own son, who I want to have a great life and prosper, just like I want that for you.

So you do what you want, but I don't think you're in a position to do this right now, and I would not do it. I'm not a dream killer, but I love stepping all over nightmares. I love kicking a nightmare out the door. Yeah.

And I didn't hear enough evidence either. And this is a positive. I'm not piling on here. I didn't hear enough evidence that he understood the business and that he could truly grow the business in order to say, I could actually run the business. I'd like him to prove to the current owner that he, through his efforts, Michael, we're talking about, can grow the business.

I'll take an option to buy. And then I'll talk to you about exercising that option. But I'm not bound to it. Not contractually.

If you go the Dave route there, now all of a sudden it becomes an opportunity. I then have the option to choose to take the opportunity. And that's what I like about that. There might be some sweat equity in that plan, too, if it helps grow the business.

Live from the headquarters of Ramsey Solutions, it's the Ramsey Show, where we help people build wealth, do work that they love, and create actual, amazing relationships. I'm Dave Ramsey, your host, Ken Coleman, Ramsey, personality, number one, best-selling author of the book Paycheck to Purpose, is my co-host. today. You jump in. We'll talk about your life and your money at 888-825-5225..

Jaya is with us in Boise, Idaho. Hi, Jaya. How are you?

She has very little in savings, and she's approaching her 60s. I think she's going to work through retirement, but if anything comes up with her, like medically or anything, she's not going to have any sort of fund to help support her in that. So I feel kind of responsible for that. So I'm wondering what your opinion is on that.

It means you're a sweet person. It means you love your mom.

But morally, ethically, legally, you're not responsible. My children aren't responsible to take care of me. I'm responsible to take care of me.

I'm 63.

. It's my job to pay my bills, and I don't want my children – I don't want to be a burden to my kids.

And then I'm still in my 20s. I'm going to be saving up for a house payment, eventually a new car, all that kind of stuff. So I'm still kind of working my way through building my own life.

The way you get ready to help someone else is you build wealth.

You don't have to have a mom fund on the side. You just go become wealthy. And the shortest way to do that is walk the baby steps.

So you're how old today?

Because she was good to me when times were tough. You're good to your kids when times are tough, because that's what parents do. It's not because we expect a payback.

I do get some messaging from her of, like, kids are expensive, and she wishes her life like she didn't have kids. That's her problem. Just kind of stuff like that.

She chose for you to be born. That's on her.

So she doesn't get to play that card. I'm sorry. Her whining does not transform you to ethically become responsible for her.

Follow me? Yes, I do. Does that sound mean? See, the difference here is just love, okay? When you're acting in the goodness of your heart with an open hand out of love, that's true ministry.

That's true charity. When someone's guilt tripping you, and they're a travel agent for guilt trips, and they make you think you have a moral or ethical responsibility that you don't have because they somehow feel entitled, or they have assumed the position of victim, that's way different than generosity.

And I want you in the generous camp, not the obligated to something. you're not obligated to camp. But go, make you a whole bunch of money, and then you can decide what you want to be.

It's inefficient generosity where you stole someone else's money to do good with it. It's a whole different mindset. It's a whole different thing. One's compulsion, and one is volunteer. Your character is built when you're volunteering.

Your character is not built when you're doing something as an act of compulsion. You are becoming a better person when you are generous, not out of compulsion, but out of capacity.

You totally got it, which is awesome. But the alternative here is you start to resent the very person you want to help. And you don't want that.

You don't honor someone by helping them with their misbehavior. That's not honoring. We honor the position of mom. We honor the position of father, not of every stinking behavior that the human being engages in. This is the Ramsey Show.

Ken Coleman, Ramsey Personality, is my co-host. Open phones at 888-825-5225.. Hey, your brand-new book, Find the Work You Love, the Get Clear Assessment, Find the Work You're Wired to Do, is coming out in May, early May. And we've got it on presale right now. It comes with the Get Clear Assessment, which just under 100,000 folks have already taken at RamseySolutions.com and gone to the store and taken it.

And the assessment, the book is how to read your assessment results, and it comes with a code for you to take the assessment, right?

And if you put those three together and we do it for you with very detailed results in a purpose statement that you can think of as essentially the ultimate job description for yourself, and then the book meets you there and says, all right, how do I go about getting there? Now that I know who I am and what I want to do, how do I get there? So it's a great companion. Great graduation gift, by the way. We have over 52%, just shy over 52% of college grads, Dave, are not working in the field that they studied.

And so this is a great graduation gift as we see a lot of kids moving from college into the real world. And we have high schoolers that have taken it as well. And again, a great awareness tool as they begin to think about what their future direction looks like. And I know for many parents, that's the biggest weight they feel at this age and stage of parenting. Is my kid going to make it and find their way?

So you'll be able to give one to a spouse or to a friend, or maybe you've got two kids. I don't know whatever it is. And it's a great way for you to get the access to this material and get all the coaching direct from Ken. And so people are buying it like crazy as grad gifts, but they're also buying it just because they want to know, you know, I'm on this stinking planet. Why'd you put me here, Lord?

What are we doing? Ramsey solutions.com slash store. And you can get all of those items if you order it this week. So be sure and do that. Caleb is with us.

Caleb's in Harrisburg, Pennsylvania. Hi, Caleb. How are you?

And I'm married as well. And, you know, when I started bringing this to my wife, kind of hard moving through some of these conversations.

So I'm looking at the book right now, where she set it down, because she has been, you know, kind of perusing through it. And my biggest thing is, I just want to, you know, it's been about a month and a half since I finished the book. And I know I can't do this by myself. Well, you know, we're a team and we have to both be fully on board. And, but I don't want to keep waiting to be making right decisions.

So I've done things like I have the every dollar app and I've been trying to budget, but, you know, without it really being like a two person effort on this, I just want to know, like the, dare I say, the baby steps, to try to get to the actual baby steps.

What are you hearing?

One thing is, gosh, my excitement for it. When I get excited about something, I get very passionate. I can get kind of overwhelming. I do know that about myself.

She's already sick of Dave Ramsey. Okay. All right. You done? You got, you got some on your shoe, man.

I'm just saying. Okay.

Okay. How long y'all been married? Five years or six? Uh, three. Coming up on three here.

Okay. Good. Good. All right. Because this is the same exact stuff I used to do.

So it's easy for me. All right. So here's what I learned the hard way, because I'm wired, just like you. I'm way super excitable. I get fired up about stuff.

I go down a rabbit hole and you can't even find me. I got lost down there. And so, um, game on, you know, pedal to the metal. Let's do it. What are we waiting on?

I mean, why, why can't you get, why can't you figure this out? It's smart. I figured it out. Let's go. And, uh, none of that, of course, works.

So, uh, and that's what you're finding. So what I want you to do is stop talking about what to do. We need to do a budget. That's a what to do. We need to cut up the credit cards and stop using them.

That's a what to do. What I want you to talk about is why,

why is it? you want to do this so that we can build some wealth and have some peace and be on the same team as a married couple. And if the number one cause of divorce and, and arguments in marriage is about money, if we could get rid of the number one problem in marriage, it has to make our marriage better. That's why I want to do this. I want to do this so we can become wealthy and go on a vacation anywhere we want to go, anytime we want to go.

I want to become wealthy so we can be outrageously generous when we see a need in the marketplace, a ministry that we can support or start. I want us to be wealthy so that our kids can go to school and have no student loan debt. I want us to talk about why and get her involved in why. you got excited. Nobody gets excited about doing a budget.

The only reason we do a budget is because it's the shortest path to get there.

The only reason we stopped using the credit cards is it's the shortest path to get there, but nobody enjoys the exercise. Well, a few of you sick people do. We just enjoy being a little bit thinner.

Okay.

And what would we have to do to get there then? And how's it going to feel when we live in a paid for house and have no bills anywhere?

That's what I get excited about, honey. And then you've got a reason for you being excited rather than just, you know, slapping her upside the head with the book.

They're enthusiastic. Wow. It's fun. It's fun. This is the Ramsey Show.

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Hey, this is where I listen to the show on talk radio. This is where I watch the show. This is what's going on. Word of mouth is everything. And I think about how many times you read a book or watch a movie because some of your friends told you, and that's what, that's what drives us forward, for sure.

So thank you guys for doing that and continuing to do that. Albert is with us in Washington, D C. Hey, Albert, welcome to the Ramsey show.

Uh, the reason why I asked is because over the last five years, I've pretty much had five jobs. That first one I did have for five years, but ever since then, it's been four jobs in a row of only about a year's worth of time. The money has increased substantially, but I'm just worried. This is going to come back and, and yeah. And get me.

So my question is, were you hopping just for the increase or are you hopping, trying to find that thing, find the right environment?

So the other three are the ones that you start looking at, and if a narrative can develop, it will. So, on the surface, yeah, three jobs in three years. you know, we need a, we need a narrative and an explanation for that. Now, let's say that one of the three you were recruited. I did that happen.

Did somebody come after you or were you actively looking in all three of those?

And it's effectively going to be about the same title, but about a 40% pay increase. All right.

that's a very different story than you just being with somebody for a year and going, I'm tired of this place and I'm looking for the next place. If someone's coming after you, that's the nature of the corporate world. And that's not flaky. That makes you look very valuable.

you know, that, that, and I don't know how you keep that from happening with what you're describing. So, um, I think you've got valid explanations, but if the, if the hiring manager perceives that you're going to go to the highest bidder, as soon as the next LinkedIn, LinkedIn connection happens, then you're done. They're not going to hire you.

Yes. Were there any, did they ask you about it?

You've been in the business. So, you know, the business, that's what that's saying. That doesn't say you're going to stay.

Yeah.

Then I don't need to, I don't need a fool with all that. I'd rather just hire people that are going to stay. That's right. Uh, at least, hopefully, you know,

We'll use LinkedIn. We'll reach out and try to hire someone. when we are doing that. We've had to learn to be very careful to not attract someone who goes, yeah, it's like walking. I told one of our recruiters, it's like walking down the street and going up and knocking on someone's door that does not have a for sale sign and go, Hey, would you sell your house?

That's right. They go, well, yeah, for the right dead gun price. I would. And cause. everybody's heard the story about somebody who paid too much for a house and the guy just sold it.

Yeah. Okay. I'll take that. And you said, yeah, I sold my house. Why'd you sell your house?

Got knocked on door. Give me a ridiculous number. Well, it's the same thing. If you're out there recruiting on LinkedIn and you pull somebody in, well, I wasn't looking for a job, but I'll go over there. And then guess what?

Then they're going to do it again. Then they're going to do it again. If that's so, we've had to be careful to not do the, uh, knock on the front door of the house routine on LinkedIn in terms of our recruiting, because a couple of times we've actually done that. And it bit us as, as employers have better. So cause they don't stick, or they've got a horrible attitude.

Cause they're just here for the money or whatever. And that's a horror. You know, you hire people that work in a J O B. God just get, Oh, killing me, killing me. So yeah, you got to show up and actually care.

So, um, but that none of that's directed at you, Albert, but that's just something we learned in recruiting during this great resignation thing. Cause we were having to do more outbound recruiting than we've ever done to get the right positions at some very specialized positions to fill. This is the Ramsey show.

Thank you for joining us, America. We're so glad you are with us. open phones at triple, eight, eight, two, five, five, two, two, five. Mike is in Las Vegas. Hey Mike, what's up?

And I was thinking to myself, cash it out, take the penalty and wipe all this out and start fresh. How old are you? I'm curious if you think that's a good idea or not. How old are you?

. Okay. What were you selling?

And you were not performing and you were making $6,000 a week.

Are you married?

Your problem is not debt. Your debt, your lack of income, has, it, has shined a light on the stupidity of your debt, but it's not, it's not caused the problem. The problem is the income evaporating and not replacing it for two and a half months. So the answer is no, you don't cash out your 401k for this. You get a job and solve the income side, because if you cash this out, you're going to get hit with, if you make the same kind of money, you're going to get hit with a 10% penalty plus 30% of taxes.

So 40%. So it's like saying, Hey Dave, I'm back against the wall. Should I borrow money at 40% interest and pay off my debt? The answer would obviously be no.

You do anything to keep from doing that? because 40%. Oh my gosh. You know, you never borrow money at 40% interest. You never borrow money, but never borrow money at 40% interest, ever.

So what we got, Ken, is a career crisis. So we've got a job crisis. So let's get the guy a job.

And so how can we float and survive for 60 days, putting all your effort into winning? Because if you're going to start making the $25,000 a month in 60 days,

And it looks like you're going to have stability in 30 days. 60 for sure.

It's just dumb.

Open phones at 888-825-5225.

. You jump in, we'll talk about your life and your money. Ken, let's talk about the job market for a second. The job market in general, it went through the whole great resignation and then the great regret. I wish I hadn't left the good job, you know, for a few more bucks here and there.

And then that has now settled out and we're kind of back into more of a normal rhythm, but we have almost no unemployment.

A lot of companies waiting to see what happens in this election year. We are already, by definition, in a stagflation environment. We saw in the first quarter the GDP reduced and we're seeing inflation increase. So a lot of companies are sitting back and watching. However, of the jobs that are available, it's still in the workers' favor, Dave.

We're, again, about one and a half jobs available for every person who is actively saying, I'm unemployed and I'm looking. This is not a count for millions of people who are just saying, I'm out and I'm not interested in working. So favorable job market. But the days of skipping around, like our previous caller this hour and getting a 12 to 20% bump, those days have cooled dramatically. So now companies are looking for loyalty.

And as a worker, you should be looking for stability in a company that says they've got a long-term play and an opportunity for me to grow. Because we'll never get back to what we experienced two years ago. You're just not going to see that in the job market, where people were just leaving and leaving and leaving and getting bumps and bumps and bumps. It's not going to happen. Companies learned their lesson on that.

So short version, still a very favorable job market. Let me tell you one part of the economy, and this hits all of our audience, if you want to make more money to get through the baby steps faster, the gig economy is absolutely blowing up. Freelance work, nights and weekends, with those skills you have, it's out there. Go get it. Get you some more money.

This is the Ramsey Show.

Live from the headquarters of Ramsey Solutions, it's the Ramsey Show, where we help people. Build wealth, do work that they love, and create actual, amazing relationships. Ken Coleman, Ramsey personality, number one best-selling author of the book Paycheck to Purpose, is my co-host today. Thank you for joining us. Open phones at 888-825-5225..

Thanks for jumping in. We're glad you're here. Michael is in New York City. Hey Michael, welcome to the Ramsey Show. Hey Dave, how are you?

Better than I deserve. What's up? How's it going? So, I don't know if I gave you the question that I had asked yet, but I'm a big fan of your show, and I just wanted to see if I could take any wisdom for you and help myself kind of dig out of the little hole that I'm in. Okay, what's up?

So, long? story short, it started with a house foreclosure. I was 23 years old. I made a stupid decision to co-borrow on my parents' mortgage. Didn't know any better at the time, and four years later, which was this summer, I got a call.

the house was in foreclosure and over $200,000 in the negative. And in the blink of an eye, it was either got to have a foreclosure on my record or assume that property and take something that was well above me and my soon-to-be wife's means. And we're just trying to figure it out and make all our payments and make the best of a bad situation. In addition to some credit card fraud, which I have most of that resolved. You have most of that resolved?

Yeah, I submitted fraud claims. I have all the proof. I've worn out my cards. Bad on one, but the two larger ones are taken care of. Okay, but the house you did actually sign, it's not fraud, and now you have it.

So, what is the house worth? We inherited it for $750,000 and it's probably worth like $700,000.. What's owed on it?

$750,000.

. So, you owe more on it than it's worth? Correct. And the more that we had a nice one-bedroom apartment, living very comfortably. How in the world does a house have more owed on it than it's worth in our current world?