Live from the headquarters of Ramsay Solutions, it's the Ramsay show where we help you win, build wealth, do work that you love, and create amazing relationships. I'm George Campbell, joined by doctor John Deloney, bestselling author and host of the doctor John Deloney show. And we're taking you your calls. It's totally free. Just call triple 8825-5225 we'll do our best to help you take the right next step for your mental health, your relationships, your money, and your work. Savannah's gonna kick us off this hour in Seattle, Washington. Sienna. Savannah, how you doing? Welcome to the show.

I'm doing good. How are you doing?

Great. How can John and I help?

So I was diagnosed with bipolar one about two years ago and have been stable for about a year now. It looks like I only stable for the brieftain foreseeable future as I take my medications prescribed and see a psychiatrist, go to therapy every other week and use my coping skills. When I had my manic episode, I spent about $30,000 in five months. So I transferred $24,000 of my money into my mother in her name for her to keep safe while I got stable. Now that I am stable and probably will be for the future, I am wanting to transfer some of that money or all of it back into my name. I'm thinking about opening up a number of accounts into my name. All accounts would be a joint account with my mother. So if I were to have a Munich episode, I could give her my debit card, and from the checking account, she could pay my basic expenses and give me cash to do things like buy groceries, gas, and some spending money. The problem with this system is that I could get access to the money without my mother's oversight by opening another checking account and my own name and pulling my money from the joint accounts.

Is this a good idea, or is there another way that I should go about doing that?

I'd say the first. I should applaud you. A year staying on meds, that's. That's, like, an impressive feat. I'm proud of you.

Thanks.

Good for you. How do you feel?

I feel really good. I've never been stable since I was ten years old, so it's kind of.

And how old are you now?

How old am I now? I'm 21.

Wow.

When's your last manic episode?

When I was 19, turning 20. So September 2022 ended in December 2022.

Okay. When was your last basement episode.

Ended? In August 2023.

Okay. Okay. So, I mean, I would high five you if you were sitting right in front of me. I'm really proud of you. It's awesome.

Thank you.

So you painted me two different pictures here. Okay? You painted me one picture where you are very, very wise. And that is saying, I , like, $60,000, some of what is in a brokerage account. And I managed that completely fine until I had my big manic episode.Okay. I think you manage this the best way youthat amount. If it's a big insurance bill or something that comes up, I think that's the best case scenario. And then maybe you guys have a game plan of saying, hey, if I do really well over the next twelve months, here's what we're going to do next. I'm going to have access to the login and you're still going to have oversight. Who knows what you guys decide then, you know, if everything goes well. So I like this plan, but I think we need to make some tweaks to it in order to protect you and give you some autonomy as well. But there's no need to have more in the checking account than what you need for that month.That's right.Especially while you're in college.And there's no need, regardless of whether you're five foot one, whether you got bipolar disorder, whether you have any number of physical. I gotta bring my husband challenges. Just wanted to bring you into the picture, into the conversation, George, of, of having help and having support as you need it as part of life. And also there's a moment for people to grow up, if that's appropriate for you. And we often conflate the two. Not necessary here.It's what's happening right now.And that plan is Savannah. She should hold her head high. She's done hard work and she'll continue to do hard work.Thanks for trusting us with the call, Savannah. More of the Ramsey show coming up. Triple 8825-5225.If recent times have shown us anything, it's that the least expected events can and will happen and we have to deal with them. That's dreams. But I still find myself wishing my life was like other peoples. And based on the data, I know this is happening to you, too. Comparison is wired into us. But comparison can also become the thief of joyous because we can feel like were not enough and begin acting and thinking in ways we would never think otherwise. When it all gets to be too much, think about contacting betterhelp. Betterhelp is 100% online therapy staffed with licensed therapists. Its convenient, flexible, and suited to fit your schedule. By the way, therapy isnt just for those whove experienced major trauma. Its for all of us who are ready to get out of the comparison spin cycle and find our own peace and joy in the life were creating. Stop comparing and start focusing with Betterhelp. Visit betterhelp.com deloney today to get 10% off your first month.That's better. Help. H dash e dash p.com Deloney.Welcome back to the Ramsey show. I'm George Campbell, joined by doctor john deloney. The number to call is 888-25-5225 you jump in, we'll talk about your life, your money, your relationships, and whatever else you want to chat about. Henry is up next in Cincinnati. Henry, welcome to the show.Hey, how are you guys today?Doing well. How are you?I'm good.What's going on?Okay, so just to get to the quick question, there's a bit of a background story and you guys can ask whatever you want to after that, but. So right now I want to. Or I'm looking at buying a duplex with my I two oldest kids. I am debt free. And actually they are there, too. I have money, they don't. They have. The older one has good income. The younger one is a recently single mom. And so I'm just looking at how best to do this, because I can do this without. Without debt, but they cannot.Why are you wanting to include them?That's part of the backstory. They. Because of my kids, I'm looking to help, especially my daughter during this time. So instead of them, my oldest son is looking to make a move so that they could rent together. And in our area, the rent is absolutely ridiculous. And so I said, maybe it's a good time for us to get into a duplex to where the rent is staying in the family as opposed to going in somebody else's.So are you saying you would live on one side and son and daughter live on the other?I'm not moving. No. My son and daughter would live on one side, and the other side would get rented.So if I was you, I'd buy this duplex with cash, and I would let my son and his family or whatever rent one side, and I would help my daughter out when she was in a tough season, but I would not include them on the note or anything like that. That's gonna. You're gonna end up in a war with your kids, and the relationships you're trying to preserve and save, you'll end up. It'll end up in ashes. I'm just telling like I said, I have. I have basically a job if I wanted to waiting for me there as a nanny, and when I was working for them, I was making about as much as I'm making now.Okay.So I could either easily supplement this income with that.That would be my caveat. I think if you want to make this move to be close to family, that's fine. But don't let it slow down your snowball progress knocking out this debt.Or let me. Yeah, let me say it this way. You're not going to be the help that you can be and you want to be to your family members. If you move across the country and ride up and you're barely able to make rent and you are stressed and you're sick and your marriage falls apart, too, to. Okay, so I want you and your husband, if y'all make this move, it's. I think it's noble. I think it's great. And I think December is a great time to do this. Um, I probably wouldn't. George, tell me if I'm wrong here. I'd probably go into stork mode. I'd start stacking cash as much as we. I would try pay every month?Uh, right now my take home is about 8500.Why is it so. Oh, okay. I thought it was combined. I got scared.No, no. My wife take home was 4k before she leave for maternity leave. We have ten months old baby. She's not willing to go back before a year and a half. So right now she's making 1600 bucks growth from insurance, employment, and I'm making two k on the rental property that I like. It's. I have a mortgage helper in my house, a two bedroom that I'm renting out.Okay, what are you making from the rental? Two K 2000. So that's extra on top of your 8500. So currently as it stands, if your wife continues down this road. Hey, I'm not going to go back to work full time. Right now I'm making 1600. You guys are spending more than you make, correct?That's correct. Yes.I can see why you're drowning, my friend. Okay, let's try to develop a game plan here. Number one, your mortgage is the glaring problem here.So here's the story. Two years ago I bought this house, 1.4 million on Benz. The payment was around 5400, 5400. I was okay, so I was a variable. Now I'm paying 7200.You have to sell your house. You have to sell your house. It's too much.In October I can reduce it back with the fixed cost. I mean fixed rate of 4%. I can bring it down to maybe 5000, 805,900.It's still half of your income.You have to sell your house.That's still over half your income. So it's not going to solve the problem. Our perimeter for housing is 25% of take home pay and right now you are at 60% and you're saying, hey, one day maybe we can get it down to 55. It's not going to be a sustainable solution. You guys simply have too much house for. Even with an amazing income that you have or had, it's still a lot of mortgage for where you're at. And obviously the car loans are the other glaring problem. Now, if you sold these cars, could you get out of this thing? Are you underwater on them?The explanation for my car is stupid. I'm still calling it return was on tax was $30,000, which I have ten and I already spend 20.No one built wealth through tax savings. The problem is you're throwing away a $1,000 right now plus interest on all this while you're drowning. So, you know, I think at every turn we were like, hey, this is going to be the life hack. We're going to rent out this room, the government's going to give me a tax break and we're going to get out of this thing. And then life happens. You had a baby, which is a wonderful thing. And your wife said, I don't want to go back to work right now. And it's putting you guys in a bind. I'm assuming you guys aren't on the best of terms because you want her to go back to work because you feel the pain of the finances and she's going, I want to be with this baby. Right.I'm okay with her staying, staying out of work, but I don't want her to go back to regular job that she has. I really want her to open the smallest business that she can. Like, we need a corporate company that I can write off some of. I think that's the way I.Are you getting this idea that you're going to write off your way into building wealth and getting out of this debt? I don't think right off you have a solution to your problem.Your million dollar house and your $75,000, your car. You can't afford a man.Right now in Vancouver. I'm buying this house is a suburban house and is 20 years old.Dude, I know it's chaos. It is chaos. Expensive.I cannot defend or explain what the heck is happening in Canada? Don't worry.If I sell this house today and I go, I don't know if I, for example, if on a rent somewhere, the two bedroom, the smallest apartment goes for four k. Four thousand five hundred.Guess what? 4k is actually a reasonable amount for you to pay. And you might have to do that. And you're not throwing away money on rent. That's you building back a foundation because right now you told us you're drowning. And the reason is not because of a write off or whatever. The reason is because 60% of your take home pay is going toward the mortgage.Using your words, brother, you're in the ocean floating. And you used to be on a really nice boat and somebody just, somebody just rode up next to you in a canoe and you're like, yeah, not getting into that. That's not really how we roll. And they, they paddled away. And then a small fisherman came by and a small little John boat. And you're like, yeah, that's, that boat's gross. I'm not getting into that boat. And the whole time, brother, you're still bobbing in the ocean.My cat, my calculation could be off, but $7,200 that I'm paying right now, I can break it down to 6000 if I go fixed rate right now, if. And then I'm making two k on the rent and that's gonna put me on the 4k. Same, same spot again.Do you remember 24 months ago when Canada shut down?Shut down?I don't mean the whole country stopped spinning and people who were renting decided to not pay and they didn't have to. Do you remember that? Yeah, I just. Just a minute ago.Your life is teetering on this one tenant, and if they leave and you can't find another or they don't pay, this whole plan falls apart. We need a sustainable plan that doesn't involve the side rental business. So either you need to get your core income up, or we need to sell, downsize rent for a while, get rid of the debt and restart. But no more tax write offs. No more justifying, no more. The government's gonna do this. We've got to figure out a plan that works for the future of your family. And I wish you the best. And I know Canada. The numbers, John, are astounding.Canada. The housing's madness. The housing's madness.I can't fix that. But you've got to make a choice and you got to choose reality. And the reality is this is unsustainable. Thanks for the call Pam on this is the Ramsey show.Hey, folks, there's a lot of half baked investing advice out there, but here's what you can do to get more confident about this stuff. Check out the Smartvestor program. Smartvestor connects you with local financial advisors who have the heart of a teacher. They'll help you level up your knowledge and build a retirement plan based on your goals, not theirs. Go to ramsaysolutions.com smartvestor to get connected and get more confident about your plan. That's ramseysolutions.com smartvestor.Ramsey Solutions is a paid non client promoter of participating pros. Learn more ramsaysolutions.com smartvestor. Welcome back to the Ramsey show. I'm George Campbell, joined by doctor John Deloney. As you guys know, this is a call in show. You call triple 8825-5225 while we're on air. If you're lucky, you get patched through to doctor John. If you're unlucky, you get Ken, I'm kidding. But here's how this works. Occasionally we'll get voicemails when we're off air. And we thought it'll be fun to actually play one of those voicemails. Sometimes we get to schedule these calls, John, and sometimes, like today, we're going to do a new segment called sorry we missed your call. So explain how this works, John. What are we going to do next?Well, like, when you call me, I just don't answer. And then I see you in person, like, ah, sorry I missed your call. This isn't that case that we get, we get, we get cards and letters and countless thousands and thousands of direct messages and emails, and we get phone calls calling into the Ramsey show, and they leave messages on the machine. So we're going to play one of those messages here and then we're going to answer. Answer it.All right, let's get into this. Sorry we missed your call.Hello.I'm a huge fan of Dave Ramsey.I've got a net worth of roughly.Eight to $9 million. And my wife is totally frustrated with me that I only have one pair of shoes. I wear them everywhere. I wear them with suits. I wear them to go on the boat. I wear them everywhere. And I won't spend any money. She's like, you make 100,000 a month. She thinks I'm crazy, but I'm paranoid. I just don't want to spend any money. I'm always thinking about future, and I think that's how I got to where I am because I've been this way for 30 years. Have a good day.What an amazing call.That's one of my favorites. My favorite line is, she thinks I'm crazy, I'm paranoid, which is. Yup. All right.I also love the doctor seuss vibe he had. He's like, I have one pair of shoes. I wear them with suits. I wear them with boots. I wear them on boats. I wear them.I wear them with toots. All right, so here's the deal. When it comes to wearing one pair of shoes everywhere, I'd like to call you my hero. I'm down to two pair. I'm one that I run in and one that I wear everywhere. And you're a hero of mine.I switch pairs midday. I evening shoes.Oh, my gosh. He does. For his shoes. It's just the whole thing.But this feels.Earlier today, the name of your shoes.Yeah. You don't know the model. You get, like, a make and model because a fan out there said, john loved the dunks, and John had no idea what this man was saying. I said, john, those are nice. That's the model. It's fine. John is a man of struggle with.With. With friendship. So I. Hey, here's you. I love this. Here's the challenge. You are living a out of a heart and headspace of scarcity. And so there's this illusion that it's all coming down past the point where it's rational. And so when we talk about emotional health, do we continue to feel things that are no longer real? And the data is. Proves it out in front of us, yet we continue, our body continues to sound the alarms as though these things are coming at us right away. Right. Put in a quick, high yield savings account. At 5%, what's $8 million?What? It would grow.Yeah. A year. Okay, so, like, just sticking $8 million. Just. Just.That's 400 grand a year, which is.400 grand a year.That's not bad. Right?He's put you in the top 1% of earth.He said he's making a hundred thousand a month. So he's making $1.2 million a year.Yes.And he's not spending any of it.Yes. And so when he says, I don't want to. Great. Don't buy anything you don't want to buy if you don't spend money, because you are waiting for this next shoe to drop. If you grew up very poor or you grew up where money was a stressor. Um, and your body sounds alarms around money. And so you have created an imaginary future Yes, we have been working on that. Currently we have a pretty high income to debt ratio. I'm a truck driver so I make around $6,000 a month plus my 4000 income. She works, she makes a little over 3000, about 3500 a month. So between the two of us, we have about 13,000 coming in.Okay.My car payment is about 500.Wait, you just told me you were debt free.That is, that is the only thing that I've been taking double payments on the car. We have a two year plan so I don't plan on going right now. And our plan involves purchasing an RV because we are extreme travelers.Okay. Do you have the money to purchase that rV?That is, that is the problem that I've running into. That's the, thatYouTube, or the Ramsey Network app. Remember, you're worth being well.

, like, $60,000, some of what is in a brokerage account. And I managed that completely fine until I had my big manic episode.

Okay. I think you manage this the best way youthat amount. If it's a big insurance bill or something that comes up, I think that's the best case scenario. And then maybe you guys have a game plan of saying, hey, if I do really well over the next twelve months, here's what we're going to do next. I'm going to have access to the login and you're still going to have oversight. Who knows what you guys decide then, you know, if everything goes well. So I like this plan, but I think we need to make some tweaks to it in order to protect you and give you some autonomy as well. But there's no need to have more in the checking account than what you need for that month.That's right.Especially while you're in college.And there's no need, regardless of whether you're five foot one, whether you got bipolar disorder, whether you have any number of physical. I gotta bring my husband challenges. Just wanted to bring you into the picture, into the conversation, George, of, of having help and having support as you need it as part of life. And also there's a moment for people to grow up, if that's appropriate for you. And we often conflate the two. Not necessary here.It's what's happening right now.And that plan is Savannah. She should hold her head high. She's done hard work and she'll continue to do hard work.Thanks for trusting us with the call, Savannah. More of the Ramsey show coming up. Triple 8825-5225.If recent times have shown us anything, it's that the least expected events can and will happen and we have to deal with them. That's dreams. But I still find myself wishing my life was like other peoples. And based on the data, I know this is happening to you, too. Comparison is wired into us. But comparison can also become the thief of joyous because we can feel like were not enough and begin acting and thinking in ways we would never think otherwise. When it all gets to be too much, think about contacting betterhelp. Betterhelp is 100% online therapy staffed with licensed therapists. Its convenient, flexible, and suited to fit your schedule. By the way, therapy isnt just for those whove experienced major trauma. Its for all of us who are ready to get out of the comparison spin cycle and find our own peace and joy in the life were creating. Stop comparing and start focusing with Betterhelp. Visit betterhelp.com deloney today to get 10% off your first month.That's better. Help. H dash e dash p.com Deloney.Welcome back to the Ramsey show. I'm George Campbell, joined by doctor john deloney. The number to call is 888-25-5225 you jump in, we'll talk about your life, your money, your relationships, and whatever else you want to chat about. Henry is up next in Cincinnati. Henry, welcome to the show.Hey, how are you guys today?Doing well. How are you?I'm good.What's going on?Okay, so just to get to the quick question, there's a bit of a background story and you guys can ask whatever you want to after that, but. So right now I want to. Or I'm looking at buying a duplex with my I two oldest kids. I am debt free. And actually they are there, too. I have money, they don't. They have. The older one has good income. The younger one is a recently single mom. And so I'm just looking at how best to do this, because I can do this without. Without debt, but they cannot.Why are you wanting to include them?That's part of the backstory. They. Because of my kids, I'm looking to help, especially my daughter during this time. So instead of them, my oldest son is looking to make a move so that they could rent together. And in our area, the rent is absolutely ridiculous. And so I said, maybe it's a good time for us to get into a duplex to where the rent is staying in the family as opposed to going in somebody else's.So are you saying you would live on one side and son and daughter live on the other?I'm not moving. No. My son and daughter would live on one side, and the other side would get rented.So if I was you, I'd buy this duplex with cash, and I would let my son and his family or whatever rent one side, and I would help my daughter out when she was in a tough season, but I would not include them on the note or anything like that. That's gonna. You're gonna end up in a war with your kids, and the relationships you're trying to preserve and save, you'll end up. It'll end up in ashes. I'm just telling like I said, I have. I have basically a job if I wanted to waiting for me there as a nanny, and when I was working for them, I was making about as much as I'm making now.Okay.So I could either easily supplement this income with that.That would be my caveat. I think if you want to make this move to be close to family, that's fine. But don't let it slow down your snowball progress knocking out this debt.Or let me. Yeah, let me say it this way. You're not going to be the help that you can be and you want to be to your family members. If you move across the country and ride up and you're barely able to make rent and you are stressed and you're sick and your marriage falls apart, too, to. Okay, so I want you and your husband, if y'all make this move, it's. I think it's noble. I think it's great. And I think December is a great time to do this. Um, I probably wouldn't. George, tell me if I'm wrong here. I'd probably go into stork mode. I'd start stacking cash as much as we. I would try pay every month?Uh, right now my take home is about 8500.Why is it so. Oh, okay. I thought it was combined. I got scared.No, no. My wife take home was 4k before she leave for maternity leave. We have ten months old baby. She's not willing to go back before a year and a half. So right now she's making 1600 bucks growth from insurance, employment, and I'm making two k on the rental property that I like. It's. I have a mortgage helper in my house, a two bedroom that I'm renting out.Okay, what are you making from the rental? Two K 2000. So that's extra on top of your 8500. So currently as it stands, if your wife continues down this road. Hey, I'm not going to go back to work full time. Right now I'm making 1600. You guys are spending more than you make, correct?That's correct. Yes.I can see why you're drowning, my friend. Okay, let's try to develop a game plan here. Number one, your mortgage is the glaring problem here.So here's the story. Two years ago I bought this house, 1.4 million on Benz. The payment was around 5400, 5400. I was okay, so I was a variable. Now I'm paying 7200.You have to sell your house. You have to sell your house. It's too much.In October I can reduce it back with the fixed cost. I mean fixed rate of 4%. I can bring it down to maybe 5000, 805,900.It's still half of your income.You have to sell your house.That's still over half your income. So it's not going to solve the problem. Our perimeter for housing is 25% of take home pay and right now you are at 60% and you're saying, hey, one day maybe we can get it down to 55. It's not going to be a sustainable solution. You guys simply have too much house for. Even with an amazing income that you have or had, it's still a lot of mortgage for where you're at. And obviously the car loans are the other glaring problem. Now, if you sold these cars, could you get out of this thing? Are you underwater on them?The explanation for my car is stupid. I'm still calling it return was on tax was $30,000, which I have ten and I already spend 20.No one built wealth through tax savings. The problem is you're throwing away a $1,000 right now plus interest on all this while you're drowning. So, you know, I think at every turn we were like, hey, this is going to be the life hack. We're going to rent out this room, the government's going to give me a tax break and we're going to get out of this thing. And then life happens. You had a baby, which is a wonderful thing. And your wife said, I don't want to go back to work right now. And it's putting you guys in a bind. I'm assuming you guys aren't on the best of terms because you want her to go back to work because you feel the pain of the finances and she's going, I want to be with this baby. Right.I'm okay with her staying, staying out of work, but I don't want her to go back to regular job that she has. I really want her to open the smallest business that she can. Like, we need a corporate company that I can write off some of. I think that's the way I.Are you getting this idea that you're going to write off your way into building wealth and getting out of this debt? I don't think right off you have a solution to your problem.Your million dollar house and your $75,000, your car. You can't afford a man.Right now in Vancouver. I'm buying this house is a suburban house and is 20 years old.Dude, I know it's chaos. It is chaos. Expensive.I cannot defend or explain what the heck is happening in Canada? Don't worry.If I sell this house today and I go, I don't know if I, for example, if on a rent somewhere, the two bedroom, the smallest apartment goes for four k. Four thousand five hundred.Guess what? 4k is actually a reasonable amount for you to pay. And you might have to do that. And you're not throwing away money on rent. That's you building back a foundation because right now you told us you're drowning. And the reason is not because of a write off or whatever. The reason is because 60% of your take home pay is going toward the mortgage.Using your words, brother, you're in the ocean floating. And you used to be on a really nice boat and somebody just, somebody just rode up next to you in a canoe and you're like, yeah, not getting into that. That's not really how we roll. And they, they paddled away. And then a small fisherman came by and a small little John boat. And you're like, yeah, that's, that boat's gross. I'm not getting into that boat. And the whole time, brother, you're still bobbing in the ocean.My cat, my calculation could be off, but $7,200 that I'm paying right now, I can break it down to 6000 if I go fixed rate right now, if. And then I'm making two k on the rent and that's gonna put me on the 4k. Same, same spot again.Do you remember 24 months ago when Canada shut down?Shut down?I don't mean the whole country stopped spinning and people who were renting decided to not pay and they didn't have to. Do you remember that? Yeah, I just. Just a minute ago.Your life is teetering on this one tenant, and if they leave and you can't find another or they don't pay, this whole plan falls apart. We need a sustainable plan that doesn't involve the side rental business. So either you need to get your core income up, or we need to sell, downsize rent for a while, get rid of the debt and restart. But no more tax write offs. No more justifying, no more. The government's gonna do this. We've got to figure out a plan that works for the future of your family. And I wish you the best. And I know Canada. The numbers, John, are astounding.Canada. The housing's madness. The housing's madness.I can't fix that. But you've got to make a choice and you got to choose reality. And the reality is this is unsustainable. Thanks for the call Pam on this is the Ramsey show.Hey, folks, there's a lot of half baked investing advice out there, but here's what you can do to get more confident about this stuff. Check out the Smartvestor program. Smartvestor connects you with local financial advisors who have the heart of a teacher. They'll help you level up your knowledge and build a retirement plan based on your goals, not theirs. Go to ramsaysolutions.com smartvestor to get connected and get more confident about your plan. That's ramseysolutions.com smartvestor.Ramsey Solutions is a paid non client promoter of participating pros. Learn more ramsaysolutions.com smartvestor. Welcome back to the Ramsey show. I'm George Campbell, joined by doctor John Deloney. As you guys know, this is a call in show. You call triple 8825-5225 while we're on air. If you're lucky, you get patched through to doctor John. If you're unlucky, you get Ken, I'm kidding. But here's how this works. Occasionally we'll get voicemails when we're off air. And we thought it'll be fun to actually play one of those voicemails. Sometimes we get to schedule these calls, John, and sometimes, like today, we're going to do a new segment called sorry we missed your call. So explain how this works, John. What are we going to do next?Well, like, when you call me, I just don't answer. And then I see you in person, like, ah, sorry I missed your call. This isn't that case that we get, we get, we get cards and letters and countless thousands and thousands of direct messages and emails, and we get phone calls calling into the Ramsey show, and they leave messages on the machine. So we're going to play one of those messages here and then we're going to answer. Answer it.All right, let's get into this. Sorry we missed your call.Hello.I'm a huge fan of Dave Ramsey.I've got a net worth of roughly.Eight to $9 million. And my wife is totally frustrated with me that I only have one pair of shoes. I wear them everywhere. I wear them with suits. I wear them to go on the boat. I wear them everywhere. And I won't spend any money. She's like, you make 100,000 a month. She thinks I'm crazy, but I'm paranoid. I just don't want to spend any money. I'm always thinking about future, and I think that's how I got to where I am because I've been this way for 30 years. Have a good day.What an amazing call.That's one of my favorites. My favorite line is, she thinks I'm crazy, I'm paranoid, which is. Yup. All right.I also love the doctor seuss vibe he had. He's like, I have one pair of shoes. I wear them with suits. I wear them with boots. I wear them on boats. I wear them.I wear them with toots. All right, so here's the deal. When it comes to wearing one pair of shoes everywhere, I'd like to call you my hero. I'm down to two pair. I'm one that I run in and one that I wear everywhere. And you're a hero of mine.I switch pairs midday. I evening shoes.Oh, my gosh. He does. For his shoes. It's just the whole thing.But this feels.Earlier today, the name of your shoes.Yeah. You don't know the model. You get, like, a make and model because a fan out there said, john loved the dunks, and John had no idea what this man was saying. I said, john, those are nice. That's the model. It's fine. John is a man of struggle with.With. With friendship. So I. Hey, here's you. I love this. Here's the challenge. You are living a out of a heart and headspace of scarcity. And so there's this illusion that it's all coming down past the point where it's rational. And so when we talk about emotional health, do we continue to feel things that are no longer real? And the data is. Proves it out in front of us, yet we continue, our body continues to sound the alarms as though these things are coming at us right away. Right. Put in a quick, high yield savings account. At 5%, what's $8 million?What? It would grow.Yeah. A year. Okay, so, like, just sticking $8 million. Just. Just.That's 400 grand a year, which is.400 grand a year.That's not bad. Right?He's put you in the top 1% of earth.He said he's making a hundred thousand a month. So he's making $1.2 million a year.Yes.And he's not spending any of it.Yes. And so when he says, I don't want to. Great. Don't buy anything you don't want to buy if you don't spend money, because you are waiting for this next shoe to drop. If you grew up very poor or you grew up where money was a stressor. Um, and your body sounds alarms around money. And so you have created an imaginary future Yes, we have been working on that. Currently we have a pretty high income to debt ratio. I'm a truck driver so I make around $6,000 a month plus my 4000 income. She works, she makes a little over 3000, about 3500 a month. So between the two of us, we have about 13,000 coming in.Okay.My car payment is about 500.Wait, you just told me you were debt free.That is, that is the only thing that I've been taking double payments on the car. We have a two year plan so I don't plan on going right now. And our plan involves purchasing an RV because we are extreme travelers.Okay. Do you have the money to purchase that rV?That is, that is the problem that I've running into. That's the, thatYouTube, or the Ramsey Network app. Remember, you're worth being well.

that amount. If it's a big insurance bill or something that comes up, I think that's the best case scenario. And then maybe you guys have a game plan of saying, hey, if I do really well over the next twelve months, here's what we're going to do next. I'm going to have access to the login and you're still going to have oversight. Who knows what you guys decide then, you know, if everything goes well. So I like this plan, but I think we need to make some tweaks to it in order to protect you and give you some autonomy as well. But there's no need to have more in the checking account than what you need for that month.

That's right.

Especially while you're in college.

And there's no need, regardless of whether you're five foot one, whether you got bipolar disorder, whether you have any number of physical. I gotta bring my husband challenges. Just wanted to bring you into the picture, into the conversation, George, of, of having help and having support as you need it as part of life. And also there's a moment for people to grow up, if that's appropriate for you. And we often conflate the two. Not necessary here.

It's what's happening right now.

And that plan is Savannah. She should hold her head high. She's done hard work and she'll continue to do hard work.

Thanks for trusting us with the call, Savannah. More of the Ramsey show coming up. Triple 8825-5225.

If recent times have shown us anything, it's that the least expected events can and will happen and we have to deal with them. That's dreams. But I still find myself wishing my life was like other peoples. And based on the data, I know this is happening to you, too. Comparison is wired into us. But comparison can also become the thief of joyous because we can feel like were not enough and begin acting and thinking in ways we would never think otherwise. When it all gets to be too much, think about contacting betterhelp. Betterhelp is 100% online therapy staffed with licensed therapists. Its convenient, flexible, and suited to fit your schedule. By the way, therapy isnt just for those whove experienced major trauma. Its for all of us who are ready to get out of the comparison spin cycle and find our own peace and joy in the life were creating. Stop comparing and start focusing with Betterhelp. Visit betterhelp.com deloney today to get 10% off your first month.That's better. Help. H dash e dash p.com Deloney.Welcome back to the Ramsey show. I'm George Campbell, joined by doctor john deloney. The number to call is 888-25-5225 you jump in, we'll talk about your life, your money, your relationships, and whatever else you want to chat about. Henry is up next in Cincinnati. Henry, welcome to the show.Hey, how are you guys today?Doing well. How are you?I'm good.What's going on?Okay, so just to get to the quick question, there's a bit of a background story and you guys can ask whatever you want to after that, but. So right now I want to. Or I'm looking at buying a duplex with my I two oldest kids. I am debt free. And actually they are there, too. I have money, they don't. They have. The older one has good income. The younger one is a recently single mom. And so I'm just looking at how best to do this, because I can do this without. Without debt, but they cannot.Why are you wanting to include them?That's part of the backstory. They. Because of my kids, I'm looking to help, especially my daughter during this time. So instead of them, my oldest son is looking to make a move so that they could rent together. And in our area, the rent is absolutely ridiculous. And so I said, maybe it's a good time for us to get into a duplex to where the rent is staying in the family as opposed to going in somebody else's.So are you saying you would live on one side and son and daughter live on the other?I'm not moving. No. My son and daughter would live on one side, and the other side would get rented.So if I was you, I'd buy this duplex with cash, and I would let my son and his family or whatever rent one side, and I would help my daughter out when she was in a tough season, but I would not include them on the note or anything like that. That's gonna. You're gonna end up in a war with your kids, and the relationships you're trying to preserve and save, you'll end up. It'll end up in ashes. I'm just telling like I said, I have. I have basically a job if I wanted to waiting for me there as a nanny, and when I was working for them, I was making about as much as I'm making now.Okay.So I could either easily supplement this income with that.That would be my caveat. I think if you want to make this move to be close to family, that's fine. But don't let it slow down your snowball progress knocking out this debt.Or let me. Yeah, let me say it this way. You're not going to be the help that you can be and you want to be to your family members. If you move across the country and ride up and you're barely able to make rent and you are stressed and you're sick and your marriage falls apart, too, to. Okay, so I want you and your husband, if y'all make this move, it's. I think it's noble. I think it's great. And I think December is a great time to do this. Um, I probably wouldn't. George, tell me if I'm wrong here. I'd probably go into stork mode. I'd start stacking cash as much as we. I would try pay every month?Uh, right now my take home is about 8500.Why is it so. Oh, okay. I thought it was combined. I got scared.No, no. My wife take home was 4k before she leave for maternity leave. We have ten months old baby. She's not willing to go back before a year and a half. So right now she's making 1600 bucks growth from insurance, employment, and I'm making two k on the rental property that I like. It's. I have a mortgage helper in my house, a two bedroom that I'm renting out.Okay, what are you making from the rental? Two K 2000. So that's extra on top of your 8500. So currently as it stands, if your wife continues down this road. Hey, I'm not going to go back to work full time. Right now I'm making 1600. You guys are spending more than you make, correct?That's correct. Yes.I can see why you're drowning, my friend. Okay, let's try to develop a game plan here. Number one, your mortgage is the glaring problem here.So here's the story. Two years ago I bought this house, 1.4 million on Benz. The payment was around 5400, 5400. I was okay, so I was a variable. Now I'm paying 7200.You have to sell your house. You have to sell your house. It's too much.In October I can reduce it back with the fixed cost. I mean fixed rate of 4%. I can bring it down to maybe 5000, 805,900.It's still half of your income.You have to sell your house.That's still over half your income. So it's not going to solve the problem. Our perimeter for housing is 25% of take home pay and right now you are at 60% and you're saying, hey, one day maybe we can get it down to 55. It's not going to be a sustainable solution. You guys simply have too much house for. Even with an amazing income that you have or had, it's still a lot of mortgage for where you're at. And obviously the car loans are the other glaring problem. Now, if you sold these cars, could you get out of this thing? Are you underwater on them?The explanation for my car is stupid. I'm still calling it return was on tax was $30,000, which I have ten and I already spend 20.No one built wealth through tax savings. The problem is you're throwing away a $1,000 right now plus interest on all this while you're drowning. So, you know, I think at every turn we were like, hey, this is going to be the life hack. We're going to rent out this room, the government's going to give me a tax break and we're going to get out of this thing. And then life happens. You had a baby, which is a wonderful thing. And your wife said, I don't want to go back to work right now. And it's putting you guys in a bind. I'm assuming you guys aren't on the best of terms because you want her to go back to work because you feel the pain of the finances and she's going, I want to be with this baby. Right.I'm okay with her staying, staying out of work, but I don't want her to go back to regular job that she has. I really want her to open the smallest business that she can. Like, we need a corporate company that I can write off some of. I think that's the way I.Are you getting this idea that you're going to write off your way into building wealth and getting out of this debt? I don't think right off you have a solution to your problem.Your million dollar house and your $75,000, your car. You can't afford a man.Right now in Vancouver. I'm buying this house is a suburban house and is 20 years old.Dude, I know it's chaos. It is chaos. Expensive.I cannot defend or explain what the heck is happening in Canada? Don't worry.If I sell this house today and I go, I don't know if I, for example, if on a rent somewhere, the two bedroom, the smallest apartment goes for four k. Four thousand five hundred.Guess what? 4k is actually a reasonable amount for you to pay. And you might have to do that. And you're not throwing away money on rent. That's you building back a foundation because right now you told us you're drowning. And the reason is not because of a write off or whatever. The reason is because 60% of your take home pay is going toward the mortgage.Using your words, brother, you're in the ocean floating. And you used to be on a really nice boat and somebody just, somebody just rode up next to you in a canoe and you're like, yeah, not getting into that. That's not really how we roll. And they, they paddled away. And then a small fisherman came by and a small little John boat. And you're like, yeah, that's, that boat's gross. I'm not getting into that boat. And the whole time, brother, you're still bobbing in the ocean.My cat, my calculation could be off, but $7,200 that I'm paying right now, I can break it down to 6000 if I go fixed rate right now, if. And then I'm making two k on the rent and that's gonna put me on the 4k. Same, same spot again.Do you remember 24 months ago when Canada shut down?Shut down?I don't mean the whole country stopped spinning and people who were renting decided to not pay and they didn't have to. Do you remember that? Yeah, I just. Just a minute ago.Your life is teetering on this one tenant, and if they leave and you can't find another or they don't pay, this whole plan falls apart. We need a sustainable plan that doesn't involve the side rental business. So either you need to get your core income up, or we need to sell, downsize rent for a while, get rid of the debt and restart. But no more tax write offs. No more justifying, no more. The government's gonna do this. We've got to figure out a plan that works for the future of your family. And I wish you the best. And I know Canada. The numbers, John, are astounding.Canada. The housing's madness. The housing's madness.I can't fix that. But you've got to make a choice and you got to choose reality. And the reality is this is unsustainable. Thanks for the call Pam on this is the Ramsey show.Hey, folks, there's a lot of half baked investing advice out there, but here's what you can do to get more confident about this stuff. Check out the Smartvestor program. Smartvestor connects you with local financial advisors who have the heart of a teacher. They'll help you level up your knowledge and build a retirement plan based on your goals, not theirs. Go to ramsaysolutions.com smartvestor to get connected and get more confident about your plan. That's ramseysolutions.com smartvestor.Ramsey Solutions is a paid non client promoter of participating pros. Learn more ramsaysolutions.com smartvestor. Welcome back to the Ramsey show. I'm George Campbell, joined by doctor John Deloney. As you guys know, this is a call in show. You call triple 8825-5225 while we're on air. If you're lucky, you get patched through to doctor John. If you're unlucky, you get Ken, I'm kidding. But here's how this works. Occasionally we'll get voicemails when we're off air. And we thought it'll be fun to actually play one of those voicemails. Sometimes we get to schedule these calls, John, and sometimes, like today, we're going to do a new segment called sorry we missed your call. So explain how this works, John. What are we going to do next?Well, like, when you call me, I just don't answer. And then I see you in person, like, ah, sorry I missed your call. This isn't that case that we get, we get, we get cards and letters and countless thousands and thousands of direct messages and emails, and we get phone calls calling into the Ramsey show, and they leave messages on the machine. So we're going to play one of those messages here and then we're going to answer. Answer it.All right, let's get into this. Sorry we missed your call.Hello.I'm a huge fan of Dave Ramsey.I've got a net worth of roughly.Eight to $9 million. And my wife is totally frustrated with me that I only have one pair of shoes. I wear them everywhere. I wear them with suits. I wear them to go on the boat. I wear them everywhere. And I won't spend any money. She's like, you make 100,000 a month. She thinks I'm crazy, but I'm paranoid. I just don't want to spend any money. I'm always thinking about future, and I think that's how I got to where I am because I've been this way for 30 years. Have a good day.What an amazing call.That's one of my favorites. My favorite line is, she thinks I'm crazy, I'm paranoid, which is. Yup. All right.I also love the doctor seuss vibe he had. He's like, I have one pair of shoes. I wear them with suits. I wear them with boots. I wear them on boats. I wear them.I wear them with toots. All right, so here's the deal. When it comes to wearing one pair of shoes everywhere, I'd like to call you my hero. I'm down to two pair. I'm one that I run in and one that I wear everywhere. And you're a hero of mine.I switch pairs midday. I evening shoes.Oh, my gosh. He does. For his shoes. It's just the whole thing.But this feels.Earlier today, the name of your shoes.Yeah. You don't know the model. You get, like, a make and model because a fan out there said, john loved the dunks, and John had no idea what this man was saying. I said, john, those are nice. That's the model. It's fine. John is a man of struggle with.With. With friendship. So I. Hey, here's you. I love this. Here's the challenge. You are living a out of a heart and headspace of scarcity. And so there's this illusion that it's all coming down past the point where it's rational. And so when we talk about emotional health, do we continue to feel things that are no longer real? And the data is. Proves it out in front of us, yet we continue, our body continues to sound the alarms as though these things are coming at us right away. Right. Put in a quick, high yield savings account. At 5%, what's $8 million?What? It would grow.Yeah. A year. Okay, so, like, just sticking $8 million. Just. Just.That's 400 grand a year, which is.400 grand a year.That's not bad. Right?He's put you in the top 1% of earth.He said he's making a hundred thousand a month. So he's making $1.2 million a year.Yes.And he's not spending any of it.Yes. And so when he says, I don't want to. Great. Don't buy anything you don't want to buy if you don't spend money, because you are waiting for this next shoe to drop. If you grew up very poor or you grew up where money was a stressor. Um, and your body sounds alarms around money. And so you have created an imaginary future Yes, we have been working on that. Currently we have a pretty high income to debt ratio. I'm a truck driver so I make around $6,000 a month plus my 4000 income. She works, she makes a little over 3000, about 3500 a month. So between the two of us, we have about 13,000 coming in.Okay.My car payment is about 500.Wait, you just told me you were debt free.That is, that is the only thing that I've been taking double payments on the car. We have a two year plan so I don't plan on going right now. And our plan involves purchasing an RV because we are extreme travelers.Okay. Do you have the money to purchase that rV?That is, that is the problem that I've running into. That's the, thatYouTube, or the Ramsey Network app. Remember, you're worth being well.

dreams. But I still find myself wishing my life was like other peoples. And based on the data, I know this is happening to you, too. Comparison is wired into us. But comparison can also become the thief of joyous because we can feel like were not enough and begin acting and thinking in ways we would never think otherwise. When it all gets to be too much, think about contacting betterhelp. Betterhelp is 100% online therapy staffed with licensed therapists. Its convenient, flexible, and suited to fit your schedule. By the way, therapy isnt just for those whove experienced major trauma. Its for all of us who are ready to get out of the comparison spin cycle and find our own peace and joy in the life were creating. Stop comparing and start focusing with Betterhelp. Visit betterhelp.com deloney today to get 10% off your first month.

That's better. Help. H dash e dash p.com Deloney.

Welcome back to the Ramsey show. I'm George Campbell, joined by doctor john deloney. The number to call is 888-25-5225 you jump in, we'll talk about your life, your money, your relationships, and whatever else you want to chat about. Henry is up next in Cincinnati. Henry, welcome to the show.

Hey, how are you guys today?

Doing well. How are you?

I'm good.

What's going on?

Okay, so just to get to the quick question, there's a bit of a background story and you guys can ask whatever you want to after that, but. So right now I want to. Or I'm looking at buying a duplex with my I two oldest kids. I am debt free. And actually they are there, too. I have money, they don't. They have. The older one has good income. The younger one is a recently single mom. And so I'm just looking at how best to do this, because I can do this without. Without debt, but they cannot.

Why are you wanting to include them?

That's part of the backstory. They. Because of my kids, I'm looking to help, especially my daughter during this time. So instead of them, my oldest son is looking to make a move so that they could rent together. And in our area, the rent is absolutely ridiculous. And so I said, maybe it's a good time for us to get into a duplex to where the rent is staying in the family as opposed to going in somebody else's.

So are you saying you would live on one side and son and daughter live on the other?

I'm not moving. No. My son and daughter would live on one side, and the other side would get rented.

So if I was you, I'd buy this duplex with cash, and I would let my son and his family or whatever rent one side, and I would help my daughter out when she was in a tough season, but I would not include them on the note or anything like that. That's gonna. You're gonna end up in a war with your kids, and the relationships you're trying to preserve and save, you'll end up. It'll end up in ashes. I'm just telling like I said, I have. I have basically a job if I wanted to waiting for me there as a nanny, and when I was working for them, I was making about as much as I'm making now.Okay.So I could either easily supplement this income with that.That would be my caveat. I think if you want to make this move to be close to family, that's fine. But don't let it slow down your snowball progress knocking out this debt.Or let me. Yeah, let me say it this way. You're not going to be the help that you can be and you want to be to your family members. If you move across the country and ride up and you're barely able to make rent and you are stressed and you're sick and your marriage falls apart, too, to. Okay, so I want you and your husband, if y'all make this move, it's. I think it's noble. I think it's great. And I think December is a great time to do this. Um, I probably wouldn't. George, tell me if I'm wrong here. I'd probably go into stork mode. I'd start stacking cash as much as we. I would try pay every month?Uh, right now my take home is about 8500.Why is it so. Oh, okay. I thought it was combined. I got scared.No, no. My wife take home was 4k before she leave for maternity leave. We have ten months old baby. She's not willing to go back before a year and a half. So right now she's making 1600 bucks growth from insurance, employment, and I'm making two k on the rental property that I like. It's. I have a mortgage helper in my house, a two bedroom that I'm renting out.Okay, what are you making from the rental? Two K 2000. So that's extra on top of your 8500. So currently as it stands, if your wife continues down this road. Hey, I'm not going to go back to work full time. Right now I'm making 1600. You guys are spending more than you make, correct?That's correct. Yes.I can see why you're drowning, my friend. Okay, let's try to develop a game plan here. Number one, your mortgage is the glaring problem here.So here's the story. Two years ago I bought this house, 1.4 million on Benz. The payment was around 5400, 5400. I was okay, so I was a variable. Now I'm paying 7200.You have to sell your house. You have to sell your house. It's too much.In October I can reduce it back with the fixed cost. I mean fixed rate of 4%. I can bring it down to maybe 5000, 805,900.It's still half of your income.You have to sell your house.That's still over half your income. So it's not going to solve the problem. Our perimeter for housing is 25% of take home pay and right now you are at 60% and you're saying, hey, one day maybe we can get it down to 55. It's not going to be a sustainable solution. You guys simply have too much house for. Even with an amazing income that you have or had, it's still a lot of mortgage for where you're at. And obviously the car loans are the other glaring problem. Now, if you sold these cars, could you get out of this thing? Are you underwater on them?The explanation for my car is stupid. I'm still calling it return was on tax was $30,000, which I have ten and I already spend 20.No one built wealth through tax savings. The problem is you're throwing away a $1,000 right now plus interest on all this while you're drowning. So, you know, I think at every turn we were like, hey, this is going to be the life hack. We're going to rent out this room, the government's going to give me a tax break and we're going to get out of this thing. And then life happens. You had a baby, which is a wonderful thing. And your wife said, I don't want to go back to work right now. And it's putting you guys in a bind. I'm assuming you guys aren't on the best of terms because you want her to go back to work because you feel the pain of the finances and she's going, I want to be with this baby. Right.I'm okay with her staying, staying out of work, but I don't want her to go back to regular job that she has. I really want her to open the smallest business that she can. Like, we need a corporate company that I can write off some of. I think that's the way I.Are you getting this idea that you're going to write off your way into building wealth and getting out of this debt? I don't think right off you have a solution to your problem.Your million dollar house and your $75,000, your car. You can't afford a man.Right now in Vancouver. I'm buying this house is a suburban house and is 20 years old.Dude, I know it's chaos. It is chaos. Expensive.I cannot defend or explain what the heck is happening in Canada? Don't worry.If I sell this house today and I go, I don't know if I, for example, if on a rent somewhere, the two bedroom, the smallest apartment goes for four k. Four thousand five hundred.Guess what? 4k is actually a reasonable amount for you to pay. And you might have to do that. And you're not throwing away money on rent. That's you building back a foundation because right now you told us you're drowning. And the reason is not because of a write off or whatever. The reason is because 60% of your take home pay is going toward the mortgage.Using your words, brother, you're in the ocean floating. And you used to be on a really nice boat and somebody just, somebody just rode up next to you in a canoe and you're like, yeah, not getting into that. That's not really how we roll. And they, they paddled away. And then a small fisherman came by and a small little John boat. And you're like, yeah, that's, that boat's gross. I'm not getting into that boat. And the whole time, brother, you're still bobbing in the ocean.My cat, my calculation could be off, but $7,200 that I'm paying right now, I can break it down to 6000 if I go fixed rate right now, if. And then I'm making two k on the rent and that's gonna put me on the 4k. Same, same spot again.Do you remember 24 months ago when Canada shut down?Shut down?I don't mean the whole country stopped spinning and people who were renting decided to not pay and they didn't have to. Do you remember that? Yeah, I just. Just a minute ago.Your life is teetering on this one tenant, and if they leave and you can't find another or they don't pay, this whole plan falls apart. We need a sustainable plan that doesn't involve the side rental business. So either you need to get your core income up, or we need to sell, downsize rent for a while, get rid of the debt and restart. But no more tax write offs. No more justifying, no more. The government's gonna do this. We've got to figure out a plan that works for the future of your family. And I wish you the best. And I know Canada. The numbers, John, are astounding.Canada. The housing's madness. The housing's madness.I can't fix that. But you've got to make a choice and you got to choose reality. And the reality is this is unsustainable. Thanks for the call Pam on this is the Ramsey show.Hey, folks, there's a lot of half baked investing advice out there, but here's what you can do to get more confident about this stuff. Check out the Smartvestor program. Smartvestor connects you with local financial advisors who have the heart of a teacher. They'll help you level up your knowledge and build a retirement plan based on your goals, not theirs. Go to ramsaysolutions.com smartvestor to get connected and get more confident about your plan. That's ramseysolutions.com smartvestor.Ramsey Solutions is a paid non client promoter of participating pros. Learn more ramsaysolutions.com smartvestor. Welcome back to the Ramsey show. I'm George Campbell, joined by doctor John Deloney. As you guys know, this is a call in show. You call triple 8825-5225 while we're on air. If you're lucky, you get patched through to doctor John. If you're unlucky, you get Ken, I'm kidding. But here's how this works. Occasionally we'll get voicemails when we're off air. And we thought it'll be fun to actually play one of those voicemails. Sometimes we get to schedule these calls, John, and sometimes, like today, we're going to do a new segment called sorry we missed your call. So explain how this works, John. What are we going to do next?Well, like, when you call me, I just don't answer. And then I see you in person, like, ah, sorry I missed your call. This isn't that case that we get, we get, we get cards and letters and countless thousands and thousands of direct messages and emails, and we get phone calls calling into the Ramsey show, and they leave messages on the machine. So we're going to play one of those messages here and then we're going to answer. Answer it.All right, let's get into this. Sorry we missed your call.Hello.I'm a huge fan of Dave Ramsey.I've got a net worth of roughly.Eight to $9 million. And my wife is totally frustrated with me that I only have one pair of shoes. I wear them everywhere. I wear them with suits. I wear them to go on the boat. I wear them everywhere. And I won't spend any money. She's like, you make 100,000 a month. She thinks I'm crazy, but I'm paranoid. I just don't want to spend any money. I'm always thinking about future, and I think that's how I got to where I am because I've been this way for 30 years. Have a good day.What an amazing call.That's one of my favorites. My favorite line is, she thinks I'm crazy, I'm paranoid, which is. Yup. All right.I also love the doctor seuss vibe he had. He's like, I have one pair of shoes. I wear them with suits. I wear them with boots. I wear them on boats. I wear them.I wear them with toots. All right, so here's the deal. When it comes to wearing one pair of shoes everywhere, I'd like to call you my hero. I'm down to two pair. I'm one that I run in and one that I wear everywhere. And you're a hero of mine.I switch pairs midday. I evening shoes.Oh, my gosh. He does. For his shoes. It's just the whole thing.But this feels.Earlier today, the name of your shoes.Yeah. You don't know the model. You get, like, a make and model because a fan out there said, john loved the dunks, and John had no idea what this man was saying. I said, john, those are nice. That's the model. It's fine. John is a man of struggle with.With. With friendship. So I. Hey, here's you. I love this. Here's the challenge. You are living a out of a heart and headspace of scarcity. And so there's this illusion that it's all coming down past the point where it's rational. And so when we talk about emotional health, do we continue to feel things that are no longer real? And the data is. Proves it out in front of us, yet we continue, our body continues to sound the alarms as though these things are coming at us right away. Right. Put in a quick, high yield savings account. At 5%, what's $8 million?What? It would grow.Yeah. A year. Okay, so, like, just sticking $8 million. Just. Just.That's 400 grand a year, which is.400 grand a year.That's not bad. Right?He's put you in the top 1% of earth.He said he's making a hundred thousand a month. So he's making $1.2 million a year.Yes.And he's not spending any of it.Yes. And so when he says, I don't want to. Great. Don't buy anything you don't want to buy if you don't spend money, because you are waiting for this next shoe to drop. If you grew up very poor or you grew up where money was a stressor. Um, and your body sounds alarms around money. And so you have created an imaginary future Yes, we have been working on that. Currently we have a pretty high income to debt ratio. I'm a truck driver so I make around $6,000 a month plus my 4000 income. She works, she makes a little over 3000, about 3500 a month. So between the two of us, we have about 13,000 coming in.Okay.My car payment is about 500.Wait, you just told me you were debt free.That is, that is the only thing that I've been taking double payments on the car. We have a two year plan so I don't plan on going right now. And our plan involves purchasing an RV because we are extreme travelers.Okay. Do you have the money to purchase that rV?That is, that is the problem that I've running into. That's the, thatYouTube, or the Ramsey Network app. Remember, you're worth being well.

like I said, I have. I have basically a job if I wanted to waiting for me there as a nanny, and when I was working for them, I was making about as much as I'm making now.

Okay.

So I could either easily supplement this income with that.

That would be my caveat. I think if you want to make this move to be close to family, that's fine. But don't let it slow down your snowball progress knocking out this debt.

Or let me. Yeah, let me say it this way. You're not going to be the help that you can be and you want to be to your family members. If you move across the country and ride up and you're barely able to make rent and you are stressed and you're sick and your marriage falls apart, too, to. Okay, so I want you and your husband, if y'all make this move, it's. I think it's noble. I think it's great. And I think December is a great time to do this. Um, I probably wouldn't. George, tell me if I'm wrong here. I'd probably go into stork mode. I'd start stacking cash as much as we. I would try pay every month?Uh, right now my take home is about 8500.Why is it so. Oh, okay. I thought it was combined. I got scared.No, no. My wife take home was 4k before she leave for maternity leave. We have ten months old baby. She's not willing to go back before a year and a half. So right now she's making 1600 bucks growth from insurance, employment, and I'm making two k on the rental property that I like. It's. I have a mortgage helper in my house, a two bedroom that I'm renting out.Okay, what are you making from the rental? Two K 2000. So that's extra on top of your 8500. So currently as it stands, if your wife continues down this road. Hey, I'm not going to go back to work full time. Right now I'm making 1600. You guys are spending more than you make, correct?That's correct. Yes.I can see why you're drowning, my friend. Okay, let's try to develop a game plan here. Number one, your mortgage is the glaring problem here.So here's the story. Two years ago I bought this house, 1.4 million on Benz. The payment was around 5400, 5400. I was okay, so I was a variable. Now I'm paying 7200.You have to sell your house. You have to sell your house. It's too much.In October I can reduce it back with the fixed cost. I mean fixed rate of 4%. I can bring it down to maybe 5000, 805,900.It's still half of your income.You have to sell your house.That's still over half your income. So it's not going to solve the problem. Our perimeter for housing is 25% of take home pay and right now you are at 60% and you're saying, hey, one day maybe we can get it down to 55. It's not going to be a sustainable solution. You guys simply have too much house for. Even with an amazing income that you have or had, it's still a lot of mortgage for where you're at. And obviously the car loans are the other glaring problem. Now, if you sold these cars, could you get out of this thing? Are you underwater on them?The explanation for my car is stupid. I'm still calling it return was on tax was $30,000, which I have ten and I already spend 20.No one built wealth through tax savings. The problem is you're throwing away a $1,000 right now plus interest on all this while you're drowning. So, you know, I think at every turn we were like, hey, this is going to be the life hack. We're going to rent out this room, the government's going to give me a tax break and we're going to get out of this thing. And then life happens. You had a baby, which is a wonderful thing. And your wife said, I don't want to go back to work right now. And it's putting you guys in a bind. I'm assuming you guys aren't on the best of terms because you want her to go back to work because you feel the pain of the finances and she's going, I want to be with this baby. Right.I'm okay with her staying, staying out of work, but I don't want her to go back to regular job that she has. I really want her to open the smallest business that she can. Like, we need a corporate company that I can write off some of. I think that's the way I.Are you getting this idea that you're going to write off your way into building wealth and getting out of this debt? I don't think right off you have a solution to your problem.Your million dollar house and your $75,000, your car. You can't afford a man.Right now in Vancouver. I'm buying this house is a suburban house and is 20 years old.Dude, I know it's chaos. It is chaos. Expensive.I cannot defend or explain what the heck is happening in Canada? Don't worry.If I sell this house today and I go, I don't know if I, for example, if on a rent somewhere, the two bedroom, the smallest apartment goes for four k. Four thousand five hundred.Guess what? 4k is actually a reasonable amount for you to pay. And you might have to do that. And you're not throwing away money on rent. That's you building back a foundation because right now you told us you're drowning. And the reason is not because of a write off or whatever. The reason is because 60% of your take home pay is going toward the mortgage.Using your words, brother, you're in the ocean floating. And you used to be on a really nice boat and somebody just, somebody just rode up next to you in a canoe and you're like, yeah, not getting into that. That's not really how we roll. And they, they paddled away. And then a small fisherman came by and a small little John boat. And you're like, yeah, that's, that boat's gross. I'm not getting into that boat. And the whole time, brother, you're still bobbing in the ocean.My cat, my calculation could be off, but $7,200 that I'm paying right now, I can break it down to 6000 if I go fixed rate right now, if. And then I'm making two k on the rent and that's gonna put me on the 4k. Same, same spot again.Do you remember 24 months ago when Canada shut down?Shut down?I don't mean the whole country stopped spinning and people who were renting decided to not pay and they didn't have to. Do you remember that? Yeah, I just. Just a minute ago.Your life is teetering on this one tenant, and if they leave and you can't find another or they don't pay, this whole plan falls apart. We need a sustainable plan that doesn't involve the side rental business. So either you need to get your core income up, or we need to sell, downsize rent for a while, get rid of the debt and restart. But no more tax write offs. No more justifying, no more. The government's gonna do this. We've got to figure out a plan that works for the future of your family. And I wish you the best. And I know Canada. The numbers, John, are astounding.Canada. The housing's madness. The housing's madness.I can't fix that. But you've got to make a choice and you got to choose reality. And the reality is this is unsustainable. Thanks for the call Pam on this is the Ramsey show.Hey, folks, there's a lot of half baked investing advice out there, but here's what you can do to get more confident about this stuff. Check out the Smartvestor program. Smartvestor connects you with local financial advisors who have the heart of a teacher. They'll help you level up your knowledge and build a retirement plan based on your goals, not theirs. Go to ramsaysolutions.com smartvestor to get connected and get more confident about your plan. That's ramseysolutions.com smartvestor.Ramsey Solutions is a paid non client promoter of participating pros. Learn more ramsaysolutions.com smartvestor. Welcome back to the Ramsey show. I'm George Campbell, joined by doctor John Deloney. As you guys know, this is a call in show. You call triple 8825-5225 while we're on air. If you're lucky, you get patched through to doctor John. If you're unlucky, you get Ken, I'm kidding. But here's how this works. Occasionally we'll get voicemails when we're off air. And we thought it'll be fun to actually play one of those voicemails. Sometimes we get to schedule these calls, John, and sometimes, like today, we're going to do a new segment called sorry we missed your call. So explain how this works, John. What are we going to do next?Well, like, when you call me, I just don't answer. And then I see you in person, like, ah, sorry I missed your call. This isn't that case that we get, we get, we get cards and letters and countless thousands and thousands of direct messages and emails, and we get phone calls calling into the Ramsey show, and they leave messages on the machine. So we're going to play one of those messages here and then we're going to answer. Answer it.All right, let's get into this. Sorry we missed your call.Hello.I'm a huge fan of Dave Ramsey.I've got a net worth of roughly.Eight to $9 million. And my wife is totally frustrated with me that I only have one pair of shoes. I wear them everywhere. I wear them with suits. I wear them to go on the boat. I wear them everywhere. And I won't spend any money. She's like, you make 100,000 a month. She thinks I'm crazy, but I'm paranoid. I just don't want to spend any money. I'm always thinking about future, and I think that's how I got to where I am because I've been this way for 30 years. Have a good day.What an amazing call.That's one of my favorites. My favorite line is, she thinks I'm crazy, I'm paranoid, which is. Yup. All right.I also love the doctor seuss vibe he had. He's like, I have one pair of shoes. I wear them with suits. I wear them with boots. I wear them on boats. I wear them.I wear them with toots. All right, so here's the deal. When it comes to wearing one pair of shoes everywhere, I'd like to call you my hero. I'm down to two pair. I'm one that I run in and one that I wear everywhere. And you're a hero of mine.I switch pairs midday. I evening shoes.Oh, my gosh. He does. For his shoes. It's just the whole thing.But this feels.Earlier today, the name of your shoes.Yeah. You don't know the model. You get, like, a make and model because a fan out there said, john loved the dunks, and John had no idea what this man was saying. I said, john, those are nice. That's the model. It's fine. John is a man of struggle with.With. With friendship. So I. Hey, here's you. I love this. Here's the challenge. You are living a out of a heart and headspace of scarcity. And so there's this illusion that it's all coming down past the point where it's rational. And so when we talk about emotional health, do we continue to feel things that are no longer real? And the data is. Proves it out in front of us, yet we continue, our body continues to sound the alarms as though these things are coming at us right away. Right. Put in a quick, high yield savings account. At 5%, what's $8 million?What? It would grow.Yeah. A year. Okay, so, like, just sticking $8 million. Just. Just.That's 400 grand a year, which is.400 grand a year.That's not bad. Right?He's put you in the top 1% of earth.He said he's making a hundred thousand a month. So he's making $1.2 million a year.Yes.And he's not spending any of it.Yes. And so when he says, I don't want to. Great. Don't buy anything you don't want to buy if you don't spend money, because you are waiting for this next shoe to drop. If you grew up very poor or you grew up where money was a stressor. Um, and your body sounds alarms around money. And so you have created an imaginary future Yes, we have been working on that. Currently we have a pretty high income to debt ratio. I'm a truck driver so I make around $6,000 a month plus my 4000 income. She works, she makes a little over 3000, about 3500 a month. So between the two of us, we have about 13,000 coming in.Okay.My car payment is about 500.Wait, you just told me you were debt free.That is, that is the only thing that I've been taking double payments on the car. We have a two year plan so I don't plan on going right now. And our plan involves purchasing an RV because we are extreme travelers.Okay. Do you have the money to purchase that rV?That is, that is the problem that I've running into. That's the, thatYouTube, or the Ramsey Network app. Remember, you're worth being well.

pay every month?

Uh, right now my take home is about 8500.

Why is it so. Oh, okay. I thought it was combined. I got scared.

No, no. My wife take home was 4k before she leave for maternity leave. We have ten months old baby. She's not willing to go back before a year and a half. So right now she's making 1600 bucks growth from insurance, employment, and I'm making two k on the rental property that I like. It's. I have a mortgage helper in my house, a two bedroom that I'm renting out.

Okay, what are you making from the rental? Two K 2000. So that's extra on top of your 8500. So currently as it stands, if your wife continues down this road. Hey, I'm not going to go back to work full time. Right now I'm making 1600. You guys are spending more than you make, correct?

That's correct. Yes.

I can see why you're drowning, my friend. Okay, let's try to develop a game plan here. Number one, your mortgage is the glaring problem here.

So here's the story. Two years ago I bought this house, 1.4 million on Benz. The payment was around 5400, 5400. I was okay, so I was a variable. Now I'm paying 7200.

You have to sell your house. You have to sell your house. It's too much.

In October I can reduce it back with the fixed cost. I mean fixed rate of 4%. I can bring it down to maybe 5000, 805,900.

It's still half of your income.

You have to sell your house.

That's still over half your income. So it's not going to solve the problem. Our perimeter for housing is 25% of take home pay and right now you are at 60% and you're saying, hey, one day maybe we can get it down to 55. It's not going to be a sustainable solution. You guys simply have too much house for. Even with an amazing income that you have or had, it's still a lot of mortgage for where you're at. And obviously the car loans are the other glaring problem. Now, if you sold these cars, could you get out of this thing? Are you underwater on them?

The explanation for my car is stupid. I'm still calling it return was on tax was $30,000, which I have ten and I already spend 20.

No one built wealth through tax savings. The problem is you're throwing away a $1,000 right now plus interest on all this while you're drowning. So, you know, I think at every turn we were like, hey, this is going to be the life hack. We're going to rent out this room, the government's going to give me a tax break and we're going to get out of this thing. And then life happens. You had a baby, which is a wonderful thing. And your wife said, I don't want to go back to work right now. And it's putting you guys in a bind. I'm assuming you guys aren't on the best of terms because you want her to go back to work because you feel the pain of the finances and she's going, I want to be with this baby. Right.

I'm okay with her staying, staying out of work, but I don't want her to go back to regular job that she has. I really want her to open the smallest business that she can. Like, we need a corporate company that I can write off some of. I think that's the way I.

Are you getting this idea that you're going to write off your way into building wealth and getting out of this debt? I don't think right off you have a solution to your problem.

Your million dollar house and your $75,000, your car. You can't afford a man.

Right now in Vancouver. I'm buying this house is a suburban house and is 20 years old.

Dude, I know it's chaos. It is chaos. Expensive.

I cannot defend or explain what the heck is happening in Canada? Don't worry.

If I sell this house today and I go, I don't know if I, for example, if on a rent somewhere, the two bedroom, the smallest apartment goes for four k. Four thousand five hundred.

Guess what? 4k is actually a reasonable amount for you to pay. And you might have to do that. And you're not throwing away money on rent. That's you building back a foundation because right now you told us you're drowning. And the reason is not because of a write off or whatever. The reason is because 60% of your take home pay is going toward the mortgage.

Using your words, brother, you're in the ocean floating. And you used to be on a really nice boat and somebody just, somebody just rode up next to you in a canoe and you're like, yeah, not getting into that. That's not really how we roll. And they, they paddled away. And then a small fisherman came by and a small little John boat. And you're like, yeah, that's, that boat's gross. I'm not getting into that boat. And the whole time, brother, you're still bobbing in the ocean.

My cat, my calculation could be off, but $7,200 that I'm paying right now, I can break it down to 6000 if I go fixed rate right now, if. And then I'm making two k on the rent and that's gonna put me on the 4k. Same, same spot again.

Do you remember 24 months ago when Canada shut down?

Shut down?

I don't mean the whole country stopped spinning and people who were renting decided to not pay and they didn't have to. Do you remember that? Yeah, I just. Just a minute ago.

Your life is teetering on this one tenant, and if they leave and you can't find another or they don't pay, this whole plan falls apart. We need a sustainable plan that doesn't involve the side rental business. So either you need to get your core income up, or we need to sell, downsize rent for a while, get rid of the debt and restart. But no more tax write offs. No more justifying, no more. The government's gonna do this. We've got to figure out a plan that works for the future of your family. And I wish you the best. And I know Canada. The numbers, John, are astounding.

Canada. The housing's madness. The housing's madness.

I can't fix that. But you've got to make a choice and you got to choose reality. And the reality is this is unsustainable. Thanks for the call Pam on this is the Ramsey show.

Hey, folks, there's a lot of half baked investing advice out there, but here's what you can do to get more confident about this stuff. Check out the Smartvestor program. Smartvestor connects you with local financial advisors who have the heart of a teacher. They'll help you level up your knowledge and build a retirement plan based on your goals, not theirs. Go to ramsaysolutions.com smartvestor to get connected and get more confident about your plan. That's ramseysolutions.com smartvestor.

Ramsey Solutions is a paid non client promoter of participating pros. Learn more ramsaysolutions.com smartvestor. Welcome back to the Ramsey show. I'm George Campbell, joined by doctor John Deloney. As you guys know, this is a call in show. You call triple 8825-5225 while we're on air. If you're lucky, you get patched through to doctor John. If you're unlucky, you get Ken, I'm kidding. But here's how this works. Occasionally we'll get voicemails when we're off air. And we thought it'll be fun to actually play one of those voicemails. Sometimes we get to schedule these calls, John, and sometimes, like today, we're going to do a new segment called sorry we missed your call. So explain how this works, John. What are we going to do next?

Well, like, when you call me, I just don't answer. And then I see you in person, like, ah, sorry I missed your call. This isn't that case that we get, we get, we get cards and letters and countless thousands and thousands of direct messages and emails, and we get phone calls calling into the Ramsey show, and they leave messages on the machine. So we're going to play one of those messages here and then we're going to answer. Answer it.

All right, let's get into this. Sorry we missed your call.

Hello.

I'm a huge fan of Dave Ramsey.

I've got a net worth of roughly.

Eight to $9 million. And my wife is totally frustrated with me that I only have one pair of shoes. I wear them everywhere. I wear them with suits. I wear them to go on the boat. I wear them everywhere. And I won't spend any money. She's like, you make 100,000 a month. She thinks I'm crazy, but I'm paranoid. I just don't want to spend any money. I'm always thinking about future, and I think that's how I got to where I am because I've been this way for 30 years. Have a good day.

What an amazing call.

That's one of my favorites. My favorite line is, she thinks I'm crazy, I'm paranoid, which is. Yup. All right.

I also love the doctor seuss vibe he had. He's like, I have one pair of shoes. I wear them with suits. I wear them with boots. I wear them on boats. I wear them.

I wear them with toots. All right, so here's the deal. When it comes to wearing one pair of shoes everywhere, I'd like to call you my hero. I'm down to two pair. I'm one that I run in and one that I wear everywhere. And you're a hero of mine.

I switch pairs midday. I evening shoes.

Oh, my gosh. He does. For his shoes. It's just the whole thing.

But this feels.

Earlier today, the name of your shoes.

Yeah. You don't know the model. You get, like, a make and model because a fan out there said, john loved the dunks, and John had no idea what this man was saying. I said, john, those are nice. That's the model. It's fine. John is a man of struggle with.

With. With friendship. So I. Hey, here's you. I love this. Here's the challenge. You are living a out of a heart and headspace of scarcity. And so there's this illusion that it's all coming down past the point where it's rational. And so when we talk about emotional health, do we continue to feel things that are no longer real? And the data is. Proves it out in front of us, yet we continue, our body continues to sound the alarms as though these things are coming at us right away. Right. Put in a quick, high yield savings account. At 5%, what's $8 million?

What? It would grow.

Yeah. A year. Okay, so, like, just sticking $8 million. Just. Just.

That's 400 grand a year, which is.

400 grand a year.

That's not bad. Right?

He's put you in the top 1% of earth.

He said he's making a hundred thousand a month. So he's making $1.2 million a year.

Yes.

And he's not spending any of it.

Yes. And so when he says, I don't want to. Great. Don't buy anything you don't want to buy if you don't spend money, because you are waiting for this next shoe to drop. If you grew up very poor or you grew up where money was a stressor. Um, and your body sounds alarms around money. And so you have created an imaginary future Yes, we have been working on that. Currently we have a pretty high income to debt ratio. I'm a truck driver so I make around $6,000 a month plus my 4000 income. She works, she makes a little over 3000, about 3500 a month. So between the two of us, we have about 13,000 coming in.Okay.My car payment is about 500.Wait, you just told me you were debt free.That is, that is the only thing that I've been taking double payments on the car. We have a two year plan so I don't plan on going right now. And our plan involves purchasing an RV because we are extreme travelers.Okay. Do you have the money to purchase that rV?That is, that is the problem that I've running into. That's the, thatYouTube, or the Ramsey Network app. Remember, you're worth being well.

Yes, we have been working on that. Currently we have a pretty high income to debt ratio. I'm a truck driver so I make around $6,000 a month plus my 4000 income. She works, she makes a little over 3000, about 3500 a month. So between the two of us, we have about 13,000 coming in.

Okay.

My car payment is about 500.

Wait, you just told me you were debt free.

That is, that is the only thing that I've been taking double payments on the car. We have a two year plan so I don't plan on going right now. And our plan involves purchasing an RV because we are extreme travelers.

Okay. Do you have the money to purchase that rV?

That is, that is the problem that I've running into. That's the, thatYouTube, or the Ramsey Network app. Remember, you're worth being well.

YouTube, or the Ramsey Network app. Remember, you're worth being well.