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Chapter 1: What is discussed at the start of this section?
Live from the headquarters of Ramsey Solutions, it's the Ramsey Show. We help people build wealth, do work that they love, and create amazing relationships. I'm Dave Ramsey, your host, Ken Coleman, number one best-selling author, host of the Ken Coleman Podcast on the Ramsey Networks, is my co-host today. So you want to talk about jobs or careers?
Well, he's here, and we can work that in for sure. because we talk about all parts of your life here on the show and how we can make it all work together so you get a better one. Open phones at 888-825-5225. That's 888-825-5225. Rob's in Los Angeles. Hey, Rob, welcome to The Ramsey Show.
Hey guys, absolutely love the show. So, big fan, follow most of your advice. My question is about romance and how to keep it alive with a joint bank account. So, my wife and I recently got married and we're doing what you suggested, having one centralized checking account. But my question is, what do you do on Valentine's Day or her birthday?
I don't particularly want her to know how much I spent on flowers or if I take her out for a meal, you know, how much it costs. So, what would you guys suggest? You'll get over that.
The longer you're married, the less that matters. Because actually, Sharon and I go out to dinner for Valentine's after 43 years, and we play guess the check before it comes. We want to see who can guess the closest to what it's going to be. So it'll work out. Now, I'm messing with you, but that's a sweet, wonderful question. Thank you. Okay. So I guess there's a cup.
I mean, we just need a mechanical way to fix it. So you've got some money that is spent towards her, but she doesn't know what it is. And so I guess around Valentine's Day, you could, as an example, around her birthday or something like that, you could increase your Rob spending account because you should have a his and her account for blow money. Right.
Yeah, we have a guilt-free account. Yeah. Guilt-free account. Okay.
Let's increase your guilt-free account around that time. And she knows that we've increased the amount, but she doesn't know what you spent on the particular items then.
Got you.
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Chapter 2: How can I keep romance alive with a shared bank account?
Charlotte's with us in West Palm Beach, Florida. Hi, Charlotte. How are you? Hi, Dave. How are you? Better than I deserve. How can I help? I have a question. So during COVID, we decided to put some money in stocks. And now we made enough on the stock market to pay off our house.
My husband really wants to because Florida is going crazy with insurance and taxes, and it's just going crazy down here. So he really wants to take the money out of the stocks and pay off the mortgage. How do you feel about that?
What do you want to do?
I don't know. I'm torn. How much is the mortgage? I watch it go up and I watch it go down. We pay $2,500 a month on our mortgage. How much is your balance on the mortgage? About $100,000. Okay. How much you got in stock value? About $120,000. Okay. Let's pretend your house was paid for and you didn't have any stock. Like you did what he wants to do. Okay.
Would you go borrow on your house to buy stock? No. Same thing. We want to move. Stop, stop, stop. You drove right past that. It's the exact same thing. If you had a paid-for house and no stock, go borrow a mortgage to put the money in the stock market. It's just reverse engineered.
It's the exact same thing as you taking this stock and paying off this house before close of business today, which is what I would do. I have never in 32 years of doing this radio show had anybody call me back and go, I paid off my house and I hate you, Dave Ramsey. That has never happened. There's a lot of people hate me for a lot of stuff, but that's not one of them.
okay pay off your house today okay do it by the end of the week have a little mortgage burning party with a little dance and stuff in the backyard on friday night pay it off this week you sound like him he's just ready okay okay thank you so much sorry charlotte he wins the argument he's right and you're gonna love it i think i figured that i figured that you called me and asked that question you knew it yeah
That's why I asked. I was like, what do you want to do? Because when you lead with my husband once, we know where that's going. And, you know, it's funny for her. She's kind of reconciling that. She's like, I'm watching it go up, go down. But she really wants to ride that wave. Well, they made some money. They did. And she's going, I like the way that feels.
I want to do that again. That's exactly what it is.
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Chapter 3: What should I do if my spouse doesn't know about my spending?
So what you do is you take the $2,500 a month that you don't have anymore, round that up to $3,500, and go if you want to do single stocks. I don't. I don't like the risk of it. Right. But if you want to do that, then throw some money in there and just watch that money grow. And now you've got a paid-for house in the backdrop.
That's exactly what I would do.
You breathe different when your house is paid for. The air goes more deeply into your lungs. It is a physical manifestation of peace, financial peace. Two words that don't go together like airline service, right? That's exactly right. I mean, it's just, you know, whew. Delta.
Chapter 4: How can I prepare financially for my spouse's birthday or Valentine's Day?
What's that mean? It means, when you look it up in the Greek, we're probably not going. That's what it means.
Oh, ouch. Deep, deep. The airline jokes. Financial peace. Yeah. Well, but here's the investment reality, too, though, Dave. It's that that $100,000 in equity is no risk compared to the $120,000 of the stock. Yeah. Because that could go up and down, but your house is not going to do that. Not in Florida.
Hello. You could get... biden re-elected or trump elected or the world could come to an end which is probably similar at this rate maybe that's the best option see none of the above yeah i know where i'm going it's a lot better there this is the ramsey show Ken Coleman, Ramsey personality, number one bestselling author of the book Paycheck to Purpose. He's my co-host today.
Erica is with us in Huntsville, Alabama. Hi, Erica. Welcome to the Ramsey Show. Hi, Dave. Thanks for taking my call. Sure. What's up? So I'm going to give you a little bit of background so you can understand the situation I'm in. I moved to the U.S. by myself when I was 21 and I worked as a nanny until I was about 28.
And when I was 28, I finally had the opportunity to go to college and I pursued a physics degree. And in college, I got as many opportunities that I could because I wanted to build my resume and have actual work experience. So I got another internship. I did three research teams. I was a physics TA. I published a paper.
And I got a job right after college as a developer, and I'm making $40,000 a year. But I'm moving to Atlanta soon. I only have 10 days left at work. And I have been looking for a job since then.
October and I haven't even gotten an interview yet and the people who went to college with me they all got really good jobs they have the same background as me but they found jobs in engineering and tech but I can't seem to find anything and I don't understand why and now I'm having to pay back my student loans and things are getting tough
Erica, so let me ask you this. What have you done when you say, I haven't been able to find anything? Does that mean you haven't been accepted in the form of getting hired, or you just literally are having a hard time ideating and selecting things to do with that physics degree?
No, I actually have been applying to lots of jobs, and I haven't gotten an interview. I applied for tech, engineering.
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Chapter 5: What should I consider when choosing between a stable job and pursuing my dream career?
Sure. What's up? Hey, so I have a question regarding my career. So a while back, about a month and a half ago, I kind of asked myself the age-old question of, if I could wake up and do any job in the world, what would I be doing? Such a great question. And I came across the answer of being a pilot. Oh, fun.
Because for a while, I've been interested in planes and aviation, and I've been to a bunch of aviation museums across the country, and it's just been something I've been interested in a long time, before a long time. And... After doing research on the career, it's a lot. Training's expensive. A lot of time and money. Training's expensive.
Job security is iffy depending on when you enter the market and when you finish your training.
Chapter 6: How can I financially prepare for the possibility of losing a spouse?
So it's a lot. And I have a very stable career right now. I make decent money for what I do. So I'm kind of stuck in a head versus heart situation.
No, I don't think you're stuck. I think you're scared, and I would be scared at this kind of staring at this giant mountain of time and money that is the transition you're going to have to make. But I would say that the stable job is it's your platform, it's everything, and whatever you choose to do, if we choose to go the pilot route –
you're not choosing between these things, and there is no head and heart wrestling match. I know what you're talking about, and I use that analogy a lot, but the only thing that's happening is your heart knows it wants to be in the air, and your head's going, this is absolutely excruciatingly hard, and some days the brain's telling you it's impossible.
And so what we have to do is get the head aligned with the heart. And so the heart says, this is what we want to do. And then we go, okay, how would we go about getting there? And here's the question for you, Ian, since you went with the metaphorical question.
Chapter 7: What are the risks of leveraging debt while following Ramsey's methods?
If you're willing to do what it takes, are you willing to wait as long as it takes?
Absolutely.
All right. Now we got an answer. And I want to just get real personal for a second. I was 33 years of age when I got to a conclusion that I was supposed to go into broadcasting, but I had no degree in it and zero experience. And everybody I talked to in Atlanta told me I was too old. And truthfully, I was. 33 is ancient to get into broadcasting.
But my wife and I sat down on one very specific night, and I looked at her. I needed to know if she was willing to go all in with me on this because I told her I thought it was going to be five to seven years before I caught a major break. It ended up being seven years when Dave asked me to join him, and it was two and a half more years of pay and dues, so about nine years.
So if you're willing to wait, and it may be five, seven, nine years, depending on your financial situation, if you're willing to wait as long as it takes,
then i would go for it and that means you're going to be stable in a day job the entire time because we must stay stable and then we build we build we build we build you get your hours you get your licenses you put the hours in there because you got to get the fly errors in there the hours in the air that's right under your belt there's no exception to that
The only way to get around that and short circuit it is join the Air Force. That's right. Or the Air National Guard, where they will train you and pay you. That's right. And it's a full time gig. And when you finish your service time, you come out a pilot and you're ready to go. That's if you get approved. Now, you could make that route.
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Chapter 8: How do I protect my financial future after losing my parents?
But otherwise, you're going to be a weekend warrior at the airstrip, and everybody over there is going to know you. And you may even be doing some light instructing or something as you go along to keep your costs down on your time in the air.
How many years, based on your financial situation, have you mapped this out, how long it's going to take you to save up the money? Because you know we don't want you to go into debt just in order to get in a big old plane. What's it going to look like?
Yeah, I've thought about that. I actually ran the numbers a bit ago, and in theory, I should be able to cash flow flight school by the summer of 2026, assuming I'm working full-time while going through flight school.
Great. Man, that's two years to get started. What's it look like, the full timeline on the other side of that, when you're ready to get hired?
So from what I've heard, it's generally 18 to 24 months to go from zero hours to a commercial flight instructor, which is the most common way to build hours. And then after you get commercial flight instructor, it takes around another two, three years, depending on how many flight hours you get. It depends a lot on region, weather, stuff like that, students, how big the school you work for is.
Mm-hmm.
Yeah, but it's very doable.
So from zero hours to air transport pilot license minimums, generally it's three to six years.
Okay, so let's split the difference, right? So let's say four and a half, and that's starting at 2026. So by 2030-ish, we're ready to roll.
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