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Chapter 1: What is discussed at the start of this section?
Live from the headquarters of Ramsey Solutions, it is The Ramsey Show, where we help people build wealth, do work that they love, and create actual amazing relationships. Talking about the real thing. I am your host, Jade Warshaw. I am joined by maybe my favorite co-host ever, Dr. John Deloney, over here to my right. We're going to have a good time. Give us a call. The number is 888-825-5225.
We'll talk about your life. We'll talk about your money. We'll talk about your mental health and wellness. But before we get into that, Dr. John, we were just in the NYC.
We were in New York City this morning.
Partying in the USA.
We were partying in the USA. We were in New York for a media dinner. We got to sit and hang out with a whole bunch of cool folks yesterday. And then we did some media this morning. And then we got on a plane and flew here just in time to save America.
I'm like pinching myself.
Somebody has to. Good grief.
I'm like, what is happening? I went on social media yesterday and I was like, all right, you know, come check out the TV. We'll be on Fox News with, you know, America's Newsroom. I was like, wow, that's crazy. Then this morning I was like, hey, come check out the TV. We'll be on here with Fox and Friends. I was like, wow, that's crazy. Our life is just... Really been cool.
And it's all thanks to you guys. Thanks for listening to the show. Thanks for sharing the show. Thanks for tuning in whenever we talk. We couldn't do it without you guys. And without further ado, we got to take it to the phone lines. We got Jessica in NYC. We just came from there. Jessica, what's going on?
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Chapter 2: How do I decide between taking a pension as a lump sum or payments?
Thank you. Those kids in New York are lucky to have you. and you're modeling for them what a hard worker looks like and a thinker looks like, I'm so grateful.
That's awesome. In more ways than one. I love how she's wanting to take care of her family. I love when people really dial into their money, not just for the now, but for the future, because the choices we make can cost us hundreds of thousands of dollars when it comes to investing, what we're looking at, what we're not looking at.
So I always admire when people are smart enough and diligent enough and intentional enough to call in and really get the right advice for their money.
Hey, and by the way, This is just an N equals one experiment, but my parents both changed careers in their 50s, and they are incredible into their 70s. So your husband says he's not going to have anything. He could if he chose right now to start doing something different. It's not too late.
This is The Ramsey Show. What's going on, everybody? You're listening to The Ramsey Show. Thank you for listening. I'm your host, Jade Warshaw, joined by John Deloney. Give us a call. We'd be happy to take your call. We'll discuss whatever you want to, as long as it has something to do with your money or your mental health.
John over here is really the best guy to talk about mental health and wellness. Tell him what you do, John.
I'm not the best guy. There's some really good ones out there, but we'll talk to you about your relationships, mental health, whatever's going on in your world, your emotional health. Life has gotten sideways for everybody and it's a mess. It's a mess.
I like the way you talk about things though, because for me, there's no like lingo. Like it's not over my head. It's like, oh, I can do that. Like that's me. He's talking to me. So. That's one of the things I like about the way you speak to the people, John, including me. I'm one of those people. But give us a call, 888-825-5225, and we'll chop it up. We got Ashley in Columbus, Ohio.
What's going on, Ashley? Hi, how are you both? Doing good. How are you?
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Chapter 3: What should I do about unexpected medical bills?
I'm worth fixing all this stuff, okay? The funny thing, you calling me and Jade 70,000 bucks doesn't make either of us blink because we've both had way, way, way more debt than that, okay? And both of us have gone through ups and downs. So, same team, all right? The $50,000 car that you owe 46 grand on, that's sold by the end of next week, right?
Yeah. Yeah, and I've tried selling the car already. I just owe so much money on it, and they will only give me like $34,000. Who? I don't have any money to pay for the upside down.
If you look on kellybluebook.com, what's the car worth? Or have you done that yet?
I've done it, yeah. $35,000.
So it's worth $35,000, you owe $46,000, so $10,000 upside down.
Yeah.
9K. All right. We're going to deal with that. We're still getting out of this car because at this point, $40,000 is worth it to take a $10,000 hit. So we're going to talk about that.
Real quick, why are you only making $20,000, man?
Well, I don't know how to do much. That's not true.
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Chapter 4: What challenges does Kylie face with her husband regarding their finances?
More awesome than our first half. And so we've got people from all over the spectrum. Hope you'll join us. RamseySolutions.com slash events.
Like that. Let's go to Detroit. We got Kylie. What's going on, Kylie? Hi there. Hey. Thanks for taking my call. You bet. What's going on?
Okay. So my husband and I are in a situation. So right now we are just not making end meet. We're in the negative every month. And I'm trying to figure out if we bankrupt or if we, I don't know. We don't see another way. We're just trying to figure that out right now.
Chapter 5: How can they tackle their $115,000 debt effectively?
So the bills that you have, we're not paying the bills that we have. And I'm assuming there's debt as well, right?
Yeah.
So we're paying our bills. We're not behind on food, house, electricity. We're taking care of ourselves. And you're paying minimums on the debt as well?
Yes. Okay. So can you kind of list out the debt for us?
Chapter 6: What should be considered before pursuing a master's degree?
Yes. So we have $80,000 in student debt, which we're not paying out. And I'm in school, so it's all deferred. That doesn't exist.
Are you still accruing student loan debt? Um, I think technically it opens up this weekend, right? No, I mean, you said you're still in school. So I'm saying, are you still continuing to take loans? I am getting, yeah. Girl, we're going to talk about that. We'll talk about that. Let's take it one thing at a time though. So, so far we've got the 80,000 in student loans. What else?
Yes.
Chapter 7: How can they prioritize their financial goals amidst current struggles?
Um, and we have 30,000 in personal loan. There's 25 personal loan and then, um, another 5,000 is credit cards.
Okay.
Um,
And so you're in school. Are you working at all while you're in school? I work part-time from home. We have four kids and we homeschool. Oh, wow. Part-time from home, four kids, you're homeschooling. What are you earning working part-time from home?
I bring home around $21,000 a year.
Okay. And what is your husband earning?
He is making right now, he just got a new job in his new degree field and he's only making $36,000 a year.
What is he doing?
He's doing software support, so he went and got his IT and coding stuff, and he couldn't find a better job.
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