4 Steps That Will Secure Your Financial Future


Transcript

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- In Baby Steps 1 through 3,

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you're working hard for your money,

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but in these next Baby Steps,

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I'll show you how your money
is gonna work hard for you.

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(upbeat music)

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All right, I'm so excited

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to wrap up the last part of our series

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on Ramsey's 7 Baby Steps today,

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which, by the way, has been so much fun.

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Okay, in this episode,

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we're going to talk through
the four remaining steps.

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And spoiler alert, we have two

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of my very favorite people
coming on this episode:

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Dave Ramsey and Chris Hogan.

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Yes, to show you how to build wealth

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and never worry about money again.

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Now, in case you missed
the last few episodes,

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let's quickly go over Baby Steps 1, 2, and 3.

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Baby Step 1 is your
starter emergency fund

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of $1,000.

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Baby Step 2 is paying off
all of your debt but your house

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using the debt snowball.

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And Baby Step 3

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is bumping up that starter emergency fund

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to three to six months of
expenses saved in the bank

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for a fully funded emergency fund.

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All right, the four steps

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that we're gonna walk through today,

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they're the whole reason why you made

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all the crazy sacrifices you
did in the first three steps.

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These next steps

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are the reason you haven't seen
the inside of a restaurant,

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it's why you've eaten rice and beans,

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you picked up the extra jobs you have,

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you've had hard conversations
with your spouse,

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you told your kids no—

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it's all for this next season right here.

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So, you took care of your past
with Baby Steps 1 and 2,

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you took care of your right
now with Baby Step 3,

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and now it's time

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to set yourself up for
success in the future

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with Baby Steps 4 through 7.

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Listen, have you guys ever done that face app

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where you look really old?

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Well, this next step is about
your old, wrinkled selfie

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thanking you for your current self. Yes.

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Because guess what?

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65-year-old you, she doesn't wanna work.

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She's raised babies. She's worked hard.

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Now, she can do whatever
she dang well pleases.

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That's right, Baby Step 4

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is all about retirement investing.

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So, you wanna invest 15% of
your income into retirement.

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And I'm so excited to talk
to you about this Baby Step.

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(light piano music)

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- Hey, are you rolling?

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Dude, roll the cameras.

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All right, listen to me,

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I just hijacked The Rachel
Cruze Show. I'm so excited.

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She's out getting a snack or something.

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I locked the door. She's barricaded out.

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She can't come back.

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I have you for just a few minutes,

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and I want to talk to
you all about something:

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Baby Step number 4.

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This is a big deal.

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This is your opportunity to
start to fund your dreams.

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Have you ever thought about that?

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See, most people use 401(k)s and 403(b)s,

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all these fancy acronyms,

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but at the bottom of it, we're
talking about your dreams—

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the things that you wanna do for yourself

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and your family in the future.

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So, Baby Step number 4 is
to invest 15% of your income.

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You have to invest.

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Listen to me, if you don't invest,

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you won't have any money to spend later.

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You need to think about that.

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And a lot of people will say,

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"Well, Chris, Social
Security will save the day."

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No it's not.

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Okay, you have to make sure that
you're providing for yourself.

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If Social Security is there,

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I want you to think of it
as the icing on the cake,

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but not the cake.

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That means you put money away
for yourself and your family.

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So you wanna be intentional.

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Remember, you don't do this Baby Step

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until you've already got
yourself out of debt,

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you 've built up your fully
funded emergency fund,

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and now you can do this.

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Most people are spending 24–25%
of their income on debt.

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Well, you got your money
back by getting out of debt,

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so now you can invest.

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So you wanna sit down
with a SmartVestor Pro.

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I know Rachel's told you about them.

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Sit down, talk with them,

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have them review your 401(k) or
your 403(b), and get started.

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Now, you also have other
options where you can invest:

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Roth 401(k)s, Roth IRAs.

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Whenever you hear the word Roth,
I want you to get a tingly.

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Okay, look, I just got the goosebumps,

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because it means tax-free.

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It means the money that you
put in is gonna grow tax-free.

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Uncle Sam can't touch it.

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Wait, was that Rachel? Keep
the door locked. I'm not done.

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Okay, listen to me. So, you
invest for your future,

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stay intentional, and you can do this.

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And remember, as you invest
this money, don't ever touch it.

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You have an emergency fund.
This is about your dreams.

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And don't ever let anyone tell you

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that you can't chase
your dreams and grab it.

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As I tell people on my show,

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you stay focused because
you're not finished.

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(upbeat musical chords)

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- Well, Hogan hijacked Baby Step 4,

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so it looks like I'm now
gonna walk you through

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Baby Step 5.

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And Baby Step 5 is to
save for your kid's college.

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So, you do this so that
your kids don't turn into

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another sad student loan statistic

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that we see all over the news.

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So, when you do this step, again,

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you're gonna do Baby Steps
4, 5, and 6 together.

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So, 15% of your income's
going to retirement,

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and then you're gonna be
investing in your kid's college.

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So, when you invest in your kid's college,

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I recommend an ESA, an
Education Savings Account,

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or a 529 plan.

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Now, if you're wondering
how much to invest,

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it's really gonna depend
on your situation.

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So I don't have a recommended
percentage or dollar amount

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because it's a personal decision,

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and there's several
factors that go into this.

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So, how old are your kids?

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Do they plan on going to college?

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Are they gonna go to a two-year school,

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or a four-year school, or a trade school?

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What degree do they want?

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Are they gonna have to
get a masters degree?

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There's so many factors
that play into this.

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And so, I know, for Winston and I,

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we've made this a priority.

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We do the Baby Steps. I know
you're shocked, but we do, yes.

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So we fund the girls' ESAs every year.

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So, obviously, the earlier you can start

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investing in your kid's college,

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the better off you're gonna be,

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but that's not the case for everyone,

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again, depending on how old your kids are.

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Now, I've seen parents do three options

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when it comes to paying
for their kid's college.

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One option is that your
kids pay for everything.

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And you know what?

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That's okay.

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That is not child abuse.

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Because if you have kids
going to college soon

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and you don't have money saved up,

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that's gonna be their option.

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And again, it's not bad,
it's just the reality.

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Number two: Parents match
what their kids put in.

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So their parents make them
have a little skin in the game,

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which I kinda like, it's kinda good.

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Or number three: Parents
pay for everything.

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So, again, three different
options you can look at

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when it comes to paying
for your kid's college.

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So if you really wanna
get into the specifics

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of what's best for your family,

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I'll put a link in the show notes

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to connect you with an investing
professional in your area.

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Now, one question I get a lot is,

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why don't I fund my kid's
college before my retirement?

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Because my kids are gonna go
to college before I retire.

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Listen, you can be a
little selfish here, okay?

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Because here's the deal:
You are going to retire

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no matter what. Like, it's gonna happen, okay?

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Your kids may or may not go to college,

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and there's 1,001 ways

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that they can pay for college.

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But there's only one way for you to retire.

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So, you wanna put yourself first.

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Think about the plane analogy.

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When you're traveling with multiple kids,

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they always say put your mask on first

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and then your children's.

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Because if you're done, you can't help them.

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And just like Southwest
Airlines always says,

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if you have two kids,

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make sure to choose the one
with the most potential first.

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(laughs) I love that.
It always makes me laugh. (laughs)

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Okay, now, if you have kids
going off to college soon,

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and you don't have time to invest,

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remember, choose a school
that they can afford.

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Help them in this. Their
school choice is huge.

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In-state tuition, community college—

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go to a school they can afford.

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Apply for scholarships and
grants, and then have them work.

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There is a way to go to college today

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without student loan debt.

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All right, coming up
next, Chris Hogan is back,

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and without further ado, Dave Ramsey.

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(upbeat musical chords)

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Family is one of the most
important parts of my life,

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and making sure everyone is
taken care of is a top priority.

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That includes more than
just meal planning,

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entertaining the kids,

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and taking care of all
the day-to-day needs.

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That's why I recommend
having life insurance.

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Now, when you're shopping
for it, you might wonder,

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should I get term life insurance
or whole life insurance?

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I always recommend term insurance.

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It's going to save you tons of money

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that you could put toward
paying off your debt

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and funding your emergency fund.

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For a 30-year-old male,

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a 20 year, $250,000 policy

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would cost just $15 a month for term life.

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However, the same policy for whole life

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would be $190 per month.

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That is a huge difference.

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Winston and I use Zander Insurance.

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They do all the work for you

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by finding you the best
prices and options,

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customized to your needs.

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To learn more, call Zander
today or go to zander.com

0:08:43.520,0:08:46.482
because that's who we trust
to take care of our family.

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(upbeat musical chords)

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All right, guys, we are
on Baby Step 6 now,

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which is: Pay off your house early.

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Now, this is an exciting
step. This is so fun.

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But what's hard is that, you watching,

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you're probably still paying
off your student loans,

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your credit cards—you're in Baby Step 2.

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So Baby Step 6 may
seem a little far out,

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and it can be a little daunting,

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but I promise, it is a great
step, and it's motivation

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because this is where you're
going—this is the future.

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So, when we look at Baby Step 6 . . .
Chris Hogan, Dave Ramsey,

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thanks, y'all, for being here.

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- Thank you.

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- You're just the experts in
the whole area, so welcome.

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Glad you're here. So glad you're here.

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So, a few things that I hear with people

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when they talk about paying
off their house early

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is that, they say, okay, I
don't want to pay it off early

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because it's just not
that big of a deal.

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But, Hogan, you see that this is huge for,

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specifically with millionaires—

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people that are everyday millionaires—

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this is a big step for them.

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- It really is. And Rachel, as you know,

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we did the largest study

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that's ever been done on millionaires.

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We talked to over ten thousand of them,

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and what we found is
that these millionaires

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are very, very focused,
and very intentional.

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And they're paying off their
home in just under 11 years.

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So, if you think about
that, that's a massive move

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and a big step in their overall net worth.

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So paying off the home is a huge step

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on your everyday millionaire journey.

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- Which is huge.

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So with your net worth,
obviously, it makes a huge dent.

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But also, with your monthly budget.

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If you think about it,
if you're 50 years old

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and you have a paid for house,

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the next 30 years of your life,

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you don't have a mortgage payment.

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- What would it be like
to have no payments?

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I mean no mortgage payment. Wow.

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- Now, another myth I hear is, people say,

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I wanna keep my mortgage
because of the tax deduction.

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And this is something that
we combat all the time.

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And so, what would you say?
How would you answer that, Dave?

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- It's just silly.

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I mean, the math is ridiculous.

0:10:30.686,0:10:35.311
Because if you take a $200,000
mortgage at 5% interest,

0:10:35.311,0:10:39.040
that's $10,000 a year that
you're sending in interest.

0:10:39.040,0:10:43.460
Now, you can deduct that
only if you itemize.

0:10:43.460,0:10:47.770
And statistically, less than
10% of Americans itemize.

0:10:47.770,0:10:51.300
So this is a mythological
discussion among broke people.

0:10:51.300,0:10:52.810
That's what it amounts to.

0:10:52.810,0:10:56.080
So it doesn't apply. In
your standard deduction,

0:10:56.080,0:10:58.400
you don't take the deduction
for your charitable giving,

0:10:58.400,0:11:01.020
you don't take the deduction
with a standard deduction

0:11:01.020,0:11:01.900
for your home interest rate.

0:11:01.900,0:11:04.620
But if you did, where you
have $10,000 in interest

0:11:04.620,0:11:06.180
going out to the mortgage company

0:11:06.180,0:11:08.010
and you're in a 22% bracket,

0:11:08.010,0:11:09.368
which means you're making
like $80,000

0:11:09.368,0:11:10.860
household income,

0:11:10.860,0:11:14.060
that saves you, not $10,000 on your taxes—

0:11:14.060,0:11:17.778
it's $10,000 less income
that you pay taxes on.

0:11:17.778,0:11:22.760
At 22%, that means it
saves you $2,200 in taxes.

0:11:22.760,0:11:24.220
So what you're effectively doing

0:11:24.220,0:11:27.280
is, you're sending the
mortgage company $10,000

0:11:27.280,0:11:30.685
to keep from sending
the government $2,200.

0:11:30.685,0:11:32.420
And that's only if you itemize.

0:11:32.420,0:11:36.510
And that just shows how
ridiculously stupid the idea is.

0:11:36.510,0:11:38.090
You're trading a dollar for a quarter,

0:11:38.090,0:11:39.357
and you're not gonna get ahead doing that.

0:11:39.357,0:11:42.740
- Right, would you rather
pay out $10,000 or $2,200?

0:11:42.740,0:11:44.960
If you'd like to pay out
$10,000, you can call me.

0:11:44.960,0:11:47.180
We'll put my cell phone number
at the bottom of the screen,

0:11:47.180,0:11:50.050
and you can give me that. (laughs)
But yeah, it is, it's just the math.

0:11:50.050,0:11:52.038
- I bet you would pay
$5,000 of their taxes.

0:11:52.038,0:11:53.298
- That's right. That's right,

0:11:53.298,0:11:55.960
I will do half. I will do
half. (laughs) That's right.

0:11:55.960,0:11:59.050
Okay, so Baby Step 6,
it's a long process, right?

0:11:59.050,0:12:00.760
Average was 11 years.

0:12:00.760,0:12:04.450
So people are, at this point,
they're completely debt-free,

0:12:04.450,0:12:06.070
consumer debt, they
have an emergency fund,

0:12:06.070,0:12:08.040
they're funding kids' college, retirement,

0:12:08.040,0:12:08.873
and then they're throwing

0:12:08.873,0:12:09.930
anything extra they have at the house.

0:12:09.930,0:12:12.047
And it can seem long and
a little daunting as well.

0:12:12.047,0:12:13.860
- But it kind of sneaks up on you.

0:12:13.860,0:12:14.693
- What's your motivation?

0:12:14.693,0:12:15.610
What do you say with that?

0:12:15.610,0:12:16.443
- I think what's happening is,

0:12:16.443,0:12:17.630
you're chip, chip, chip, chip, chip,

0:12:17.630,0:12:20.168
and then suddenly, the wall falls.

0:12:20.168,0:12:23.160
And you went, whoa, that just happened.

0:12:23.160,0:12:24.370
It kinda sneaks up on you

0:12:24.370,0:12:25.720
because it is a little more gradual.

0:12:25.720,0:12:27.960
You have all these
celebration moments like,

0:12:27.960,0:12:28.527
paid off the credit cards!

0:12:28.527,0:12:30.510
We paid off Sallie Mae!
We paid off the car!

0:12:30.510,0:12:31.570
When you're doing your debt snowball . . .

0:12:31.570,0:12:34.012
And then, we got the debt . . .
The first three are very,

0:12:34.012,0:12:36.500
the first three Baby Steps are very emotional

0:12:36.500,0:12:40.670
and very visceral, and this
is more like the marathon.

0:12:40.670,0:12:43.627
But when you're running a
marathon, you look up, and you go,

0:12:43.627,0:12:45.007
I'm halfway through. And,

0:12:45.007,0:12:46.757
oh, look over there,
there's the yellow tape.

0:12:46.757,0:12:48.709
We're gonna make it and not die.

0:12:48.709,0:12:50.080
These things occur,

0:12:50.080,0:12:52.562
but it kinda emotionally
sneaks up on you

0:12:52.562,0:12:53.590
because it's incremental.

0:12:53.590,0:12:56.370
- What do you see, Hogan, with
millionaires specifically,

0:12:56.370,0:12:57.203
because I love that

0:12:57.203,0:12:58.825
because it's people that have won, right?

0:12:58.825,0:12:59.770
What do they do?

0:12:59.770,0:13:00.740
- Well, bottom line is,

0:13:00.740,0:13:02.860
these millionaires are very intentional,

0:13:02.860,0:13:04.410
they take personal responsibility,

0:13:04.410,0:13:05.960
and they have a plan for their money.

0:13:05.960,0:13:08.130
And so, paying off the
home is not an accident—

0:13:08.130,0:13:09.440
it's a part of the plan.

0:13:09.440,0:13:11.970
Our culture is so used to buying homes.

0:13:11.970,0:13:12.803
What we're trying to do

0:13:12.803,0:13:15.010
is get people to think
differently about owning it,

0:13:15.010,0:13:16.410
and that means it's yours.

0:13:16.410,0:13:18.070
You've removed the risk out of your life

0:13:18.070,0:13:18.960
of having a payment,

0:13:18.960,0:13:22.670
and now you have an opportunity
to do more with that money,

0:13:22.670,0:13:25.160
like giving or doing
more things for yourself

0:13:25.160,0:13:26.548
and your own financial future.

0:13:26.548,0:13:27.381
- So good.

0:13:27.381,0:13:30.420
All right, that's Baby Step 6—
paying off the house early.

0:13:30.420,0:13:31.253
And next up,

0:13:31.253,0:13:33.130
we're gonna talk about
the last Ramsey Baby Step,

0:13:33.130,0:13:34.380
which is probably the most fun.

0:13:34.380,0:13:37.670
Baby Step 7: Build wealth and give.

0:13:37.670,0:13:39.400
But before we dive into that conversation,

0:13:39.400,0:13:42.390
here is a really great clip
from Financial Peace University

0:13:42.390,0:13:45.270
that shows what this step is all about.

0:13:45.270,0:13:48.090
- We are here to do more
than just for ourselves.

0:13:48.090,0:13:49.750
We're here to do for others.

0:13:49.750,0:13:54.750
- Our focus has shifted
from surviving to thriving.

0:13:55.200,0:13:56.050
- But when I think about

0:13:56.050,0:13:58.930
how much we've paid off in seven years,

0:13:58.930,0:14:00.960
and we tithed the whole way,

0:14:00.960,0:14:03.320
it's mind-blowing that we had enough.

0:14:03.320,0:14:06.180
- The process sort of
unlocks that part of you

0:14:06.180,0:14:08.130
that's a giver. Right away,

0:14:08.130,0:14:10.683
it allows you to develop the means

0:14:10.683,0:14:12.800
to be able to do more of it.

0:14:12.800,0:14:15.490
- When you start to think of yourself

0:14:15.490,0:14:18.150
as more than just a spectator in life,

0:14:18.150,0:14:19.520
it's such a joyful feeling.

0:14:19.520,0:14:21.880
- If you hold your money
like this, none can get out,

0:14:21.880,0:14:23.280
but no more can get in either.

0:14:23.280,0:14:24.690
If you go like this to God,

0:14:24.690,0:14:27.740
it flows so much you can't even hold them.

0:14:27.740,0:14:29.870
- Here I am, I'm giving money away,

0:14:29.870,0:14:31.650
and I'm richer than I've ever been.

0:14:31.650,0:14:33.540
- When I was working in the schools,

0:14:33.540,0:14:36.470
and I would see kids
come in to eat breakfast,

0:14:36.470,0:14:39.430
I started wanting to somehow branch out

0:14:39.430,0:14:40.490
and do something with that

0:14:40.490,0:14:42.020
to help these kids on the weekend.

0:14:42.020,0:14:46.020
That's how I came at starting
Blessings in a Backpack.

0:14:46.020,0:14:51.020
- If you start looking at
money as a tool that you use—

0:14:51.580,0:14:54.460
it's an asset that the Lord has given me,

0:14:54.460,0:14:59.460
And I pray, please show me how
I should use your resources

0:14:59.930,0:15:02.150
because it's not me anymore.

0:15:02.150,0:15:05.681
- And now we have all this
time to pour into ministries,

0:15:05.681,0:15:08.590
and people going overseas
to spread the gospel.

0:15:08.590,0:15:10.890
- I pack food for kids I don't even know,

0:15:10.890,0:15:12.770
but I feel really great knowing

0:15:12.770,0:15:16.310
that there's 24 kids that
are being fed this weekend.

0:15:16.310,0:15:17.260
- You know, with this generous act

0:15:17.260,0:15:19.240
my parents have done for me,

0:15:19.248,0:15:20.750
I really have to shift my mindset

0:15:20.750,0:15:23.260
because, before, when
you don't have enough,

0:15:23.260,0:15:26.100
you're always worried about
taking care of yourself,

0:15:26.100,0:15:27.670
what do I need to do to help myself?

0:15:27.670,0:15:30.410
With this, it just shifts my
mindset to transcending that.

0:15:30.410,0:15:32.430
I have the ability to
pay it forward in a way

0:15:32.430,0:15:34.030
that other people maybe don't.

0:15:34.030,0:15:36.373
- The amount of money
that we're able to give,

0:15:36.373,0:15:40.680
and enjoy giving, it's more
than I ever would've imagined.

0:15:40.680,0:15:42.540
It's just amazing.

0:15:42.540,0:15:43.940
- So you better be ready for the ride

0:15:43.940,0:15:46.417
because it's freaking awesome. (laughs)

0:15:47.436,0:15:49.860
I totally love it.

0:15:49.860,0:15:51.630
- All right, Baby Step 7,

0:15:51.630,0:15:54.700
all that's left is to
build wealth and give.

0:15:54.700,0:15:56.920
And we cover this in
Financial Peace University,

0:15:56.920,0:15:59.790
and this is called outrageous generosity.

0:15:59.790,0:16:01.590
And this is a fun step, you guys.

0:16:01.590,0:16:03.000
This is where we get people.

0:16:03.000,0:16:06.050
And you always say that
it's an emotional step

0:16:06.050,0:16:08.531
because there's, all the
hope that's accumulated,

0:16:08.531,0:16:11.260
this is what the plan is for.

0:16:11.260,0:16:14.970
- We've lived like no one else.
We've paid the price to win.

0:16:14.970,0:16:17.940
And our definition of winning
is you become debt-free

0:16:17.940,0:16:19.030
so that you're able to build wealth.

0:16:19.030,0:16:20.090
So you live like no one else

0:16:20.090,0:16:23.260
so that you can live like no one else,

0:16:23.260,0:16:27.060
and you can give like no one else.

0:16:27.060,0:16:28.380
I talked to a friend of mine yesterday,

0:16:28.380,0:16:29.213
as a matter of fact.

0:16:29.213,0:16:31.470
We were having a discussion,
40 years of marriage,

0:16:31.470,0:16:32.930
and he was telling me

0:16:32.930,0:16:35.900
that Ritz-Carlton now has a
cruise line. I didn't know this.

0:16:35.900,0:16:38.690
But he just booked a really nice cruise

0:16:38.690,0:16:40.160
for his 40th anniversary.

0:16:40.160,0:16:41.740
So he's living like no one else,

0:16:41.740,0:16:44.030
and this guy is unbelievably generous.

0:16:44.030,0:16:44.863
And you would never think

0:16:44.863,0:16:46.990
he would spend money
on himself in any way,

0:16:46.990,0:16:48.640
but it's a very small
percentage of his world,

0:16:48.640,0:16:51.130
because his world is very big now.

0:16:51.130,0:16:53.600
- I love it. And the giving
aspect is just incredible.

0:16:53.600,0:16:54.433
And we always say

0:16:54.433,0:16:57.030
it really is the most fun
you can have with money.

0:16:57.030,0:16:58.760
There's fun parts of changing your legacy,

0:16:58.760,0:17:00.345
and going on a nice
cruise, and all of that.

0:17:00.345,0:17:04.600
But when you give, there's
something in your heart that,

0:17:04.600,0:17:05.433
it's different.

0:17:05.433,0:17:07.390
It touches a different place
in your life, giving does.

0:17:07.390,0:17:09.160
Do you find that, Hogan,
with everyday millionaires?

0:17:09.160,0:17:09.993
- It really does.

0:17:09.993,0:17:11.160
And these everyday millionaires

0:17:11.160,0:17:13.740
are very intentional
in setting aside money

0:17:13.740,0:17:15.730
each and every month to be able to give.

0:17:15.730,0:17:17.130
So this wasn't an accident.

0:17:17.130,0:17:18.980
This is in the fiber of who they are.

0:17:18.980,0:17:21.710
And we say that we're
blessed to be a blessing.

0:17:21.710,0:17:24.280
And so, these millionaires
have that same kind of mindset.

0:17:24.280,0:17:26.470
Yes, they want to take care
of their own financial future,

0:17:26.470,0:17:29.170
but they're also trying to help
others in all kinds of ways,

0:17:29.170,0:17:31.010
at their church, at charities.

0:17:31.010,0:17:33.260
And so, it's just
fantastic to be able to see

0:17:33.260,0:17:35.030
that these people have
the right kind of heart

0:17:35.030,0:17:36.234
and the right kind of motivation.

0:17:36.234,0:17:37.130
- [Rachel] Yeah, it's so great.

0:17:37.130,0:17:37.967
- Yeah.

0:17:37.967,0:17:38.800
- All right, it's fun.

0:17:38.800,0:17:40.030
The Ramsey Baby Steps, they're complete.

0:17:40.030,0:17:42.830
You end with living and
giving like no one else.

0:17:42.830,0:17:45.240
So, before you guys leave,

0:17:45.240,0:17:47.380
a question I always ask my guests are,

0:17:47.380,0:17:49.680
what is something that you're doing

0:17:49.680,0:17:51.030
with your money right now

0:17:51.030,0:17:53.387
that's creating a life that you love?

0:17:53.387,0:17:55.397
And I can't wait to hear your answers,

0:17:55.397,0:17:58.010
because if yours is buying a new play set

0:17:58.010,0:18:00.916
for your grandkids, I'd be okay with that.

0:18:00.916,0:18:02.820
(Chris laughs)

0:18:02.820,0:18:03.757
We need one.

0:18:03.757,0:18:05.175
- Is she lobbying?

0:18:05.175,0:18:06.740
Is she lobbying right now?

0:18:06.740,0:18:09.517
- Live on camera, I decided to go there.

0:18:09.517,0:18:10.397
I need proof.

0:18:10.397,0:18:11.030
- What is she doing?

0:18:11.030,0:18:12.385
- This goes on all the time.

0:18:12.385,0:18:13.485
- My goodness.

0:18:13.485,0:18:14.737
(group laughs)

0:18:14.737,0:18:15.880
- But really, what are y'all doing?

0:18:15.880,0:18:16.713
What are you doing right now?

0:18:16.713,0:18:17.703
People are interested.
This is interesting.

0:18:17.703,0:18:19.250
- Well, I mean, what I'm doing

0:18:19.250,0:18:22.420
is, I'm obviously preparing
a legacy for my own boys,

0:18:22.420,0:18:23.770
but being able to give.

0:18:23.770,0:18:26.230
I mean, being involved
in some areas out front,

0:18:26.230,0:18:27.840
but also behind the scenes.

0:18:27.840,0:18:28.673
I have to tell you,

0:18:28.673,0:18:30.360
when you're able to
give behind the scenes,

0:18:30.360,0:18:32.010
no one knows, but I know.

0:18:32.010,0:18:34.830
And so, it's awesome to be
able to see the impact of that.

0:18:34.830,0:18:37.825
And so, absolutely, it's
fun. It's a lot of fun.

0:18:37.825,0:18:38.835
- Again, the giving,

0:18:38.835,0:18:42.700
it is the most fun you'll
ever have with money.

0:18:42.700,0:18:44.300
And it's not just to pat
ourselves on the back

0:18:44.300,0:18:46.060
and say we're generous,
or something like that.

0:18:46.060,0:18:48.370
It's just, you work your tail end off,

0:18:48.370,0:18:51.360
and we work, I mean, all
three of us work hard.

0:18:51.360,0:18:53.630
And we make good money,
and we've gotten there,

0:18:53.630,0:18:56.390
we've gotten to the point that
we don't have house payments,

0:18:56.390,0:18:58.010
we don't have this, we don't have that.

0:18:58.010,0:18:59.550
And so, we're able,

0:18:59.550,0:19:02.650
there's margin in there
to enjoy our money,

0:19:02.650,0:19:05.590
but also to just catch somebody.

0:19:05.590,0:19:06.990
And just, you know,

0:19:06.990,0:19:08.900
we were in a little Mexican
restaurant the other night,

0:19:08.900,0:19:10.900
and the food was amazing.

0:19:10.900,0:19:15.900
And the lady busing the
tables didn't speak English,

0:19:15.930,0:19:18.470
and it was really fun to just
pop a hundred dollar bill

0:19:18.470,0:19:21.130
on her on the way out, just
completely made her cry.

0:19:21.130,0:19:23.500
It's just, let's have some fun like that.

0:19:23.500,0:19:24.040
- So good.

0:19:24.050,0:19:25.770
- Because she's the one
that doesn't get noticed.

0:19:25.770,0:19:27.477
The waiter that's all
dancing in front of you,

0:19:27.477,0:19:30.200
they're the one that gets the tip, right?

0:19:30.200,0:19:32.650
But she's the one carrying
the dishes in the back,

0:19:32.650,0:19:35.120
and that kind of stuff, and
nobody even knows she's there.

0:19:35.120,0:19:36.384
She didn't speak a lick of English

0:19:36.384,0:19:37.807
and I don't speak a lick of Spanish.

0:19:37.807,0:19:38.640
But you know what?

0:19:38.640,0:19:40.350
We both spoke C-note.

0:19:40.350,0:19:43.518
(group laughs)

0:19:43.518,0:19:46.360
- She knows what that is. That's awesome.

0:19:46.360,0:19:47.400
So, so great.

0:19:47.400,0:19:50.140
Well, you guys, it's just
been an amazing series,

0:19:50.140,0:19:52.130
and I'm so glad that we've touched

0:19:52.130,0:19:53.290
on every single Baby Step.

0:19:53.290,0:19:54.790
But if you really wanna dive into this,

0:19:54.790,0:19:56.900
we've got a community
of people just like you

0:19:56.900,0:19:58.850
who are changing their lives,

0:19:58.850,0:20:00.580
and they're just waiting for you.

0:20:00.580,0:20:03.630
So, you're able to connect
with them, dive in deeper,

0:20:03.630,0:20:04.463
so make sure to sign up

0:20:04.463,0:20:06.220
for a Financial Peace University class

0:20:06.220,0:20:09.090
and see your legacy start changing.

0:20:09.090,0:20:12.501
Thank you guys both for being
here. So fun. Thank you, thank you.

0:20:12.501,0:20:15.841
(upbeat music)

0:20:15.841,0:20:17.610
They're just the best.

0:20:17.610,0:20:19.720
Thank you Dave Ramsey, ol' Papa Dave,

0:20:19.720,0:20:21.690
and Chris Hogan for joining me.

0:20:21.690,0:20:23.640
It's so fun because we
teach this stuff every day,

0:20:23.640,0:20:25.770
so it's always great to
bring in the big guns

0:20:25.770,0:20:27.140
for the Baby Steps.

0:20:27.140,0:20:29.990
I hope this episode shows
you what is possible

0:20:29.990,0:20:31.660
if you stick to a plan.

0:20:31.660,0:20:32.620
And I have loved

0:20:32.620,0:20:34.910
walking through the Baby Steps in this series with you,

0:20:34.910,0:20:36.830
so thank you so much for watching.

0:20:36.830,0:20:37.770
And if you haven't checked out

0:20:37.770,0:20:39.220
the podcast version of the show,

0:20:39.220,0:20:41.570
make sure you do that
for some extra teaching.

0:20:41.570,0:20:44.680
And make sure to subscribe
to both YouTube and Facebook.

0:20:44.680,0:20:45.720
And for more information

0:20:45.720,0:20:47.560
on starting Financial Peace University,

0:20:47.560,0:20:49.970
or anything else that we've
mentioned in the show,

0:20:49.970,0:20:52.202
make sure to click the
link in the show notes.

0:20:52.202,0:20:55.160
And as always, make sure to
take control of your money

0:20:55.160,0:20:56.853
and create a life you love.