Make college affordable serving part time like to attend school full time while you take advantage of the education benefits that can help you graduate debt free at the 1000000000 career is your goal serving part time allows you to work out a full time job the skills qualities and contacts you will develop in the Guard can open doors to a great civilian career want to get worried about being away from friends and family part time service in the Army National Guard allows you to serve close to home serving in the Army National Guard lets you have the life you want while you enjoy the many benefits of serving your community and nation you owe it to yourself to learn more about how the Army National Guard can fit into your life visit National Guard dot com sponsored by the Colorado Army National Guard by the Colorado Broadcasters Association and this station. In a time where we question the accuracy of every news report from the most popular outlets to what Uncle dog shared on the social media page will Mirer hates kids there's one voice no matter the story you know you can dress every day we have to celebrate mornings with Gail features the latest on Wall Street has 18 or 25909 different weather and traffic conditions partly cloudy today across northern Colorado reports of us still right in that immediate area slowing traffic considerably and of course the news of the day the norovirus outbreak in District 6 is spreading the really City Council votes tonight on a strategic housing plan on is a radio veteran leaving no stone unturned while delivering topics and opinions in a responsible way how can you have a showdown if one of the parties involved doesn't shell mornings with Gail weekdays 6 to 9 only on 13 John k f k. Being in the Army National Guard is about more than just serving your country it's about being there for your community when your neighbors need you most the Army National Guard make college affordable serving part time like to attend school full time while you take advantage of the education benefits that can help you graduate debt free it's at the 1000000000 career is your goal serving part time allows you to work out a full time job the skills qualities and contacts you will develop in the Guard can open doors to a great civilian career want to go worried about being away from friends and family part time service in the Army National Guard allows you to serve close to home serving in the Army National Guard lets you have the like you want while you enjoy the many benefits of serving your community and nation you owe it to yourself to learn more about how the Army National Guard can fit into your life visit National Guard dot com sponsored by the Colorado Army National Guard by the Colorado broad. Asters Association and this station I play for. Complete high school basketball for every ball of never playing a pick up game on a driveway playground out because we all share the same dream. Up like a bunch of geeks big time and married remake I play high school basketball for a chance to put my hometown of Colorado on the map playing in a state championship. Only one half of one percent of all high school student athletes play basketball in college but all 100 percent of them become adults That's why playing basketball in their high school team is so important high school athletes learn life lessons that help them grow up lessons that can't be taught in the classroom and often aren't taught at home awfully high school basketball because I love performing in front of a capacity crowd to my hometown send this message for Senate by the Colorado high school activities Association and the Colorado athletic directors Association. Getting you out of the business of playing video. Games that. I call the headquarters of Ramsey solutions broadcasting for the Dollar Car Rental studios it's the Dave Ramsey Show work that is done guys escape and update all balls mortgage has taken the place of the b. Of w. As the status symbol of choice on Dave Ramsey or host thank you for joining us open phones at AAA 825-5225 that's AAA 825-5225 David is with us in Ohio hi David welcome to the Dave Ramsey Show Hi Thank you so much for having me. So my wife and I run baby step number 2 and we have about $30000.00 left in student loans which we hope to have those paid off maybe by the end of the year. My father is going to gift us about $35000.00 worth of stock and stuff like Amazon should we keep that as stock when you give that to us or should we use it to pay off the remaining balance on our debt I would use it to pass remaining balance on your debt Ok you know how quite decide that's how quick let me walk you through it there's a thing that the Harvard investment newsletter uses called a sunk cost analysis and it teaches you to reverse engineer these decisions and the way that sounds like is this let's pretend you had no student loan debt would you go take out a student loan to buy Amazon stock. Absolutely not which is essentially the same thing if you don't use this to pay it off right sure by keeping it it's as if you bought it with student loan debt because their own each side of the balance sheet is not logical to you yes or yeah so now your dad's basis in the stock will become your basis with it being a gift. It's so you're going to pay capital gains on any gain over what he paid for it sure so I will pay that gain he will not have to pay it yeah exactly Amtrak you know you and you have a gift tax situation if somebody gives you more than $15000.00 Now is your dad marriage still no sir Ok And are you married yes or Ok he can give you $15000.00 he can give your wife $15000.00 and if he does more than that and doesn't do some paperwork and you think all the unified estate tax credit paperwork he's going to end up having gift tax on anything over $30000.00. Sure and I suppose we could split that up over the course of the end of this year in the beginning of next Exactly so he could do 30015 to you this year 15 to your wife this year and decent and January 1st do it again Ok And so if you break rank it up a little bit so that you don't get over and it's 4 different transactions you know or at least 315 to you if you want to move 30 you guys in this calendar year remove 15 to you 15 to your wife. They can't give it all to you Ok and Tom says tax his tax advisor and then you've got to figure out what he paid for it his stock broker or whoever he handles a stock will go have a basis on what he paid for it and if if his basis in the as his investment into this stock is. You know $15000.00 and he gives you guys $35000.00 then you have a $20000.00 gain you're going to pay taxes on when you sell it because you inherit his basis or you get his basis transferred to you want to gift and this is a gift so. You have taxes of about 15. About $3000.00 in that in that little example I had sure Ok that makes sense so I'll just be looking at all of that and you know do the gift tax thing right to the naming of it all right but definitely I would cash it in and use it for this now of course that's all assuming that you're going to play through you're going to get out of that you're going to stay out of that you're live on a budget you're going to build your margins you've done your start building wealth because that's going to give you much more wealth in the stock would have given you absolutely that's true you know when I go back if you don't play if you don't play through and you go back to your wicked ways you know then you've just wasted your dad's money then. Yes sir that's very true Ok cool I could question thank you for joining us open phones at AAA 8 to 552 to 5 changes everything with what you do with an inheritance or you honoring the person the passed away and left you something or honoring the person who gave you a gift it changes everything if you play through or not if you don't play through. You've dishonored their intent because their intent was to prosper you their intent was to be a blessing to you and if you just simply consumed it then you know I did that my grandmother passed away I was in my twenty's I guess. And I sold the farm and there were $9000000.00 grandkids and each of us got $5000.00 I still have no idea where that $5000.00 went so I dishonored that inheritance with my consumptive stupid but 20 something ways and say that's what you don't want you don't want to have that as part of your one of your psychological scars like I do you don't want to look back with that that that horrible taste on the back of your tongue called regret and say oh just you know play through play through and then you go wow you know Grandpa would've been proud grandma would've been proud papa Dave would have been proud that's my grandbabies right there right I want that I want you know people say what would Dave do I really want my grandbabies going what would. I really want to go on that big time and more importantly what would the Lord write more important than me by far but what will papa Dave do cause I want I really I definitely want to guilt trip them from the grave. Open phones that triple 825522 5 all for their own good of course Colton is weathers in Tennessee hi Colton How are you. Jim pretty good are you better than I deserve sir how can I help Ok so I got a question for you so my wife and I are 24 years old we have know that we have about 11 months worth money in our emergency fund too much and we have current currently maxed out our Ross Ira for the year. Ok so my question is we're moving to Knoxville at the end of the next summer for me to go to college so my wife is going to be switching jobs so we have an unknown salary and unknown amount of scholarship money that I'm going to get them so my question is should we invest that extra money in our emergency fund now we've been looking at like like properties or something. There were. No no no no no no why don't we start again. Wildlife Management Ok And so you're going to make more as a result of getting this degree I assume yes yeah my plan is going like a wildlife officer which will make you need a 4 year degree to be a wildlife officer you do you Ok another Fortunately I didn't know that Ok. I don't know what they make but. Interesting I think they start around 50000 ear and then it's government job he goes up from there Ok well is the best investment you can make assuming you have a good career choice is you. Not property not mutual funds and so I would pile up cash to make this dream happen. To make the move cash to pay for the degree no borrowing cash and invest in Colton you're a better investment than a mutual fund is. Here it's all q.s.a. Saves you money Don from Minnesota said we switched from Verizon to pure talk thanks to Dave Ramsey I was skeptical but after leaving the big city and traveling to a rule area service coverage never lapses were also saving $40.00 a month guys Pira talk USA has the same great coverage for less and no contracts try risk free today call pound to 50 and say the keyword Dave Ramsey Christians have an affordable incredible way to meet their overwhelming healthcare costs it's Christian healthcare ministry the original health cost sharing ministry a better business bureau accredited organization members share to pay each other's medical bills it's not insurance it's Christians financially and spiritually supporting each other it's done for over 35 years learn more at. Org That's Ministries dot org Christian health care Ministries is a proud sponsor of Dave Ramsey live events whether you drive a Bremer or a beater you need car insurance it's important to make sure you have the right amount of coverage while you're on the road checking your car insurance coverage could actually save you money because there's a good chance you're overpaying and that cash saved from car insurance could be going towards paying off debt building your emergency fund or investing but you have better and more interesting things to do not spend your time poking around the Internet looking for. Good deals on car insurance that's why we recommend working with one of our endorsed local providers our each. Our insurance pays are in the Pend of ensurance agents that I trust and they will walk you through the basics of car insurance they will find you the best deal with the right coverage giving you more time to spend with your family and on your hobbies to find an insurance e.l.p. Go to Dave Ramsey dot com and click on insurance. Would like to welcome you to the party every wins in a night now all your favorite entertainment programs are in one place during K.F.C.'s block party at 5 o'clock. The latest in preps I don't know if anybody can stop then it's time to shout out with more bacon please restaurant radio with Tiffany held and you can take Service see classes at the cooking studio I do that because I feel like it's the responsible thing to do is the owner of a restaurant at 7 o'clock to talk beer. And fun with this one is an angry bitter in the back of the tongue doesn't mean. You get the nice guy without having that bitterness Finally at 8 it's the show. Me Brady whole. Universe early to keep up with Marvel and they've bought. Transforming into one giant party Bloc Party midweek more bacon please and the nerd show. Up late for. Awfully high school basketball for every level playing pick up game on the playground at because we. Like the buzz of the. Imperial make awfully high school basketball hometown of Colorado on the upswing in the state championship. Only one half of one. Percent of all high school student athletes play basketball in college but all 100 percent of them become adults That's why playing basketball in their high school team is so important high school athletes learn life lessons that help them grow up lessons that can't be taught in the classroom and often aren't taught at home I play high school basketball because I love performing in front of a capacity crowd in my hometown sent this message for Senate by the Colorado high school activities Association and the Colorado athletic directors Association. Financial problems. It's the Dave Ramsey Show on 13 j.f.k. . But I guess we need a month for everything October is insurance coverage check up on really. That we just declare that or something do people just sit around who makes this up one of our marketing problems now really I think it is now is the perfect time to make sure you have the right insurance in place you don't want too much insurance but you don't want to little either and so we've built a free. Keyword free tool that will show you what you need to add what you need to drop and what you need to change in about 5 minutes and will even show you what you need to take care of 1st and email you the list so that you know exactly what today is completely free it's called the coverage check up tool could be the most important 5 minutes you spent a day I got home yesterday on the air and he was like we saved $3000.00 on our homeowners and car by just shopping it with one of your piece dad gum and that's money right there so check it out Stephen s. Complete the check up and he says I We discovered we were paying about 30 percent more 40 percent more than we should have on homeowners a car with less coverage and I really should have checked this out sooner so all you do is get your phone out you text check up we'll send you the free stuff it's all free check your phone out text check up to 33789 or of course you can go to Dave Ramsey dot com slash check up at a Wesley's Weatherston California I was really welcome to the Dave Ramsey Show Hello Dave thank you for taking my call my pleasure How can I help. So I've been following your advice for a couple months now I'm relatively fresh what's going on is my fiance of 7 years just gave birth to our 2nd son 1st son is 6 years old and in those 6 years we racked up about 2527 k. Of credit card debt it's all in her name I've got about 3 k. That I let go after my he was born but they've stopped hounding me for I am trying to set up a budget now I work full time bringing in about 27 k. And just can't seem to get the budget to click properly need some advice from you. Does she work outside the home she's a stay at home mother. You have a fiance for 7 years she's the one that's been putting off marriage because she's afraid of taking that next step forward and by not having babies that's Wow Man Ok cool all right. I'm sorry my painter get off the ladder Ok. So what I would do is put you on a every dollar budget it's completely free All right hello Ok And I've already done that Ok good so you've got it all written out every month you're doing that are you going over that with her yes we're slowly starting to get her to come around and get on the plan as well because where I'm don't like having to be the sole provider and just not know where the money's going so I want both of us on board with the plan Hey man well you know don't make much money so you've got to really make it stretch I mean a family of 4 with if you're married a family of 4 with 20 with 2 children making 27000 in California is probably right at the poverty line. And luckily we don't have any rent to pay because we're living with her family which is a toxic environment but at least it helps us save some costs there yeah Ok so how are you I am 28 and what city do you live in I live in Marysville which is just outside Sacramento area Ok. And what is your long term career goals of that honestly I don't even know what I would like to do I just see myself jumping from job to job until I find something that sticks and being able to provide for my family. Well. I've got a son that your age he's 28 Ok And so I'm thinking of him right now and I was thing I'm thinking if he was in this situation and he said down said bad I have a cup of coffee what do you think about this Ok here's what I would tell him. There's a lot of statistical correlation between people winning with money and their overall quality of life in getting things in the right order. About getting married and having kids you got some of that out of order already so let's get that corrected this is what I would tell my own son Ok you do what you want today I'm not trying to hurt your feelings on trying to be mean to you I'm saying I love my son and this is what I would tell him Ok then the 2nd thing I would say is you're starving to death and you're living in a toxic environment that you're forced to live in because you're starving to death and so you desperately need to start setting some goals and having some clear vision for your life on your career side because where you live is not an inexpensive place to live and you don't make any money I'm not picking on you know I'm not talking down to you but you know dude your life would change dramatically if you made 75 $1000.00 a year obviously you know that and so what are we going to do and let's spend some real energy some some quiet time on the back porch with a cup of coffee and even if you have to go the neighbors because there is no quiet time in this toxic ouse sit on the back porch with a cup of coffee somewhere and go Ok God what am I gonna do. So that when I'm 42 or I'm 28 now when I'm 38 I'm well on my path to you know to earning a considerable amount more in something that I enjoy doing in that I'm gifted at doing what is that and you kind of to brainstorm that and pray that through and just have some quiet time and you know watch the Mr Olaf the river or whatever and kind of get this dolled in but you know I used to go down to my like house for instance and take a yellow pad and just spend a day with me and God walking around just talking to them talking to him and well you only do this year what you only do next year what you want it what do you want me to 10 years from now and thinking out into the future because you can get caught up in the day to day diaper changing and the da