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4 hours ago
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Arizona man called into The Ramsey Show for advice on how to protect his family in case of ‘societal collapse'
Chris from Phoenix is worried about 'huge civil unrest' resulting from a collapsed dollar — and he doesn't think President Donald Trump or billionaire Elon Musk can fix the situation. The dad of two young daughters called into The Ramsey Show and asked co-hosts George Kamel and Dr. John Delony for their thoughts on how to prepare for a 'societal collapse.' Chris says he's worried about the growing national debt and that he imagines 'in several decades it being unmanageable and perhaps collapsing the dollar.' Even if Trump and Musk could fix the situation, he doesn't think it could be 'sustained long enough to where you wouldn't cause huge civil unrest.' 'Do you all personally own any physical precious metals, gems, have visas or even ammunition for the purpose of protecting against societal collapse?' Chris asked during a recent episode of The Ramsey Show. Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 5 of the easiest ways you can catch up (and fast) Nervous about the stock market in 2025? Find out how you can access this $1B private real estate fund (with as little as $10) Dr. John Delony describes himself as a fellow worrier who's also concerned about the ballooning national debt, but he doesn't have any jewels hidden in his backyard (though he does have a deep freezer with about a year's-worth of meat in it). Delony also urged Chris to ground himself in the present, because 'if you've confirmed in your mind' that a tragedy is coming your way in the future, 'your body responds as though it's happening right now,' said Delony. And that takes you away from being in the moment. And this isn't necessarily helpful. So what can worriers like Chris do to prepare for the unknowable — and live more in the moment? Before getting into precious metals (or bullets), Delony suggests going back to basics. For example, before getting into bio-hacks to improve your longevity, you'll want to master the basics first — like exercising and eating right. The same goes for finances. 'Do I owe anybody any money?' Delony said. Is his family 'actually free?' Going back to basics means being financially 'free.' That's where good financial habits can help: building up an emergency fund, paying off debts (starting with high-interest debts, like credit card debt and loans) and investing in a diversified portfolio. Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says — and that 'anyone' can do it Trying to think through how you'd handle an 'epic wild west scenario is a waste of time and energy,' said Delony. 'It's just a distraction from being present with your daughters.' He suggests taking a 'news fast' for the next 60 days — not looking at news or social media — and doing something else instead, like playing with your kids or going out for a hike. 'That's not me putting my head in the sand,' he said. Rather, it's about getting out of that 'anxious state into a world that I can actually impact, which is my family, my home.' If there was an economic and societal collapse, 'gold's not going to solve it,' said Kamel. 'We'd go back to the bartering system, trading for food, water, fuel.' As Dave Ramsey said, 'At no time has gold been used as a medium of exchange in a crashed economy since the Roman Empire.' Kamel says he doesn't own any gold and 'if we make decisions based on fear, we end up poorer — not richer,' he said, adding that he avoids precious metals and 'wouldn't use it as a hedge against anything.' One of the greatest hedges — if not the greatest hedge — is 'robust, connected relationships with your neighbors,' said Delony. And you 'can't buy that off of Amazon.' If Chris is truly concerned about the world imploding, 'get to know the people around you, have them over for dinner, become friends with them, talk about values.' Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Robert Kiyosaki warns of a 'Greater Depression' coming to the US — with millions of Americans going poor. But he says these 2 'easy-money' assets will bring in 'great wealth'. How to get in now This is how American car dealers use the '4-square method' to make big profits off you — and how you can ensure you pay a fair price for all your vehicle costs Like what you read? Join 200,000+ readers and get the best of Moneywise straight to your inbox every week. This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
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a day ago
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Arizona man called into The Ramsey Show for advice on how to protect his family in case of ‘societal collapse'
Chris from Phoenix is worried about 'huge civil unrest' resulting from a collapsed dollar — and he doesn't think President Donald Trump or billionaire Elon Musk can fix the situation. The dad of two young daughters called into The Ramsey Show and asked co-hosts George Kamel and Dr. John Delony for their thoughts on how to prepare for a 'societal collapse.' Chris says he's worried about the growing national debt and that he imagines 'in several decades it being unmanageable and perhaps collapsing the dollar.' Even if Trump and Musk could fix the situation, he doesn't think it could be 'sustained long enough to where you wouldn't cause huge civil unrest.' 'Do you all personally own any physical precious metals, gems, have visas or even ammunition for the purpose of protecting against societal collapse?' Chris asked during a recent episode of The Ramsey Show. Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 5 of the easiest ways you can catch up (and fast) Nervous about the stock market in 2025? Find out how you can access this $1B private real estate fund (with as little as $10) Dr. John Delony describes himself as a fellow worrier who's also concerned about the ballooning national debt, but he doesn't have any jewels hidden in his backyard (though he does have a deep freezer with about a year's-worth of meat in it). Delony also urged Chris to ground himself in the present, because 'if you've confirmed in your mind' that a tragedy is coming your way in the future, 'your body responds as though it's happening right now,' said Delony. And that takes you away from being in the moment. And this isn't necessarily helpful. So what can worriers like Chris do to prepare for the unknowable — and live more in the moment? Before getting into precious metals (or bullets), Delony suggests going back to basics. For example, before getting into bio-hacks to improve your longevity, you'll want to master the basics first — like exercising and eating right. The same goes for finances. 'Do I owe anybody any money?' Delony said. Is his family 'actually free?' Going back to basics means being financially 'free.' That's where good financial habits can help: building up an emergency fund, paying off debts (starting with high-interest debts, like credit card debt and loans) and investing in a diversified portfolio. Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says — and that 'anyone' can do it Trying to think through how you'd handle an 'epic wild west scenario is a waste of time and energy,' said Delony. 'It's just a distraction from being present with your daughters.' He suggests taking a 'news fast' for the next 60 days — not looking at news or social media — and doing something else instead, like playing with your kids or going out for a hike. 'That's not me putting my head in the sand,' he said. Rather, it's about getting out of that 'anxious state into a world that I can actually impact, which is my family, my home.' If there was an economic and societal collapse, 'gold's not going to solve it,' said Kamel. 'We'd go back to the bartering system, trading for food, water, fuel.' As Dave Ramsey said, 'At no time has gold been used as a medium of exchange in a crashed economy since the Roman Empire.' Kamel says he doesn't own any gold and 'if we make decisions based on fear, we end up poorer — not richer,' he said, adding that he avoids precious metals and 'wouldn't use it as a hedge against anything.' One of the greatest hedges — if not the greatest hedge — is 'robust, connected relationships with your neighbors,' said Delony. And you 'can't buy that off of Amazon.' If Chris is truly concerned about the world imploding, 'get to know the people around you, have them over for dinner, become friends with them, talk about values.' Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Robert Kiyosaki warns of a 'Greater Depression' coming to the US — with millions of Americans going poor. But he says these 2 'easy-money' assets will bring in 'great wealth'. How to get in now This is how American car dealers use the '4-square method' to make big profits off you — and how you can ensure you pay a fair price for all your vehicle costs Like what you read? Join 200,000+ readers and get the best of Moneywise straight to your inbox every week. This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
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2 days ago
- Business
- Yahoo
Philadelphia woman in ‘tricky situation' after her mom asked for $3,000 — from the grandkids' savings account
Andrea, a wife and mother from Philadelphia, recently found herself in a high-stakes financial and emotional crossroads, caught between family loyalty, cultural expectations and a commitment to financial stability. 'I am in a really tricky situation,' Andrea shared during a recent call to The Ramsey Show. 'My brother and my mom are asking me to [lend] my brother $3,000.' Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 5 of the easiest ways you can catch up (and fast) Nervous about the stock market in 2025? Find out how you can access this $1B private real estate fund (with as little as $10) The purpose of the request was to cover her brother's business expenses. But Andrea and her husband have been saving that money to try to pay down debt. Here's what Ramsey had to say to Andrea. Ramsey Show Co-host Jade Warshaw posed an alternative suggestion. 'Why doesn't she lend him the $3,000?' she asked the caller, referring to Andrea's mother. 'Because she doesn't have the money,' Andrea replied. Dave Ramsey's response? 'Neither do you. You're broke and in debt.' But the plot thickened when Andrea revealed her mother's solution: tapping into Andrea's children's savings. 'I talk to my mom sometimes, telling her we save money for the kids, right? So her idea was to take the money from the kid's savings account to give my brother the $3,000,' she said. 'She has a lot of ideas about what you should do with your money,' Warshaw noted, 'Do you feel like you have to listen to what she's asking you to do?' Andrea hesitated, noting her brother once helped her early in her marriage, but that support came in the form of small items for her kids. 'That was not $3,000. That was a hundred dollars,' Ramsey said. 'Because I got to tell you in my world, when grandma asked for the kids' money for the brother, that means grandma needs to be smacked.' Originally from Ecuador, Andrea noted that extended family support is a common expectation in her community. Ramsey responded, 'In your culture, it is more normal to share with extended family … but this is your household. And your household is separate.' Cultural norms can shape financial habits, but limits are limits. Even with that understanding, Andrea expressed hesitation. 'My brother is more … resentful. If you tell him something that he doesn't like … then he's not going to talk to me,' she told the hosts. She feared that saying no would lead to tension or silence. 'There's no consequence here other than adults choosing how they're going to behave next. If your brother gives you the cold shoulder, that's not something you can control,' Warshaw said. 'All you can control is your response.' Andrea admitted that her mom would likely try to persuade her. Ramsey's response was simply, 'No is a complete sentence.' He suggested that Andrea tell her mother, 'Mom, I love you. I love him. That's not in question. But this money is set aside for my children. And the answer is going to be no, no matter how long we talk.' Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says — and that 'anyone' can do it Financial experts emphasize the importance of setting clear boundaries in similar scenarios. According to a survey by Ipsos for BMO, 34% of partnered Americans report that money is a source of conflict in their relationships. Money issues with extended family can add to that stress. Here are some tips to navigate tricky situations like these: Start with an open conversation. Schedule time to sit down and talk about your concerns without placing blame. For instance, Andrea could say, "I understand your situation, but I need to prioritize my children's future savings." Establish firm boundaries. Don't be afraid to set your limits and let your family know that they need to respect them. Offer different types of support. Look for other ways to help, such as recommending resources or financial counseling services that may be useful. Finally, if the conversation doesn't seem to be progressing, consider involving a neutral third party, such as a financial advisor, to help facilitate. It can be tough, but by approaching the situation with firm boundaries, it's possible to maintain family relationships while also protecting your financial well-being. Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Robert Kiyosaki warns of a 'Greater Depression' coming to the US — with millions of Americans going poor. But he says these 2 'easy-money' assets will bring in 'great wealth'. How to get in now This is how American car dealers use the '4-square method' to make big profits off you — and how you can ensure you pay a fair price for all your vehicle costs Like what you read? Join 200,000+ readers and get the best of Moneywise straight to your inbox every week. This article provides information only and should not be construed as advice. It is provided without warranty of any kind. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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3 days ago
- Business
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Couple Making $200K Wants To Invest 60% of Their Income—Dave Ramsey Says That's Great, But 'Build Up A Fat Juicy Down Payment' For A House Instead
Most people call into "The Ramsey Show" wondering how to climb out of debt. But one recent caller? He and his wife are trying to do the opposite. They're in their 20s, fresh out of college, no debt, $200,000 combined income, six months of emergency savings—and their big question was whether investing 60% of their take-home pay was a little too much. Turns out, it might be. Not because they're saving too aggressively—Dave Ramsey loves intensity—but because they're skipping a key step almost every millionaire he's studied has taken. "Very, very few people that we have studied... that became wealthy used that plan," Ramsey said. "Instead, what they have done is they bought and then paid off a home." Don't Miss: Hasbro, MGM, and Skechers trust this AI marketing firm — Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — The couple, who just got married and are currently renting, laid out their plan: live on her $60,000 salary and invest his $85,000 take-home in 401(k)s, HSAs, and other vehicles. Their goal? For her to eventually become a stay-at-home mom. But Ramsey had one question that changed the tone: "What about your house?" They didn't have one. And to him, that's a red flag—because he's seen what happens when people rent for life. "You can 100% count on rent going up your entire life as long as you rent," he said. "Your largest item is out of your control." In his book "Baby Steps Millionaires," Ramsey details a study of 10,000 net-worth millionaires. Most of them followed a path that involved a modest home, a long-term mortgage, and slow, steady investing. That's not to say saving 60% is bad—it's just rare, and in Ramsey's view, less efficient. "I would save a maximum of 15% of my household income into retirement... stop the HSA, build up a fat juicy down payment, and buy a house in Texas," Ramsey said. Trending: Maximize saving for your retirement and cut down on taxes: . And he's not just talking theoretically. The data backs him up. According to the Federal Reserve, the median net worth of homeowners is around $400,000, while the median for renters is just $10,400. That's not a typo—renters, on average, have less than 3% of the wealth homeowners do. Ramsey even got a little nostalgic about the power of real estate: "Think about the neighborhood that you might buy in... what you could have bought that house for 15 years ago. That's what it's going to be 15 years from now." And while the husband might be fine roughing it for now, Ramsey warned him not to bank on his wife feeling the same. "When she becomes a stay-at-home mama, I promise you this—she's gonna want a house." Ramsey's final take? This couple's drive is rare, and they're already ahead of the game. "You're not going to be a broke guy because you're actually paying attention," he told the caller. But even the most disciplined saver needs a solid foundation—and in his world, that foundation has a deed and a mortgage. Read Next: Inspired by Uber and Airbnb – Deloitte's fastest-growing software company is transforming 7 billion smartphones into income-generating assets – Invest where it hurts — and help millions heal:. Image: Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article Couple Making $200K Wants To Invest 60% of Their Income—Dave Ramsey Says That's Great, But 'Build Up A Fat Juicy Down Payment' For A House Instead originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved.
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3 days ago
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Dave Ramsey lays into guest for asking why even invest if he might not live long enough to enjoy his riches
Sometimes you can get the best advice by poking the bear. One write-in guest on The Ramsey Show found out the hard way after trying to 'make sense' of Dave Ramsey's investment advice. Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 5 of the easiest ways you can catch up (and fast) Nervous about the stock market in 2025? Find out how you can access this $1B private real estate fund (with as little as $10) 'You keep saying to invest $100 a month beginning at age 30 and you'll be worth $5 million at 70 years old,' wrote a man named Isaiah. 'That's the most ridiculous thing I've ever heard.' Isaiah pointed out that the life expectancy of a white American male is 72 years old, while for a Black male it's 68, meaning 'most people will never live to see $5 million.' He asked Ramsey to help him 'make sense of this advice'. Ramsey, who called Isaiah 'entitled' and 'belligerent,' said the real issue is the idea 'you're supposed to get rich in 10 minutes'. Here's why investing still makes sense — even if America's lifespan stats suggest many men won't live long enough to enjoy all their savings. Ramsey admitted that Isaiah isn't completely wrong about life expectancy, but said he was putting words in his mouth. 'We have never said $100 a month from [ages] 30 to 70 is $5 million — it's not,' Ramsey said, in a recent episode. 'It's $1,176,000, and that would be true of … any 40-year period of time you wanted to pick.' In 2023, the life expectancy for a man born in the U.S. was 75.8 years. For women, it was 81.1, according to the National Center for Health Sciences. A Stanford study also found that 'people who survive to age 65 are continuing to live longer than their parents — a trend that doesn't appear to be slowing down.' Ramsey said that saving $100 a month was an example — the idea is to save something every month and start building a 'money mindset.' Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says — and that 'anyone' can do it A money mindset is 'your unique set of beliefs and your attitude about money,' explained co-host Rachel Cruze in a blog for Ramsey Solutions. That mindset 'drives the decisions you make about saving, spending and handling money' and 'shapes the way you feel about debt.' Cruze pointed to a Ramsey Solutions study of more than 10,000 millionaires, which found that 97% believed they could become millionaires. 'And having that mindset — not an inheritance, fancy education or wealthy parents — is exactly what caused them to succeed.' Some people have an 'abundance mindset,' a belief that there are plenty of opportunities for everyone to grow wealth. Others have a 'scarcity mindset,' the belief that resources are limited and wealth is hard to come by. An abundance mindset focuses on possibilities and potential. A scarcity mindset focuses on limitations and fear, which can lead to unhealthy financial behaviors, such as overspending or hoarding. Changing your mindset is easier said than done. It often means identifying where your limiting beliefs come from — maybe your upbringing or past money mistakes. Then it takes time and self-reflection to overcome them. An abundance mindset means looking at how to build wealth over time. It's not just about saving $100 a month — it's about how you use that money, whether through growing assets, investing or developing passive income streams. 'Millionaires focus on wealth creation, not just income generation,' wrote business strategist and CPA Melissa Houston in an article for Forbes. They 'don't chase quick wins or get-rich-quick schemes.' Instead, they build sustainable wealth 'through investments that appreciate over time' and make sure their money works for them through stocks, real estate and scalable business models. They also invest in themselves, Houston added, whether that's through personal or professional growth, finding a mentor or building a strong network. 'They constantly improve their skills, stay ahead of trends and surround themselves with high-value connections,' Houston said. That doesn't mean taking reckless risks — or avoiding risk altogether. It's about educating yourself and learning how to take calculated, strategic financial risks. You can also start small by developing healthy habits. Create a budget, track your expenses and live below your means. Pay off high-interest debt or avoid it altogether. Set clear financial goals. Start with small, achievable ones — like saving a little each month — and build up as your confidence grows. You might even want to work with a financial advisor to create a long-term plan. As Ramsey told Isaiah, 89% of America's millionaires are first-generation rich. 'Son, roll up your sleeves, live on less than you make, get out of debt, deny yourself a little bit of pleasure,' he said, 'because you're acting like a four-year-old.' Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Robert Kiyosaki warns of a 'Greater Depression' coming to the US — with millions of Americans going poor. But he says these 2 'easy-money' assets will bring in 'great wealth'. How to get in now This is how American car dealers use the '4-square method' to make big profits off you — and how you can ensure you pay a fair price for all your vehicle costs Like what you read? Join 200,000+ readers and get the best of Moneywise straight to your inbox every week. This article provides information only and should not be construed as advice. It is provided without warranty of any kind. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
