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The Ramsey Show

Delayed Gratification Is a Key Ingredient to Building Wealth

Mon, 16 Dec 2024

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πŸ“ˆ Are you on track with the Baby Steps? Get a Free Personalized Plan πŸ“±Watch the full episode for free in the Ramsey Network app. Dave Ramsey & Ken Coleman answer your questions and discuss: "Should I buy a $250K supercar?" "I borrowed from my parents to start a business," "How do we steer our daughter's career choice?" "Should I be involved in my husband's business?" "I'm unsuccessfully tried to settle my debts," "How do I budget my starting salary?" Support Our Sponsors: 🌱 Get 10% off your first month of BetterHelp β—Ž Get 10% off Byrna product bundles and more! πŸ₯ Learn more about Christian Healthcare Ministries 🏑 Get started today with Churchill Mortgage πŸ”’ Get 20% off when you join DeleteMe 🏦 Go to FAIRWINDS Credit Union for an exclusive account bundle! πŸ₯— Save 15% on your first Field of Greens order with code RAMSEY πŸ’€ Visit Helix Sleep for special offers! πŸ’» Visit NetSuite today to learn more πŸ—‚οΈ Use promo code RAMSEY for 18% off at The Nokbox πŸ’΅ Learn more about Timothy Plan πŸ› Get started with YRefy or call 844-2-RAMSEY πŸ” Visit Zander Insurance for your free instant quote today! Next Steps πŸ“ž Have a question for the show? Call 888-825-5225 Weekdays from 2-5pm ET or click here! πŸ’΅ Start your free budget today. Download the EveryDollar app! 🎟️ See Dave and John LIVE in a city near you! πŸŽ„You could win $5,000 in the Ramsey Christmas Cash Giveaway! 🎁 Our 50 days of Christmas deals are ending soon! Get 30% off meaningful gifts. Listen to more from Ramsey Network πŸŽ™οΈ The Ramsey Show   🧠 The Dr. John Delony Show 🍸 Smart Money Happy Hour πŸ’‘ The Rachel Cruze Show πŸ’Έ The Ramsey Show Highlights πŸ’° George Kamel πŸ’Ό The Ken Coleman Show πŸ“ˆ EntreLeadership Learn more about your ad choices. https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy Learn more about your ad choices. Visit megaphone.fm/adchoices

Audio
Transcription

Full Episode

00:16 - 00:47 Dave Ramsey

Live from the headquarters of Ramsey Solutions, it's the Ramsey Show. We help people build wealth, do work that they love, and create actual amazing relationships. Ken Coleman, Ramsey personality, number one best-selling author of the book Paycheck to Purpose, is my co-host today. Open phones at 888-825-5225. Leon is with us in San Francisco. Hi, Leon. How are you? Hi Dave, how's it going?

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00:48 - 00:49 Dave Ramsey

Better than I deserve. What's up?

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00:51 - 01:10 Leon

So I've been fortunate enough to amass some money over the years through just working and some very nicely timed company acquisitions. And now I would like to make one of my childhood dreams come true. I like to buy a super car that's worth about $250,000. Cool. Which car?

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01:14 - 01:37 Leon

uh specifically the lamborghini um huracan a used one that's a beast yeah usually 250 you're right news what 450 yeah i think so yeah yeah okay cool so what your model would that be Well, looking on some of these websites, anywhere from a 2015 to a 2017, 2018.

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00:00 - 00:00 Dave Ramsey

Okay, so a 10-year-old has lost $200,000 in value. Yes. That's about right. Okay. And what's your net worth? You sound like you're a bazillionaire or something.

00:00 - 00:00 Leon

My net worth, so I can break this down. I have a net worth, if you include the mortgage, about $3.66 million.

00:00 - 00:00 Dave Ramsey

Okay, and what do you make in a year?

00:00 - 00:00 Leon

I make about $300,000 a year, which doesn't include a 30% bonus. It's a single income. I am married with a one-year-old child, but my wife is a stay-at-home mom. And how old are you? I'm 39 and she is 41. Okay, all right.

00:00 - 00:00 Leon

39.

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