📈 Are you on track with the Baby Steps? Get a Free Personalized Plan Ken Coleman & Jade Warshaw answer your questions and discuss: "I can’t find a job after getting divorced," "We're about to receive $1 million," "Is my direct marketing business going to cost me more than I earn?" "How should we fund our kids' 529s?" "Should I still buy a home with my boyfriend?," "My parents want me to pay them back," Support Our Sponsors: 🌱 Get 10% off your first month of BetterHelp ◎ Get 10% off Byrna product bundles and more! 🏥 Learn more about Christian Healthcare Ministries 🏡 Get started today with Churchill Mortgage 🔒 Get 20% off when you join DeleteMe 🏦 Go to FAIRWINDS Credit Union for an exclusive account bundle! 🥗 Save 15% on your first Field of Greens order with code RAMSEY ⛨ Find top Health Insurance Plans at Health Trust Financial 💸 To find out more about student loan refinancing, check out Laurel Road 💻 Visit NetSuite today to learn more 🗂️ Use promo code RAMSEY for 18% off at The Nokbox 💵 Learn more about Timothy Plan 🏛 Get started with YRefy or call 844-2-RAMSEY 🔐 Visit Zander Insurance for your free instant quote today! Next Steps 📱 Watch the full episode for free in the Ramsey Network app. 📞 Have a question for the show? Call 888-825-5225 Weekdays from 2-5pm ET or click here! 💵 Start your free budget today. Download the EveryDollar app! ☂️Get trusted insurance coverage that fits your budget. 💼 Connect with a RamseyTrusted tax pro for help with payroll and more 🪑 Check out Front Row Seat with Ken Coleman! Listen to more from Ramsey Network 🎙️ The Ramsey Show 🧠 The Dr. John Delony Show 🍸 Smart Money Happy Hour 💡 The Rachel Cruze Show 💸 The Ramsey Show Highlights 💰 George Kamel 🪑 Front Row Seat with Ken Coleman 📈 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
Chapter 1: How can I find a job after divorce?
Yes, I got a divorce a few years ago, not really by choice, but I cannot seem to find a job. Before I stayed at home with my kids, I had a great job. I have a master's degree. And now that I'm trying to look for a job full time, nobody will really hire me. And I'm currently doing like the small business that I was doing when I was married. So it's more of a part-time income.
But I got my house is paid off. My car is paid off. I have a rental house that's paid off. So I've got that and I've got some cash, but I'm not really sure what to do with it because I don't know what my salary is going to be in the future.
Okay. Well, we'll get to the cash. I want Jade to weigh in on that and help you out. But let's just talk about this reality that you're facing. You're saying, I can't get hired. Are you not getting interviews or are you getting interviews and you're not winning the interview? What's going on?
Well, I started with looking in the healthcare business section that I was in, and because it had been over 20 years, I just could not get any kind of interviews. I've had all kinds of people look at my resume and say it's really good. Um, I mean, vice presidents, all types of people I've had look at it.
Um, so then I tried to, you know, change it up and do more marketing stuff, which is kind of what I've been doing, I guess, part time. Um, and I just can't seem to find anything.
Well, no, again, here, I'm looking for specifics. When you say you can't get interviews, um, And that's across the board?
I have had a few interviews, but not very many. I'm just not getting any calls for interviews, so I'm not sure.
What's your process? What is your process for getting these interviews? What are you doing?
I'm going online and filling out. I have different resumes tailored to different types of jobs, and then I'm sending them in. And I've been looking locally, but also I can't really move right now. I still have one in high school. So I'm kind of a little bit. I don't live in the area.
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Chapter 2: Should I invest in rental properties?
Okay, so based on what you did in the past in the healthcare industry, what did you do, by the way? Oh, I was in finance. Okay, so on the number side. Okay, so based on that, that skill set is still there. It's not like you forgot how to crunch numbers and be detailed and all the things and be analytical, all the things that it takes to win.
So you've had a few interviews, but based on all of that, that's what people are telling you in the healthcare space that your resume is up to speed and ready to go?
Yeah, I mean... I have had a few people in health care, but mostly it's just been other fields. Anyone that I knew that could look at it, I would let them look at it. But everybody said they thought it was a great resume.
All right, two things. One, I want to make sure, Christian, let's get her my Ken Coleman resume templates. They're very, very different, and they're designed to actually call attention to what I teach in my best-selling book, The Proximity Principle. So you've gotten a few interviews, but you have tried to get far more. So your percentage right now is, based on what I'm hearing, it's pretty low.
So how do we increase the percentage of actual interviews? The way we do that is through relationships. It's not going online. And I'm not criticizing you. I'm encouraging you. You are essentially playing the job lottery when you go through what is now heavy AI format when you go onto a website.
To give you an idea, there are tens and tens and tens of thousands of people that apply at Ramsey Solutions every year. They're coming through our website. But I'm going to tell you how you get hired here is how you get hired everywhere else.
I know Ken.
You make a connection. That's right. And so I'm going to give you my book, The Proximity Principle, to encourage you. But more importantly than reading the book, what's really important is that you begin to say, okay, as I'm moving forward today, as I'm talking to Ken and Jay today,
Going forward, when I see a job that I'm interested in, I'm not going to fill out the online resume submission thing. What I'm going to do is I'm going to look at that job at company XYZ, and I'm going to go, okay. Do I know anybody that works at company XYZ? If the answer is yes, we reach out to them and say, hey, do you know somebody over in this department? Because this is where I'm looking.
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Chapter 3: How to manage a million-dollar windfall?
Well, I used to be one of those guys. I didn't even think about it. And one of my buddies said, hey, the only reason to not have life insurance is if you hate your wife and kids. And I immediately went and got term life insurance. That's a gut punch. For decades, Dave, I've sat across people who've lost a spouse. They've lost somebody important to them. Me too. And they don't know what to do next.
Terrifying.
You're going to have a crisis here. You know, you got two options while you're sitting and talking to a young widow. She's concerned about how she's going to invest all this money properly and not mess this up, or she's concerned how she's going to eat tomorrow. That's exactly right. These are the two options. It's saying I love you to your family. Term Life Insurance.
Jeff Zander and the team at Zander Insurance makes it easy and affordable. I've used them personally for 25 years. They're the only people I trust. Go to Zander.com or call 800-356-4282.
Welcome back to the Ramsey Show alongside Jade Warshaw. I'm Ken Coleman. We're so excited that you're with us. Well, it's that time of year. I can't believe how fast the calendar is coming at me. And before you know it, you're going to have to pay those taxes. And you need to make sure that you've got a pro.
who knows how to navigate maybe some of the complexities, or just making sure that you are not paying too much. All of those things that are associated with taxes, you just don't want to try to do it yourself unless you really know what you're doing. That's why we want you to think about a tax pro.
Go to ramseysolutions.com slash tax pro to find CPAs and enrolled agents who have been vetted by our Ramsey team. and I was just emailing back and forth with my local tax pro, and I always tell him, I gave you some love today on the show because I sleep better because I know he's taking care of business.
I know, that's right.
You know what I mean? I do not want to get on the wrong side of the IRS.
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Chapter 4: How should we handle spending disagreements in blended families?
Yeah, me too.
Kevin, you don't need to be a landlord, and I just don't think it makes any sense. Here's why, okay? You only are talking about right now, if you owe $1,700 a month, you're paying for it on mortgage. You said it was about $2,700 that you would get in rent. That's $1,000 a month. On the low end.
Kevin, don't fight me on this one. That's a whopping $12,000 a year. Let's up it a little bit.
You're going to make $15,000 a year gross on renting this house. Yes or no? Gross. Okay, sure. All right, yeah. Now, I know you're talking about putting money in it to renovate it just to rent it. It's just burning cash.
I would sell it, pay off the debt that you have left, and take, like Jade said, take the rest of it and put it to the down payment with the million dollars and buy a sweet house and a sweet neighborhood cash because you're not making much money. Even if you pay it off, Jade gave you a second scenario. You pay off the 182, now you're in it. You're still only clearing about 25 to 30 grand a year.
And I'm being generous because that's gross. That's not including reno costs, maintenance. Dude, it is not all it's cracked up to be.
OK, we talked earlier about money and the math part of it. And you are right. There is more to money than math. It might not weigh as heavily. But is this like the house that you had your children in? Is this the house like this clearly has some sentimental value? It feels like it's more about that than money. The real estate side?
They're certainly sentimental value. I mean, if I'm paying $1,700 a month for this house, and just also looking at trends of kids moving back in with their parents and everything, I could probably, in 10 or 15 years, I could probably afford for my son to live here temporarily.
you know, to get his life set up whenever he graduates from college or my other two kids, you know, and it could just be sort of the house that we have that lets the kids roll through. I also think it's a great investment like this area that we're in now is just exploding and has become very popular.
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Chapter 5: Is joining a multi-level marketing business a good idea?
Okay, so I think he also resents your ex and how he spends so lavishly on her. And I do too. You do too. So you know what he's doing? He's correcting. He's course correcting whether he realizes it or not.
Right.
All right, so.
But I, at the same time, feel like I should be able to buy things for her and not feel any kind of way about it. I agree. I'm not saying going overboard. Uh-huh.
So it's you guys deciding on what's a normal amount and what's considered overboard.
Yeah, this is a, I think this is a therapy session or a four. I think so, too. Because I think you need a... Here's what I believe. I really believe that you two need to get with a marriage therapist. And it's a safe place. What's great is you guys are not in crisis. You told us you guys get along on everything else. So this should not be too painful.
But it might be difficult to get to a middle ground. And I think you need a – I mean, appreciate you calling us. We're not marriage therapists. But I think getting an objective, licensed marriage therapist who can get you two in the room together and we find middle ground on this. Because hearing what I hear, Jade, I'm in the middle. I think he's probably way too tight.
But I think you also need to come his way Not in giving in to his demands, but understanding maybe where he's coming from. I think this is solved with a lot of understanding.
And the daughter needs to understand it because she feels it and probably doesn't know what that is, right? Well, that's a difficult one. She feels going over to dad's house and it's like, I get what I want. Then she feels going over to your house and it's like, do these people hate me? It's nothing.
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