Grandma Is Dying In Poverty

26:20$22.68 a month. Okay. Yep. How are you doing so far? I know this is a lot. I know it's a mess. I know it's a mess. Valero card? Yep, my gas card. My trusty gas card. It looks like you did gassy, but you paid it off. Yes. I pay that off every single month. I think that's it. I think that's the end of the cards. There should be a couple of more cards. There should be an American Express card in there somewhere. We're taking a look, seeing if we missed something. I don't think we did, but American Express? Yes. While we look for that, tell me about this. What is this cruise line bull**** that's going on here?

26:57Oh, this is actually good. This is my earnings from my travel business. Oh. I thought this was just like you spending. So you sell Carnival Cruise Line. I sell everything. Everything. And then you go take a carnival cruise line. My passion is traveling. I have so much going on with my family and my life. I love to travel. So most of my money goes to traveling. Well, the majority of my money goes to traveling. But I also sell it. We need to get out of debt first. I'm sorry. I know. It's a temporary thing because we can travel much more when we're out of debt. I know. Well, while actually paying for it, not going into debt.

27:32We do not have those cards. If you want to pull up your apps, that would be great. There's always hidden debt. And trust me, we thought we had all of it. I thought I saved them all. So this is Miami. No, it's not. That is Miami. What are you doing? It's Miami. Buddy, we're at 1, 2, 3, 4, 5, 6, 7, 8, 9 debts now. We can't be going into our 50s with 9 debts. Four more years. Yeah. I hope to be out of this within a year or two. It's my plan. Well, how was your plan to get there? Because you've had the debts forever and you haven't done anything about it. I'm using two apps, and I have a financial coach that I go to now.

28:18Really? Yeah, I'm using the app Undeaded. So you put all your bills or your debts in this app. It tells you how much to pay on each one every month, and it tells you how long it will take you to get debt-free. Okay. So I'm using that. And according to them, I should be debt-free in like a year, in a couple of months, minus my car, because I didn't add my car. It requires a lot of discipline if you follow it. So in order to build the budget, what we're going to do is we're putting it through our budgeting program. It's like the best budgeting program that exists online that we could find. Go through that.

28:51Go through the few hours of classes. Take the quizzes. Make sure you're actually learning things. And then we also have a debt payoff thing, and we're updating it, too, to make it even better as it goes and goes. and it will plug in, like, with your budget and everything combined. Like, we can make sure you're actually getting to the place you want to get to. Okay. You're$139 from the limit of this card. And I... What the f***? Did I... I need to make a payment on that card, actually, this month. Interest,$59.04. There's no minimums left this month, it looks like. But what I am trying to figure out is what the normal minimum is.

29:28It's$84 a month. Okay. These are stacking up. I would like to see your purchases. How do I get there? Oops, sorry. Go ahead. Let me see. Under Armour. And paying for things at the airport. And electricity. Yeah, but that's not bad. I wouldn't put it on a card that's maxed out, but at least it's not a purchase that needs to be like. You have other debt? I have a venture card. let's get on to the 10th debt venture you know the app you're using and the program you're using relies on you not spending the money that you're spending I always have to go in and update the amounts when I actually do spend on the cards which we're always doing I don't know who this coach is but

30:25please don't be a big bounce please don't be a big bounce

30:33What the f*** But that's all spent That's what you just spent You spend more money than the money we have you spending An extra two Did you pay this off No No no no What the f*** did we possibly buy What did we possibly buy What is it Cafe and rent You put your rent on this Yeah I did First of all You know you're gonna lose Like fees and Putting rent on a credit card Well that credit card Has no It's 0 % 0 % what Oh Okay Great Still fees can hit though Let me try to find any fees I'm not seeing any Sometimes Like the charge of rent Can be more on credit cards though It is It is It was like $50 Dude you make too much Money and your rent Is so minimal Even if the rent Was the$2 ,000 Whatever That comfortably fits in Your income But it's really $800 because of your kid.

31:29Then we had to get Cajun. We had to get Cajun. Okay. Any other dots? I have a payday loan. You do not. I do. It's not mine. It's not mine, but I'm paying for it. No, no, no. It's not mine, but it's my brother's. Oh. We went out of town, and when we came back, he had wrecked my niece's car, and he didn't have any money to get it fixed. so I helped him get the money to pay the car. He didn't have any insurance under his name? No, because he lives in New York so he doesn't have a car or anything like that. Why are you paying for it? What does he do? He lives in New York. What is he doing for a living?

32:08He's an aspiring actor so he's a waiter. Oh, so he's around and you're having to pay for it. Well, not really. He just came off tour and when I talked to him about it he thought I was taking the money out of his account because he's on one of my accounts and to pay off the loan and I told him no because you can barely pay your half of the phone bill. His half of the phone bill? Yeah, we're on the same. He's on my plan. He's on my plan with me. You guys, you're in your 40s. We're not doing that. I have a problem. I help people. You do. I do. And again, I love that about you. You're just f***ing yourself.

32:45What is this payday loan? How much is it?

32:54You shouldn't be paying for this To be very clear His f***ing responsibility He's gonna pay you back He's gonna pay you back, yeah? Yeah, yeah When I talked to him about it He was like, when he gets a better job Then I can start taking it out of his account So 35%, okay It's better than most Yeah, most paid loans Yeah It's still death, insanity Crazy, worse than credit cards Oh, no Oh, I think I have the current balance on there Not on there That's just the original document The current balance I don't want you The one thing I don't want you to become is a Please don't become a I'm trying not to be You're breaking like all the rules I'm sorry I know That's the current balance on that one Actually saying it And seeing them Like this it looks pretty bad Oh It looks really bad It looks really really bad It looks really bad Interesting It's almost like this show Works its intended purpose $128 minimum monthly payment Oh no, that's every two weeks That's every two weeks $2 ,805 balance Okay,$128.92 times 2

34:16$257.84 checking account checking account checking account nothing in savings okay awesome 44 and this is the little roundup stuff that you do yeah now let's see you asked for my heart rate i'll give you a heart rate monitor because i feel like i'm dying right now yeah let's see heart rate current monitor sits at 113 you got me to 113 that's high well mine's probably higher than yours so We started with$2 ,300. We ended with$928. That's not great. Oh, look at this. Look at this. I'll make sure there's no personal information. Okay, there's not. Pink equals bull. The other things equal necessity.

35:01Mm? Mm. If we don't have money, if we can't even pay the minimum, if we can't even pay off our debts early, should we have this high of a percentage of bull? No. Marble slab. Uh-uh. Fishing? Uh-uh. McDonald's. Dart. Oh, I rode the train to the state fair. Choo-choo. No. To the train. Well, it was cheaper to ride the train. It is the park. Okay. Well, never mind. It works. Thank you. Thank you. But also don't go to the state fair. You can't afford to live. I got a free ticket. And then you spent money to use it. True. True. Something in a plaza. Sending out money. Cash app. More Spirit Airlines.

35:40Golden Chick. Thai. Love me some Thai. I love Thai food. No, you don't. Not anymore. You hate it. Tom Thumb. Tom Thumb. You go to Tom Thumb every second of your life. Shop Fund. Tick toes. Tom Thumb. Biscuits. Panda Express. Apple. Bill. NNT Cindy's. Raising Cane's. No, I think this calendar budget thing actually makes sense. So we can do that. That obviously makes sense. I use that to keep track of my budget. Do you use Tom Thumb to keep track of your budget or does it ruin your budget? That's the grocery store. That Tom Thumb. Tom Thumb, yeah. It's like an Albertsons. It's like an Albertsons.

36:19Yeah, it's something. It used to be right next door to my apartment. That's why 2 ,900. Probably, yeah. Spotify, we can listen to ads. What we're trying to get out of debt. Series XM, no one even uses that anyway. Don't know why you have it. Afterpay. What are we afterpaying? We were already doing all the other but spending it on the credit card. Louisiana, Famous Fried, Dallas, and Chick-fil-A. And then Roundup transfers, blah, blah, blah. Zells, all the good stuff. Lots of Zells, lots of Zells. It's all in every second of our life. Emergence fund,$262. So, yeah, let's not go to the state fair where we spend more money if we don't even have even close to a fraction of a percentage of a small part of an emergency fund.

37:00Vacation? Vacation debit? Vacation? Vacation? No. You're not going to escape your debt by flying away. It's not how that works. Okay, now this. If we were not 46 I'd be happy about$100 ,000 To$14 ,000 in retirement This shows you've at least You've done I've lost my mind At this point This shows that you've Outstanding loans Are you borrowing against this? I did it once I needed furniture when I first bought my place in 2020 So I have loans But you still owe$7 ,000 I still owe on those loans I didn't catch this when we were going through it before. I forgot all about them. They just come out of my check and it's just...

37:47$7 ,778.37. I don't know what the interest rate is because I did not catch this. It's like 4.5. That's still money. I don't know what the minimum of payment is either. So the Bank of America 401k plan, Vesta balance,$107 ,000, which I like. this says $122 ,000. Yeah, that's my current balance. Okay, so good. Yeah, the market's had a big just upswing recently headed into this, so that makes sense. Listen, this is not a bad balance as far as balances go. I think the average retiree, average, not median, median's obviously worse, but average being carried by wealthy individuals mostly have an average of $300 ,000 in these types heading into retirement and you'd be right around then?

38:42If we consider it doubling every seven, eight years or so?

38:48The percentage that I invest every year goes up 1 % every year. So I'm at seven. These market returns are not beating 35 % of the payday loan. They're not beating it doesn't make sense. Mathematically, it's not making sense right now. Unless you're getting a match, I would be doing 0%. Yeah, they match 100 % of my job up to 5%. Well, I would take that, and then I would negate the other two for now. Then I would max it out eventually. But to be clear, again, this number, I think we're going along with average. You're still behind where I'd want you to be for the retirement that I know you're going to want to live, especially your traveling enjoyment.

39:27So that's still dramatically behind where I'd want you to be. But I am glad you got there because I could be talking to someone 46 was 0%. Zero. Right. I should have looked at the minimum monthly payment. It's taken from your pay, though, before it hits? Yeah, after taxes. Okay. So it's like$200. And we don't have to put that in the budget anyway, but we'll put the pay off. Okay. Either way, I mean, you have like a, what,$120 in there, but your debt is closer to, with the new debt that we now know you have. Almost$60 ,000 of bad debt. There's nothing there working for your benefit. There's no real estate or anything.

40:07So this is all just shit. It's all just shit.

40:13It was higher than that with my student loans, but they were forgiven. So they were like$55 ,000. Now I can just focus on the credit card, which are pretty bad. Now that I see them written out. 4.5 % of your spending went to paying off debt. But again, grocery? It was like 20 to 20%. I cannot believe I was spending that much money on groceries. Welcome to reality. a 4.5 was to debt but 4.2 went to eating out or sorry 4.6 went to like unnecessary that wasn't eating out just extra unnecessary things like uh other large purchases like spirit airlines royal caribbean cruise and best buy came out to an additional 4.4 percent so by now you could have uh basically 4x'd yeah 4x uh how much money you put towards your debt you could have but you're choosing but then we also had let's see unknown shopping let's see where that went Usually that's stuff like Amazon.

41:03Yep, Amazon. Apple, we don't know where that is. Usually it's in Amazon. There's your consulting thing. That's business. We can hopefully write that off. Afterpay. Oh, the Afterpay was the big chunk in there. Walmart and Target, you never know exactly what that is. If that's more grocery, that's not necessarily good because we already spent so much. So that's an additional 4.4%. Oh, no, no, no. 6%. 6%. So this is not including groceries. With unknown shopping, bulls*** food, that's 10, and then 15 with miscellaneous, round it to 20 with the other large purchases, 20 % of our spending. 20 % of spending that went to nothing productive that could have gone towards the debt when you only put 4.5 % of your spending towards debt.

41:47That's your future. That's your future that you chose to say, nope, not taking care of my s***. I'm just going to spend money on living life around instead of actually taking care and doing it. Now, transportation. This is expensive with the car insurance and the car payment and tolls and then the Dart thing and then Ubering and then gas. They came out to 11.2 % or$1 ,130 total. Well, I just talked to my insurance and had my insurance lowered. So that's going down. From$246 to? Well, I paid$171. You're paying for two people's insurances? No, just one. One my... We have 246. It's... Oh, either way.

42:31What is it now? It's 150. Yeah. All right. You're going to go through the program and you're going to make an actual concrete budget that applies to your situation and all that education will help you, but obviously we only have limited time here. We're going to do a loosey-goosey budget to give you a concept of where we could go, what direction we should go towards, what we should do in order to get us in the place. We're out of debt after how long? Rent,$2 ,209. Yes. Utilities. I budget$150 for electricity. About$100 a month for water.

43:11I think that's it. What about internet? Oh, internet is$150 a month. What about gas? No gas. Okay. It's electric heating? Yes. That can be expensive. I turn it off a lot I would Get some blankets Looks like we go to the gym 24.96 24.96 yes Totally supportive I just lost like 50 pounds Come on Thank you Gotta get that cruise body right Exactly and I'm going on a cruise in December You are not No you're not What is this a joke No I'm serious I'm serious Are you serious about that So you're not serious about your future I'm very serious Here's the thing I have to go Like I have to go Like if I don't go What the I'm disgusted right now What do you mean I just I can't I can't I have to go It's already paid for It's already paid for It's already paid for Refund Can you No it's too late We leave in a couple of weeks who's we me and my it's okay i'm on a third wheel type of thing my friends like to travel with me but they like to travel with their significant others and i don't have one and they still want me to go so it's my two friends their husbands and me and it's on a cruise and i've never been on royal caribbean so it's kind of like research oh f*** off f*** off so talk to cps see if you can write it off but f*** off so yeah what did you spend on this i spent about i spent 1200 and i took i took it out of my budget oh what budget there's no no no no it didn't come off of credit cards it came off of no no no it did no no just one just one you know why i did you know why i did go to your credit cards because you didn't pay any extra on your credit cards and your credit cards weren't paid off and if your credit cards weren't paid off and you were doing this extra thing that means the money that should have been going to the credit cards was not put to the credit card tool went to the credit cards.

45:16That is true. That is true.

45:20That is true. I don't even want to finish this. We're putting a cruise. That's very disappointing. I didn't put a cruise on my credit card. Are you saying I'm putting a cruise before your future? Okay. Okay.

45:35But I use the money from my travel agent to pay for it. My travel agency to pay for it when I got a commission check. Doesn't make it better, but. Where could that commission check? Some of it does go to... Where could that entire commission check have gone? To a credit card. To my debt. Don't try to justify it. You're going to ruin me. How are we doing groceries in this house? Okay, so now that we have moved, my oldest and his girlfriend are doing groceries. I don't pay for groceries anymore. At all? Any? None. Okay. None. Good. I understand the divorce one. Going through a divorce. Why the f*** are they still there?

46:09they're still there because my son got a job but she lost her job and they have two kids so they need like a two bedroom or whatever they don't have an emergency fund no they don't have anything now i have an emergency fund as an emergency then you move back in with your parents yeah i'd get on there and be like yo let's save up an emergency fund i had thought about the money that they give me not actually using it towards anything but just keeping it and then saving it up and then giving it to them so they'll have enough money to move? No, they're adults. They're adults. I would say yes as a caring person.

46:44Absolutely do it. If we were not just drowning in 35 % at our peak debt. No, we're not doing that. Unfortunately, we're just not. Okay. I'm sorry. We're just not. Okay, I'm giving you like 100 bucks for makeup and called 12 Paper Fund. You're welcome. Thank you. Already paid for the cruise. Gotta look pretty.

47:06ongoing medical prescriptions anything um they're all paid they're all paid for my prescriptions are paid for every now and then i go to the doctor and i pay like a co-pay um or i pay like when they take lab tests and then i have to pay whatever my insurance doesn't pay so every now and then maybe it's like 50 every six months or something when i go to the doctor okay for the lab test Okay Gas we had about 112 That sounds reasonable Yes Yes

47:40No more to bring No more tolls Those are Those are from my stepmother No more tolls I moved away from the toll road So now I don't take any tolls Because I used to live off the toll wing Conscience is now 150 Phone bill Your portion 135 The other portion is paid The other portion is I take from my brother's account and pay his portion. Never any issues with that? No, I always take it out. So he doesn't even know I take it. I just snatch it. Can you snatch the$257 for the payday loan? If he has enough money in there, he told me I could snatch it. So I think he just got another job. He's just waiting to get paid.

48:21So he says once he has enough, then I can start snatching that too. I'm not going to put that in. Wait, wait, wait, wait, wait. Did you take it out? Is it in your name? Yeah, he No, no The payday loan? Yes, it's in my name It's in my name Because at the time He didn't have a job

48:41Now I'm having an emergency But there's an emergency Okay Okay Okay Okay Okay What else do we need to survive? What else? Where are we at? Okay, you have rent Utility, gym Toil paper Gas Class, car insurance, phone, rent as insurance,$20? No, I paid$75 a year, so I've already paid that. It's not even worth putting in. Okay. Anything else that is required for you to survive? No. No. I don't really go out. I don't do too much, so. Put in an extra$30 for car maintenance.

49:23Cool. It goes to oil changes, it goes to fixing, getting a tire and all that stuff when it needs to happen. Let's figure out these debt minimum payments because I'm about to drown in numbers. Death numbers of kill me.

49:44You are a brave. Very brave. I respect that. Very brave. I think my brother is the only person that knows that I'm doing this. I didn't tell anybody. You're a bad. No, you're truly a bad... Because I know I'm very tough. I can take it. I'm tough. So... So without the payday loan, of which... It's in your name, so we have to do it. I have to put it in your name.

50:12Okay. So... Debt. And this is the insanity part.

50:19$1 ,682.56. A month.

50:27so necessary minimum in order to survive this is not calculating them paying you rent but necessary for you to survive four thousand eight hundred forty three dollars and fifty two cents a month yeah oh okay total income that came in was five thousand six hundred ninety nine does that sound up all right uh yeah it depends on overtime so it can go up and down what would you say is average that hits your account on a monthly basis probably i average about 50 56 so That's about right. Okay. Yeah. I get a raise in a couple of months and a bonus. Good. All goes towards debt. Yeah. This is insane. You make too much money.

51:03Your budget's overblown because you're trying to help everyone. You're trying to do everything. $756 is not what should be left over on a monthly basis. I mean, just to get a one-month emergency fund, and this is crazy. Usually, our first step in paying off the debt process is to get a one-month emergency fund. That takes six and a half months. That's a step one. Wow. And you make way too much money for that to be a thing. Obviously, a bonus will get us there quicker. Obviously, a raise will get us there quicker. More commissions will get us there quicker. Right. I do have commissions coming in.

51:31Good. Yeah. But if we're still averaging at that number, oh, man, we're already at an hour. So I'd go on and talk to you forever, but I'm just trying to think. Okay, the reality, we said about$60 ,000. So include the one-month emergency fund in that. Actually, let's include a six-month emergency fund total that you'd save up after the words, which 4844 minus the debt payments, which we wouldn't have anymore, gives you a monthly necessity of$3 ,162. Times that by six is you need a$19 ,000 six-month emergency fund. Plus that by the$60 ,000 of debt you have. Okay, so you need$79 ,000 is back to just like step zero.

52:20of financial like being okay. Divide that by the$756. We have a month extra. Takes 104 and a half months. Oh, gosh. Okay. That's a couple months. That's a couple months. Basically nine years. Now, something that changes this situation. You collect$1 ,400 in rent. Yes. So, what we can do. Now, this we want to be a temporary thing. Yes. Very much so. But you might not have the option for it to be a temporary thing. you actually might need to house hack with them for a bit. Really? As long as you're not giving them extra shit. Them helping you pay rent might be like, this brings you to an extra$2 ,156 a month.

53:04Now, I don't think you're going to be able to keep that the entire way, but what did we say? You needed$80 ,000? Is that what you said? Yeah. $79 ,000? Okay, so divide that by 2 ,156. 36 months versus 100 whatever months. Okay, 36 is a whole lot better. Right? three years, three years, three years, three years with them paying you though. I don't think they're going to live there for three years. No, unless they're just like lazy, but I'm not going to take any assumptions. No, probably not. So that becomes very hard for me. Now, what that doesn't include is if you pay off the debt, the middle monthly payment is going to go away for that and you put it towards the other debt, but it also is not including any interest that's going to accrue.

53:42So I'm essentially allowing that to offset itself. what because i am since since the whole house situation is kind of like clearing and everything is getting settled so i have started back paying off so the the capital one will be paid off i'm putting more towards the irs um yeah next month so i'm in the process of going back and starting back paying off my debts i couldn't figure out what the irs interest was what i would do since that's already been negotiated you're already having more withholdings from your account First of all, sit down as a CPA, see if you can write off anything from your extra$5 ,000.

54:20But whatever. What I would do, the high priority things I would take advantage of now, is get to that one month emergency fund, which you'll be able to get to in a couple months with the rent they give you because of that. So as long as they live with you, we're throwing this$2 ,156 towards the debt. We're not having you paid for fund. You're going on this cruise, that's going to be the last time you do that for a few years. Before you do anything that's paid for. Are you going to go to a park or your friends are going to pay for things? Or are you going to get some, you know, gorgeous person to take you on dates in downtown Dallas?

54:52You know, take you to those expensive steak nights. So that's an option. You're not paying for it. It's not an option. Oh, I guess. Okay, never mind. It's not an option. Well. I wish it was, but it's not. The kids will take you then. So I need you to get that one about the emergency fund first and foremost. I'm doing smalls to largest snowball on this because you just have so many debts that you chipping away at the minimum monthly payments is going to help. Technically, the avalanche still saves more money over time, but you're going to see more progress, and that's going to be helpful with this many debts.

55:22If you had this within three debts, the interest rates were high, mid, low. I would do high interest, then mid, then low. We're just going to snowball smalls to largest, so I would attack the NFM first and just go from there to the smalls to largest. Actually, the Nebraska would be first. save yourself the minimum payments. I know it's interest-free. Well, okay. I mean, I would throw a little loophole in there. The interest-free ones, the Nebraska and the other one, I would admit a monthly payment until those are paid off. And then I would do smalls to large. Just all the other ones. Pay day long.

55:55This is another thing. We're having a conversation with a brother. Yo, I'm sorry. I know you live in an expensive place. I just simply can't afford this right now. Love you. You're paying for it. Be an adult. So I'm taking this from you on a monthly basis no matter what. It just needs to be a thing, and you've got to put your foot down on that. This is not a thing. You're going to get your mom needs to pay you back immediately for that other one, so those are the high-priority items. So you start minimum monthly payment. You minimum monthly payment on everything. Smallest to largest on the debts, except for the ones that are interest-free.

56:25You're doing what is necessary to pay those off before interest is accruing. You're getting a two-month emergency fund. You are telling your brother that the payday loan is being taken care of, that he is going to pay that$2.57 on a monthly basis. More than that, if he wants to save one interest, but he's paying for it now. But the risk is still in your book. That's what I hate. And your mom needs to get her$0.00 to sell the house, and it might not be the best market right now. I don't know. It's more of a buyer's market, even though the interest rate is$0.00. Texas had a rough go for selling in general this year.

56:58But she needs to pay whatever she owes you back, whatever one that was. was that the was that the nebraska one that was the nebraska yeah that's one of the nebraska ones so however get that money and i wouldn't even put that money towards it i'd put it towards whatever the smallest one still is at that time and just still interest free that one right until it's done that's what i would do it's gonna it's gonna take a long time okay let me throw another thing and when they inevitably move out um try to see if they can all move out around the same time so there's not much you know like one moves out and then we're sitting for six months like waiting for the other person like you gotta go once they all move out we're gonna downgrade you we're gonna downgrade i'm in a four-bedroom house exactly it's it's too big if we can get you like 1500 bucks a month i mean that still slows down your progress because it takes you from like 850 or whatever that you're actually putting towards rent and almost doubling it so that's still gonna slow down the progress my best guess is this is gonna take about with all those things included from now paying off all the debt to an emergency fund six months four to five years okay is my guess sucks sure no one likes to hear that but it doesn't matter because it's this is already where it is it's already where it is i don't want you to go through bankruptcy or anything like that i don't think that's necessarily a thing you have to do right now um i know it's another interruption but you can get$5 ,000 by listening to the end of this.

58:29Right now, if you transfer your portfolio to Moo Moo, which I personally use for my individual stock picks, you can get up to$5 ,000. It's literally free money and an amazing investment platform, and it's what I personally use. So check it out in the description below. I highly recommend it. I think you can buckle down, take care of this, make more money, by the way, through the raises and grind those commissions. Work as much overtime as you can. Drop it down to three to four years. That's awesome. Cool. We're approaching 50-51 at that time. you have a decade to contribute like 35 % a month, maybe even 40 % if you can, to retirement, and we can still get you to a solid, comfortable retirement.

59:05You might be working towards upper 60s, maybe 70, but you're going to be pumping it, pumping it, pumping it, stacking up that cash and trying to take advantage of some kind of compound. You're going to talk to a financial advisor and figure out your risk profile, where you said if this is going into a more conservative, balanced, more aggressive portfolio, you're going to figure that out. You and your financial advisor will figure that out, but I need you to get this money going. But in order to do that, we need to beat down the 35 % interest first. Right. So that's what the next four to five or three to four years look like, however you decide to do it.

59:38Okay. What do you think? I just gave you a huge thing. You did. You did. Yeah. I'm good with it. It needs to be gone. I don't want to go into retirement with debt. So it's like getting like heavy. So because I know I'm getting close. So it needs to go. Life is bright on the other side. The other side of the tunnel is bright. It is. It requires sacrifice to get there. Yeah. So I really see three options. I see one correct option, but I see three options. What we just talked about, getting out of it, setting yourself up for a comfortable retirement. two, declaring bankruptcy don't want that option three, probably just never retiring to be completely honest those are the options that I see I choose option number one sacrifice now no more cruises temporarily friends can pay for that if they want to dude, if they want to gift it to you go for it don't ask, but if they want to gift it let them know your situation let everyone around you that you're really close to know your situation send them this video, they'll know your situation

1:00:48Oh my god. You can get out of this. Just work hard, please. For the sake of your life, for the sake of your future, it's so important. And I would start putting our foot down on just some of the kids' things as well. Educate them a little. Educate them a little. I'm happy to put them through the budgeting program as well if you want to send us their emails. If they want to take advantage of that, they can figure that out. Get a six-month emergency fund, and then they can move out, and they shouldn't ever have to move back in again because they'll have a six-month emergency fund, and they'll be good.

1:01:14They'll never have to rely on you. I think we need to start putting our foot down on mom, on kids, on brother. You're nice. You have a big heart. Don't let anyone take advantage of it. Okay. I think that's my problem. I just hate telling people no, especially family. It's hard. It's really, really hard. It is. No, it's incredibly difficult. But you matter. Your future matters. Thank you. You make sure you're telling yourself that. you need to make sure taking care of yourself isn't not taking care of others. It's not putting yourself in front of other people. Being selfish is like, okay like, what?

1:01:52Five french fries in front of you take it all. Like, you didn't need that to survive. You need to do this to survive. It's not selfish taking care of this. You know? Any final thoughts? Any final questions? I'm good. I appreciate it. I appreciate you going through it, writing it down, because I would never do it. I'm thinking I'm in a better place than what I am, and I'm not. So it's a very eye-opening experience. That's why we do what we do. And now we show you there's a way out of it, and we're going to put you through the program and make sure you get there. Okay. I appreciate it. Hammer financial score.

1:02:24Well, obviously, that budget was completely blown to smithereens. So that was just disgusting and terrible and, like, the debt. Same thing. IRS debt? Come on. Zero out of 10. IRS dead immediate zero emergency fund it's a generous one one out of ten because we weren't even a tenth of the way there we were like a fortieth of the way there retirement average average doesn't mean great because average retirement is pretty bad but I'll give a five out of ten real estate zero out of ten was higher at one point unfortunately sold it hopefully we'll get back into it eventually .5 out of ten hammer financial score for now don't forget to check out the resources linked in the description below there what I use or would use in specific situations, including the best budgeting program in the history of the internet.

1:03:13All right. Thanks to all of our Patreon producers for making this episode possible. If you want to participate in an episode of Financial Audit and you're able to make it to Austin, Texas, please fill out an application in the survey linked in the description below. You can also send a link to your friends or family who you think might be good to be on the show. If you have any questions, you can email casting at calebhammer.com.