Lin

𝐂𝐥𝐢𝐩𝐩𝐞𝐫

[Lin @_Lin_inc]

Caller: “ I have a net worth of about $3 million and my Dad has asked for $55,000 to pay his debt. What should i do?”

Caller: My 80 year old father is asking my husband and me for $55,000 to pay off his credit card and car loan debt.

Dave: What’s your financial situation?

Carla: We’re retired, debt free, net worth between $2 and $3 million but we’re on a fixed income and would have to dip into retirement accounts to do it.

Dave: And your husband’s position?

Carla: He’s firmly against it. But my dad is very persuasive and I feel guilty saying no.

Dave: Carla, the answer is no. You have no moral, ethical, or biblical obligation to fund your father’s bad financial habits especially when manipulation is part of how he’s asking.

Carla: But he’s 80 and he’s my dad.

Dave: Being your dad doesn’t give him the right to your retirement. And “no” is a complete sentence. Don’t give him an encyclopedia of reasons, he’ll debate every one. Be brief, be gentle, and be firm.

Carla: What can I offer instead?

Dave: Gift him Financial Peace University. Give him the tools to help himself. That’s generous without enabling the pattern.

[Lin @_Lin_inc]

Caller: “My mom has spent $1 million on cruise ships”

Caller: After my dad passed, my mom started going on cruises. We thought it was harmless at first, but over six or seven cruises she spent $1.1 million at onboard art auctions. Her house is filled with it, and it’s worth a fraction of what she paid.

Dave: How much is it actually worth?

Caller: Maybe 10 to 20 cents on the dollar. My brother and I are trying to resell it but it’s a nightmare.

Dave: How’s she doing financially?

Caller: Reduced flexibility, but not broke. She’s also remarried.

Dave: Okay, two things. First, contact the cruise line’s PR department directly. Explain that a grieving widow was taken advantage of through their auctions and ask if they’ll buy back some of the art as a goodwill gesture. They don’t have to, but framing it as a PR issue gives you the best shot.

Caller: That’s worth trying.

Dave: Second, since she’s remarried, sit down with her and her husband together. Offer to help manage her finances going forward, come from love, not blame. The goal is protecting what she has left.

Caller: We’ve been nervous about how to approach that conversation.

Dave: Just lead with care. And Jack, in 35 years of doing this show, I’ve seen people spend fortunes on shopping networks out of loneliness. But cruise ship art auctions at $1.1 million? That’s a first.

[Lin @_Lin_inc]

@Tokyo_pi1 And then what happened? They got paid more than what they spent to stop it?

[Lin @_Lin_inc]

@Bradsongeye @Ankara_inc How can you spend this much on this?

[Lin @_Lin_inc]

@Julceee_ I’m surprised

[Lin @_Lin_inc]

Caller: “My mom has spent $1 million on cruise ships”

Caller: After my dad passed, my mom started going on cruises. We thought it was harmless at first, but over six or seven cruises she spent $1.1 million at onboard art auctions. Her house is filled with it, and it’s worth a fraction of what she paid.

Dave: How much is it actually worth?

Caller: Maybe 10 to 20 cents on the dollar. My brother and I are trying to resell it but it’s a nightmare.

Dave: How’s she doing financially?

Caller: Reduced flexibility, but not broke. She’s also remarried.

Dave: Okay, two things. First, contact the cruise line’s PR department directly. Explain that a grieving widow was taken advantage of through their auctions and ask if they’ll buy back some of the art as a goodwill gesture. They don’t have to, but framing it as a PR issue gives you the best shot.

Caller: That’s worth trying.

Dave: Second, since she’s remarried, sit down with her and her husband together. Offer to help manage her finances going forward, come from love, not blame. The goal is protecting what she has left.

Caller: We’ve been nervous about how to approach that conversation.

Dave: Just lead with care. And Jack, in 35 years of doing this show, I’ve seen people spend fortunes on shopping networks out of loneliness. But cruise ship art auctions at $1.1 million? That’s a first.

[Lin @_Lin_inc]

@flooszn Real, she’s suffering silently

[Lin @_Lin_inc]

@0xdomkelechi She is in pain, she needs help

[Lin @_Lin_inc]

@Lou_inc @Ankara_inc Maybe satisfying her childhood dream

[Lin @_Lin_inc]

@heisdenji That’s the only thing to say about this

[Lin @_Lin_inc]

@Ankara_inc I’m surprised too

[Lin @_Lin_inc]

@fermsyishere Real but she remarried so….,….

[Lin @_Lin_inc]

Ft @DaveRamsey x @johndelony

[Lin @_Lin_inc]

@heisdenji Allow that to happen and you’ll take care of them your whole life

[Lin @_Lin_inc]

@Julceee_ @Tokyo_pi1 Real

[Lin @_Lin_inc]

Caller: “My in laws are demanding back their money they spent during my wedding, should i pay it back?”

Caller: My in laws paid for our wedding but had a fine print clause, anything spent over a set budget had to be paid back. My wife knew about it, but I was never involved in the planning and only found out after we were married. The bill is $4,000.

Dave: Did your wife know about this agreement going in?

Caller: Yes, she did.

Dave: Then pay the $4,000. Write the check this week and put it behind you.

Caller: But I never agreed to it, it doesn’t feel fair.

Dave: Fair or not, your wife entered into the agreement and you’re a team now. Debating the fairness of it costs more energy than it’s worth, and letting a $4,000 debt linger with your in-laws will poison the relationship far longer than just paying it will.

Caller: Okay. What about going forward?

Dave: Two things. First, no financial agreement ever gets made again without both of you fully aware and in agreement. What your wife signs, you sign. You’re one unit. Second, no more money deals with family. Pay the $4,000, close this chapter, and keep your finances separate from your in laws going forward.

[Lin @_Lin_inc]

@NicksonVibz @Ankara_inc I know right but maybe just a little push won’t hurt anyone

[Lin @_Lin_inc]

@Ankara_inc @Tokyo_pi1 You think? Wanting validation not to pay

[Lin @_Lin_inc]

@_Jeffery0 @Tokyo_pi1 He should

[Lin @_Lin_inc]

@uncvoss Real

[Lin @_Lin_inc]

@Tokyo_pi1 An argument

[Lin @_Lin_inc]

@Paris_dnd So the wife should bare the cost of their wedding?