This Doesn’t Sound Good
HTML-код
- Опубликовано: 3 май 2024
- 💵 Plan your monthly spending for free with EveryDollar- ter.li/vkumyr
📞 Have a question for the show? Call 888-825-5225 Weekdays from 2-5pm ET or send us a message - www.ramseysolutions.com/shows...
🏦 Take Your 3-Minute Money Assessment - ter.li/fi5xhh
Explore More Shows from Ramsey Network:
🎙️ The Ramsey Show ⮕ ter.li/rqwdws
🍸 Smart Money Happy Hour ⮕ ter.li/tmj3vq
🧠 The Dr. John Delony Show ⮕ ter.li/s5yazz
💰 George Kamel ⮕ ter.li/dc2gee
💡 The Rachel Cruze Show ⮕ ter.li/a6emrr
💼 The Ken Coleman Show - Highlights ⮕ ter.li/v8n4u8
📈EntrLeadership ⮕ ter.li/g7s9g0
Ramsey Solutions Privacy Policy
www.ramseysolutions.com/compa...
You can’t rent it to the son. We all know the kid is going to eventually stop paying and they won’t throw him out.
It's far better to gift this son a lease than to gift this son a house.
Thank you! John says some stupid stuff sometimes. It’s well known at Ramsey that they tell you not to take loans from family.
Yeah, I thought about that and remembered another caller who had trouble with the wife's sisters trashing the house.
@@billyracks and a loser
Absolutely, especially since the father is guiltily himself over lost time. Bad setup.
I disagree. Don't even rent the house to him. The son needs to carve his own way. There are other ways the father can bridge a relationship back to his son, and the healthy ways do not involve money or gifting possessions.
Agreed. Father is already clearly emotional and not thinking with reason. What happens the first month that the son can't pay rent? I wouldn't trust him (the father) to be a reliable landlord in that situation. No way do I see him evicting the son with what we know. One month will turn into two will turn into three, which will cause rifts to form between everyone in the family. At MOST, I would facilitate the move by assisting with those costs, but no more.
@@michaelmiller4138 I agree, dad can help without strings attached.
I would only gift the property later if as a condition they showed the maturity to handle the bills and manage the property well after a period of time if that will was to be setup in such a way to transfer ownership. That would mean the dad needs to be a strict landlord and not be soft though, making him accountable is a better gift than a house he just can’t afford and it’s a lesson best not skipped! Trying to use the property to buy back the relationship though is a horrible idea and that needs to remain separate.
Even renting this house to the son is a horrible idea. Husband needs to work on his relationship with his son without attempting to buy a relationship with his son.
The husband is VERY impulsive!!!
BE CAREFUL!!!
So, Michelle and her husband are seriously planning to give her stepson their rental home which is 60% of their net worth and their only source of retirement income other than Social Security, leaving Michelle and her husband with the equity in their primary home as their only remaining asset. And they're doing it just so that her stepson can live above his means.
The Home(s) are in an Irrevocable Trust>>> NOT an asset,
The purpose of an irrevocable trust is to move the assets from the grantor's control and name to that of the beneficiary.
Irrevocable trusts cannot be modified, amended, or terminated without the permission of the grantor's beneficiary.
@@aolvaar8792 Michelle said her daughter is the beneficiary AND she's willing to go along with giving the house to the stepson.
@@BrianW211 After the DEATH of Both.
@@aolvaar8792 Asset can be sold and held in that trust for future use to take care of the parents if need be, be careful who you put in the trust as beneficiary!
I own 2 properties and get close 5,000 a month renters and no way handing over my son.
So many entitled people in this country. Your going to give a 40 year old loser a house, even though he can't afford it. Then he will be coming to you to pay bills. Think people!
Why such an aggressive comment? What part of the video makes you think the son is a loser? He might work hard and make decent money, but the area where his parents live is a higher cost place than where he lives now. Maybe all this was his dad's idea. I think the world would be a better place if people wouldn't pass judgement so quickly with virtually zero details or knowledge about the people they're judging.
There's a lot to unpack here. Why was the son not in the picture for so long? Was it a disagreement? Was it his mother moved away and took him? What kind of person has he become? What happens when you give him the house and he decides he doesn't want to live in Utah and sells the house and moves away. So many red flags on this one...
Also, how long has son got back in touch with dad??Is it possible he has just come around because he found out dad is "well off" with 2 houses? People do go after people/family in hopes of gaining something... How old is daughter? If that son just started contact with dad recently, that should throw red flags up.,
Broke 40-year old stepson wants to live in a fancy neighborhood in a free house 🤦. Eventually, he'll demand a free car.
There wasn't much in this call that made it sound like the son had those expectations. It sounds like it is the husband driving it, out of guilt for not having a relationship with his son for decades.
Remember, they don’t even know IF the son wants to move closer. Hope the son sees this and says NO WAY! Lol
Hard no.
Son needs to stand up and be a man for his own family
Nope, he can rent it out and pay you guys, but I wouldn't give him the house, that is NUTS!
The wife is the smart one. The husband is an emotional nut. A garden? 🤣🤣
(.) (.)
Crazy usually it’s the wife but in this case no
Giving away their only retirement savings leaves them with no choice but eating out of the ground.
Why are people so afraid to tell family members no lol
Most rich people stay rich by spending like the poor and investing without stopping then most poor people stay poor by spending like the rich yet not investing like the rich but impressing them
People prefer to spend money on liabilities, Rather than investing in assets and be very profitable
You are so correct! Save, invest and spend for necessities and a few small luxuries relatives to one's total assets ratio.
Thank you Angela Christine Derle for $60,000👍🏻. There are so many opportunities to make money here on RUclips but most people don’t know. Thank you for continuing updates I'm favoured, $60,000 every two weeks ! I can now give back to the locals in my community and also support God's work and the church. God bless America🇺🇲
Hello how do you make such monthly ?? I'm a born Christian and sometimes I feel so down 🤦 of myself because of low finance but I still believe in God.
Thanks to my co-worker (Alex) who suggested Ms Angela Christine Derle
I’m a new dad, I moved from Tampa to Santa Clara a few years ago and I’m thinking of purchasing a single family home there, but with real estate prices currently through the roof, is it still a good idea to buy a home or should I invest in stocks for now and just wait for a housing market correction? Looks like NVDA, TSM and AMD are still strong buys.
it’s a personal decision, but according to Forbes, housing activities will remain stagnant for the most part of the year, so maybe hold off a little.
well you could put a downpayment on a home and as well diversify as much as you can into Ai and big pharm. stocks like Pfizer and JnJ.
Certain Ai companies are rumoured to be overvalued and might cause a market correction, I’d suggest you go with a managed portfolio, but even those don’t perform so well, so it’s best you reach out to a proper fiduciary to guide you, that’s what works for my spouse and I making a whooping $738k in Q4 last year.
I'm an art collector, this is not very new to me but has a nuance to it. Can you assist me? how do I find a fduciary
monica mary strigle, you'll be in luck at this time of year to have a conversation. lady is hot topic in downtown manhattan and you must not be and accredited investor. Just browse.
I know a elderly widow who has a house and property, her son, daughter-in-law and their 2 kids lived on her property in a trailer. She had made all of the property over to son a few years ago and he died a few months ago at 50 years old. So of course all the property went to his wife. The mom around 80 has lost everything and it can get worse if the daughter-in-law gets married again.
Yes similar thing happened my grandma extremely poor planning.
We didn’t even scratch the surface of this issue.
- why were the father and son estranged?
- how’d they work things out
- why can’t a 40 year old afford to move there? Why can’t he rent?
- giving the son a house and pissing off the daughter is crazy. Don’t even let him rent.
There’s so much more going on here…
So he essentially wants to financially abandon his family for his estranged son. Betraying his wife and his daughter. What a great guy.
His wife might be the reason why he's a strange from his son
@@fauxbro1983even if that’s the case, and there’s no reason to suggest that it is, that still wouldn’t explain gifting him a house
@@fauxbro1983 Giving away $750,000 with no retirement savings IS TRULY STRANGE...
@@fauxbro1983your reaching aren't you but ofc men blame the women even in a scenario that has zero to do with the woman FFS
And the wife is enabling him & willingly victimising her own daughter. ALL of them, are shameful
I'm so glad I'm not married
Umm.. you need to get to work on a game plan for your retirement. If you give that house to the prodigal son he'll feel entitled the rest of his life and you'll still be broke.
Yep they are around retirement age now and $700k is something they cannot afford to gift.
did i hear her say it's in an IRREVOCABLE trust? that means it cannot be changed.
It has been done, but it's not easy. As I understand it, there are limited reasons that an irrevocable trust can be changed. I'm not a lawyer and it's been too long since I worked with anything that was related to them, so I can't say what might cause such a trust to be undoable.
She said it. Only a 50/
This lady called the wrong show. They need to book a spot with Dr. Phil
Don't they all
How will that work out for them?
@@fernleafmedia I have no idea. I’m not Dr. Phil
They have no retirement? Whole family is irresponsible with money.
How will social security cover the property taxes on $1.2M in real estate even? I don't get it. They have no retirement. They will be poor living strictly on social security.
Depends on area and assessed value
But they got gold and silver 😅
Caller's husband has "gentleman farmer syndrome." A CSA is a risky, idealistic lovely idea IF everything goes right. And folks, nothing goes right all the time. He needs to get a new Golden Book to read at bedtime.
Yeah many of us go through this phase. The reality is there is no money in farming unless you own a massive commercial enterprise. It’s a childish dream, actually.
Even just renting it to the son could become a nightmare. A friend of my father's had a house (older house, expensive inner city area, house partially renovated), and her son supposedly 'needed' to move in there even though earning very good money. Within just a few years he had undone most of the renovations and made the place unliveable (like ripping out the recent bathroom). I don't even think he paid rent to his mother. She was left with a mess.
Loser children can be expensive.
I'd buy the stepson a Wendy house and tell him he should be grateful. As for giving YOUR money/property to another persons child? NOPE!
Sell the rental, split proceeds 50/50 between daughter and son. Fair for both kids and son will be able to afford rent near them.
I find it kind of suspect that a 40 year old guy would uproot his life to hang out with his dad that he doesn't know that well.
He'd do it for a free house!
Caller still missed the point. The son is a grown man. Let him figure it out himself how to relocate. Stop care taking and enabling.
Why in the world would you have 1.2 million in real estate and essentially no other savings???? They need to sell the damn house and actually have a retiremnet
I just got done looking online at homes for sale around Salt Lake. There are PLENTY OF THEM for sale for half of that $750,000 figure.
Probably not up to his standards 😂 Some people can be very picky when they have the option to just mooch off their relatives.
Management companies looking to make those their next target and sell it to the next gullible renter for nearly his maximum take home pay.
@@tracyaf6084 I often get people ragging about how "houses are too expensive" and then show them a suitable candidate that they *should* be able to afford. They look at the pictures and give up because of the color of the carpet or "it's going to need some work."
I guess they would rather keep pumping money into their "greedy" landlords' coffers than take some initiative and tear out that carpet and lay in new stuff of their choice. It's not that hard to do.
But I guess I shouldn't complain. This kind of behavior has, and will continue to, make me a lot of money.
@@paulstandaert5709 Yep, in 2009-2011, there were 30 houses in my subdivision, 1960, 1400 sqft, 3/2 on a 6500 sqft city lot
for $40K-100K.
Absolutely. Better to sell the house and give him some money than just give him the whole house. And I wouldn't do that either.
John is gonna ask if the Husband is safe
@@christopherh.p.4680 😂
Well done. Lol
The safe question is for woman only 😂
Someone should
Haha
Im 44 and live in Salt Lake City and we have 1 income, 4 kids and own a home just fine here. Dude, grow up and live your own life not what your parents will give you.
I would be afraid was moving ... real estate pre divorce ..... years ago my ex wanted to move ... I had an inner voice that kept saying this was so unlike his MO we put our home up for sale 3 months later on the day the listing expired I got a call from the RE agent saying we had a full price offer ... I froze ..I asked if I had to sell I was told NO ....I could afford that payment 6 months later we were in divorce court
Another 40 year old child ! It's about high time sonny stood on his own and changed his own diaper.
No way!!! You never know when you will need that asset in the trust to be sold off and used to take care of yourselves.
Let's throw something else into this, what if the son gets divorced. They give him the house, he gets divorced, they have to sell the house or the daughter in law stays but the son is out. There is no way any of this is a good idea.
They need to sell that house and put the profit into an Ira so they have retirement.
"Prodigal Son" smells money....
Thats crazy infair and unreasonable.
If the son rents it, amd he cannot afford to live there in general he will " rent" it probably stop paying rent and refuse to move.
Then good luck trying to get him out.
Dont do it at all.
Dont
I dont understand this desire to enable kids by just handing them things. And kids just feel entitled. I paid every single penny of my student loans, car loan, mortgage. Singlehandedly. No one ever handed me anything. This son needs to get off his ass and work toward moving if thats what he wants.
Nothing said that the son was "on his ass." It sounds like this is all the dads idea. You can't blame the son for the dad wanting to give him something.
Solid advice
Live on social security 😂😂better be ready to move to a trailer in Ocala Florida and fish for your supper.
I’d love to hear their plan to pay for things in retirement! lol
This family is bad news all around. One housing market downturn/crash from having nothing to retire on. Should just sell the 2nd property and put the money in investments.
Did John ask if she’s safe?
It’s an irrevocable trust! It’s irrevocable. Don’t they understand that? They don’t own it anymore.
If both homes are in an IRREVOCABLE trust how do you change it?
Dad is trying to buy the son. That is not love. Dad, how about just spending time with him, do things together. Hopefully the son has enough integrity to keep his independence and self-reliance and not be bought off.
Did anyone else just bust out laughing at some of John's reactions to the situation, like I did?
Which one - father or son - mentioned them moving closer? Has anyone mentioned the son selling his house and giving his dad that $$ and then moving into the free house? Can the son's family afford even the utilities on the new house? Has the father talked with the son about his gardening plans, the son's part in those plans??? This is a nightmare waiting to happen.
That is so funny, the dad with gardening plans...yes I've been gardening all my life.
Lol love Rachel. "The math isnt mathing... as the gen zers say or so I hear"
The son will get this house, get a home equity loan on it & lose it. Sounds like if he can't afford to live there- he needs to stay where he is at. Dad guilt must be back to want to do this. BAD decision to give his this house!
My parents have 2 daughters and one son. My father decided my brother should have everything and daughter has none. He secretly transferred the asset to my brother. My brother became owner of 5 real estate properties. But it was a curse not a gift/. He became a drug addict and all properties needed to be sold one by one/. My father was against it but nothing he can do since he transferred the ownership to my brother/
Such tragedy, and we, the daughters feel so betrayed. Since my father had long promised to give us property one day we grew older.
My father and mother were adamant about equality over 4 daughters. Dad saw personality types and set up POAs to balance the greedy with the caring. He died first. The 2 greedy daughters immediately convinced Mom to switch all POA to them, leaving out the 2 logical caring siblings. So 15 yrs later Mom dies. All the parental belongings have vanished, no accounting for them. ( nothing extravagant). And they present only the remaining banked/ invested money to the Probate lawyer. So I called that office and asked, aince the will says all 4 of us split equally everything, where is the accounting of all the physical belongings, sold, taken, or trashed? Lawyer says Oooohhhhh. So i can't afford to contest it all legally, but questions are being asked of the 2 doofuses.
My concept is more pragmatic than either of these wealthy people with real estate. I would sell the property and place the proceeds in SPY of the stock market. Then create what is referred to as Transfer on Death, 50% each. This makes it fair to all plus you can change it at will later on. What the husband wants to do is wrong.
Aside from all the other issues, if they give him a HOUSE will land them with a big, fat tax bill.
We only get one side to these calls…
What is a "season"? Summer, fall, winter, spring?
The son is 40 years old, hell NO!
I understand why the husband is suddenly very excited and emotional about the opportunity to reconnect with an estranged child, but giving the house is nuts. Surely he can move to a place an hour outside SLC for substantially less money and they can still see each other.
Jk, husband is a panicking nut. Now he’s worried about the state of the world and is suddenly hot to get into gardening.
If I were in that financial drama, I’d probably be the one trying to pay bills with Monopoly money, thinking it’s all the same…
Irrevocable trust? It's not easy to change an irrevocable trust. And the daughter likely would have something to say about it since she is currently the sole beneficiary. What a mess!
Tell me if I’m wrong, but an irrevocable trust can’t be changed? I thought she said in the beginning that everything was in an irrevocable trust left for the daughter.
Why is a 40 year old trying to move to an area he can’t afford? You’re not entitled to live anywhere you want in the world. You have to live in reality and live where you can afford.
If that was her son she would be fine with it. She has to protect the daughters future which is completely understandable. But I expect the father to want to hand over something to his son. Should he have more parameters in place for the son to earn it sure.
That was bad advice for a second, they shouldn't allow him to move in there at all, once he's in there you'll never get him out, he's 40, obviously a bum looking to be kept
Give him a house he can’t pay the taxes on?
Yikes. Planning on SS to fund retirement.
Crazy, right? No one can survive on SS.
The husband is willing to live in poverty as a senior (even with a paid off house, SS will barely cover insurance, utilities, food etc) to try and most likely make up for guilt over being a shitty dad.
Where are these people going to cash to survive?!
Self sufficiency is not a bad thing. Our lord encourages it actually
All I can think is the son is coming back looking for handouts, not a relationship.
So the son is 40 years old. That makes dad in his 60's or more. Caller (Michelle) is the step-mother who sounds like she is in her 30's or 40's.... Am I wrong?
Forgot to ask if she was safe
Honestly, females need to grow a spine and put themselves in safe situations or else they are hardly ever safe.
And forget to day hunny.
@@MrMustangrick say*
Talk about throwing good money at bad money.
BOUNDARIES. The son is welcome to come & stay for extended periods of time. And perhaps he can be apart of the will in some way. But no, he’s not going to get a house free & clear or get subsidized rent when you two are still working towards funding retirement.
These doomsday people are hilarious. No retirement savings but they got 2 houses and some gold and silver 😂. Counting on big brother to pay out social security as well 🤣
Gold and silver? Lmao... silver is the worst asset in human history and gold is underperforming real estate, stocks and crypto!!
Does he want to be close to the family or close to the inheritance? Dubious to me.
I bet the 40 year old is hoping everything works out well. 😂 Nice house as a gift.
I wouldn't rent to him either.
This GROWN MAN is 40. Really, no child should expect anything. Property and money, no matter the amount is a gift. Nothing you plan for. I understand the sentiment by the husband, but his son is likely to lose the house. Atleast make him rent to own so if anything needs to get fixed, he actually will be footing the bill. He needs to understand the true cost of ownership or he'll just lose it to the city or contractors down the road.
Equities arent forever. Sometimes they decrease.
The math isnt mathing! 😂
Nope no way. I would die on this hill. If hubby doesn’t get his head straight that would be it for me. The son is 40 he can support himself. Divorce the husband if you have to to
Protect yourself. I’d see an attorney anyhow just to see how to
Protect your interests. Hopefully you’re both on the deed so he can’t do anything without your consent. Hubby needs therapy but again see an attorney to be safe.
I'm not so sure this is a heartwarming reunion, I think the dad dangled the carrot of the free home and now the son is playing the role of loving child just to get this amazing cash windfall. I can see this going sideways. Even if the caller was a billionaire and didn't need this property, I can see the husband getting hurt when his fantasy of spending every day with the prodigal son harvesting tomatoes and holding hands doesn't pan out. Money can't fix relationships. Husband needs all kinds of therapy, couple's therapy, and maybe individual therapy to come to terms with the difficulties with his adult child.
I agree that the dad needs therapy to come to terms with it all. But, there wasn't any indication that the son was a "prodigal," had made bad decisions, or even wanted this. Maybe the dad abandoned his son when he was young, and that's why he feels so much guilt?
@@bradycone In that case the free house is also not a sufficient fix. You can't fix emotional pain with money and gifts, nor is that a good foundation for a relationship moving forward.
@@rachelmaddowswife8713 Absolutely. The dad needs some therapy.
You wonder why the son was "estranged" for so long, then suddenly reappears with nothing to show for his life? And he's 40?
Sounds to me like the son is a disaster and will tip their lives upside down.
Don’t sign shit. Lol
Whenever someone starts an explanation of their position with “with the way things are in the world today”…you KNOW you’re about to hear some nonsense.
Do you think the way things are going in the world today are good and people shouldn’t be acknowledging that things are not normal? I just don’t get this. It reminds me of Noah and how everyone scoffed at him like he was an idiot, when he was only listening and seeing the signs of the times.
What is a “CFA?” She mentioned that a few times.
This is why you never marry someone with kids.
If they gave him the house wouldn't there be a very large gift tax to pay?
No.
Why not give one to each? Why should the daughter get both?
DO NOT RENT … keep them at arms length!!!!
It must not be her home. It doesn’t make sense why would hubby feels it’s cool to give to his son.
Doing any type of business or transactions with immediate family is a huge can of worms. It’s easy and hunky dory at the beginning but a nightmare to end, if it comes to it. It’s best for the son to rent elsewhere nearby and his father can see him anytime. Don’t put your hard earned money and just give it away.
This is incredibly ridiculous! This guy's son is 40 years old and needs his dad to give him a home so he can live in SLC? I moved out of SLC because there weren't careers that paid well enough in my field. My wife did the same since Nurses are not paid as well in Utah as in some west coast states. Now I'm making $179k and she makes about $150k. If you can't afford to live there, you shouldn't be living there.
It almost seems a little too convenient that his son is suddenly becoming part of their lives as they're aging (I assume this husband is between 60-65 having a son who's 40 years old). I would be wary that the son is coming back into y'all's life because he knows y'all are financially stable and wants a piece of that inheritance.
And yeah, what a ridiculous idea this husband has to give away $700k in home equity as well as all the rental income which increases each year, thus providing higher income each year in retirement to try to keep pace with inflation. This husband needs a serious talking to.
You said exactly what I've been thinking.
rent him the $90k house for 6 month lease, see if he succeeds, or similar size asset.
It's a $790K house with $90K remaining on the mortgage.
How do you know that he won’t sell that house?
the son and husband are the issue. the son is a loser that sees that he can possibly get a free $800k and ofc he is going to take that opportunity. if he is just a single dude there is no reason he cant find a $1000 a month apartment in that city if he truly wants to be close to his dad. we all know his main motivation is that free house
Hes a 40 year old man if he can't afford to live then he can't afford it. I was expecting the son to be like 20! He can pay to rent out the house if needs to.
I think the 40 year old would sell it behing her back
My prediction: The dead beat son will not do maintenance and the house will fall into disrepair...
Why do you think the son is a deadbeat? There is no indication that he even asked for or wants the house. It seems to all be driven by the dad out of guilt.
The son came back because of hard times. Would he have if not?