I know it seems scary, but this is, again, the kind of the law of the unknown, the thing we don't know anything about. We want to leave it alone because it seems scary or time-consuming, and Colin Zander, you're going to find out how seamless this process is to get properly insured. There's nothing to be scared about for switching. Yeah. Well, he

just, he said, I'm afraid to change brokers. He's afraid of the conflict with a relative. That's what amounts to. Oh, okay. I'm reading that. Yeah. Yeah. I got what I get. So, well, you know what? Same deal there.

What are you afraid of? Yeah. I mean, if you want to pay extra money just because you don't want to deal with disappointing a family member, that's just not the way I want to live. Oh, I'd rather save

money. Yeah. Well, and there's, you know, why would someone that loves me overcharge me? There's the other side of this. Who is it I'm disappointing here? The person who's supposed to be having my best interest at heart and yet overcharge me. So, yeah, gosh, sorry, I'm disappointing you. Right. Who cares? Right, yeah. So, yeah, get your term insurance in place, the proper amount. You're not self-insured yet, I don't think. I don't think your wife wants to live on $25,000 a year. I could be wrong, but I don't think she does. Derek is in St. Louis. Hi, Derek. How are you?

Hi, Dave. Been a big fan for a long time. Thanks. I'm great. Thank you. The reason I'm calling today is my wife would like to quit her job and stay home with the kids. About 10 years ago, we built a house on the family farm, which I now run. We've got a little over $2,000 a month mortgage. And I'm just afraid if she quits, we're barely going to be able to pay all the bills. We also have, we have three children. The two older ones are both in Catholic school because we didn't want them in the public schools here locally. Okay.

so what is your income? What do you make a year on running the farm?

Well, I also work full-time off the farm. Oh, good. What's

your income if she quits?

So my take-home pay from the job is a little north of $100,000. It's about $5,200 a month take-home.

That's right. 100,000 is $8,300. You don't have $3,000 in withholding. Well,

there's also 401K and health insurance.

Okay. How much is going into 401K? 15%

right now.

Are you in baby step four? You're out of debt, except the house?

All but my car, which is a $5,000 loan, I drive it for work. That's the only thing.

And how much do you have in savings other than your 401K?

I'd have to check. didn't look today. So we have $3,000 or $4,000 in savings. The farm accounts, we make some money on it. If we have trouble,

we have some money. Pay your car off today, Derek. I

could.

Yes. No, you could. You need to now. Okay. Now you're out of debt on the car, and the answer to your question is $2,000 a month on $8,300, and you've got farm income. What is the net profit on the farm that you pay taxes on annually?

Well, it varies year to year. I know. It's a farm. Yeah. Yeah. The commodity prices went to half price this year from last um i haven't got all the i haven't got everything back from the crops but honey

how long you've been doing this uh

all my life okay

so what do you make a year on a stinking farm it's not rocket science you're making 30,000 300,000 this

year it's probably going to be closer to 10 to 15 okay

some years you make 20 so you're not making much money on the farm okay i got it well

40 to 50 well except 20 okay all

right so somewhere at least by okay now um all right so you got 150,000 140,000 household income. So the question is, run a budget in detail.

We have a budget. We keep a spreadsheet.

Then run your budget as if she's not working and bank her check. Run a budget for the next three months as if she's not working and put her entire check in savings. Okay.

If

you can do that, she can come home. If you can't do that, what have we got to change so that she can come home? Is it Catholic school? Is it we move? What have we got to change? What's less important than her coming home? Both of those other things, the farm and the Catholic school sounds very important to you, but maybe, I mean, one of these things may need to give. I don't know for her to be able to come home. So, but you simply the math is if you'll just practice living on your income. Then, gosh, it's a no brainer. She can come home. You don't have anything to be vaguely afraid about. You actually have done an analysis and have proven what we call proof texting the concept. But if you if you can't bank her check and make it. you start asking yourself, what have we got to change for us to be able to bank her check and make it? And we've got to work that through. It's just powerful, the deduction that you just gave folks.