How Do I Leave The Family Business?

How Do I Leave The Family Business?
Get a FREE trial of our life-changing Financial Peace University today: bit.ly/3dI2MF3
Visit the Dave Ramsey store today for resources to help you take control of your money! goo.gl/gEv6Tj
Ramsey Solutions KZbin Channels (Subscribe Now!)
• The Dave Ramsey Show (Highlights): www.youtube.co...
• The Dave Ramsey Show (Live): www.youtube.co...
• The Rachel Cruze Show: www.youtube.co...
• The Ken Coleman Show: www.youtube.co...
• Christy Wright: www.youtube.co...
• Anthony ONeal: www.youtube.co...
• EntreLeadership: www.youtube.co...
Did you miss the latest Ramsey Show episode? Don’t worry-we’ve got you covered! Get all the highlights you missed plus some of the best moments from the show. Watch debt-free screams, Dave Rants, guest interviews, and more!
Want to watch FULL episodes of The Ramsey Show? Make sure to go to The Ramsey Show (Full Episodes) at: www.youtube.co...
Check out the show at 4pm EST Monday-Friday or anytime on demand. Dave Ramsey and his co-hosts talking about money, careers, relationships, and how they impact your life. Tune in to The Ramsey Show and experience one of the most popular talk radio shows in the country!
Ramsey Network (Subscribe Now!)
• The Ramsey Show (Highlights):
www.youtube.co...
• The Ramsey Show (Full Episodes): www.youtube.co...
• The Dr. John Delony Show: www.youtube.co...
• The Rachel Cruze Show: www.youtube.co...
• Anthony ONeal: www.youtube.co...
• The Ken Coleman Show: www.youtube.co...
• The Christy Wright Show: www.youtube.co...
• EntreLeadership: www.youtube.co...

[@jyll.7132]

That poor guy looks stressed. He needs a hug and a vacation.

[@twincherry4958]

I'm so glad that he's still married!

[@jyll.7132]

@@twincherry4958 good thing! Whatever happened there, it can't be all good. I hope they make it! Good luck to them!

[@Waterbender72]

Saw this train wreck when he said he worked with his father-in-law........ Work and family doesn’t mix, especially when you’re dating his daughter

[@RETROKING101]

Not really. My family and in laws are very close and everyone gets along. Depends on families tho.

[@Je.rone_]

*"thanksgiving dinner would taste different"* he definitely has been watching Dave💪🎭

[@justinacase2623]

Just as you will work with ppl you don't like, same goes for being in business with relatives. Keep transactions at arm's length. Tough lesson to learn.

[@Andjun5174]

Don't do business with family if your relationship isn't strong enough It does work but you hear all these stories that it doesn't because the people that make it work don't go around say "hey, our family business is working" it does work you just need a strong relationship

[@grayandgray]

Don't sell a store if it's only "yours" under a verbal agreement....

[@CaseyBurnsInvesting]

“Hey Dave, should I get out of debt?”

[@sophia4christ]

I will never do business with any family member (except my husband once Jesus connects us). Family and money is always a toxic mix!

[@jimroscovius]

NEVER NEVER NEVER go into business with family.

[@davidx4008]

I work for my father and what you have is an extension of family home dynamics. Emotional abuse financial abuse threated to be disinherited its an absolute mindfuck.

[@chrisstone5743]

Are you looking to break away?

[@issachavez1211]

So true! The relationship with them is always broken, no matter what you do, you will be the “bad kid” 😒

[@QueenStylin]

I've got a headache listening to this heartache.

[@AmberU]

No kidding.

[@medviation]

Never do business with family!!!

[@KnightsUCF88]

The thing that Dave never factors in are the taxes after selling things!

[@MJKT95]

And that’s on purpose. Taxes very so much there is no straightforward answer for every individual. It could vary because of the state that you live in, down to the county, even further down to the city. Beyond that, there are too many factors to delve into in a 10-minute call. So if these listeners are smart enough to contact a financial advisor like Dave Ramsey, they should also be smart enough to contact their accountant or CPA.

[@tmusa2002]

Married into a family business. Don’t do it!! Excited for this guy to get his situation fixed!!!

[@harrisonwintergreen1147]

Somehow his wife wasn't mentioned but I think she was a big factor in these decisions...

[@Krivaja22]

Someone needs a vacation.

[@kk-hp6ve]

Father in law smh

[@Bmayo27]

I’m glad Dave didn’t indulge in the “I told you so” that he obviously could have.

[@omaxman1]

He knew what to do. Why did he ask Dave?

[@djdoggynutellanutsack6766]

because hes afraid of daddy

[@EmileosE-CommerceQuest]

I'm trying to find a way to pass my business down to my brother if I pass away. I'm leaving to infantry, and I rather have stuff ready ahead of times. Life unpredictable

[@smithersrob]

All the loans make the whole situation administratively much more complicated because its not just a deed of sale but complete refinances on every loan. If they are both amenable to it why not sell a couple now and use the proceeds to discharge as many loans as possible, refinance the remaining loans and sign over all the deeds and leases to the appropriate party.

[@twincherry4958]

This needs to be a paid for consultant call. You gave him free advise; he decided to make the mistake and come back to get it fixed for free. No No No! 🤣🤣😂🤯

[@rockintherae]

Shut up. DR chose to take the call.

[@jacobshaw2991]

Lesson here kids is to avoid debt when building your business (or paying for anything anything). Everything becomes 100x easier when you pay cash 💵

[@themasterofdisaster1]

How do you want to do that with a restaurant...? I would not have 500k - 800k in cash for a new business opportunity. Paying cash for everything in life besides a house is the best, but for business?

[@chrisstone5743]

It's basically impossible to build up a business without debt.

[@Gus_Chiggins]

On the hook for all 8!? Oh geez 😒

[@harrisonwintergreen1147]

General partnership ... all parties on the hook for all liabilities

[@mattpkp]

Guys gonna sell a store then get sued by his father in law who legally owns half lol. Verbal agreement doesn't mean anything!

[@MR-fe7st]

So confusing

[@Aj-xl2in]

Hey Mr. Ramsey! I was thinking about starting an atm business. I have the cash to purchase the atm and some to stock it with. Any advice? Is it worth it? Considering the shift to cashless transactions.

[@MaMa-jh6bb]

See videos of Marko, White board financing, he has a video on atm's

[@MsPants1632]

This guy is holding on by a thread it sounds. One more week and he may pop a plug. I hope this works out for him:)

[@TrentJordan7]

It's a little awkward seeing a face to the voice on the other end while Daddy Ramsey is disciplining them.

[@PassportBrosBusinessClass]

Genchi Olive Oil

[@buckybarnes3803]

Oh poor Jason, what do he and his father-in-law argue about -- which Bordeaux to drink with their lobster and prime rib?

[@James-yi1vk]

Man oh man.....you have no idea what kind of problems you run into when you go into business with family.

[@classicleslie6914]

@@James-yi1vk yeah it's the absolute worst, speaking from experience as a Gen Z.

[@joeker9448]

Sounds like neither of them know what they are talking about with this

[@classicleslie6914]

It can be hard to think clearly explaining any dilemma in a family business to someone else because of emotional ties such as guilt, embarrassment/shame, nervousness/fear, and feeling like you are doing your family wrong when you are doing the right thing.

[@shree711]

Ramsey's kids want to ask the same question.

[@shree711]

@Josh S While that's true. They'd still be heirs even if they didn't work there. I know plenty of people who want to do something else because this isn't interesting enough for them or they don't have enough to do.

[@freshurb8963]

these people should not be in charge of running anything, they a foolish thinkers

[@sunnydays4966]

With that beard this dude in violated of safe and serve. Want his hair in you food? I know I use dig ditchs for McDonald's.