My Parents Want My Inheritance From My Grandparents | Sorry We Missed Your Call

[Music] brought to you by the every dooll app start budgeting for free today we get a lot of voicemails a lot of calls we can't take but the producers they comb through painstakingly and find some of the best voicemails and occasionally we'll do a segment called sorry we missed your call and producer James has a few calls for us a few voicemails lined up for us James can we play the first one here we go I have a question about a trust my family is involved in and my wife and I just were were notified that Grandma had passed away and and left us one quarter of a multi-million dollar trust and but we're just feeling really weird vibes from her parents who basically um felt like they got skipped in the inheritance of it and that we should give them the money back somehow anyways if would love to ask about what we should do with this money and how it would work thanks so much bye wow so oh man Grandma pass and says hey the kids aren't getting Jack squat the grandkids are going to get it yes and so here's the deal um man since since there's only one side of this call we can't ask any questions the fact that their first response was hey that's bull crap we got skipped give us our money may be a reason why grandma was like I'm not leaving them any money I'm going to leave it to the next Generation yeah well especially I mean Grandma clearly was doing well managing her money and creating this wealth so there was a piece to me that says there is a reason maybe it wasn't that the parents are mismanaging I know but it's more fun for me to create some drama you know we we say you know maybe the parents she says Hey the parents they're fine they're older they've got money the kids I want to give them a leg up as they begin their Journeys as adults who knows what the reason is but the the truth is they can feel all the weird Vibes they want and be as mad as they want but this was not your decision yeah and I would not give them a penny of this money uh you don't have to gloat and hold it over them but this is not it's it's really not your money to give grandma gave it to you yeah I mean I I guess it technically is your money to give but I I I just wouldn't um I like what you said I wouldn't I wouldn't I wouldn't just go buy a bunch of new cars and new houses and be like wooo like I would be smart with it I'd sit down with the smart Vestor Pro and invest it wisely but here's the thing we're just feeling really weird Vibes um I don't do really weird Vibes when it comes to relationship if you have a challenge call me if you have a problem let's talk about it otherwise um I'm going to go do the next right thing and grandma left you a quarter of a multi-million dollar trust uh be a wise good Steward of that money and use it as though grandmother's sitting at the table with you in ways that would make her smile and bring her bring her peace and this is your your wife wife's battle with her parents to deal with I wouldn't get involved as the son-in-law no but you can buy one of those electric Hummers that the wheels turn sideways and they Park themselves are kind of rad looking that'll really make them angry so that's what D do with it yes I'd get with a smart Vestor Pro obviously run it through the baby steps pay off your debts invest for the future and hopefully you can do the same for your grandkids one day maybe skipping your kids just to keep the tradition going I like the tradition I like to every other one we got another voicemail James you got one in the tank all right let's see what we got next my wife and I are baby step seven and we owe nobody a dime but I have several Vehicles two collector cars and a cabota tractor that I need to take care of our 7 acre property do I sell my toys because they're worth more than my annual income even though they're all paid for and that's my question we're investing everything to Ramsey Way thank you great question so baby step seven meaning they have completed all the steps they paid off their house they're Building Wealth giving generously but he's got a lot of toys the collector cars the tractor and they're millionaires some of some of it we can agree is for fun some of it he's saying he needs to take care of this large property and so I see no problem with this I when we say here's the parameter that's why he's calling in we have the parameter of hey everything with wheels and Motors shouldn't add up to more than half of your annual income so let's say he makes 100 Grand and the toys are worth 120 total we're going that's a lot of Your World tied up in what we would say are depreciating assets the tractor's not making the money the collector cars aren't May hold their value who knows the collector cars might be a little iffy on this one several Vehicles so if it's Weighing on him I would say sell what you need to get the weight off your back but as far as financials go I mean there's nothing on fire here either no and I think the weight is he wants to do everything quote unquote the ramsy way and we have this principle um I think the principle begins to dissolve when you become a millionaire and you're a multi-millionaire and as Dave says could you take one of those collector cars and set it on fire in the living room of your house and it would make a mess but it wouldn't it wouldn't hurt your netw worth yes you're good do you need a tractor to run your property yes and so we're not selling the tractor you've paid for it you own it it's in cash it's a part of making your life run let's don't let's don't do that um if you like George says yeah if those two collect cars going of waigh on you a little bit sell one of them if you want to but man you're a millionaire y'all are there you can now spend some money on some of these things and give your money away generously yeah the goal of that principle that parameter is to allow you to make it through the baby steps to build wealth right and so we don't know their net worth you could be in baby step seven and not have a high net worth so a lot could be true here there's a lot to dig into so if you're on track for a great retirement and you have plenty of money to give save and spend as you please then I would say you're on track but if you're going we're really not where we should be with our retirement we could invest more I might look at selling some of these to uh you know just get rid of the weight or maybe you're a what I would call a technical millionaire the the value of your home is a million dollars but y'all are cash poor yeah so sell the two collector cars your land might be worth a million but you don't have anything in retirement there's no in it's not because of some secret Ramsay formula it's um you don't have the money yeah thanks for the voicemails we appreciate it I would love a Kabota tractor it sounds fancy if you're if you're mentioning the brand name I imagine it's like the Maserati of tractors yeah I've no idea to I only know John Deere John Deere is I'm mainstream when it comes to tractors John Deere is outstanding I do kotas yeah I I I can I can covet me a Kabota tractor I would love one for my property um so yeah you paid for it with cash rock and roll brother there we go create your free every dooll budget today the simplest way to budget for your life