Make A Plan Your Future Can Trust

SPEAKER_1 (0:02)

Brought to you by the EveryDollar app. Start budgeting for free today.

George Kamel (0:12)

Normal is broke and common sense is weird. So we're here to help you transform your life. From the Ramsey Network and the FAIRWINDS Credit Union Studio, this is The Ramsey Show. I'm George Kamel joined by Dr. John Delony. Taking your calls at 888-825-5225.

That's the only way to jump into the conversation. John is in Chicago up first. What's going on, John?

SPEAKER_3 (0:35)

Hey, good afternoon, gentlemen. Thanks for getting me on the line here.

Dr. John Delony (0:38)

You bet, man. What's up?

SPEAKER_3 (0:40)

Okay, so my wife and I, we are in baby step three and looking to the future, wanting to put our money in the best place for growth, but also security. And, you know, if you talk to anybody, with the state of the world right now, confidence in the dollar, we're just wanting to make sure that it's in a place that's not just gonna evaporate basically. So wondering, is it worth investing in the stock market instead of tangible assets, let's say gold, silver, land, that sort of thing?

Dr. John Delony (1:14)

Great question, man. Thanks for asking that. I know that's in every internet news feed and lots of...

George Kamel (1:21)

Yeah, when you say everyone and everyone believes this, are you seeing headlines, the social media scrolling, or is this people in your actual physical circles?

SPEAKER_3 (1:30)

It's more headlines, news feed. I think it's probably just coming through pretty heavily on what I'm seeing on social media and who I talk to in my workplace, that sort of thing.

Dr. John Delony (1:46)

So I can speak, George's man, he is the investment guru. I'm not. But I can speak to the, last I checked, the dollar is actually up in the short term, strangely. It has been pulled from the Reserve Bank on a percentage basis more than it has been in the past, which says that the rest of the world is saying, we don't know if we can trust you guys, you'll owe a lot of money, like those kind of things.

But even foreign currencies get converted to dollars at some point. So all I have to say is, you're talking about such a structural, it's kind of like, how do we prepare if suddenly we all start breathing hydrogen instead of oxygen?

SPEAKER_3 (2:31)

Right?

Dr. John Delony (2:32)

Like it would be such a shift that I, this is me personally, I don't have one penny in gold because if we switch from hydrogen to oxygen, I don't know what I would do with a bag of yellow rocks. You get what I'm saying?

SPEAKER_3 (2:52)

Right.

Dr. John Delony (2:52)

I don't know that that would be the thing that saves me at that point, because you're talking about such a sea change.

SPEAKER_3 (2:57)

It would have to be cataclysmic and-

Dr. John Delony (3:00)

It would be.

SPEAKER_3 (3:01)

It simply would be.

Dr. John Delony (3:02)

Right. If every country in the world stopped taking the dollar, you're talking such a cataclysmic shift that it's like getting hit by a meteorite, which is one of my buddies whose works in banking once said. He's like, dude, that's a meteorite situation.

And so, but I do, man, I'm with you. And when I feel all this instability, all the uncertainty, like I've long joked like that when I put money into my, into mutual funds, when I put it into retirement accounts, I don't know if it's going to be there.

You know what I mean? And that's just, that's called risk, right? And when I've got kids, I've got my own fit, like man, I often am checking in with George, checking in with Dave like this is right, right? So that you're feeling, dude, I'm there with you. I get it. Totally.

And I think that's the risk part of investing. And whenever I'm looking at what could happen, honestly, the only thing, and it feels trite, George, the only thing I've got is to look back on history and say, here's how this has worked. And that's not always if, in fact, it's almost never a fail proof safe, like a fail safe way of looking at the future, but it's all I got. It's the tool I got, right?

George Kamel (4:15)

So there's two discussions here. One, the dollar is going to go to zero. The stock market will collapse. That is just not going to happen.

So now we can talk about inflation. That's really what you're talking about.

SPEAKER_1 (4:24)

Hey, inflation.

SPEAKER_3 (4:25)

It's going to be inflation.

SPEAKER_1 (4:26)