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Dave Ramsey on a single mom whose late boss left her a life changing inheritance. Caller: “My boss passed away and left me $1.25 million. I was his personal assistant for eight years. I’m a single mom with four kids, and now I don’t have a job.” Dave: “Someone... just handed you $1.25 million to manage that’s your new job. Don’t rush. Build your own advisory team. Find a trusted investment advisor, a CPA, a real estate professional, and an insurance expert.” He added: “You could buy a home with cash, invest the rest wisely, and create enough stability that you may never have to work again.” A sudden windfall doesn’t create lasting wealth. Careful decisions do.show more

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Caller: My boss passed away. and left me $1,250,000 in his will. Dave Ramsey: Your boss left you $1.25 million?! Caller: Yes. I was his personal assistant for eight years. Dave Ramsey: That's one of the most unusual stories I've ever heard. Did he not have a family? Caller: He did. His wife actually called me to tell me I was included in the will. Dave Ramsey: Wow. How did you earn that kind of trust? Caller: I helped manage his properties, travelled with him and his family, and he even treated my kids like family. He was an incredible man. Dave Ramsey: Oh my God.

Caller: My boss passed away. and left me $1,250,000 in his will. Dave Ramsey: Your boss left you $1.25 million?! Caller: Yes. I was his personal assistant for eight years. Dave Ramsey: That's one of the most unusual stories I've ever heard. Did he not have a family? Caller: He did. His wife actually called me to tell me I was included in the will. Dave Ramsey: Wow. How did you earn that kind of trust? Caller: I helped manage his properties, travelled with him and his family, and he even treated my kids like family. He was an incredible man. Dave Ramsey: Oh my God.

👑 𝐓𝐇𝐄 𝐊𝐈𝐍𝐆

2,815,737 Aufrufe • vor 1 Monat

A woman asked Dave Ramsey if she should split her inheritance with the sister their mother left out of the will Caller: I have an inheritance, and my sister was left out of the will. Dave Ramsey: Whoa… why? Caller: I think there’s been conflict along the years that never got resolved. My mom was very strong-willed, and she just had enough. Dave Ramsey: So your mom was not in a relationship with your sister, and chose not to leave her anything as a result? Caller: Exactly. Dave Ramsey: Well, that sounds reasonable. Caller: Oh wow, okay. Dave Ramsey: Why would your mom leave something to somebody that doesn’t speak to her? Caller: She said, “Are you going to split this with me? I just want to know. Because if you’re not, that means you agree with Mom.” George Kamel: We’re not taking that guilt trip. No, thank you. That’s on her. Dave Ramsey: You not giving her money is not cutting the relationship off. She is choosing to cut the relationship off. Caller: Oh, that makes sense. Dave Ramsey: You didn’t choose. She chose. I’m sorry, it hurts, though. Dave Ramsey: She’s not really interested in a relationship with you. She’s just interested in money. Am I wrong? Caller: You’re spot on. Dave Ramsey: It still hurts because it’s your sister. But you didn’t cause any of it.

A woman asked Dave Ramsey if she should split her inheritance with the sister their mother left out of the will Caller: I have an inheritance, and my sister was left out of the will. Dave Ramsey: Whoa… why? Caller: I think there’s been conflict along the years that never got resolved. My mom was very strong-willed, and she just had enough. Dave Ramsey: So your mom was not in a relationship with your sister, and chose not to leave her anything as a result? Caller: Exactly. Dave Ramsey: Well, that sounds reasonable. Caller: Oh wow, okay. Dave Ramsey: Why would your mom leave something to somebody that doesn’t speak to her? Caller: She said, “Are you going to split this with me? I just want to know. Because if you’re not, that means you agree with Mom.” George Kamel: We’re not taking that guilt trip. No, thank you. That’s on her. Dave Ramsey: You not giving her money is not cutting the relationship off. She is choosing to cut the relationship off. Caller: Oh, that makes sense. Dave Ramsey: You didn’t choose. She chose. I’m sorry, it hurts, though. Dave Ramsey: She’s not really interested in a relationship with you. She’s just interested in money. Am I wrong? Caller: You’re spot on. Dave Ramsey: It still hurts because it’s your sister. But you didn’t cause any of it.

‏ً

78,116 Aufrufe • vor 1 Monat

Caller: “I’m a 38-year-old single mother with two children. I have about $90,000 in student loans, $9,000 in credit card debt, and I feel completely stuck financially.” “I’m considering taking a hardship withdrawal from my retirement account to buy a multifamily property and create extra income.” Dave Ramsey: “That’s not going to bring stability. It’s going to do the opposite.” “What do you make?” Caller: “Around $160,000 a year.” Dave Ramsey: “You make $160,000 and only have about $100,000 of non-mortgage debt. Why can’t you reduce it?” Caller: “There’s always an emergency. Last year I had a medical procedure that cost thousands.” Dave Ramsey: “How much is your rent?” Caller: “$1,800 a month.” Dave Ramsey: “And your car?” Caller: “A $600 lease and about $340 a month for insurance.” Dave Ramsey: “I’m not hearing numbers that explain why someone making $160,000 can’t make progress.” “I think what’s really going on is that divorce turned your world upside down and left you feeling stuck.” “You’ve been carrying that emotional weight for four years, and it’s affecting the way you manage money.” “Don’t raid your retirement account. Don’t buy a multifamily property.” “Get on a written budget, track where every dollar is going, and start attacking the debt.” “You make enough income to make substantial progress within a year.”

Caller: “I’m a 38-year-old single mother with two children. I have about $90,000 in student loans, $9,000 in credit card debt, and I feel completely stuck financially.” “I’m considering taking a hardship withdrawal from my retirement account to buy a multifamily property and create extra income.” Dave Ramsey: “That’s not going to bring stability. It’s going to do the opposite.” “What do you make?” Caller: “Around $160,000 a year.” Dave Ramsey: “You make $160,000 and only have about $100,000 of non-mortgage debt. Why can’t you reduce it?” Caller: “There’s always an emergency. Last year I had a medical procedure that cost thousands.” Dave Ramsey: “How much is your rent?” Caller: “$1,800 a month.” Dave Ramsey: “And your car?” Caller: “A $600 lease and about $340 a month for insurance.” Dave Ramsey: “I’m not hearing numbers that explain why someone making $160,000 can’t make progress.” “I think what’s really going on is that divorce turned your world upside down and left you feeling stuck.” “You’ve been carrying that emotional weight for four years, and it’s affecting the way you manage money.” “Don’t raid your retirement account. Don’t buy a multifamily property.” “Get on a written budget, track where every dollar is going, and start attacking the debt.” “You make enough income to make substantial progress within a year.”

KΞRL_✂️

66,073 Aufrufe • vor 2 Monaten

Dave Ramsey tells a couple to cash out their investments to buy a house in cash rather than taking on a mortgage "No I would not borrow money when I have a million dollars in investments. I would just take some of that and buy me a house" Caller: "We either want to do 15 years fixed mortgage or a 30 year fixed mortgage or we thinking about paying cash... we are afraid we not going to have enough cash flow" "We both net around $1.2 million of just investing in the mutual fund ETF bonds and stocks" Dave Ramsey: "You missed the point. You just took out a house payment and put her in a job... When you have no payments, you make different decisions than when you have a house payment "So $350k leaves you $650k in investments, you have no house payment, there's no strain on your budget, your wife can stay home with the babies" "Whoever passed away and left you all this money, bought you your first home and that's their blessing to you. And you pay cash for it"

Dave Ramsey tells a couple to cash out their investments to buy a house in cash rather than taking on a mortgage "No I would not borrow money when I have a million dollars in investments. I would just take some of that and buy me a house" Caller: "We either want to do 15 years fixed mortgage or a 30 year fixed mortgage or we thinking about paying cash... we are afraid we not going to have enough cash flow" "We both net around $1.2 million of just investing in the mutual fund ETF bonds and stocks" Dave Ramsey: "You missed the point. You just took out a house payment and put her in a job... When you have no payments, you make different decisions than when you have a house payment "So $350k leaves you $650k in investments, you have no house payment, there's no strain on your budget, your wife can stay home with the babies" "Whoever passed away and left you all this money, bought you your first home and that's their blessing to you. And you pay cash for it"

3rdeye👁️🇪🇸

42,835 Aufrufe • vor 1 Monat

Caller: “I’m 51 and i am tired of working, I have no retirement. What should i do”? Dave: What do you make, and what’s your debt? Caller: $75,000 a year. $25,000 left on my mortgage, and $20,000 on a Harley-Davidson. Dave: Sell the bike. Today. That payment’s killing you. Any life insurance? Caller: Term life, $100 a month. No kids, no dependents though. Dave: Drop it! you don’t need it. Now download EveryDollar, budget every dollar, and find $2,000 a month to invest. Between the bike and the insurance, you’re most of the way there already. Caller: That still feels like a lot. Dave: You’ve got 10 years until 67. Invest consistently, your house gets paid off, and you’ll be secure Dave says he can still be a millionaire, there is more time.

Caller: “I’m 51 and i am tired of working, I have no retirement. What should i do”? Dave: What do you make, and what’s your debt? Caller: $75,000 a year. $25,000 left on my mortgage, and $20,000 on a Harley-Davidson. Dave: Sell the bike. Today. That payment’s killing you. Any life insurance? Caller: Term life, $100 a month. No kids, no dependents though. Dave: Drop it! you don’t need it. Now download EveryDollar, budget every dollar, and find $2,000 a month to invest. Between the bike and the insurance, you’re most of the way there already. Caller: That still feels like a lot. Dave: You’ve got 10 years until 67. Invest consistently, your house gets paid off, and you’ll be secure Dave says he can still be a millionaire, there is more time.

_Chase😈

4,332,228 Aufrufe • vor 2 Monaten

Caller: “I inherited $14M from my father I didn’t know, how do i handle this money?” Caller: I just found out a deceased family friend was actually my biological father. He left me and my mother an inheritance from an estate worth $10 to $14 million. Dr. Delony: That’s a bomb. How are you doing emotionally? Caller: I’m all over the place, angry, confused, sad, shocked. Dave: That’s completely normal. But before you do anything with this money, you need to process those emotions. Don’t make big decisions in this state. Caller: The money is held in a trust. My mother and I split about $500,000 annually. Dave: Okay. Here’s what you do immediately. Build a professional team, a personal attorney to review the trust documents independently, a CPA to handle the tax implications, an insurance broker for liability coverage, and a therapist to help you work through the emotional side. Dr. Delony: The emotional part is just as important as the financial part. This is complicated grief mixed with anger and betrayal. Caller: Everyone keeps saying what a good man he was for leaving us this money. Dave: Michael, a good man would have been present in your life. He would have known you, not just sent birthday cards from down the street. The inheritance is a blessing, but don’t mistake money for character. Dr. Delony: Take your time. Let yourself feel everything. Then, with your team in place, figure out what this inheritance actually means for your life

Caller: “I inherited $14M from my father I didn’t know, how do i handle this money?” Caller: I just found out a deceased family friend was actually my biological father. He left me and my mother an inheritance from an estate worth $10 to $14 million. Dr. Delony: That’s a bomb. How are you doing emotionally? Caller: I’m all over the place, angry, confused, sad, shocked. Dave: That’s completely normal. But before you do anything with this money, you need to process those emotions. Don’t make big decisions in this state. Caller: The money is held in a trust. My mother and I split about $500,000 annually. Dave: Okay. Here’s what you do immediately. Build a professional team, a personal attorney to review the trust documents independently, a CPA to handle the tax implications, an insurance broker for liability coverage, and a therapist to help you work through the emotional side. Dr. Delony: The emotional part is just as important as the financial part. This is complicated grief mixed with anger and betrayal. Caller: Everyone keeps saying what a good man he was for leaving us this money. Dave: Michael, a good man would have been present in your life. He would have known you, not just sent birthday cards from down the street. The inheritance is a blessing, but don’t mistake money for character. Dr. Delony: Take your time. Let yourself feel everything. Then, with your team in place, figure out what this inheritance actually means for your life

Lin

193,600 Aufrufe • vor 1 Monat

A coffee shop owner making $750K a year asks Dave Ramsey which debt he should pay off first: Caller: "My wife and I own some coffee shops. We have about 100 employees, did $4.2 million last year, and we're unsure whether to attack our personal debt or our business debt first." Dave Ramsey: "Well... they're all personal. The SBA loans were signed personally." Caller: "We've got about $270,000 in vehicle loans..." Dave Ramsey: "How many vehicles?" Caller: "Four. The bulk of that is our personal vehicles. They're very expensive." Dave Ramsey: "You made $4.2 million. What was your net profit?" Caller: "About 15%. I also have a day job making about $250,000." Dave Ramsey: "So you've got a $750,000 household income?" Caller: "Yes." Dave Ramsey: "And the SBA loans?" Caller: "About $1 million." Dave Ramsey: "Other debt?" Caller: "$55,000 to the IRS, a $1.9 million mortgage, a $200,000 HELOC, and a $280,000 flip house." Dave Ramsey: "You're a busy guy. You're flipping houses, running 11 coffee shops, and have a full-time job."

A coffee shop owner making $750K a year asks Dave Ramsey which debt he should pay off first: Caller: "My wife and I own some coffee shops. We have about 100 employees, did $4.2 million last year, and we're unsure whether to attack our personal debt or our business debt first." Dave Ramsey: "Well... they're all personal. The SBA loans were signed personally." Caller: "We've got about $270,000 in vehicle loans..." Dave Ramsey: "How many vehicles?" Caller: "Four. The bulk of that is our personal vehicles. They're very expensive." Dave Ramsey: "You made $4.2 million. What was your net profit?" Caller: "About 15%. I also have a day job making about $250,000." Dave Ramsey: "So you've got a $750,000 household income?" Caller: "Yes." Dave Ramsey: "And the SBA loans?" Caller: "About $1 million." Dave Ramsey: "Other debt?" Caller: "$55,000 to the IRS, a $1.9 million mortgage, a $200,000 HELOC, and a $280,000 flip house." Dave Ramsey: "You're a busy guy. You're flipping houses, running 11 coffee shops, and have a full-time job."

Bee♧

339,873 Aufrufe • vor 1 Monat

Dave Ramsey tells caller American Citizens are not allowed to own Real Estate in Mexico Caller: “I want to buy a beach condo in Mexico for $350,000… with my inheritance.” Dave Ramsey: Do you have the cash? Caller: Yes. Dave Ramsey: If you lost the condo tomorrow, would your life still be okay? Caller: Yes. Dave Ramsey: Then I’d probably do it. Caller: Seriously? I thought you’d tear me apart. Dave: Just remember… buying property in Mexico isn’t like buying in the U.S. Caller: How so? Dave: You don’t technically own it. It’s held through a Mexican trust, and the rules are different. Dave: “Go in with your eyes open. If you’re comfortable with the risk, enjoy the beach.”

Dave Ramsey tells caller American Citizens are not allowed to own Real Estate in Mexico Caller: “I want to buy a beach condo in Mexico for $350,000… with my inheritance.” Dave Ramsey: Do you have the cash? Caller: Yes. Dave Ramsey: If you lost the condo tomorrow, would your life still be okay? Caller: Yes. Dave Ramsey: Then I’d probably do it. Caller: Seriously? I thought you’d tear me apart. Dave: Just remember… buying property in Mexico isn’t like buying in the U.S. Caller: How so? Dave: You don’t technically own it. It’s held through a Mexican trust, and the rules are different. Dave: “Go in with your eyes open. If you’re comfortable with the risk, enjoy the beach.”

hi (𝜏)

670,311 Aufrufe • vor 2 Monaten

Dave Ramsey was stunned after a caller refused to help her dad with $400… after he sold his $1.3M house to his kids for just $450K. The dad transferred the house to his daughter and son for $50K cash plus the remaining mortgage. Dave quickly realized the father basically gave away nearly a million dollars in equity… then later ended up broke and asking them for help. Dave Ramsey: “He gave you a million-dollar house for half a million.” The caller tried explaining that her dad was a single father and didn’t save enough for retirement, but Dave completely shut that down. Dave Ramsey: “That’s bullcrap.” He said if the father had simply sold the house normally, he would’ve had hundreds of thousands sitting in the bank instead of struggling for money later. Dave’s point was simple: You don’t give away your biggest asset before your own retirement and bills are secure.

Dave Ramsey was stunned after a caller refused to help her dad with $400… after he sold his $1.3M house to his kids for just $450K. The dad transferred the house to his daughter and son for $50K cash plus the remaining mortgage. Dave quickly realized the father basically gave away nearly a million dollars in equity… then later ended up broke and asking them for help. Dave Ramsey: “He gave you a million-dollar house for half a million.” The caller tried explaining that her dad was a single father and didn’t save enough for retirement, but Dave completely shut that down. Dave Ramsey: “That’s bullcrap.” He said if the father had simply sold the house normally, he would’ve had hundreds of thousands sitting in the bank instead of struggling for money later. Dave’s point was simple: You don’t give away your biggest asset before your own retirement and bills are secure.

Ruzy.hl

3,024,709 Aufrufe • vor 3 Monaten

This woman inherited $1.6 million after her boyfriend passed away. Four years later, her fiancé says she needs to stop giving money to his family. Caller: “When he passed away, I inherited all of his assets. Every year, I give each of his nieces and nephews $1,000 for educational experiences.” Caller: “My new fiancé doesn’t think it’s appropriate for me to continue.” Dave Ramsey: “How much did you inherit?” Caller: “About $1.6 million.” Dave Ramsey: “And how much do you give the children?” Caller: “$1,000 a year each.” Dave Ramsey: “Why is this inappropriate?” Caller: “He feels it’s not appropriate for me to prioritize my late partner’s family over his.” George Kamel: “I don’t think it’s about fairness. I think he doesn’t like the emotional attachment.” Dave Ramsey: “If this was a boyfriend you broke up with, I’d probably agree with him.” Dave Ramsey: “But he died. It’s kind of an immature approach.”

This woman inherited $1.6 million after her boyfriend passed away. Four years later, her fiancé says she needs to stop giving money to his family. Caller: “When he passed away, I inherited all of his assets. Every year, I give each of his nieces and nephews $1,000 for educational experiences.” Caller: “My new fiancé doesn’t think it’s appropriate for me to continue.” Dave Ramsey: “How much did you inherit?” Caller: “About $1.6 million.” Dave Ramsey: “And how much do you give the children?” Caller: “$1,000 a year each.” Dave Ramsey: “Why is this inappropriate?” Caller: “He feels it’s not appropriate for me to prioritize my late partner’s family over his.” George Kamel: “I don’t think it’s about fairness. I think he doesn’t like the emotional attachment.” Dave Ramsey: “If this was a boyfriend you broke up with, I’d probably agree with him.” Dave Ramsey: “But he died. It’s kind of an immature approach.”

‏ً

526,598 Aufrufe • vor 2 Monaten

Caller: I have a gambling addiction. I haven’t filed taxes in five years. About five years ago, I had $200,000 in gambling winnings. After that, I haven’t filed anything. Dave Ramsey: Do you still have a career? Caller: I'm retired. Dave Ramsey: Okay. Do you have any money? Anything? Caller: I've got almost $10,000 in my savings account. Dave Ramsey: But you don't have a nest egg other than your pension. Caller: No. Dave Ramsey: Do you own a home? Caller: Yes. About $13,000 is remaining on the mortgage. Dave Ramsey: What is it worth? Caller: About $300,000. Dave Ramsey: And how much is your pension income? Caller: $95,000 a year. Dave Ramsey: That's good. Are you married? Caller: No. Dave Ramsey: Have you done something about the gambling addiction itself? Have you quit gambling? Caller: I have not. Dave Ramsey: Okay. So whatever we do is going to be a temporary fix because that is going to cause further problems. Agreed? Caller: Yes, absolutely. Dave Ramsey: What kind of gambling are you doing? Caller: Slot machines. Dave Ramsey: Are you lonely? Caller: Yeah. I've been single for quite a while. Dave Ramsey: How old are you? Caller: 61. Dave Ramsey: From working with people addicted to anything, I know that 100% of addicts eventually have financial problems. The addiction consumes every department of your life, including your financials. I can help you with the money parts of it, but it is a temporary fix until you deal with this. It's not bringing you joy. If you were my buddy sitting down over a cup of coffee, here is what I would tell you to do: Step 1: Get in touch with the Gamblers Anonymous folks in your area. Step 2: Find a good local church and start developing a personal relationship with a pastor who can walk with you. Step 3: Find a one-on-one professional counselor to help dig into what is really going on so you can get to the other side of this.

Caller: I have a gambling addiction. I haven’t filed taxes in five years. About five years ago, I had $200,000 in gambling winnings. After that, I haven’t filed anything. Dave Ramsey: Do you still have a career? Caller: I'm retired. Dave Ramsey: Okay. Do you have any money? Anything? Caller: I've got almost $10,000 in my savings account. Dave Ramsey: But you don't have a nest egg other than your pension. Caller: No. Dave Ramsey: Do you own a home? Caller: Yes. About $13,000 is remaining on the mortgage. Dave Ramsey: What is it worth? Caller: About $300,000. Dave Ramsey: And how much is your pension income? Caller: $95,000 a year. Dave Ramsey: That's good. Are you married? Caller: No. Dave Ramsey: Have you done something about the gambling addiction itself? Have you quit gambling? Caller: I have not. Dave Ramsey: Okay. So whatever we do is going to be a temporary fix because that is going to cause further problems. Agreed? Caller: Yes, absolutely. Dave Ramsey: What kind of gambling are you doing? Caller: Slot machines. Dave Ramsey: Are you lonely? Caller: Yeah. I've been single for quite a while. Dave Ramsey: How old are you? Caller: 61. Dave Ramsey: From working with people addicted to anything, I know that 100% of addicts eventually have financial problems. The addiction consumes every department of your life, including your financials. I can help you with the money parts of it, but it is a temporary fix until you deal with this. It's not bringing you joy. If you were my buddy sitting down over a cup of coffee, here is what I would tell you to do: Step 1: Get in touch with the Gamblers Anonymous folks in your area. Step 2: Find a good local church and start developing a personal relationship with a pastor who can walk with you. Step 3: Find a one-on-one professional counselor to help dig into what is really going on so you can get to the other side of this.

Traeyz ♠️

1,051,570 Aufrufe • vor 1 Monat

Caller: “I recently inherited a large sum of money approximately $50 million. I’m just wondering, what do you think I should do with this?” Dave Ramsey: “You’re not kidding me.” Caller: “No, I’m not kidding you.” Dave Ramsey: “Who in the world left you $50 million?” Caller: “My parents.” Dave Ramsey: “The thing that I do and that I teach people to do with all of their income, including an unbelievable sum like this, is to balance and use ratios between living, enjoying some of it, giving some of it, and investing some of it.” “You should sit down and think in ratios. How much do I want to systematically give? Wealthy people who give are the ones that have fun with money.” “Spend some of it… I’m not going to suggest you stack it all in a cave somewhere but don’t let it be a large percentage. Then, invest a percentage for the next generation, and create income to do even yet more giving.”

Caller: “I recently inherited a large sum of money approximately $50 million. I’m just wondering, what do you think I should do with this?” Dave Ramsey: “You’re not kidding me.” Caller: “No, I’m not kidding you.” Dave Ramsey: “Who in the world left you $50 million?” Caller: “My parents.” Dave Ramsey: “The thing that I do and that I teach people to do with all of their income, including an unbelievable sum like this, is to balance and use ratios between living, enjoying some of it, giving some of it, and investing some of it.” “You should sit down and think in ratios. How much do I want to systematically give? Wealthy people who give are the ones that have fun with money.” “Spend some of it… I’m not going to suggest you stack it all in a cave somewhere but don’t let it be a large percentage. Then, invest a percentage for the next generation, and create income to do even yet more giving.”

HENRY

95,612 Aufrufe • vor 2 Monaten

My husband won $1 MILLION over a random scratch off ticket. Caller: My husband stopped at a gas station, bought a random scratch-off ticket, and won $1 million. Dave Ramsey: You're kidding. Caller: We're still in shock. He came home and couldn't even get the words out. Dave Ramsey: So what happens now? Caller: We took the lump sum. After everything, we expect to receive a little over $400,000. Dave Ramsey: The first thing I'd do is stop taking financial advice from Google. Caller: Really? Dave Ramsey: Absolutely. When you're dealing with life-changing money, internet research isn't a financial plan. Before you make a single move, sit down with a qualified tax professional. Learn exactly what you owe. Learn exactly what you have. Then make decisions from facts, not guesses. Caller: So don't rush? Dave Ramsey: Exactly. The lottery changed your bank account overnight. That doesn't mean you need to change your life overnight.

My husband won $1 MILLION over a random scratch off ticket. Caller: My husband stopped at a gas station, bought a random scratch-off ticket, and won $1 million. Dave Ramsey: You're kidding. Caller: We're still in shock. He came home and couldn't even get the words out. Dave Ramsey: So what happens now? Caller: We took the lump sum. After everything, we expect to receive a little over $400,000. Dave Ramsey: The first thing I'd do is stop taking financial advice from Google. Caller: Really? Dave Ramsey: Absolutely. When you're dealing with life-changing money, internet research isn't a financial plan. Before you make a single move, sit down with a qualified tax professional. Learn exactly what you owe. Learn exactly what you have. Then make decisions from facts, not guesses. Caller: So don't rush? Dave Ramsey: Exactly. The lottery changed your bank account overnight. That doesn't mean you need to change your life overnight.

RealGold⚜️

53,635 Aufrufe • vor 2 Monaten

Caller: I'm a 58-year-old single guy, getting tired of working. I'm trying to get to retirement, I make $75,000 and nothing saved. I need to know what I should do to get there. Dave Ramsey: What do you do? Caller: I'm a trim carpenter. I trim high-end houses and build some custom cabinets as well. Jade Warshaw: Do you have any debt? Caller: I've got about $25,000 worth of mortgage and a $20,000 auto loan. Dave Ramsey: Why have you saved no money? Caller: I was married to a spender, and at the age of 50, got divorced, and I walked away with zero dollars. Dave Ramsey: That was eight years ago. Why have you saved no money in the last eight years? Caller: Well, getting back on my feet, I ended up buying a house. That's where the mortgage comes in. I've got $25,000 left on that. Jade Warshaw: So is that where your extra money was going, paying down that mortgage? What did it start as? Caller: Paying down the mortgage. It was a bank-owned property. I got it for a song in a great neighborhood. I put a fair amount of money into it, and that's where most of my money went. Dave Ramsey: And you bought a truck? Caller: No. I have a truck that's paid for. Dave Ramsey: What's the $20,000 vehicle? Caller: I know you're into cars, Dave. It's not a car. It's a motorcycle. It's a Harley-Davidson. Jade Warshaw: Well, we've got to get rid of that. Caller: I knew that was the first thing you were going to tell me to get rid of. Dave Ramsey: Yeah, that bike has to go. You did great on the house, but the motorcycle was a mistake. If we get you on an EveryDollar budget and you pick up extra work, you can save $2,000 a month. Over 10 years, that $24,000 a year will grow to about half a million dollars. By age 67, you’ll have $500,000 and a completely paid-for house. Caller: Okay. I do have about $23,000 in cash. Dave Ramsey: Well, then you've got your emergency fund in place. Jade Warshaw: That's great! Caller: I do have the emergency fund, right. I also have a term life insurance policy that's $100 a month for half a million dollars. Should I keep that, or is there a way to convert that to something else? Dave Ramsey: I wouldn't convert. It's just like, "I have homeowner's insurance and I don't have a home anymore, do I need it?" No, you don't. Because there's no one counting on you, it sounds like, for your income. Caller: No. Dave Ramsey: And the house is worth more than you owe on it. Do you have children? Caller: I've got three. They're grown. Dave Ramsey: Okay, so if you die, they sell the house and pay the funeral, right? Caller: Correct. Jade Warshaw: Let it lapse. Dave Ramsey: Yeah, I would close that out because you need that extra $100 a month toward our $2,000 a month goal. So, what I'm going to do is sit down and do a budget, and I'm going to come up with $2,000 a month. I'm going to sit down with a SmartVestor Pro, and I'm going to fill up Roth IRAs, Simple IRAs, and whatever else you can do as a self-employed person. The great news is, as a trim carpenter in high-end properties, you are in great demand. You've always had more work than you can take on. And so if you want to jack it up and make some extra money for a little while, you can do that. I'm always less tired when I don't feel like a hamster in a wheel, when I'm actually getting traction. Part of what's making you tired is you feel stuck.

Caller: I'm a 58-year-old single guy, getting tired of working. I'm trying to get to retirement, I make $75,000 and nothing saved. I need to know what I should do to get there. Dave Ramsey: What do you do? Caller: I'm a trim carpenter. I trim high-end houses and build some custom cabinets as well. Jade Warshaw: Do you have any debt? Caller: I've got about $25,000 worth of mortgage and a $20,000 auto loan. Dave Ramsey: Why have you saved no money? Caller: I was married to a spender, and at the age of 50, got divorced, and I walked away with zero dollars. Dave Ramsey: That was eight years ago. Why have you saved no money in the last eight years? Caller: Well, getting back on my feet, I ended up buying a house. That's where the mortgage comes in. I've got $25,000 left on that. Jade Warshaw: So is that where your extra money was going, paying down that mortgage? What did it start as? Caller: Paying down the mortgage. It was a bank-owned property. I got it for a song in a great neighborhood. I put a fair amount of money into it, and that's where most of my money went. Dave Ramsey: And you bought a truck? Caller: No. I have a truck that's paid for. Dave Ramsey: What's the $20,000 vehicle? Caller: I know you're into cars, Dave. It's not a car. It's a motorcycle. It's a Harley-Davidson. Jade Warshaw: Well, we've got to get rid of that. Caller: I knew that was the first thing you were going to tell me to get rid of. Dave Ramsey: Yeah, that bike has to go. You did great on the house, but the motorcycle was a mistake. If we get you on an EveryDollar budget and you pick up extra work, you can save $2,000 a month. Over 10 years, that $24,000 a year will grow to about half a million dollars. By age 67, you’ll have $500,000 and a completely paid-for house. Caller: Okay. I do have about $23,000 in cash. Dave Ramsey: Well, then you've got your emergency fund in place. Jade Warshaw: That's great! Caller: I do have the emergency fund, right. I also have a term life insurance policy that's $100 a month for half a million dollars. Should I keep that, or is there a way to convert that to something else? Dave Ramsey: I wouldn't convert. It's just like, "I have homeowner's insurance and I don't have a home anymore, do I need it?" No, you don't. Because there's no one counting on you, it sounds like, for your income. Caller: No. Dave Ramsey: And the house is worth more than you owe on it. Do you have children? Caller: I've got three. They're grown. Dave Ramsey: Okay, so if you die, they sell the house and pay the funeral, right? Caller: Correct. Jade Warshaw: Let it lapse. Dave Ramsey: Yeah, I would close that out because you need that extra $100 a month toward our $2,000 a month goal. So, what I'm going to do is sit down and do a budget, and I'm going to come up with $2,000 a month. I'm going to sit down with a SmartVestor Pro, and I'm going to fill up Roth IRAs, Simple IRAs, and whatever else you can do as a self-employed person. The great news is, as a trim carpenter in high-end properties, you are in great demand. You've always had more work than you can take on. And so if you want to jack it up and make some extra money for a little while, you can do that. I'm always less tired when I don't feel like a hamster in a wheel, when I'm actually getting traction. Part of what's making you tired is you feel stuck.

Traeyz ♠️

424,915 Aufrufe • vor 1 Monat

Shortest call ever in Ramsey history. Caller: “I have a mortgage of $95,000 just about ready to pay it off.” “But I’m a real estate agent, and you know, with a real estate agent you gotta kind of go get it. but it’s a big chunk, but I’m looking for, I guess, maybe a final confirmation. With retirement that I have, And I’ve hit bumps along the way to get my house paid off.” Dave Ramsey: “How much cash do you have?” Caller: “$211,000.” Dave Ramsey: “Good Lord. Pay it off today.” John Delony: “Pay it off. What are you doing?” Dave Ramsey: “Pay it off today. You don’t need to think about this. You knew what I was gonna say.”

Shortest call ever in Ramsey history. Caller: “I have a mortgage of $95,000 just about ready to pay it off.” “But I’m a real estate agent, and you know, with a real estate agent you gotta kind of go get it. but it’s a big chunk, but I’m looking for, I guess, maybe a final confirmation. With retirement that I have, And I’ve hit bumps along the way to get my house paid off.” Dave Ramsey: “How much cash do you have?” Caller: “$211,000.” Dave Ramsey: “Good Lord. Pay it off today.” John Delony: “Pay it off. What are you doing?” Dave Ramsey: “Pay it off today. You don’t need to think about this. You knew what I was gonna say.”

𝓢𝓵𝓪𝓶 👁️⃤

692,962 Aufrufe • vor 1 Monat

Caller: “I’m 70 years old and married. We have no retirement savings, only $25,000 in cash, owe $27,000 on our $250,000 home, and $11,000 on our car.” Dave Ramsey: “how can we help?” Caller: “My husband wants to make financial decisions I don’t agree with, and I’m stressed. I at least want to keep our home.” Dave Ramsey: “what’s your income” Caller: “we have $2000 a month of social security, with a cleaner job that I have that’s physically challenging about another $2000” Dave Ramsey: “is your husband able to work?” Caller: “No, he’s got medical issues which was one of the things that put us this way cause our medical bills were too high” Dave Ramsey: “how many cars?” Caller: “paid off old pickup,the one with the debt and an old roadster valued at $10,000” Dave Ramsey: “I’m sorry the roadster is gone, that gives us $10,000 to put towards the house, $15,000 in emergency and that leaves you $17,000 to go and you guys get into business in the next 17months to get that house paid off” “You can make it but it’s not gonna be pretty, you gotta get your house and car paid off, you have $25,000 and a roadster to pull this off and a $2000 that’s questionable because we don’t know how long you can do this at 71” “Otherwise you’re gonna sell off the house buy a condo for $100,000 and extra to live on and have a life”

Caller: “I’m 70 years old and married. We have no retirement savings, only $25,000 in cash, owe $27,000 on our $250,000 home, and $11,000 on our car.” Dave Ramsey: “how can we help?” Caller: “My husband wants to make financial decisions I don’t agree with, and I’m stressed. I at least want to keep our home.” Dave Ramsey: “what’s your income” Caller: “we have $2000 a month of social security, with a cleaner job that I have that’s physically challenging about another $2000” Dave Ramsey: “is your husband able to work?” Caller: “No, he’s got medical issues which was one of the things that put us this way cause our medical bills were too high” Dave Ramsey: “how many cars?” Caller: “paid off old pickup,the one with the debt and an old roadster valued at $10,000” Dave Ramsey: “I’m sorry the roadster is gone, that gives us $10,000 to put towards the house, $15,000 in emergency and that leaves you $17,000 to go and you guys get into business in the next 17months to get that house paid off” “You can make it but it’s not gonna be pretty, you gotta get your house and car paid off, you have $25,000 and a roadster to pull this off and a $2000 that’s questionable because we don’t know how long you can do this at 71” “Otherwise you’re gonna sell off the house buy a condo for $100,000 and extra to live on and have a life”

𝓢𝓵𝓪𝓶 👁️⃤

470,637 Aufrufe • vor 1 Monat

Caller: “I have $3.5 million in retirement savings, but I’m still scared to retire. I’m wondering if I’m actually ready to pull the trigger or if I should keep working.” Dave Ramsey: “You have a ‘math’ problem and a ‘heart’ problem.” Dave Ramsey: “When you have $3.5 million, you are sitting on a gold mine that can comfortably fund your lifestyle without you ever touching the principal if you invest it wisely.” “The fear you’re feeling is normal.. it’s the transition from ‘accumulation mode’ to ‘distribution mode,’ and that’s a massive mental shift.” “Don’t let the fear of running out of money keep you chained to a desk you don’t need to be at. Run the numbers, look at your withdrawal rate, and realize that you have officially won the game.”

Caller: “I have $3.5 million in retirement savings, but I’m still scared to retire. I’m wondering if I’m actually ready to pull the trigger or if I should keep working.” Dave Ramsey: “You have a ‘math’ problem and a ‘heart’ problem.” Dave Ramsey: “When you have $3.5 million, you are sitting on a gold mine that can comfortably fund your lifestyle without you ever touching the principal if you invest it wisely.” “The fear you’re feeling is normal.. it’s the transition from ‘accumulation mode’ to ‘distribution mode,’ and that’s a massive mental shift.” “Don’t let the fear of running out of money keep you chained to a desk you don’t need to be at. Run the numbers, look at your withdrawal rate, and realize that you have officially won the game.”

HENRY

1,017,708 Aufrufe • vor 2 Monaten

Caller: ‘I’m debt-free and I have about $3 million. I’m curious if that’s enough to comfortably retire.’ Dave Ramsey: ‘It should be. That’s a lot of money. Well done.’ Dave Ramsey: ‘We have to define “comfortably” and what you’re going to do with this money. Because obviously you’re not stupid, or you wouldn’t have ended up with $3 million. But if you suddenly grew stupid, you could get rid of the $3 million real quickly and not retire, right?’ Dave Ramsey: ‘If you had it reasonably invested and lived on that income, obviously you could retire. I would have put that in good growth stock mutual funds making 11% or 12%, and lived off of about 10% or less.’ Jade Warshaw: ‘You’re in a great position. It feels like I hear a lot of unknowns in your voice like whatever you decide to spend on these weddings or college. Just put a number to it, put it on paper, talk to your kids about it, whatever that plan looks like. All the other unknowns, like if the market crashes and all that… that’s just fear.’ Dave Ramsey: ‘Unless you’re dropping a million dollars on that stuff, it doesn’t even matter. You should be able to make this money create 8% or 10%.’”

Caller: ‘I’m debt-free and I have about $3 million. I’m curious if that’s enough to comfortably retire.’ Dave Ramsey: ‘It should be. That’s a lot of money. Well done.’ Dave Ramsey: ‘We have to define “comfortably” and what you’re going to do with this money. Because obviously you’re not stupid, or you wouldn’t have ended up with $3 million. But if you suddenly grew stupid, you could get rid of the $3 million real quickly and not retire, right?’ Dave Ramsey: ‘If you had it reasonably invested and lived on that income, obviously you could retire. I would have put that in good growth stock mutual funds making 11% or 12%, and lived off of about 10% or less.’ Jade Warshaw: ‘You’re in a great position. It feels like I hear a lot of unknowns in your voice like whatever you decide to spend on these weddings or college. Just put a number to it, put it on paper, talk to your kids about it, whatever that plan looks like. All the other unknowns, like if the market crashes and all that… that’s just fear.’ Dave Ramsey: ‘Unless you’re dropping a million dollars on that stuff, it doesn’t even matter. You should be able to make this money create 8% or 10%.’”

HENRY

293,344 Aufrufe • vor 2 Monaten

CALLER: Dave, I’m 45, engaged and worth almost $20 MILLION But my fiancée has no idea. DAVE RAMSEY: You’re engaged and she doesn’t know? CALLER: No. I’ve been hiding it. My last relationship went bad because of money, so I’m scared she’ll only want me for my wealth. DAVE RAMSEY: Then you made a mistake by waiting this long. You’re asking someone to marry you while keeping a $20 million secret. CALLER: So what do I do now? DAVE RAMSEY: Sit down face-to-face and tell her everything. Start with an apology. Tell her why you were afraid. Then show her the full picture. Marriage requires complete honesty. CALLER: Should I get a prenup? DAVE RAMSEY: In most cases, I’m not a fan of prenups. But when there’s a $20 million difference on the table, it’s different. A prenup isn’t about expecting divorce. It’s about making financial decisions while both people are thinking clearly instead of letting a judge make them later. The bigger risk isn’t the prenup. The bigger risk is trying to build a marriage on a secret.

CALLER: Dave, I’m 45, engaged and worth almost $20 MILLION But my fiancée has no idea. DAVE RAMSEY: You’re engaged and she doesn’t know? CALLER: No. I’ve been hiding it. My last relationship went bad because of money, so I’m scared she’ll only want me for my wealth. DAVE RAMSEY: Then you made a mistake by waiting this long. You’re asking someone to marry you while keeping a $20 million secret. CALLER: So what do I do now? DAVE RAMSEY: Sit down face-to-face and tell her everything. Start with an apology. Tell her why you were afraid. Then show her the full picture. Marriage requires complete honesty. CALLER: Should I get a prenup? DAVE RAMSEY: In most cases, I’m not a fan of prenups. But when there’s a $20 million difference on the table, it’s different. A prenup isn’t about expecting divorce. It’s about making financial decisions while both people are thinking clearly instead of letting a judge make them later. The bigger risk isn’t the prenup. The bigger risk is trying to build a marriage on a secret.

Tokyo

641,834 Aufrufe • vor 3 Monaten

Caller: I’m getting married. She has $3 million. I have $45 million. Should we get a prenup? Dave Ramsey: Yes. Caller: She wants us to build wealth together. She suggested moving 5% of my assets into joint ownership every year. Dave Ramsey: There’s no reason to do that. Caller: Then what’s fair? Dave Ramsey: You both leave with what you brought into the marriage. Then agree on how future growth gets shared. Caller: So we build together without giving away the original assets? Dave Ramsey: Exactly. A prenup should protect both of you, not turn your marriage into a roommate agreement

Caller: I’m getting married. She has $3 million. I have $45 million. Should we get a prenup? Dave Ramsey: Yes. Caller: She wants us to build wealth together. She suggested moving 5% of my assets into joint ownership every year. Dave Ramsey: There’s no reason to do that. Caller: Then what’s fair? Dave Ramsey: You both leave with what you brought into the marriage. Then agree on how future growth gets shared. Caller: So we build together without giving away the original assets? Dave Ramsey: Exactly. A prenup should protect both of you, not turn your marriage into a roommate agreement

hi (𝜏)

2,357,872 Aufrufe • vor 2 Monaten