Inherited $400,000, What Should I Do With It?

Inherited $400,000, What Should I Do With It?

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• The Ramsey Show (Highlights):

[kristenlevine]

Why is she even calling ? She should be writing the checks to pay off their debts.

[virginiakingsford]

People with lots of debt and large amounts of cash
Dave - pay off debt
Person 🤨

[dialac]

Been debt free since 2012. Being debt free is the best feeling you’ll ever experience. Now every payday, my dilemma is what mutual fund or stock do I want to buy. I live on one weeks paycheck for the entire month and invest everything else

[ritaparker]

Investing money from an inheritance can be a thoughtful way to grow and preserve the wealth that has been passed down to you. However, it's essential to approach this process with care and consideration. Diversification helps spread risk. Invest in a mix of asset classes, such as stocks, bonds, real estate, and other investments, to minimize exposure to any single investment's performance.

[jeffpesos]

It would be stupid to not spend it on a tuba degree

[buckybarnes]

He's right with no record of positive money habits, they cannot expect to suddenly have them. I went through a whole year of saving thinking I was disciplined. It wasn't until my second year of saving that I realized how poorly I did it the first year. I'm on my third year of saving and still learning

[redrubberball]

A key point seemingly missing with so many of Dave's callers, is how few of them seem to appreciate that no level of income/wealth makes a person immune from needing a budget.

[GenExDividendInvestor]

Pay off debt. Invest. Donate to charity. Be grateful. Don’t make the same mistakes that got you into debt.

[equisader]

I found myself in a similar situation. My husband received a small inheritance and a larger one is now on the way. I knew that if i didn't take serious steps it would vanish and have nothing to show for it. I got on Dave's plan. Mortgage paid off. Sadly both my parents died way sooner than we ever thought possible and an even more significant amount is in the offing once properties are sold. Dave is right it's about honouring them. I want to carry on what they started and with Dave's advice on these videos i know we can do that. We will be investing and getting to the fun part. I don't say this to brag. I say it to advise you to get into practice before an inheritance lands in your lap. I knew the contents and extent of my inheritance, just not when and i was determined not to blow it. Be prepared. Make the most of it. Honour the people who left it to you. I know my parents would be pleased if they could see what we are doing.

[fpridgeway]

1. Don't tell ANYONE.
2. Pay down debt.
3. Don't tell ANYONE, especially a female.
4. Save.
5. Repeat 1-4

[harrisonwintergreen]

Get an Ivy League degree in left handed tuba performance. Obviously.

[whitebaker]

i didn't inherit half of this but what i inherited i made double of this!

[fusionreaper]

Long time listener love your videos. Please turn the volume up of your videos because recently it has been way too low. Normally my tv is on 20 on your videos now it's on 60 and the ads are super loud after your videos are over.

[maryjohnson]

I'm beginning a budgeting business ...soooo many don't use one and are poor but live like thg hey are rich.
Credit is slavery not wealth.

[dexterm]

Pay off debt and invest the difference should pretty much always be what you do.

[Dr.C_Stag]

Who else thinks she is going to go back in debt and ignore Dave’s advice? ✋🏻

[lilomarie]

Best advice ever! I had assets to wipe all of my debts, but the EASY way out didnt feel right. Six months is not long enough to be disciplined. I took 3 different FPU courses and budgeted for 18 months before I sold it all, paid my debt and funded my emergency and prosperity funds( I have learned emergency funds should be allocated for emergency items henceforth Prosperity funds or to enrich The Human Experiance. The exercise to be disciplined on a budget, and to not borrow money is an ongoing activity, it is much harder than the simple task of paying off all the debt just once.

[johnwigren]

"Better than I deserve" My friends think I'm a snob when I say it.. I guess only Dave Ramsey can say it.

[chrisflyER]

It would be nice to come from a successful family.

[mackdaddy]

He should have just said “follow the baby steps”