DAVE RANT: This Is a Million Dollar Mistake
Ramsey Everyday Millionaires
Ramsey Network
4.6 • 3.6K Ratings
🗓️ 14 December 2022
⏱️ 8 minutes
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| 0:00.0 | You're listening to Ramsey everyday millionaires, where we talk retirement, building wealth, |
| 0:10.5 | and outrageous generosity. |
| 0:14.1 | Matthew is with us in Los Angeles. |
| 0:15.7 | Hi, Matthew. |
| 0:16.7 | Welcome to the Ramsey show. |
| 0:17.7 | How are you doing? |
| 0:18.7 | Better than I deserve. |
| 0:20.8 | What's up in your world? |
| 0:21.8 | Well, have a couple of quick questions. |
| 0:25.5 | First of all, I have a newty Flash 401k plan, and there's about close to a million dollars |
| 0:34.0 | in there. |
| 0:35.3 | And I got this letter from the organization, and they have this program, and it's called |
| 0:42.8 | a single life annuity, and is, I'll read it to you. |
| 0:47.4 | It says, it pays you a fixed amount of money each month for the rest of your life. |
| 0:53.6 | And then it says, following your death, no payments will be made to your spouse of your |
| 0:57.6 | heirs. |
| 0:58.6 | So the estimated payment that they'll pay me under that condition is $4,300 a month. |
| 1:03.6 | So they also offer. |
| 1:05.8 | Well, that sucks. |
| 1:08.6 | Right. |
| 1:09.6 | $49,000 on a million dollars, 4.8% return on your million dollars, and then you lose all |
| 1:17.1 | your money at death. |
... |
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