DAVE RANT: This Is a Million Dollar Mistake

Ramsey Everyday Millionaires

Ramsey Network

Careers, Investing, Business

4.6 • 3.6K Ratings

🗓️ 14 December 2022

⏱️ 8 minutes

🔗️ Recording | iTunes | RSS

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Summary

Listen to how ordinary people built extraordinary wealth - and how you can too. You’ll learn how millionaires live on less than they make, avoid debt, invest, are disciplined and responsible! Featuring hosts from the Ramsey Network: Dave Ramsey, Ken Coleman, Rachel Cruze, John Delony, George Kamel, & Kristina Ellis. Learn more about your ad choices. https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy

Transcript

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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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