Don’t Invest Your Money Based on the News Headlines! (Hour 2)

The Ramsey Show

Ramsey Network

Education, Investing, Business, Self-improvement

4.5 • 38.5K Ratings

🗓️ 14 March 2023

⏱️ 38 minutes

🔗️ Recording | iTunes | RSS

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Summary

Dave Ramsey & Jade Warshaw answer your questions and discuss: "Should I pull from retirement to pay off credit cards?" Investing to retire early, from the blog: Can I Retire Early? Where a HUD loan goes in the baby steps, Using a brokerage account for a down payment on a house, Taking out social security early to pay off a mortgage. Support Our Sponsor: Neighborly Have a question for the show? Call 888-825-5225 Weekdays from 2-5pm ET Want a plan for your money? Take our FREE 3 minute assessment: https://bit.ly/3nInETX Listen to all The Ramsey Network podcasts: https://bit.ly/3GxiXm6 Learn more about your ad choices. https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy

Transcript

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0:00.0	One's
0:01.0	Live from the headquarters of Ramsey Solutions.
0:30.8	This is the place where we help people.
0:40.8	Get out of debt, build wealth, do work that they love, and create actual, amazing relationships.
0:48.8	Thanks for hanging out with us.
0:50.8	J. Warshall Ramsey Personality is my co-host today.
0:53.8	Starting off this hour's Patrick and Fresno, California.
0:56.8	Hi Patrick, welcome to the Ramsey Show.
0:58.8	Hey Dave, thanks for taking my call.
1:01.8	Here's my question.
1:03.8	I've got over a quarter of a billion in my retirement account and over the years I've seen and go up and down.
1:10.8	After hearing the news about what went down this weekend with the two banks in Silicon Valley, I'm wondering if I should take money out of my retirement and pay off my credit card debt.
1:24.8	That's my major debt is my credit card followed by my home.
1:29.8	My car is paid for, so it's basically those two debt that I'm working with.
1:35.8	What do you have your money invested in?
1:38.8	When I left the county, I had it in their retirement plan, 401 and 457.
1:45.8	In mutual funds?
1:47.8	Correct.
1:48.8	What's that got to do with the bank?
1:51.8	Well, last time that all happened in 2008, I just shut the door on that book that it looks so bad.
1:58.8	Is it going to fall and I'm going to see this money diminish?
2:01.8	Would it be better off to use the assets I have now, pay off my debt?
	...

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