Here’s Why Dave Ramsey Doesn’t Own Any Single Stocks

Ramsey Everyday Millionaires

Ramsey Network

Business, Careers, Investing

4.8 • 3.6K Ratings

🗓️ 9 August 2024

⏱️ 8 minutes

🔗️ Recording | iTunes | RSS

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Summary

💰Need Help with your investments? Click here to connect with a SmartVestor Pro. 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, and are disciplined and responsible! Next Steps: 💵 Start your free budget today. Download the EveryDollar app! 🏠To learn more about how to plan for Retirement, click here 🏦To learn more about Investing, click here 🎓Create a college savings plan for your child’s future. Click here to connect with a SmartVestor Pro. Listen to more from Ramsey Network 🎙️ The Ramsey Show 🧠 The Dr. John Delony Show 🍸 Smart Money Happy Hour 💡 The Rachel Cruze Show 💰 George Kamel 💼 The Ken Coleman Show 📈 EntreLeadership 💸 The Ramsey Show Highlights Ramsey Solutions is a paid, non-client promoter of SmartVestor Pros. Learn more about your ad choices. https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy

Transcript

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0:00.0	This episode is sponsored by SmartVester. Connect with an investing pro for free at Ramsey Solutions.
0:11.0	Com slash invest.
0:22.0	You're listening to Ramsey everyday millionaires where we talk investing, retirement, building wealth and outrageous generosity. Matt is in Miami.
0:24.0	Hi Matt, how are you?
0:25.0	Hey Davey, I'm doing better than I deserve.
0:28.0	How are you?
0:29.0	Better than I deserve, sir.
0:30.0	What's up?
0:31.0	Oh, awesome, I'm glad to hear that.
0:33.1	So I'm in a little bit of a situation here.
0:36.0	I am following your baby steps and I currently have about 10,000 in debt in my car and I'm planning to pay that off soon. But I'm thinking about the next baby step, which is just trying to pay the house off as fast as I can.
0:54.0	Right? So with that said, what is my situation right now?
0:58.0	I have about $50,000 in the stock market and that $ thousand dollars I'm using the stock that I have to
1:06.8	put cover calls on my stocks therefore it generates me about $2,000 per month being very conservative, right?
1:17.4	And I'm a little divided because I can put that money back into the stock and make even more, put more contracts
1:25.1	onto that stock and make more money or I can direct all that premium that I
1:31.2	receive for the stocks towards the payment of the car in the house.
1:35.8	So I would like to get a perspective from you, what would be the best way to go about that?
1:41.2	I don't think you have any concept of how much risk you're
1:43.6	taking. Okay. You've hit with your covers. You haven't had a problem yet and as soon as
1:50.6	you miss one of those covers you're going to to realize that 2,000 is not your worst case scenario,
1:55.0	conservatively, a negative 10,000 is your worst case scenario.
	...

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