How Can I Get Some Fun Money?

Ramsey Everyday Millionaires

Ramsey Network

Business, Careers, Investing

4.8 • 3.6K Ratings

🗓️ 30 August 2024

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

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Summary

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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.
0:17.0	You're listening to Ramsey Everyday Millionaires where we talk investing, retirement, building wealth,
0:20.0	and outrageous generosity.
0:22.0	Dave is in Orlando.
0:24.0	Hi Dave, how are you?
0:25.0	Dave, I'm wonderful, how are you?
0:27.0	Better than I deserve, how can I help?
0:29.0	Well, so first thing I want to say is thank you so much because my wife and I followed your steps
0:33.7	and we were debt free and have been debt free for quite a while. The reason I'm
0:38.8	the reason I'm calling is I live in the villages. I'm widowed unfortunately two years ago my wife passed away.
0:45.0	I have I have no children so when I go all everything's basically going to get liquidated and giving away as donations and things like that
0:57.6	My house is paid off. It's worth about 410 420 and I want to get your opinion on, in my situation, if you think I could get a reverse
1:07.4	mortgage to go out and have some fun with that money.
1:12.0	You have any other money? Yeah, I'm good, yes. What's good? How much money do you have?
1:18.0	Well, I've probably got about 1.2. In your mutual funds in your retirement accounts.
1:24.7	Mutual funds retirement accounts. And how old are you? I'm 65. Okay. And so why would we not
1:31.8	use 1.2 million for fun?
1:35.0	Well, I'm just saying I hate to see a lump sum of, you know,
1:38.0	$410,000 just get liquidated and donated out there.
1:43.4	If there is an opportunity to go maybe grab a little bit of that cash and, you know, go on a long trip
1:49.8	or something like that.
	...

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