How Should I Handle a $100,000 Inheritance?

The Ramsey Show Highlights

Ramsey Network

Self-improvement, Education, Investing, Business

4.6 • 682 Ratings

🗓️ 11 September 2020

⏱️ 8 minutes

🔗️ Recording | iTunes | RSS

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Summary

The Ramsey Call of the Day is a quick, daily dose of advice on life and money in under ten minutes. Hear from experts like Dave Ramsey, Ken Coleman, Rachel Cruze, Chris Hogan, Christy Wright, Anthony ONeal, and Dr. John Delony. Part of the Ramsey Network. Delivered to you five days a week. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	It's Friday, and this is the Ramsey Call of the Day, part of the Ramsey Network.
0:06.9	Anthony O'Neill, Ramsey Personality number one bestselling author, is my co-host today here on the air.
0:13.1	John is going to start us off this hour in Washington, D.C.
0:17.1	Hey, John, how are you?
0:19.1	Good, how are you?
0:20.1	Better than I deserve.
0:21.1	How can we help?
0:22.9	So I am 19 years old, and I've never really been good with money.
0:27.3	However, I just inherited around $100,000, and I was wondering what I should do to not blow this opportunity.
0:35.2	Ah, man, that's a good question, John.
0:36.9	Do you have any debt right now?
0:40.0	I'm in school right now, and I will end with around like $20,000.
0:43.1	Okay, cool.
0:43.5	How much time do you have left in school?
0:46.8	I'm a junior right now.
0:47.9	Currently, I have around $11,000 at this very moment.
0:51.1	Cool.
0:52.0	So when it comes to this inheritance, John,
0:53.5	here's what I want you to do right now.
0:54.8	I want you to take some of this inheritance money and finish school 100% debt free. So stop borrowing
0:59.3	money. Go ahead and pay cash for the rest. Go ahead and put at least three months in the savings account.
1:05.5	Then also what I want you to do is because you said you haven't made wise decisions with money.
	...

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