How Should I Pay Off My House?

Ramsey Everyday Millionaires

Ramsey Network

Business, Careers, Investing

4.8 • 3.6K Ratings

🗓️ 1 January 2025

⏱️ 5 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.
0:07.2	Connect with an investing pro for free at ramsysolutions.com slash invest.
0:14.6	You're listening to Ramsey Everyday Millionaires, where we talk investing, retirement, building wealth, and outrageous generosity.
0:22.7	Trent joins us now in Wilmington, North Carolina. Trent, how can we help today?
0:28.0	How are you doing? Good. How are you, sir? Doing well. Doing well.
0:32.2	What's going on? How can we help? So I got some money in the stock market and started my wife, and I was wondering if I should
0:40.6	take that money out to pay off some of this house debt. I have a couple rental properties and a
0:48.1	primary house. One of the rental houses is completely paid off, and the next one has 180,000 I owe on it.
0:57.1	And then, of course, I just bought my primary residence a few weeks ago.
1:02.3	Okay.
1:02.8	So you've got a paid off rental, a rental where you owe 180, and what is that one worth it if you were just to sell?
1:09.3	I'm just curious.
1:11.0	It's probably worth about 4.30.
1:12.9	Nice. And then your primary house, what's the mortgage on that?
1:17.5	It's about $3,000 a month.
1:20.6	No, what do you owe? Like the big picture.
1:22.5	Sorry, sorry. That's okay.
1:24.8	I owe about $ 500 on it.
1:28.4	Okay.
1:29.1	Okay, and tell us about these stocks.
1:31.5	Is it single stocks?
1:33.9	They're in.
	...

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