How Should I Use a Large Inheritance?

Ramsey Everyday Millionaires

Ramsey Network

Careers, Investing, Business

4.6 • 3.6K Ratings

🗓️ 5 February 2024

⏱️ 8 minutes

🔗️ Recording | iTunes | RSS

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Summary

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, are disciplined and responsible! Featuring hosts from the Ramsey Network: Dave Ramsey, Ken Coleman, Rachel Cruze, John Delony, George Kamel & Jade Warshaw. Helpful Resources: Need Help with your investments? Click here to connect with a SmartVestor Pro. 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. 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. Stephen is in Chicago.
0:24.0	Hi Stephen, welcome to the Ramsey Show.
0:27.0	Hey gentlemen, how are you doing today?
0:28.0	Better than I deserve.
0:30.0	What's up? Yeah, I, um, so when I was young, um, was with my parents when I was younger and I received a trust
0:37.3	As a result of that and I kind of just wanted to pick your guys his brains and how I can continue to grow those assets.
0:44.0	Right now I'm 26 and I kind of have no idea which direction to kind of move with those.
0:48.0	Okay, how much did you get?
0:51.0	Eight hundred and four thousand. And you're in charge of the entire trust?
0:54.1	Yes, I work with a financial advisor on it. I know, but you're in charge of it.
0:58.8	Yes, correct. Now, you tell the financial advisor what to do, he doesn't tell you what to do.
1:03.4	Yes. Okay, that's the way it should be by the way.
1:06.0	The first thing you're looking for in financial people and you've got to be careful because
1:10.1	the way you use your words around me I'll catch on okay the thing you're
1:14.7	looking for is the heart of a teacher their job is to give you ideas and
1:20.2	tell you why those ideas might work that's called teaching.
1:24.0	Their job is not to do everything and you go,
1:28.0	oh I got a guy that takes care of everything.
1:30.0	That's how people lose all their money.
1:32.0	Okay.
	...

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