I'm Getting $200,000...What Should I Do With It?

Ramsey Everyday Millionaires

Ramsey Network

Business, Careers, Investing

4.8 • 3.6K Ratings

🗓️ 11 October 2021

⏱️ 6 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, Christy Wright, Rachel Cruze, John Delony, and George Kamel.

Transcript

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0:00.0	You're listening to Ramsey everyday millionaires, where we talk retirement, building wealth,
0:10.5	and outrageous generosity.
0:14.0	Jonathan is with us in Fort Worth, Texas, if I pick up the right phone line anyway.
0:19.2	There he is, Jonathan's in Fort Worth.
0:20.6	Hey Jonathan, how are you?
0:22.1	Hey, David, I'm doing great.
0:24.0	Thanks for taking my call today.
0:25.8	Sure.
0:26.8	What's up?
0:27.8	First question I have, my wife and I, we've been Dave Ramsey for a year and a half, and
0:33.0	debt free for a year.
0:34.2	A little background story, we're a retired military, and we're tired in Texas, but to
0:40.0	that process we had a house in another state.
0:42.7	I kept it as a rental for about the past ten years, and now we finally got it on the market,
0:48.9	and we're going to close on it next month.
0:51.6	So the question is, the growths amount that we earn from the sale of the house, do we pay
0:59.2	that on our mortgage here in Texas?
1:02.7	We also have about 120K in a traditional IRA, or do we pay to roll that to a Roth, and then
1:10.6	use the remaining balance to pay off our Texas mortgage?
1:15.2	Wow.
1:16.2	Well, nothing in the list is dumb, both things could be under the heading of smart.
1:23.0	According to what we teach on the baby steps, I would pay down the house in Texas because
	...

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