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The Ramsey Show Highlights

I Paid Off My Home Now I’m Panicked

The Ramsey Show Highlights

Ramsey Network

Self-improvement, Education, Investing, Business

4.6682 Ratings

🗓️ 12 June 2024

⏱️ 9 minutes

🧾️ Download transcript

Summary

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Transcript

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0:00.0

Brought to you by the Every Dollar app. Start budgeting for free today. So my husband passed away of

0:08.9

COVID three years ago, almost, not quite. And he had a little bit, a little bit of life insurance policy.

0:18.2

And I panicked and I went ahead and paid my house off. It was like $225,000

0:23.6

left and I used it all. And I'm like concerned that I made a mistake by doing that because I went

0:32.1

to my friend's financial guide. He's like, you're so far behind at 55 for what you should be and he made me feel stupid

0:40.7

for doing that and then I started watching you and you are you're all about the house pay off

0:47.4

I was like good with that but then you do talk about how your income is your wealth building thing, you know.

0:57.2

And so anyway, I, I'm a realtor and I have just had a slow down screeching halt on

1:05.0

sales.

1:06.2

And I'm just afraid any, you know, what I've got left in savings, I'm going to have to start using that to supplement.

1:14.5

Well, what would...

1:15.4

That's where I'm at.

1:16.3

First off, I'm sorry for your loss.

1:18.0

That sounds terrible.

1:19.4

Second off, this financial guy is not the guy.

1:22.6

No one should be making you feel stupid, right?

1:26.0

Yes.

1:26.5

No one, you know, you're going to them for advice. You want to learn,

1:29.7

but they shouldn't be making you feel stupid. I would not look at this as a big mistake. I would go,

1:34.9

okay, you did, it's not like you went out and bought something you couldn't afford or it's not

1:39.3

like you went out and you go, you know, got crazy. You paid off your home, which is something that we would teach you to do.

1:45.4

Yeah, you may have gone a little bit out of order, but maybe not.

...

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