Invest or Pay Off the House?
Ramsey Everyday Millionaires
Ramsey Network
4.6 • 3.6K Ratings
🗓️ 5 December 2022
⏱️ 6 minutes
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| 0:00.0 | you're listening to Ramsey everyday millionaires where we talk retirement building wealth and outrageous generosity |
| 0:12.1 | in Canada is Shailey hi can't actually how are you |
| 0:16.6 | hi thanks for having us on and I have my husband John here with me |
| 0:24.0 | um so we are wondering um we currently have stock investments and we're wondering if you should pull |
| 0:31.9 | them out and put them towards our mortgage to more aggressively pay down our mortgage |
| 0:38.0 | are you debt-free except the house yes we are okay how much do you owe on the home |
| 0:44.9 | uh seven hundred and sixty thousand and how much do you have in stock |
| 0:48.1 | uh two hundred and fifteen so right now yeah you have you have retirement investments |
| 0:54.1 | aside from this uh we have a hundred and seventy thousand in off-p for s-p's okay and uh what's |
| 1:01.2 | your household income um so currently I'm on maternity leave as of January this year I was making |
| 1:08.7 | about two fifty to three hundred thousand dollars I was uh I am a pediatrician um I'm on maternity |
| 1:14.9 | leave I don't know when I'm going to go back or what it's going to look like in the future my |
| 1:18.3 | husband makes about two hundred grand a year so right now that's our income it's about two hundred |
| 1:22.8 | grand how old are you uh forty three turning forty four on Monday cool all right well um so here's |
| 1:31.6 | the thing if you don't use the stock to pay it off it's the same thing as saying I owe five |
| 1:40.0 | hundred thousand on my house and I went down and I got a new mortgage for seven hundred to put |
| 1:46.6 | two hundred into stock okay so if you had five hundred thousand owed on your house would you go get |
| 1:52.9 | a new mortgage for seven hundred to put two hundred into stock hmm would I do that I'm not I'm not |
| 2:00.6 | sure I don't think I would do that it's not a trick question okay it's just a matter of you know |
| 2:06.2 | the because usually when you reverse it like that it activates and people go oh I wouldn't do that |
| 2:11.7 | usually I mean it's not it's not a hundred percent but I mean uh that that's the thing so |
| 2:17.6 | here's the deal um when we studied ten thousand one hundred and sixty seven millionaires and ask |
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