My Advisor Doesn't Want Me To Buy A House

Ramsey Everyday Millionaires

Ramsey Network

Business, Careers, Investing

4.8 • 3.6K Ratings

🗓️ 30 April 2025

⏱️ 4 minutes

🔗️ Recording | iTunes | RSS

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Summary

💵 Sign up for EveryDollar today - Create a free Budget! 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, and are disciplined and responsible! Next Steps: 💰Need help with your investments? Connect with a SmartVestor Pro: (SmartVestor Investing Professionals ) #PaidEndorsement 📝Get your free copy of Ramsey’s Complete Guide to Investing: (Ramsey's Complete Guide to Investing) 🏦Take a retirement assessment to find out how much you’ll need to retire: (Retire Inspired with the R:IQ Retirement Assessment) 📈See how much your investments could be worth over time with this handy calculator: (Investment Calculator) 🧑‍💻Explore free investing tools, articles and more on the Ramsey Investing Hub: (Ramsey Investing Tools and Resources) Listen to more from Ramsey Network 🎙️ The Ramsey Show 🧠 The Dr. John Delony Show 🍸 Smart Money Happy Hour 💡 The Rachel Cruze Show 💰 George Kamel 🪑 Front Row Seat with Ken Coleman 📈 EntreLeadership 💸 The Ramsey Show Highlights Learn more about your ad choices. Ramsey Solutions Privacy Policy

Transcript

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0:00.0	This episode is brought to you by SmartVester.
0:07.7	Connect with an investing pro near you at ramsysolutions.com slash smartvester.
0:12.3	We've got Chuck in Pittsburgh, Pennsylvania.
0:16.2	Chuck, what's up?
0:17.7	Hi, Jade Marachel.
0:18.8	Thanks for taking my call.
0:20.6	I have a question about purchasing a house.
0:22.6	I'm 68 years old.
0:24.6	I plan on, in married, I plan on retiring before a year end.
0:28.6	We followed all your Ramsey principles and my wife and I have accumulated a nest egg a little over 4 million.
0:35.6	Nice.
0:36.6	Wow.
0:37.8	Yeah, we met with a financial advisor just to see what they might be able to do to help
0:45.0	us plan retirement.
0:46.8	And we had our money up on the whiteboard and I had mentioned that my wife and I were planning
0:52.3	on pulling a million dollars out of retirement
0:55.4	to pay cash for a house.
0:58.1	And they told me that I would be making a mistake doing that, and I ask why, and they said
1:04.4	that because you would be on Medicare, and your Medicare payments would go from 200 a month
1:09.3	to 700 a month.
1:10.7	I've always lived my life debt-free, and they were trying to convince me to take a mortgage
1:16.6	out to pay for the house.
	...

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