My Dad Wants Me To Work With His Advisor

Ramsey Everyday Millionaires

Ramsey Network

Business, Careers, Investing

4.8 • 3.6K Ratings

🗓️ 31 March 2025

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

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Summary

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Transcript

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0:00.0	This episode is brought to you by SmartVestor. Connect with an investing pro near you at ramsysolutions.com
0:11.2	slash smartvester. Monica is with us in Houston, Texas. Hey, Monica, welcome to the Ramsey Show.
0:19.2	Hi, Dave. Hi, Dave. Thank you so much for your help.
0:21.5	You bet.
0:22.0	Sure.
0:22.4	What's up?
0:23.0	My dad is 75, and he's had a stroke, so he has difficulty in communication, and he's
0:27.9	asked me to visit his financial planner with him to decide what to do with an annuity that
0:32.3	isn't making any money.
0:34.0	So I was wondering, what kind of questions did I ask the financial advisor?
0:38.1	What should he do with the money?
0:39.8	Are there any penalties, things like that?
0:42.2	Okay.
0:44.2	Well, what the financial advisor's job is, as far as I'm concerned, and you may have to help them with what their job is, is to have the heart of a teacher.
0:58.8	Okay.
0:59.3	And so if I'm you and I'm sitting down there and I'm going to say, okay, tell me exactly what this annuity is.
1:06.7	It doesn't seem to be making any money.
1:09.0	What our options are and what you would do with it.
1:12.4	And here's the important question.
1:14.1	Why would you do that with it?
1:17.3	And let them kind of explain to you what the details are and teach you.
1:23.0	And then you look at it and say, okay, it's not making any money.
	...

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