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Ramsey Everyday Millionaires

No! I Was Trying To Tell You That's A Dumb Idea!

Ramsey Everyday Millionaires

Ramsey Network

Careers, Investing, Business

4.6 • 3.6K Ratings

🗓️ 19 July 2023

⏱️ 8 minutes

🧾️ Download transcript

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, Rachel Cruze, John Delony, George Kamel & Jade Warshaw. Helpful Resources: Need Help with your investments? Click here to connect with a SmartVestor Pro. To learn more about how to plan for Retirement click here To learn more about Investing click here Create a college savings plan for your child’s future. Click here to connect with a SmartVestor Pro. Learn more about your ad choices. https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy

Transcript

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0:00.0

This episode is sponsored by Smart Vestor.

0:07.2

Connect with an investing pro for free at RamseySolutions.com slash invest.

0:15.2

You're listening to Ramsey Everyday Millionaires, where we talk investing, retirement, building

0:19.7

wealth, and outrageous generosity.

0:21.9

Right up next we have Borchay in Portland, Oregon.

0:26.6

Hey Borchay, welcome to the show.

0:28.8

Hey guys, how are you doing?

0:29.7

Thanks to take my call.

0:30.6

Absolutely.

0:31.5

How can we help?

0:33.1

Yeah, so I was calling in because I had a question for you guys, 32 years old, self-employed,

0:40.1

and I have an ambition to retire in 10 to 12 years.

0:44.4

For the last couple of years I've been investing pretty aggressively, $10,000 to $12,000 a month

0:49.5

of my portfolio is roughly around 300,000 just a little bit over.

0:54.0

I don't have any debt, I have about 90,000 in cash, and the only debt that I do have is

1:01.0

a house payment, so I do have a college fund set up for my child as well, I have another

1:07.7

kid that's still here in a couple of months, so we're going to bump that up a little bit.

1:11.7

My question was, should I start putting more money towards our house to pay it off sooner,

1:18.7

or should I continue to invest that 10 to $12,000 a month in hopes of obviously being

1:24.0

done in about 10 or 12 years?

1:27.1

What's the panic?

1:28.7

Is it part of the fire movement or the great Mr. Money Mustache?

...

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