Quit Taking Money Advice From Your Broke Friends and Family!
The Ramsey Show Highlights
Ramsey Network
4.5 • 839 Ratings
🗓️ 26 August 2024
⏱️ 8 minutes
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| 0:00.0 | Brought to you by the Every Dollar app. Start budgeting for free today. |
| 0:06.0 | Hey, so kind of a weird situation, I need to get some advice from you guys. |
| 0:11.0 | So here's the gist of it. My wife and I are currently in the process of looking to buy our first home. |
| 0:18.0 | We are debt-free and have always been, been a big, big fan, big believer of just doing |
| 0:24.8 | things debt-free. |
| 0:25.6 | And we are actually in the position to pay the house entirely with cash without house poor. |
| 0:33.2 | Awesome. |
| 0:33.9 | Yeah. |
| 0:34.3 | So we are super nervous, excited. |
| 0:38.9 | It's as most people can know, it's a huge purchase. |
| 0:42.4 | But we're getting some pushback from friends and family, mainly because one of the main |
| 0:48.3 | arguments is that that can be put into investment more in the market instead of just buying a house the normal way |
| 0:59.0 | and doing a mortgage. So what they're saying is if you had a paid for house, what these people |
| 1:05.0 | are saying is if you had a paid for house, you should go borrow on it and put the money in mutual |
| 1:08.3 | funds. Yeah. |
| 1:11.3 | Okay. |
| 1:13.0 | Well, let me help you with this. |
| 1:17.7 | We did the largest study of millionaires ever done in North America. |
| 1:20.9 | Detailed, airtight research. |
| 1:27.4 | The conclusions we came to in that study have been so thoroughly vetted and the research methodology was so |
| 1:28.6 | tight that if you don't agree with the conclusions of that study, you're what's known as wrong. |
| 1:34.3 | Because this is data, it's facts. |
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