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Ramsey Everyday Millionaires

Should I Cash Out My Investments To Pay Off My House?

Ramsey Everyday Millionaires

Ramsey Network

Careers, Investing, Business

4.63.6K Ratings

🗓️ 27 July 2022

⏱️ 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, and George Kamel.

Transcript

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0:00.0

You're listening to Ramsey everyday millionaires, where we talk retirement, building wealth,

0:10.5

and outrageous generosity.

0:14.2

Thomas is with us.

0:15.2

Thomas is in Boston, mass.

0:16.8

What's up Thomas?

0:17.8

Hi, thank you so much for taking my call.

0:21.7

Well, I'm glad you're doing better than you deserve.

0:26.5

I love that phrase.

0:28.4

I'm 59 years old, and about a year ago, my father passed away and we sold his house

0:35.1

and I received a portion of the funds along with my brothers.

0:39.8

I bought $175,000.

0:43.5

About five years ago, I went through a divorce and I bought a small house that's appreciated

0:48.6

and value, about $128,000.

0:52.4

So my question is on a half-boughty, I'll just kind of give you the lay of the land.

0:57.8

I had about $100,000 in my eye rate at my present job.

1:02.9

$53,000 in a roll over from a previous job, a small pension that will also come from

1:12.5

my present job if I stay there until I retire.

1:17.7

And $75,000 in cash in my bank account, that's the other chunk of money that came from

1:24.3

the sale of the house.

1:25.6

I gave an investment company about $100,000 to invest.

1:32.1

And then lately, I've been thinking, you know, I've been listening to your show for

1:38.0

a couple of months now and the thing that really struck me lately is just even though I'm older

...

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