Should I Cash Out My Whole Life Policy? (Hour 3)

The Ramsey Show

Ramsey Network

Education, Investing, Business, Self-improvement

4.5 • 38.5K Ratings

🗓️ 8 November 2022

⏱️ 40 minutes

🔗️ Recording | iTunes | RSS

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Summary

Dave Ramsey & Kristina Ellis discuss: Cashing out a whole life policy. Preparing for getting fired. Have a question for the show? Call 888-825-5225 Weekdays from 2-5pm ET Want a plan for your money? Find out where to start: https://bit.ly/3nInETX Listen to all The Ramsey Network podcasts: https://bit.ly/3GxiXm6 Learn more about your ad choices. https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy

Transcript

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0:00.0	oh
0:23.3	Live from the headquarters of Ramsey Solutions Broadcasting from the pods of moving and
0:33.3	storage studios, it's the Ramsey Show where that is dumb, Cajun's King and the paid-off
0:39.4	home mortgage has taken the place of the BMW as the status of a choice.
0:45.7	We help people build wealth, do work they love and create actual, amazing relationships.
0:52.9	The scene of Alice Ramsey personality number one bestselling author is my co-host today,
0:57.4	Open phones at AAA8255225.
1:01.9	Ricky is in Rhode Island.
1:03.4	Hi Ricky, welcome to the Ramsey Show.
1:05.4	Hey Dave, thanks for taking my call, I really appreciate it.
1:09.0	Sure, what's up?
1:11.4	So I was just kind of, you know, driving around and I was thinking about like different things
1:17.1	financially and I was thinking about how my, I got a whole life insurance policy.
1:23.4	I was purchased by my parents back in 2001.
1:27.4	I'm sorry.
1:31.5	And so it has like a cumulative value or cash to render value of $10,000, $811.
1:40.2	So I was wondering if it would be financially smart to try to withdraw that and put that
1:48.2	in like a money market fund so that it maybe it grows a little larger or a little faster.
1:54.0	How old are you?
1:57.1	So I just wanted to get your opinion.
1:58.8	I'm 36.
1:59.8	Okay, you have married, have children?
	...

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