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The Ramsey Show

Should We Buy Land Right Now? (Hour 3)

The Ramsey Show

Ramsey Network

Education, Investing, Business, Self-improvement

4.538.5K Ratings

🗓️ 30 March 2023

⏱️ 39 minutes

🧾️ Download transcript

Summary

Ken Coleman & Rachel Cruze answer your questions and discuss: "Should we buy land for our son and leave it to him in the future?" Investing as a recent college graduate, "Should we file bankruptcy?" "How should I invest $20k?" "Is college worth it for me?" Working with a spouse on the budget. Support Our Sponsor: Neighborly Have a question for the show? Call 888-825-5225 Weekdays from 2-5pm ET Want a plan for your money? Take our FREE 3 minute assessment: 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

Except for the beacon with the bridge of James Yes!

0:04.6

Respect the

0:06.5

concert with ONE

0:29.8

nunca

0:59.8

Fabulous

1:29.8

We went to Missouri. I have been on our game closer time at age and we're just looking for a place to get

1:36.8

loved in but city life we don't want to you know we need a little get away from city life and retirement age.

1:42.8

So long story short once Missouri found a piece of property down love with it and we would just want to know if it's a good idea to buy it or not.

1:51.8

My husband loved it. He wants them about a Texas and he wants to work in Missouri and he says he would be

1:58.8

loved to live in right the family on that piece of property. So the end goal is to be him raising his family but we're going to enjoy it.

2:04.8

We're we're here. Okay and you're calling us to get our opinion on this. I'm curious. What are you nervous about?

2:12.8

What are you unsure about? What's the piece of information we don't have as to why you wouldn't buy it?

2:17.8

Well I just want to make sure like I'm we're financially okay right now. What does that mean?

2:22.8

What does that mean? I just want to make sure. So we have we have some investments and we have how much are in those.

2:34.8

We could take the property. Okay so investments are about 800 800000 are those in retirement or just in the market.

2:44.8

And you say investments is a mutual funds. No. 401k Roth IRA or just strictly mutual funds.

2:52.8

Mutual funds Roth IRA and I think a step. Okay yeah my husband has a step. Yep okay great.

2:58.8

And so we have that goal and then a liquid or in the bank we have 1.6. So we have a job.

3:09.8

Thank you. Thank you hard work hard work. How much is the land?

3:17.8

The land is well and they want 1.1.1.8 on the land. But we're going to have to do some work to the house.

3:26.8

Is it there's a house on it? Yeah but it's a little house. It needs a little work. It's a little farmhouse.

3:32.8

Have you run comps on this? How are how are how many acres to?

...

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