"This Is The Most Naive Financial Formula On The Planet!"

The Ramsey Show Highlights

Ramsey Network

Investing, Education, Business, Self-improvement

4.5 • 838 Ratings

🗓️ 10 October 2025

⏱️ 4 minutes

🔗️ Recording | iTunes | RSS

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Summary

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Transcript

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0:00.0	Zander shops all the top-term insurance companies to save you money.
0:06.8	Get started at zander.com.
0:08.7	We did a family deal mortgage before we found you.
0:13.3	My wife and I are huge fans.
0:15.7	We've been paying it like a 15.
0:17.8	We have five years left.
0:19.9	It was all done by a lawyer, so it's legit, but the
0:24.2	interest is only 1%. I would like to pay it off early, but everyone around me saying,
0:30.6	don't do that. It's stupid, you know, because the money's making more just sitting in high-yield
0:35.6	savings. You don't have the money in high-yield savings? We do. Oh, you have the money to pay it off? We do. Oh, okay. Yeah. Well, who cares what everyone says? Everyone's broke. Well, I know, but that's why I'm calling you. I know, but everyone's broke. Don't take financial advice from broke people, man. Yeah, no, I know.
0:54.7	Or indebted people.
0:55.5	Well, our CPA is even saying not to do it.
0:57.7	Fire him.
0:58.5	Yeah.
0:59.1	He can't add.
1:00.0	Yeah.
1:00.5	Who's the family member that owns this loan?
1:04.8	It was my grandpa, and that's part of kind of the funny equation is that he recently passed away.
1:10.0	So his wife, who's not my grandmother, is now the bank.
1:15.7	And everything is still okay, but something in my gut just wants to pay her off.
1:20.5	Your gut is correct.
1:21.7	You have a good gut.
	...

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