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Ramsey Everyday Millionaires

What Is an Index Fund & Should I Invest in One?

Ramsey Everyday Millionaires

Ramsey Network

Investing, Careers, Business

4.63.6K Ratings

🗓️ 19 September 2022

⏱️ 6 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.

0:13.9

Today's question comes from Taylor in Indiana.

0:16.2

I've come into some inheritance money and wanted some ways to invest that is best for

0:20.8

me at 68 years old.

0:23.0

I have no outstanding debt and I'm very healthy.

0:25.9

I've read much on index funds but need some guidance.

0:29.7

Thank you.

0:30.7

Alright, so 68, we don't know how much this inheritance is and we don't know much about

0:34.8

Taylor's financial situation.

0:37.1

But I would tell her to make sure she has all of her debt paid off, including the home

0:41.5

and beyond that, we can invest some of this money into mutual funds and potentially index

0:47.5

funds.

0:48.5

So, I think that is wise as far as investing goes and she needs to be working with a pro

0:53.6

who can guide her because this is clearly very new to her new territory.

0:57.2

Yeah, take your time and learn about it.

1:00.4

Sit down with one of the smart investor pros.

1:01.9

One of the things in order for a smart investor pro to be Ramsey trusted and become a smart

1:06.5

investor pro, someone in the mutual fund and investment and vice business, they don't

1:12.2

work for us.

1:13.2

But in order for us to put our stamp of approval on them, they have to have the heart of a

1:16.7

teacher, meaning that their job is not to sell you something, their job is to teach

...

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