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You're listening to Ramsey everyday millionaires where we talk investing, retirement, building wealth and outrageous generosity. Ravi is in Austin, Texas.

Hi Ravi, how are you?

Good, how are you doing Dave?

Better than I deserve.

What's up? So, I have no debt on my name.

There were some debt I cleared it out last year.

The only thing we have is our mortgage, which currently is at $350,000.

I have a stable job. I earn $150,000 from a job. I have a wife and two sons and I have

$200,000 in a savings account. I cannot figure out if I should invest in a real estate and then create a passive

income or are there other better options that I should go for?

I don't know if you'll like my answer but if you filter this through the Ramsey

Babysy Steps which people have followed to become Baby Steps millionaires you would

be at what we call Baby Steps four five and six so invest 15% of your

income or saving for the kids college, and any extra money we're going to throw

with the mortgage principal.

So we have found that one of the keys to building wealth long term is to get a paid

for house in the mix, and it's not one of the keys to

building wealth long term is not keep a 200 or 350,000 mortgage while I go do

real estate that I learned on Tik-talk. That never comes up when we interview

millionaires. What always comes up is we dump money in our 401k, our Roth IRA's,

...