What Should We Do with a Million Dollars?

The Ramsey Show Highlights

Ramsey Network

Self-improvement, Education, Investing, Business

4.6 • 682 Ratings

🗓️ 26 August 2023

⏱️ 3 minutes

🔗️ Recording | iTunes | RSS

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Summary

Today's episode features Dave Ramsey & Ken Coleman. The Ramsey Show Highlights is a quick, daily dose of advice on life and money in under ten minutes. Hear from experts like Dave Ramsey, Ken Coleman, Rachel Cruze, Dr. John Delony, George Kamel & Jade Warshaw. Part of the Ramsey Network. Delivered to you seven days a week. Learn more about your ad choices. https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Jamie is in Washington State.
0:07.0	Hi, Jamie, welcome to the Ramsey Show.
0:10.0	Hi, Ken and Dave.
0:12.0	My question is, is my husband and I are expecting to receive over a million dollars in a buyout situation,
0:19.0	and we're not sure what we should do. If we should take
0:22.2	it in one month. Party! I wish, but I'm not that type. I'm kidding. I just couldn't resist.
0:30.9	I'm not sure we should you could do. I think I can find something. Okay. Wow, what happens?
0:35.0	Was he hurt or something? What happened?
0:44.4	No, we were, my husband was involved. He had a partnership in a business, and they decided to buy him out.
0:51.4	Oh, cool. That's awesome. Okay. So you got a million bucks, and you're trying to decide what to do with that?
0:57.8	Correct. And we owe $390 on our mortgage, and that's our only debt.
0:58.3	Okay.
1:02.5	And our nest egg is $225 around that.
1:02.9	Okay.
1:05.6	Well, then we got $600 left because we just paid off the house.
1:07.6	Okay.
1:08.5	Now what are we going to do?
1:09.1	How is he?
1:12.8	He's 41. Awesome. What's he going to do now?
1:24.4	We don't, we don't know. We kind of feel like the options are open. Um, yeah, like infinite. Yeah, I got 600K to play with. Yeah, let's go do something.
1:28.4	We're not interested in maybe staying in Washington,
1:35.8	but interest rates were concerned to move. Well, you don't have an interest rate if you have a paid for house. My interest rate's zero, because I don't have one. Correct. And yours is
	...

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