When Investing You Have To Consider Risk

Ramsey Everyday Millionaires

Ramsey Network

Investing, Business, Careers

4.6 • 3.6K Ratings

🗓️ 20 September 2023

⏱️ 6 minutes

🔗️ Recording | iTunes | RSS

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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, George Kamel & Jade Warshaw. Helpful Resources: Need Help with your investments? Click here to connect with a SmartVestor Pro. To learn more about how to plan for Retirement click here To learn more about Investing click here Create a college savings plan for your child’s future. Click here to connect with a SmartVestor Pro. Learn more about your ad choices. https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy

Transcript

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0:00.0	This episode is sponsored by Smart Vestor.
0:07.2	Connect with an investing pro for free at RamseySolutions.com slash invest.
0:15.2	You're listening to Ramsey Everyday Millionaires, where we talk investing, retirement, building
0:19.7	wealth, and outrageous generosity.
0:22.9	Richie is with us in Phoenix, Arizona.
0:25.9	Hi Richie, how are you?
0:26.9	Hey Dave, how you doing?
0:27.9	Better than I deserve.
0:29.3	What's up?
0:30.3	Hey so real quick, I've got a mortgage, it's the only debt I have, it is about $260,000 left
0:38.8	I owe on the house.
0:40.6	I bought the house at an interest rate of 2.7%.
0:45.4	I have $250,000 in the bank, so my question is, do I pay off the mortgage?
0:53.2	Everyone's telling me that I could use that money and invest it and get a better return
0:57.4	on it, because I have such a low interest rate on the mortgage.
1:02.7	Every one is broke, so you don't want to go with what they said and I heard financial
1:10.3	planning for them.
1:12.3	You follow broke people's advice, what would you expect to be other than broke?
1:16.6	Yeah, yeah.
1:17.6	So let me ask you this, let's turn it around, sometimes a good way to figure things out
1:21.0	is to reverse engineer them and see how they feel.
1:24.6	What's your home worth?
	...

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