You Need a Lawyer To Put the Fear of God in Your Renters (Hour 3)

The Ramsey Show

Ramsey Network

Education, Investing, Business, Self-improvement

4.5 • 38.5K Ratings

🗓️ 21 March 2023

⏱️ 38 minutes

🔗️ Recording | iTunes | RSS

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Summary

Dave Ramsey & Jade Warshaw answer your questions and discuss: "What do we do with our money during a sabbatical?" What to do when your renters stop paying rent, The best way to save up for a rental property, Transferring mutual funds when employer switches 401(k) plans, "Should I take out small loans to boost my credit score?" from the blog: The Best Way to Improve Your Credit Score Support Our Sponsor: Neighborly Have a question for the show? Call 888-825-5225 Weekdays from 2-5pm ET Want a plan for your money? Take our FREE 3 minute assessment: https://bit.ly/3nInETX Listen to all The Ramsey Network podcasts: https://bit.ly/3GxiXm6 Learn more about your ad choices. https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy

Transcript

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0:00.0	My
0:30.0	Welcome to the Ramze Show, where we help people.
0:35.0	Build wealth, you work that they love, and create actual amazing relationships.
0:44.0	Jade Watch all Ramze First Malady is my co-host today, Open phones at AAA8255225.
0:52.0	That's AAA8255225. CC is an Indianapolis High CC.
0:58.0	Welcome to the Ramze Show.
1:00.0	Hi, Dave. Thanks for taking me along.
1:03.0	About two years ago, we paid off our house, and as of May 2022, we have a $1 million network.
1:12.0	Yay!
1:14.0	Yeah, but I'll be honest with you. I'm more fearful now, and we will book.
1:21.0	I'm not sure what to do with this stuff. I know that we have about $430,000 in cash spread across three banks.
1:30.0	And we have $650,000 in our house, which we are selling in May.
1:37.0	And then we are taking off for about a year and a half to two years to medical.
1:43.0	So, I don't know where to park this stuff. I'm fearful of banks, fearful of, you know, there is a little bit of inheritance in there.
1:58.0	So I have that pressure of like, I'm the third generation, so I don't want to mess that up.
2:05.0	And some of our money came from real estate investments, but I went out of that because I don't want the responsibility of it when we're gone.
2:13.0	So I don't know what to do.
2:17.0	How much money do you still have in real estate?
2:20.0	Just the house.
2:22.0	Just the one.
2:23.0	So right now, at the end of this story, you've got a million dollars in cash is what you're saying.
2:28.0	And you've got to decide what to do with it while you take a year and a half off.
	...

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