The Ramsey Show Don’t Let Self-Limitations Keep You From Building Wealth
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May 1, 2025 Explore the financial hurdles of navigating a divorce while protecting your children and assets. Delve into the complexities of investment decisions using settlement money. Discover the delicate balance between family obligations and personal desires at events like destination weddings. Learn effective communication strategies with partners about work-life priorities. Address the daunting challenge of aging parents' retirement planning and tackle tough conversations about hidden debts and consolidation loans. Gain insight into generous acts amidst financial constraints.
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Divorce Financial Reality
- If your spouse files for divorce but still lives with the family, demand they move out immediately.
- In most states, with young children and a long marriage, child support and alimony will consume most of their income.
Avoid Rental Property With Settlement
- Avoid buying rental property with a young adult's settlement money, especially if health issues exist.
- Park the money conservatively with a financial advisor to let it grow safely while focusing on healing.
Income Before Truck Investment
- Don't buy a truck for a job you just started without sufficient income.
- Focus on making money first before investing in expensive work equipment.
