The Ramsey Show

Stop Watching the Market—Start Building Wealth

Apr 4, 2025

The hosts tackle the importance of staying calm during market fluctuations and focusing on long-term wealth-building strategies. A listener bravely shares her experience of financial betrayal, highlighting the struggle of rebuilding trust. They explore effective budgeting techniques and debunk common tax myths that hinder financial literacy. Inspirational success stories remind listeners of the power of proactive money management. Tips on balancing debt with saving for a family provide practical advice for those navigating financial challenges, all while encouraging empowerment and resilience.

01:28:20

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Episode notes

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Quick takeaways

Investors should maintain a level head during market downturns and view reduced prices as opportunities to buy rather than panic-selling.

Thoroughly selecting financial advisors and actively managing one's finances is crucial, especially after experiencing trust violations in sensitive situations.

Establishing a clear plan to prioritize debt payments and seeking professional guidance can significantly improve financial management and independence.

Deep dives

The Importance of Staying Calm with Investments

In times of market uncertainty, it is vital to remain calm and not make hasty decisions regarding investments, particularly retirement accounts like a 401k. The discussion emphasizes the need to avoid panic driven by news headlines and market fluctuations. It is suggested that during downturns, investors should hold their positions and view the reduced prices as an opportunity to buy more shares while they are 'on sale'. Keeping a level head and refraining from making emotional decisions is essential to successfully manage one’s investments over the long term.

Intro

2min

Trust Betrayed: Navigating Financial Trauma

7min

Building Financial Momentum

6min

Building Wealth with Intentionality

4min

Empowerment and Taking Action in Life

4min

Tax Myths and Business Advice

6min

Debunking Tax Myths

4min

Navigating Financial Challenges in Education

9min

Financial Freedom: The Path to Stability

3min

10.

Navigating Financial Challenges in Early Parenthood

7min

11.

Navigating Financial Challenges and Graduate School

14min

12.

Journey to Financial Freedom

7min

13.

Debt-Free Journey: A Personal Triumph

4min

14.

Navigating Financial Freedom

9min

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George Kamel & Ken Coleman answer your questions and discuss:

"I was scammed by a family friend and I'm afraid to trust anyone now regarding investing,"
"I can’t afford to invest 15%,"
"Should I open a traditional IRA for the tax benefits?"
"Should I use a national debt relief plan?"
5 Tax Myths,
"What advice do you have regarding budgeting for scheduled withdrawals?"
"I can't afford to file bankruptcy..."

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