The Ramsey Show “My Financial Advisor Told Us To Take Out A HELOC For A Tax Write-Off”
11 snips
Nov 21, 2025 Listeners dive into a whirlwind of financial advice, tackling everything from the pros and cons of taking out a HELOC for retirement projects to teaching kids responsibility when they break things. They explore how to manage family size while juggling debt and navigate the tricky waters of college funding without loans. One listener even seeks guidance on handling a $6 million windfall! Each story is packed with insights, pushing the importance of cash flow and smart budgeting through every stage of life.
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Avoid New Debt At Retirement
- Do trust your gut and avoid taking on new debt in retirement when you can pay cash for a home improvement project.
- Ken Coleman and Rachel Cruze both recommend cash-flowing the $100–$120k addition instead of using a HELOC or home loan.
Make Kids Repay For Repeated Damage
- Do make children pay for damage when disobedience repeats and lessons aren’t learned.
- Ken recommends full reimbursement for willful disobedience and meaningful work (not chores) to repay parents.
Cut Extras To Stop The Debt Spiral
- Do cut nonessential expenses immediately when monthly spending exceeds income.
- Rachel Cruze urges a temporary lifestyle change (2–3 years) and strict budgeting to stop the debt spiral.
