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The Ramsey Show
Re-Imagine What a Life Well Lived Looks Like
Jun 14, 2024
Financial expert George Kamel and psychologist Dr. John Delony discuss managing debt after divorce, combining finances in marriage, helping elderly parents plan for the future, and redefining a fulfilling life. They offer advice on overcoming financial challenges, balancing charity and retirement planning, investing in rare items, and navigating financial conversations in relationships.
02:05:36
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Quick takeaways
- Combining finances after marriage involves creating joint accounts for financial security.
- Operating a business debt-free ensures stability and growth prospects.
Deep dives
Investment Decision: Financing a Drum Set
Zach from Kansas is contemplating using his 401k money to purchase an Alex Van Halen drum set at an auction valued at $100,000 to $150,000. He believes it will appreciate more rapidly than his 401k investments. However, it is cautioned against this decision due to the penalties and taxes incurred in 401k withdrawals, which could deter future growth potential.
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Discover
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Listen to the best highlights from the podcasts you love and dive into the full episode