Ramsey Everyday Millionaires

⁠💵 Sign up for EveryDollar today - Create a free Budget!⁠⁠⁠⁠⁠ Listen to how ordinary people built extraordinary wealth - and how you can, too. You’ll learn how millionaires live on less than they make, avoid debt, invest, and are disciplined and responsible!  Next Steps: 💰Need help with your investments? Connect with a SmartVestor Pro: ⁠⁠⁠⁠⁠(⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠SmartVestor Investing Professionals⁠⁠⁠⁠⁠ ) #PaidEndorsement  📝Get your free copy of Ramsey’s Complete Guide to Investing: (⁠⁠⁠⁠⁠Ramsey's Complete Guide to Investing⁠⁠⁠⁠⁠) 🏦Take a retirement assessment to find out how much you’ll need to retire: (⁠⁠⁠⁠⁠Retire Inspired with the R:IQ Retirement Assessment⁠⁠⁠⁠⁠) 📈See how much your investments could be worth over time with this handy calculator: (⁠⁠⁠⁠⁠Investment Calculator⁠⁠⁠⁠⁠) 🧑‍💻Explore free investing tools, articles and more on the Ramsey Investing Hub: (⁠⁠⁠⁠⁠Ramsey Investing Tools and Resources⁠⁠⁠⁠⁠)   Listen to more from Ramsey Network ⁠⁠⁠⁠⁠🎙️⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ The Ramsey Show⁠⁠⁠⁠⁠ 🧠⁠⁠⁠⁠⁠ The Dr. John Delony Show⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠🍸⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Smart Money Happy Hour⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠💡⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ The Rachel Cruze Show⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠💰 ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠George Kamel⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠🪑 ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Front Row Seat with Ken Coleman⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠📈⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ EntreLeadership⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠💸⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ The Ramsey Show Highlights⁠⁠⁠⁠⁠   ⁠⁠⁠⁠⁠Learn more about your ad choices.⁠ ⁠⁠⁠⁠⁠⁠ ⁠⁠Ramsey Solutions Privacy Policy⁠⁠⁠⁠⁠ 

⁠💵 Sign up for EveryDollar today - Create a free Budget!⁠⁠⁠⁠⁠ Listen to how ordinary people built extraordinary wealth - and how you can, too. You’ll learn how millionaires live on less than they make, avoid debt, invest, and are disciplined and responsible!  Next Steps: 💰Need help with your investments? Connect with a SmartVestor Pro: ⁠⁠⁠⁠⁠(⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠SmartVestor Investing Professionals⁠⁠⁠⁠⁠ ) #PaidEndorsement  📝Get your free copy of Ramsey’s Complete Guide to Investing: (⁠⁠⁠⁠⁠Ramsey's Complete Guide to Investing⁠⁠⁠⁠⁠) 🏦Take a retirement assessment to find out how much you’ll need to retire: (⁠⁠⁠⁠⁠Retire Inspired with the R:IQ Retirement Assessment⁠⁠⁠⁠⁠) 📈See how much your investments could be worth over time with this handy calculator: (⁠⁠⁠⁠⁠Investment Calculator⁠⁠⁠⁠⁠) 🧑‍💻Explore free investing tools, articles and more on the Ramsey Investing Hub: (⁠⁠⁠⁠⁠Ramsey Investing Tools and Resources⁠⁠⁠⁠⁠)   Listen to more from Ramsey Network ⁠⁠⁠⁠⁠🎙️⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ The Ramsey Show⁠⁠⁠⁠⁠ 🧠⁠⁠⁠⁠⁠ The Dr. John Delony Show⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠🍸⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Smart Money Happy Hour⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠💡⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ The Rachel Cruze Show⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠💰 ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠George Kamel⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠🪑 ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Front Row Seat with Ken Coleman⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠📈⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ EntreLeadership⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠💸⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ The Ramsey Show Highlights⁠⁠⁠⁠⁠   ⁠⁠⁠⁠⁠Learn more about your ad choices.⁠ ⁠⁠⁠⁠⁠⁠ ⁠⁠Ramsey Solutions Privacy Policy⁠⁠⁠⁠⁠ 

In this engaging discussion, Martin seeks guidance on helping his 80-year-old father manage a $1.3 million net worth. The hosts, George and Rachel, explore balancing market investments with peace of mind, stressing that financial choices shouldn’t compromise his father's comfort. They highlight the challenges of altering an elderly parent's financial mindset and emphasize the importance of wills and inheritance planning. The conversation also touches on meeting a SmartVestor Pro, updating tax strategies, and preventing family disputes over finances.

In this engaging discussion, Ann, a caller focused on retirement and estate planning, seeks advice for her family's future, especially regarding care for her adult child with special needs. Ken and Jade provide insights on the emotional adjustments after reaching financial milestones, emphasizing the shift from intensity to intentionality. They explore projected savings and discuss strategies like increasing her husband’s earnings and tax-efficient Roth conversions, ensuring Ann's family can secure long-term care and stability.

Melissa, a home health agency employee, poses a crucial question about whether to use her sizeable year-end bonus to buy equity in her company. As they dive into the discussion, Dave highlights the dangers of becoming a minority shareholder, such as lack of control and governance risks. He suggests instead that Melissa focus on paying down her substantial mortgage, offering a more secure path to financial stability. This conversation is both insightful and thought-provoking for anyone navigating workplace investments.

Brittany, a caller and employee with a vested stake in her company's equity, seeks advice after a significant stock decline. The hosts explore her long-term investing perspective, discussing the importance of researching company fundamentals before making decisions. Brittany shares her thoughts on recent management changes and market challenges impacting the stock. Ken encourages her to hold her shares for potential recovery, while Jade suggests diversifying future grants into index funds. Ultimately, Brittany decides to stay loyal to her current shares while planning for a more balanced investment strategy.

Ryan, a caller nearing 50, navigates the complexities of retirement and investment strategies. He shares insights about his Roth IRA, his wife's 401(k), and a rollover IRA while seeking advice on maximizing his contributions. Dave Ramsey emphasizes the importance of catch-up contributions and suggests establishing a spousal Roth IRA for enhanced savings. They dive into the tax implications of converting a rollover IRA to a Roth, illustrating how treating taxes as part of your investment strategy can pave the way for a richer retirement.

This week, 75-year-old Lynn from Oregon discusses her journey of caring for her mother with dementia and her recent inheritance of $105,000. She faces the challenge of replacing her income, as her expenses exceed her Social Security benefits. The hosts emphasize the importance of consulting a SmartVestor Pro and not touching her emergency savings. They encourage Lynn to pursue her passion for writing as a potential income source, underlining the need for strategic investing to secure her financial future.

A caller shares about his father's life as a long-haul trucker and how he managed to buy multiple farms. With a monthly income from these properties, the father seems financially set, yet he remains hesitant to retire. The hosts explore options for maximizing this wealth, such as diversifying investments, while acknowledging the father's emotional ties to the land. Ultimately, they advise the caller to have open discussions to offer peace of mind without pressuring his dad, promoting a healthy family relationship.

Emily, a parent seeking financial guidance for her four-month-old son, queries the merits of UTMA/UGMA accounts versus 529 plans. George cautions about losing control over assets as they become the child's at 18. Alternatives like a Roth IRA are proposed for kids with earned income, while a high-yield savings account is recommended for non-college expenses. Control over gifts is emphasized, and George encourages early investing with 529 plans to potentially transform their family finances.