The Ramsey Show - App - My Boss Left Me an Inheritance of $1.2 Million! (Hour 1)

Episode Date: January 4, 2022

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I'm Hi, from the headquarters of Ramsey Solutions, it's the Ramsey Show, where debt is dumb, cash is king, and the paid-off home mortgage has taken the place of the BMW as the status symbol of choice. I'm Dave Ramsey, your host. George Campbell, Ramsey Personality, is my co-host today. He is the host of The Fine Print, a Ramsey Networks production on podcast that has just ended its first season. There are, what, 10, 12 episodes? Yeah, we got 11.

11? We had a bonus one for the Borrowed Future documentary release. Okay, perfect. Very good. Well, be sure and check that out, folks. There's a little bit of everything there. When you read The Fine Print, you will know why you're getting screwed. George will help you do that.

Can't say it's a feel-good show, but, you know, it feels better. It feels good to avoid pain, and you're good at helping them do that. I appreciate that. So there we go. Hey, you guys want to talk about your life, your money, your work, your relationships? We're here to help. It's what we do on The Ramsey Show. The phone number is 888-825-5225.

Ryan is in Bismarck, North Dakota. Hi, Ryan. How are you? I'm doing well, sir. How are you? Better than I deserve. What's up? So my question is, I'll start with that. I just need to know kind of what to do. So right now I make about $25,000 a year and I am getting government assistance from Medicaid and food stamps and government housing and stuff like that. And if I make any more, then all of that goes away. And if I make more, then I have to cover all of that, which would be about $1,500 a month, roughly. So I would have to get another job to make ends meet with that, but I'm barely making ends meet with it as I am now. So I guess my question would be, should I get another job and make more money or should I kind of stay where

I'm at and kind of try and figure out where I can go from here? Where do you want to be in five years and how is the short, what's the best way to get there? Um, basically I just want to be able to spend the money that I make. You know, basically I just want to be able to spend the money that I make. You know, I don't want to live paycheck to paycheck and struggle through life, barely surviving. I just want to be able to, you know what?

I'm, I've made this money. I get to spend it how I want. I'm not monetarily driven, so I don't necessarily want to be a millionaire if you will. But, uh, I mean,

that would be nice, but I'm not super like, I need to be a millionaire, if you will. But, I mean, that would be nice, but I'm not super like, I need to be a millionaire in this many days. Mm-hmm. Okay. Well, it's not the million dollars that matters. It's what it does. It's not the pile of money, whatever pile, size, pile of money you want to deal with that matters. It's what it does. It gives you freedom.

It gives you security. It gives you the ability to help others, none of which you have right now. Right. If you take the government assistance out of the picture and you called in and said, hey, I made $25,000. Should I keep making $25,000 or should I work so that long-term I can make more than that and have control and have less anxiety? I would tell you to go get that other job. You're not going to be working multiple jobs forever, right?

Hopefully. You're going to find a job in a field that you enjoy. Hopefully. Are you able to do the kind of work that you want to do? Actually, right now I'm detailing vehicles, and I kind of enjoy it. That kind of means more to me than a high-paying job is kind of enjoying what I do. Why can't it be both? Can't you detail cars and make a great living?

You're not wrong. There's a guy in my neighborhood who charges $ you know, 300 bucks to detail a car. He can do two cars in a day. You can make great money doing it. You're making a lot more than $25,000. Yeah. And so to me, I wouldn't get stuck on this. Are you working for somebody else detailing cars or are you doing them yourself?

No, I'm working for a company. Okay. Okay, so let's... And I just make $25,000 because that's kind of my cap for my Medicaid and that kind of stuff. Okay. So here's the thing. As long as you use the government assistance psychologically, not a moral statement, but psychologically as a reason not to go be successful, then it's a bad thing.

We want for you, Ryan, for you to be successful and prosperous and have a really quality life. How old are you? 30, and I've got two babies. Okay. All right. And so if I woke up in your shoes, what would I do? And that's the way I answer questions.

George answers questions here on this show. Yeah, you've feed your babies that's your first thing uh number two it is valid that we do want to do something we have some passion about and and are working towards but what i don't hear from you and you couched it under i'm not monetarily driven is i don't hear a lot of ambition um and i want to give you a little bit of that i want to inject a little into you because of what it will bring to your life uh in other words i i would say let's let's start setting some goals like i would love to own my own detail company uh by uh 12 months from now because it really doesn't take that much it's a pressure washer and a thing of rags, right?

And there's a little bit of solvent. So, I mean, you can do this. And then you need some clients. And make a lot more on your own as a mobile detail guy with a cheap pickup and a pressure washer thrown in the back and whatever it takes for you to go do that. It does not require a bazillion dollars in equipment to start this business. And let's go make $60,000, $70,000 a year doing that instead of saying, well, I'm afraid if I make a dollar more, I won't get this government stuff.

And so I'm kind of trapped. You're not trapped. The only trapped you are is between your ears. Yeah, that's a good word. And, Ryan, I think you just need to set some of these goals like Dave's talking about and find that passion. Because I think once you find that, if that's auto detailing, that's great. Go after that. And don't, the government assistance is going to be in the rear view mirror soon as you start to make some great money with this. And you can make this maybe one day a full-time gig. I mean, it's not that you need to quit the government

assistance today, but I would set a goal that by the end of the year I've changed my career, I've changed my job, I've changed what I do or how I do it to where I don't need the government assistance anymore. You do not want to set your life up to where you have a permanent depend on the government because it's not going to create a good life for you. You just don't meet people and go, oh, you know, I'm the happiest guy in my life. I mean, I'm the happiest guy in the world. I spent 50 years in subsidized housing.

It just made my life awesome. These are not things that people say, dude. So, yeah, this is a thing you've got for today, and then you need to have a plan to move away from it for your own dignity, your own prosperity, your own security, and your own growth, your own personal growth. And so it's a good thing. Hey, man, I appreciate your call.

I'm honored to have you in the audience. If we can help you in any way, let us know. Let me send you a copy of Ken Coleman's book. If he'll read it, Kelly, tell him to make sure he'll read it. It's called From Paycheck to Purpose. From merely collecting a paycheck to doing something with your life that has purpose. And oh, by the way, what George said is exactly right. It's not mutually exclusive that you have to not make money in order to be happy.

As a matter of fact, it's usually quite the opposite. When you're happy, you tend to make more money. That's the way it works. It's not just being a greedy capitalist or something. That's not the point. It's not a greed thing. It's a, being a greedy capitalist or something. That's not the point. It's not a greed thing. It's a, I want to feed my babies and have some security and have some choices thing. It's a freedom thing. This is the Dave Ramsey Show. For a lot of you, last year was another year of just trying to survive. But you don't have to live like that. You can have confidence in your money and your future. So if you're tired of being stressed out all the time, you can decide to make a change. You can follow a plan that works. For almost 30 years, Financial Peace University

has helped millions of people take control of their money. You'll learn our proven plan to save money, pay off debt, build wealth, and give generously. Watch FPU on demand or get plugged into a class for encouragement and support from other people. You don't have to face another year of stress and worry. You can have confidence in your money. FPU is only available with a Ramsey Plus membership. Start for free by visiting ramseysolutions.com slash FPU. That's ramseysolutions.com slash FPU. In just nine days, George, next week on Thursday, January 13th, we've got a huge free live stream event coming.

It's called Build Wealth in 2022. We've sold out of in-person tickets. Over 1,500 people will be joining us live in the audience, and over 50,000 have already signed up for the live stream. It's called Building Wealth in 2022. Thursday, the 13th of January. If you haven't heard us talk about it yet, Rachel Cruz, George Campbell, and I are going to be talking about building wealth in 2022. We're going to talk about the latest, greatest, get-rich-quick things.

We're also going to talk about how to really build wealth. We're going to talk about how to become a Baby Steps millionaire. And we're going to show you how to become wealthy the quickest and surest way. Nine days. You've still got time to sign up. It's a free live stream. You go to RamseySolutions.com slash wealth. George, I was going over the content of that event with the production team this morning.

It looks like you've got some pretty cool things to say. Oh, yeah. This is something that's near and dear to my heart because the people that I'm talking to that are in their 20s and their 30s, they're not asking me, hey, how do I pay off my student loans? They're going, I don't have any margin in my life. I need to go get rich. I need to go invest in NFTs and crypto to make a quick buck. And I just want people to slow down, understand what these things are, really listen to the Ramsey plan that changed my life that allowed me to have the margin that they're looking for.

And again, it all points back to our principles, but there's this piece on the top that's all the trending topics that everyone's really freaked out about. Am I gonna have FOMO because I didn't get in on Bitcoin at the right time? And you know this because you talk about it in Baby Steps Millionaires.

The path to get rich quick is a dark path, and it can end very poorly. And the slow path, being the tortoise, is the way to do it. And that's what we outline in the book of all of these stories from people who did it the slow way, and they actually kept their wealth. January 13th, sign up. It is a free live stream and it'll be george camel rachel cruz and me talking about building wealth in 2022 it is real and you know back to our last caller for a second it's worth saying we have never in the 30 years i've been on the air or doing books or been on stage none of us at ramsey have ever told you to become wealthy just to become wealthy or to become wealthy because it's going to make you happy it won't

um but but this idea that being poor is fun or being broke is fun is asinine it's not fun i mean i've been both i'll take i'll take money you know but it's not i. I mean, I've been both. I'll take money, you know. But it's not, I mean, you've got a headache, you can afford a dadgum Advil, you know. But you can't opt out of bothering to handle your money well in the name of, I don't want to be greedy. Because we've never told you to be greedy we've never told you to uh you know to that that money's going to make you happier that money's all that it's not money has absolutely no value except what it does what it does do is it put shoes on your kids feet what it does do is pay the light bill and keep the heat going. What it does do is give you the ability to retire with dignity, not counting on someone else to take care of your old butt. You know, what it does do is give you options to feed hungry children.

I've never met broke people who feed hungry children. It doesn't happen, by the way, unless they're spooning food out that a rich person bought to give away. So, you know, this idea that somehow wealth is bad and it's not a valid goal to go after is a cop-out. Yeah, and you've said this before. Money makes you more of who you already are. So if you're a great, virtuous person who's generous, you're going to makes you more of who you already are so if you're if you're a great virtuous person who's generous you're going to become even more generous when you have money but that's a lot harder to do when you're broke and so if wealth is is evil then the opposite

is being poor is virtuous it just doesn't really make any sense no there is no virtue in poverty that that's there's nowhere in scripture that says poverty is virtuous or that poor people are more virtuous than rich people as a matter of fact i was just doing a podcast with a young man this morning i was a guest on his show and we're talking about this that that the ratio of evil jerks is about the same with rich people as it is with poor people there's just a ratio of evil jerks out there and you know a percentage of the public is just evil jerks they just fall in that bucket and then there's the rest of us and some of us are you know okay some of us are a little better

than okay but the evil jerk bucket is about the same regardless of the poor or whether you're rich and so this idea that somehow it makes you virtuous to be broke is ridiculous and that's why i love the so that and we talk about this a lot on the show we we build wealth so that not just for the sake of piling up money because we can't take it with us it's so that we can have an amazing impact on our families on our communities um and leave a legacy yeah it's you know what it, the only thing that money's good for is so that. That's all it's good for. You can't be outrageously generous if you don't have outrageous. Outrageous starts at that sentence.

I mean, you've got to have the outrageous part to be outrageously generous. And that's the stuff that inspires us all. Yeah. And it's also the most fun you're going to have with money, selfishly. More fun than buying stuff. Get you some stuff. Stuff's fine. I love giving away your money, Dave.

It's a good time. You've kind of developed that into an art form. That's my personal brand. Spiritual gift. Part of your personal spiritual gift. That's what it is, yeah. You have to spiritualize it. God told me.

That's right. Open phones at 888-825-5225. You jump in. We'll talk about your life and your money and your work and your relationships. It's what we're here for. Connor is on the line in Ocean City, Maryland. Hi, Connor. How are you? Good, sir. How are you guys doing? Better than we deserve, man. What's up in your world? All right. So I got a little bit of a, i don't know if i say a predicament i just started listening about a month ago um i've paid off my car since then i have twelve thousand dollars in student loans that i plan to pay as soon as they allow me my provider just got bought

out i don't have the information to pay those off yet cool you'll do that this week though wow um once that's done i'll have about 55 000 in the bank um and in may i plan on purchasing a home i just kind of want to run that by you um so i basically three options i can buy uh like a small townhouse uh real estate's really expensive just like everywhere i guess but right now here it's kind of crazy. My thought process with that would be I would live there, and then as I grow with the family and stuff, I would keep that as a rental, possibly. Or I could spend a little bit more and get a single-family house that would probably last me longer.

Or do I just keep running with how crazy the market is? You're single? I am, yes, sir. What do you make? This year I made 78 good good for you well done okay um i i would buy the townhouse personally make sure you have your emergency fund of three to six months of expenses left out of000. The rest of it's your down payment. Put as much down as you can put down. And here's why. When you get married someday, you're going to discover you bought the wrong house,

and so you're going to get the opportunity to move. But you will have made money on the townhouse. Yes, sir. Okay? And in the meantime, you know, you've not been overshadowed by the – and you just sell the townhouse and buy the next property. We don't keep a rental property in debt when you get ready to move later. But that's what I would do.

I don't know, George, you've got a townhouse, right? Yeah. I'm still in a townhome here, and we're going to upgrade one day. But I would not do investment properties unless you're doing it with cash, which means you've got to pay for townhome first, then you're saving up. And if you want to do that later on in life, but right now focus on getting rid of that debt, get the emergency fund in place, stack up as big of a down payment as you can. We like 20% down or more to avoid the PMI. And then make sure that it's a 15 year fixed and the payment is no more than a quarter of

your take home pay. That way you're going to have margin to do all of the other steps like safer college and cashflow, the wedding and pay off your house early and all the other great things that come along with this plan. Yeah, that stuff will all happen later. But right now we'll just make you a real estate owner on a reasonable payment. And, hey, start working towards paying that thing off. The more of it you got paid off, of course, when you sell it, the more you're going to put down on the next property that you buy.

And you move towards getting your personal residence paid for and then move towards saving up to pay cash for for investments later but i like your plan i like the way you're thinking and you jumped right on it man he took impressive control boom boom knock it out had a little cash there and started using it to clear up the debts cleaning tidying up the debts. Clean and tidying up the house. In the lobby of Ramsey Solutions on the debt-free stage, Andy and April are with us. Hey, guys, how are you? Doing good. How are you? Doing good. How are you? Welcome. Welcome.

Good to have you. Where do you live? We live in Raleigh, North Carolina. Oh, cool. Welcome to Nashville. How much debt have you paid off? $140,000. Woo!

How long did this take? 24 months. Way to go. And your range of income during that time? About $180,000. Okay. Start and finish. Yeah. What do you all do for a time? About $180,000. Okay. Start and finish. What do you all do for a living?

I'm a cost accountant. I work at a tire center. Oh, okay. Cool. Excellent. So what kind of debt was this $140,000? Our house. You paid off your house?

Yes. Looking at weird people. I love it, guys. How old are you guys? I'm 39. 37. And you're not even 40 with a paid-for house. Wow.

That's unbelievable. Way to go. Very cool. Thank you. See, paid-for house must be old people stuff, but they're not old people. Not on this stage. I like it. Well done, man.

Well done. So what's this house worth? Over $400,000. Wow. Way to go. Way to go, you guys you guys all right tell us the story what in the world happened to cause you to want to pay off your house how'd you connect up with all this ramsey stuff so a friend introduced me to your podcast about seven years ago and that was the first time i heard somebody in their 30s pay off their house and realized, oh, wow, we could do that.

Never thought of that before. No. Exactly. So when we bought our house over five years ago, we got a 15-year fixed rate mortgage. And we were like, well, we're definitely doing it before 15 years. And wouldn't it be great if we did it before either of us turned 40? So after we cash flowed renovations, we focused on paying off the mortgage and we did it.

I love it. Wow. So have you guys been following this plan for a while? Have you been out of consumer debt and doing this stuff for a long time? So when we first heard the podcast, we had a car payment, but we had the money to pay it. We just were like, well, it's normal to have a car payment.

But when I found you and realized, well, let's just not have a car payment. There's an idea. Yeah. We paid that off and still had money as our baby step three. And ever since the kids were born, we were paying for their college, and we'd always been investing. So the next step was the mortgage just ride down the baby steps that's incredible well done well done and you're both

numbers people i mean her more than me yes but cost accountant and you said you're what tire center tire center i thought she said tax okay okay all right so wow all right so she's the numbers nurse for sure she's the brains of the operation. All right. Well, that's okay. We can all claim that. But, man, very cool, you guys. So, do you guys just decide, all right, if we just live on this much, the rest can go towards the house.

We can do this whole thing in 24 months. Was that the goal? Yes. Exactly. He teases me because I love spreadsheets. And so, I had a spreadsheet that said said if we paid this each of the months we do we were good then um but on paper you went no we can do this if we just follow what's on the paper on the spreadsheet yeah wow I mean I'll tease you about your spreadsheet too but you

gotta pay for a house 37 years old who's making jokes now yeah spreadsheet yeah that's incredible pretty cool so were there sacrifices along the way for you guys as you were on this journey i mean obviously you could have done a lot of things you have a great income you had no debt people are people going what are you doing paying off your house early oh yeah there was lots of things we could have gone to go do instead of but yep but we just helped each other stay focused and the kids helped us um they didn't get to do you know all the different activities and stuff because we said you know if we just helped each other stay focused, and the kids helped us. They didn't get to do, you know, all the different activities and stuff because we said, you know, if we just put it towards the mortgage, then we're done, and then you can do any activity you want to do.

So what's the big thing you're going to do now that the mortgage is paid for? Well, we want to see all 50 states before our oldest graduates high school. There you go. Yeah, and you're young young and they're young kids and now you have the money because you don't have any debt to travel so tell me yolo people they got you butt whipped right here i'm just telling you this is amazing yeah very cool you guys very cool i just love it i mean it's just you are living like no one else so that later you can live and give like no one else you truly have have paid the price to win so what do you tell people when they find out you guys are so you paid off your house how did

you do that what do you tell them the key to getting out of debt is? Make a plan and stick to it. And I think every dollar really helped because before you guys had that, I did my spreadsheet. And I could see it every day, but he couldn't. So now with every dollar, we both have it on our phones. So we both knew how we were doing throughout the month. And it was great. Yeah, you both stay, stay that unity that working together having a game plan having a budget having a tool like every dollar to work with for those of you that don't know that's the world's best budgeting tool happens to be produced by ramsey but yeah

you guys are incredible i'm so proud of you thank you how's it feel to not have a payment in the world it's awesome it's so nice soing. How much is in your retirement accounts? Over $500,000. So you've hit millionaire status then. You're Baby Steps millionaires. Yes. And you're not even 40. They're kind of embarrassed about it.

I know. That's cute. I'd be cheering right now. You guys are amazing. Woo! Yeah! That's what. I'd be cheering right now. You guys are amazing. Woo! Yeah! That's what we do right there. Look at that.

We should have put them in the Baby Steps Millionaires book. This is incredible. Yeah! Did you guys ever think this was possible? I mean, when you graduated college or whatever it was, did you think we're going to be millionaires? By 40, I'll have a paid-for house and I'll be a millionaire. Oh, God, no. No.

I mean, come on! It's awesome! It is. It is, yes. Yeah. Are you the only people in your sphere that are like this, or are there others? Have you inspired anyone else? We try to inspire family.

I don't know if they're sticking to it or not. Family is the toughest one, I found, to get on board. But, man, they're looking at you going, oh. They knew you were weird, and now you just proved it. I love it. You guys are amazing. You're amazing. Well, and now you just proved it. I love it. You guys are amazing. You're amazing. Well, congratulations.

Thank you so much. So very stinking cool. Man, it's just fun. And go see those. What's the first big state? What's the first travel? We're going to Utah in a week. Okay.

See some national parks and Ice Castle for the kids. Yeah. Wow. Yeah. We have about 19 states for the kids. Yeah. Wow. Yeah. We have about 19 states under our belt. That's impressive. So are you guys homeschooling to be able to do this? Are they traveling with you?

Are they in and out and traveling when they can? We have year-round school, so when they do track outs. Oh, you get those breaks. Yeah. Well, hit Park City and go down the slopes. Yeah. All right. While you're there.

Park City's beautiful when you're in Utah. Yeah. Excellent. Well done, guys. Woo-hoo-hoo. This is awesome. All right. We got a copy of Baby Steps Millionaires for you.

That is where you are. That's the next chapter in your story, and you are already reading it, baby. I love it. Well done. Book comes out next week, but we're going to give you an advanced copy. And, of course, we're going to give you a copy of Total money makeover for you to pay it forward and give to someone and disturb their lives i'm so proud of you you're such a neat power couple what are the kiddos names and ages claire's 10 and connor is 8 okay now the big question claire and connor is have you been

practicing the debt free screen yeah yeah they're both they're. Yeah, they're both. They're so well-behaved. They're dialed in. They've had all the way from Raleigh to get this right, and maybe a few months before that. So good stuff, you guys. Man, you all are just neat. Thank you so much. I'm so proud of you. Thank you. I'm so happy for you that you're going to get to do all these things and be all these blessings to your family.

It's just very cool. All right. It's Andy and April, Claire, and Connor from Raleigh, North Carolina. Get ready. $140,000 paid off in 24 months. That's house and everything. Oh, and by the way, Baby Steps Millionaires making $180,000. Count it down.

Let's hear a debt-free scream. Three, two, one. We're debt-free. Yeah, George. Wow. My face hurts from smiling. That's why I keep coming down here, man. 37-year-old millionaires.

Bring it, baby. Just like that. Bring it, baby. I think you need a new man. 37-year-old millionaires. Bring it, baby. Just like that. Bring it, baby. I think you need a new book. Touchdown! Multi-millionaires. We should call it Baby Steps Millionaires by the time you're 40. This is The Ramsey Show. We'll be right back. George Campbell Ramsey personality is my co-host today.

A week from Thursday, we'll be doing the Building Wealth in 2022 free live stream. If you want to view it, it's free. Did I mention it's free? I think you can afford it. It's free did i mention it's free i think you can afford it it's free check out ramsey solutions.com slash wealth or just hit our live events tab at ramsey solutions.com and you can sign up doesn't cost anything but you do have to sign up ahead of time to be ready for the event this coming thursday night cory is in little rock hi Hi, Corey. Welcome to the Ramsey Show.

What's up? Hi, Dave. How are you? Better than I deserve. How can we help? My name is Corey. I'm 32. And my boss just passed away a couple weeks ago.

And so he left me some money. And so I'm just trying to really figure out what i'm supposed to do like my dad has told me what i need to do but it's just it's a lot going on and i'm just trying to because i don't have a job now since my boss passed away but your boss left you money in his will yes wow that's an unusual arrangement i was his personal assistant for eight years okay yeah so he he did um he was an oil contractor and so i did all his scheduling everything i was as he used to call me his go-to go-to gal all the time so i mean i just kept up with all his books and everything that he had done and so after i knew he didn't have he didn't have family then he did he did okay so his wife is the one that actually

called me and let me know that I left something. Oh, okay. So he didn't leave everything to you. No, no, no, no, no, no. Okay, I'm just trying. It's just an unusual story. It's a wonderful story, but I'm trying to understand. So how much did he leave you?

$1.25. Million dollars? Yes. Wow. Oh, my God. million dollars yes wow oh my god i couldn't i couldn't believe what was the old guy worth a billion or something he he he has a lot i mean several properties i I helped him manage his properties. He would take me on trips with him and his family, my kids. He took care of my kids. I mean, he was an amazing person.

Wow. So are you married? No. Okay. How old are your kiddos? I have a 15-year-old, a 4-year-old, a 3-year-old, and an 11-month-old. What was your income before you lost your job? $65,000 a year.

$1.25 million. Wow. Yeah. So do you have any debt currently? Any consumer debt? Yes, I have student loans. I have about $40,000 in student loans. Okay.

We're renting an apartment, so just month by month, that's $1,200 for our rent. And then my car, my mom gave me her car, so I have a 2006 Honda Odyssey. Okay. All right.

Well, you're very wise. You sound a little bit overwhelmed by this, a little bit scared even. My dad suggested that because my boss was very flexible with my, because he knew I had kids and everything. So it was a lot of, I could work from home, do calls, calls and everything like that. I could do a lot of stuff from home. But now I don't think if I get another job, I will have that. And it's kind of the viewpoint my dad was looking at.

So he was thinking like maybe if I take a break until my youngest who's 11 months old starts kindergarten because right now it would be like daycare for all of them well mine is not 15 year old it would be daycare for all of them and he doesn't think that it would be wise for me to go back to work just yet and just use the money i don't i don't know. Okay. All right. Well, what I would suggest you do is that you build a – let me kind of pan back. Let's just zoom back for a second from worrying about what we're doing tomorrow. Overall, someone just handed you $1.25 million to manage. That's your new job.

And you don't know how to do it. Okay. Is that right? Yes. That's why you called me. Yes. And that doesn't make you bad. That doesn't make you bad. It's just that you've never managed $1.2 million before, right?

No, definitely not so what you do when you have a responsibility that large which is what this is it's not a woohoo i hit the lottery moment and i don't hear that in your voice by the way i hear a little bit of fear a little bit of grief still from your friend passing away a little bit of shock and awe which i have in my voice that you got this much money from your employer that's pretty cool um and um so here's what i suggest that people do you need to a number one move slowly okay if you feel urgency or someone pushing you, stop. Okay. Because where people make mistakes when they don't know what they're doing is they go too fast. Let's pretend you're driving a car for the very first time.

I took my kid out in the church parking lot with the Jeep and the straight shift to teach him how to do the drive and to do the straight shift. The first rule is don't even change gears. Let's just figure out and move slowly get in trouble stop right and that's what you're going to do here because it's something you've never done before okay second rule is the bible says in the multitude of counsel there is safety so i want you to build your own advisory group, your own board of directors, not to tell you what to do, but to advise you and teach you and then you decide what to do. Okay. You got a pencil? Yes. You read right? Okay. First thing you need is you need an investment advisor.

Click SmartVestor at RamseySolutions.com. You can find one that we suggest. The second thing you need is a tax advisor. Click TaxELP at RamseySolutions.com and find one that you like. The third thing that you need is sometime in the next year, I suspect you're probably going to buy a home and pay cash for it. An inexpensive home. Under $200,000.

Okay. And you're going to need a good real estate agent. That's your third person on your board, on your advisory board. Again, we've got ELPs that can sit down with you and help you with that you need to make sure you have the right kinds of insurance in place so you need an insurance there you go you need insurance in place and you again we've got elps to help you with insurance

we're not in any of these businesses but we've got people set up to where you can form your advisory board, and their goal is not to tell you what to do, and your goal is not to hire a babysitter. You're a grown woman. So your goal is to gather information from advisors by which you go slow enough that you learn and then you make the decisions okay and i think you can buy a home for cash and invest some of this and not have to go back to work okay i can do like my dad said yep but it's not it's not by using the money it's by investing the money and using the money that the investment creates. Okay.

We're not going to use any of the money. We're going to put it in an investment, and it throws off an income for you to live on. Okay. With your investment advisor, and you're going to not need a lot of income because your house is going to be paid for and your car is going to be paid for. You're not going to have any debt, and you're going to be on a budget okay because like i said i was paycheck to paycheck you're not going to live paycheck to paycheck anymore you're just going

to tell every dollar what it's going to do that's coming in you're going to have more dollars than you used to have okay and i want you to go through ramsey plus go through financial peace university and learn how to handle money. I'm going to pay for that. We're going to give it to you for a year. Because you've got to get up on top of this thing or you're going to live with this horrible taste on the back of your tongue called regret. Move slowly and learn and put advisors in your corner. Hold on. Kelly will pick up and we'll help you.

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