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Chapter 1: What is the focus of today's Ramsey Show episode?
Live from the headquarters of Ramsey Solutions, it's the Ramsey Show, where we help people build wealth, do work that they love, and create actual amazing relationships. I'm Dave Ramsey, your host. George Campbell, Ramsey personality. Number one best-selling author is my co-host today. You jump in. We'll talk about your life and your money.
The call is free, and some say the advice is worth exactly what you pay for it. Yeah, jump in. 888-825-5225. We'd love to talk to you. Tonight, for those of you listening live through one methodology or another, we're on about 83 different platforms online. of different kinds with this show.
But if you're able to listen on Tuesday for whatever, Tuesday evening, we will be doing the Investing Essentials workshop tonight. George and I just came out of a rehearsal. This is about a two-hour event this evening and tomorrow evening. Tuesday and Wednesday night. If you buy a VIP ticket, you have 30 days worth of replay. You can watch it over and over and over for 30 days.
So no rush, no problem, whatever. But you do need to get your ticket if you want to watch this evening live. He and I will be doing investing tonight. Tomorrow night we'll be doing investing in real estate. And George is loving this, bringing out your – I know you look very GQ on the surface, but underneath we know you're a true nerd.
I love it. Just watching Dave unpack a formula, I don't know, that's my new hobby, I guess. But it really is. It's stuff we've never talked about on this show, mostly because you thought it was too dry and boring.
It's too nerdy.
But then people went, no, no, no, Dave, we actually want to know, how do you select a mutual fund out of all the investment options? We're going to cover that. It's too nerdy. How do you calculate the cash-on-cash return to know if the investment property is worth it?
How do you do an internal rate of return on a piece of real estate? It's too nerdy. But I do it all because I also am a super nerd. So a couple super nerds tagging up tonight, Investing Essentials virtual event. My pastor used to say, a man with an experience – is not at the mercy of a man with an opinion. I own about $600 million worth of real estate. I'm 64 years old.
I've got a lot of money in other investments as well. This is not something I wish I knew something about. I can't fix your car, but I can tell you how to do this. Because I have done this a lot.
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Chapter 2: What should I do with my lottery winnings?
Well, if you're in a one-bedroom apartment or two-bedroom apartment, you've got two little kids or three-bedroom, whatever, if you're renting somewhere you weren't emotionally attached to and had no relatives tied to it, would you come buy this house? Right. If the answer is yes, then buy it. You're financially ready. What do you think, George?
Yeah, and if you want to save up a little more and do this in six months, that's fine, too. You just got to weigh it out and go, we got to get a little less house. But mortgage payment is probably going to be about $1,000, so it's reasonable for your income.
Yeah, the numbers work on this. You can do this. On a 15-year fixed, you're fine. But just don't buy something because it's handy and the in-laws said do it. That's never a good reason. Buy it because it's something you would have bought anyway. And if that's the case, then game on, baby. You're ready. You've done a good job. Man, that's cool. This is The Ramsey Show.
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Live from the headquarters of Ramsey Solutions, it's The Ramsey Show, where we help people build wealth, do work that they love, and create actual, amazing relationships. George Camel, Ramsey personality, number one best-selling author, is my co-host today. Open phones here at 888-825-5225. He's also the co-host of Smart Money Happy Hour.
with Rachel Cruz, one of our top shows here on the Ramsey Network. So if you've not checked that out on YouTube or podcast, you should. They are way more fun than they should be allowed. And we even pay them for having that much fun. I can't believe I get paid to do this. You two goof-offs, get on there and make yourselves really popular, and I pay you for the opportunity.
You greenlit the show.
I'm telling you, I actually did attend it finally. Yeah, it was great and had a lot of fun with you all.
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