Smartvestor, Salesman, Six Months discussed on Dave Ramsey

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Not a, good long-term plan but it'll keep you from having to make big decisions In the middle of this you, know in so park it for six months and cry You know And then then, when you're, you know because I know I couldn't think straight and I'm the, money guy. You know so, you, know I I'm not making big decisions in a middle of in the middle of that kind. Of thing and so let just let your head clear for. Six months so I would do nothing for six months to. A year Okay okay and then once you've. Done that I'll go ahead and lay out a game plan. For you okay after that but do you have any debt We're at the end of a, chapter thirteen that we have and that's just got her house. On. It and, then we have a caller okay How much do you owe on the chapter thirteen and on the. Car I owe roughly about eight thousand left on chapter thirteen. I, owe about two. Thou- about twelve thousand nine hundred on the car? Okay so twenty thousand and then how much do you own your home Since it's been in, the chapter thirteen I'm not fully. Aware. But I I imagine it's gotta be under one hundred thousand. I'd say anywhere from eighty. To ninety okay if. You do want to make some moves right quick. I'm not, write those three checks okay and those are those? Are moves that you're not. Gonna regret you're not going to go I really screwed up I wasn't thinking clearly by. Paying off my car I mean now you're not going to have that experience right, are paying off your house and so I would go ahead and pay off all the debts and be debt free and then I parked the rest of, it in a money market or a CD, and you don't have to in that that lightens the load on the household to gives you a little more wiggle room in your in, your monthly budget and you don't have to. Live so tight but just commit then to studying as you. Feel like it in meeting with a Smartvestor pro as you feel like. It, for the remaining. Whatever that is eight hundred grand or so and I only by two things Mark with investing rule. Number one of investing is don't put money in something you don't understand don't do, it because I said it don't do because you're rich friend said to do it don't do it because a broker said do it do it because you, understand rule number two is when you're meeting, with an anyone in the money world insurance real estate mutual fund investing if they if they have the heart of a salesman instead of, the heart of a teacher get away from. Them Union to be. Learning from, them and if you feel slimy after meeting, with them like you need to take, a shower move on Okay, but sit down with a Smartvestor pro in a few months from now and start learning about investing you, sit down with them now but don't do any investing now they can. Help, you park it in a, money market if you want and then just start learning about mutual funds and getting, comfortable with that, again I only by. Two things I buy real estate. That I pay, cash for, because I'm a loved real estate my whole life and I'm. A landlord I don't mind managing rental properties I don't mind you know keeping my finger on the. Pulse of that kind of stuff I actually kind, of enjoy it.

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