Smartvestor, Union, Salesman discussed on Dave Ramsey
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 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 gonna 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 do you have any debt We're. At the end of a chapter, thirteen that we have and that's just got our 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 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 might. Write those three checks okay and those are those are moves? That you're not gonna regret. You're not gonna go oh I really screwed up I one thing and clearly by paying. Off my car I mean now I'm you're not gonna 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 into 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 don't if they have the heart of a salesman instead of, the heart of a teacher get away from. Him Union 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 Smartvestor pro in a few months and 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 of loved real estate my whole life 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.