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 and 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 gonna making big decisions in 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 car okay How, much do how much do you owe on the chapter thirteen and on the. Car I owe roughly about eight thousand left on the chapter thirteen Uh-huh I owe about to 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 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. Right 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 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 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 it because you're rich friends said to do, it don't do it because a broker, said do it 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 Be learning, from them and if you feel slimy after, meeting with them like you need take, a shower move on Okay but sit, down with 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 the 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 I 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.

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