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EN
'This Is Insanity. If I Woke Up in Your Shoes, I Would Put $250,000 Down on That House': Dave Ramsey Tells Couple To Sell Stocks And Pay Off Their Mortgage — Even With a 2.875% Rate and a Baby on the Way
['Mon', 'Sep', 'Min Read']
Yahoo News - Latest News & Headlines
Personal finance commentator Dave Ramsey urged a 33-year-old caller to cash out his stock portfolio and put the proceeds toward his mortgage, even though he holds a low 2.875% rate.
The Boston-based caller, Nick, explained that he and his wife are raising an 18-month-old with another child on the way.
The couple has $30,000 in emergency savings, $100,000 in a high-yield money market account, and $150,000 invested in stocks.
He recommended trimming the emergency fund to $30,000 and using the remaining $250,000 to pay down the mortgage.
"If I woke up in your shoes, I would put $250,000 down on that house and have a $30,000 emergency fund by the end of the day."
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