Please don’t tell anyone! People know you inherited money and suddenly you are the one buying things for your friends. Seen it happen.

One of the smartest things the 19 yr old could do... ask how to deal with sudden wealth and not blow it.

That's the oldest sounding 19 year old I have ever heard

Sooooo glad he called Dave before doing ANYTHING

Lol I wish I had this problem. Wipe that debt and Invest immediately man.

I wish I had a grandparent that left me money. So I have a plan to be that aunty to my niece.

This kid will be set for life if he plays it correctly. Even $50k in a decent fund that starts before he's even 20 will be a very nice start. He'll graduate debt free with an emergency fund, paid for car, and a huge start on retirement 🍻

Lol don't spend it! But I agree that finishing off school debt free is the best move.

People are so lucky to have inheritance. Me and my husband both of us paid for our own college courses, parents didn't save any college fund. When we had full time jobs, just jobs, nothing else with a little better pay, suddenly we were the ones should pay for all. So whenever family member asked how much did I make this year I told them none of their business.

Love how Dave and Anthony always say buy a car 10k at most very true!!

Dave should introduce him to WallstreetBets🤣

I love how he's papa Dave ❤ he talks to you like you're family

I can relate to this. I inherited under 200K at 14. Haven’t touched it until recently because I’ve been educating myself on investing and the long term game. I invested during March lows.

Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.

“Too many people spend money they haven't earned, to buy things they don't want, to impress people that they don't like.” ― Will Rogers

I know I have a large sum of inheritance coming my way when my grandparents pass, and my gameplan is the same as they discussed here. When i first learned about it many years ago i had no financial skills and I am glad I didn't get it then.

Helped my ex spend her $100,000 inheritance. We were young and dumb, her mom watched us walk for high school graduation and passed a week later. Retail therapy is terrible and money will NEVER buy you happiness. I have been there don't try to argue until you have spent $100,000 like I have contributed too. Act like it is not there and build a life for yourself before you do anything emotional. 5 years later I built a life for myself, asked for forgiveness, and learned the value of a dollar earned.

I applaud this young man on seeking wise counsel first.

Thats a reall good answer dave make your grand father proud

Kudos for him for seeking advice and guidance!! 👏🏾👏🏾👏🏾 Esp. at 19!!!

I would pay off my student loans - The rest, I would immediately lock into a 3-month GIC (I'm in Canadian, American's would do "money market"). This isn't a wealth-building option and I'd miss out on a bit of compounding but that's fine. Chris Hogan recommended this the other day and I entirely agree. If you have access to the money right away you'll likely blow it. I'd need to give my brain time to adjust so I could make wise decisions.

This is some great advice.

I know of a few people who absolutely blew inheritances !! Their parents were the tightest people on the planet . They did not follow suit .

This is some solid advice.

My recommendations: All he has to do is pay for the rest of his college debt free. When he graduates first find a job. Make sure you are at the job long term and have stable employment. (1 to 2 years). The 3rd year place a down payment on the home. Do not tell anyone about your money, make sure they get the sense that you only got money from working. Keep the money in savings and build retirement. I wouldn't splurge on anything after graduation. It can take some time to find a job you both like and will be stable at.

I have an opinion: only invest your money into things if you know how those things work. For example, if you don't know how the stock market works, don't invest your money there. If you do understand how it works, then go ahead. I don't think there's anything wrong with putting the money in a bank account or a CD and taking your time to learn how to invest. I also think it's OK if you don't invest all of your money in the stock market. Does anyone agree or disagree with that? I'm open to suggestions.

Same boat, inheriting a large sum from my grandpa who worked his whole life to make sure we'd be taken car of after he died, it's so much responsibility it's scary.

First rule about getting any monetary windfall. Keep your lips zipped.

Really good for him. Fair to say most 19 year olds would blow it.

My uncle was in this exact situation. He went to college but took out student loans so he’s taking out the max 10,000 a year to pay it. That’s all he used it for and keeps it in the stock account it was in

Kudos to Ramsey for giving away Ramsey+ to this student! This could have changed John's life forever

My man maxed out on CLEP, AP, and Dual Credit classes to be a junior at 19

What a great advice !!

Wow great advice!

This was good advice. My other thought is that if he needs money to live on while in school, put himself on an "allowance" where he gets a monthly transfer to his checking account and doesn't even see the "big money." This money is enough to be a great start in life, but not enough to live on ultimately. If he is working while in school, keep working (assuming he can handle work and school.).

This was EXACTLY me three years ago. Same age and amount of money. I spent some of it on education and the rest is in mutual funds until I am ready to buy a home in the next 2-3 years. Just pretend it doesn’t exist except for education or purchasing a home, you’ll be good.

My friend took 6 yrs to finish her bachelor's by paying cash at 19 there shoul be no rush. Glad that he have common to ask for advise.

Wow challenging experience but I hope they can learn from this so they can built it back up again

Great advice and also very helpful! Maybe I should have that in my next VIDS 👍

I agree the stock market is a very good way to make passive income. I have heard of several investors who were making more than $40k a month from the market. I'm ready to go into the market now, but I'm careful to not make a mistake. Or are there are safe bets?

One of the best Dave advises. Amount of wisdom and how he span this situation from purely mathematical and common sense (what Anthony said) and into a deeper psychological realm. Dam!

Great advice! Other big advice is: Don't tell people about it!! People can get uncomfortable or expect you to pay if you have way more money than them.

Put all 100k in an index fund. Make 8% on it. You will have 3.2 Million after 45 years. If you spend 20k of it on college, then it will only be 2.55 Million. That is $650,000 he is missing out. The student loans, as long as they are Stafford government loans, are 5.05%. Pay off the 20k in loans over 3 years with your new marketing job. That is the more profitable decision.

Lucky kid. Be thankful that you lucked into this money. Pay off your debt. Put $10,000 into savings. Put the rest into VTSAX.

The fact that this kid is asking this question shows good responsibility at his age.

I remember those times. Hard to see beyond 19. Hope he stays focused for at least ten years...’til that feeling of _______passes

1. Change your degree to finance, engineering or IT.. marketing is tough industry. They laid off so many people in marketing teams and the remaining don’t make decent money and are stressed! 2. Keep a 6 month emergency fund 3. Put the rest in VOO. Max out IRA. Don’t you touch until you retire. Then, when you get a job put in more as you go. You can easily be a multimillionaire like this. Compound interest is your bff. Congrats! 🎉

I wish you were around when I got a workers comp pay out. I was not 100% smart with the money. Invested nothing & I still kick myself over it.

He could finish school debt-free and set the rest on fire and will still be in a better position than 90% of people his age

When I got one I spent $50 on one of my best friends. That was it on other people. No one can force you to give it up without your permission. And money advice - I didn't do what DR would have done but that was okay. In the end I wound up in a WAY better financial place. But finding out your options is the best. But in the end make your own decision.

At the end of the call when Anthony makes a final comment about going ahead and buying something even like a five or $10,000 car Dave looks away to his left like didn't I just say to do nothing but pay off your college first and then go from there? And Dave made no comment supporting what Anthony said he just reiterated that it was a good question from the caller.

I went to HS with a girl who inherited a substantial amount from her GM her senior year. She lived with her dad only and immediately bought a new Nissan 240SX...she was dead within 4 years of graduation due to drugs and alcohol

Wow this question is extremely relatable. I inherited $96,000 at age 19. Now I am 21 years old, have no degree, and have $25,000+ in student loans. I spent $20k+ on a car. I also spent around $10k on personal computers (I got two custom built desktops, a $3000 Macbook Pro, a $1400 iPhone 10s Max, 2 pairs of headphones, airpods, and an apple watch.) I also got more expensive housing and unnecessary home goods such as a robot vacuum, expensive trash can, among other items. I probably spent a little over half of my inheritance on College expenses but the rest I just seem to have wasted. Plus student loans give the excess funds to your checking account making it seem like I can spend more money than I actually have. It really is no surprise to me that Americans struggle so badly with debt because no one teaches them about investing, paying off debt, living below your means, etc. In addition to the $25k+ in student loans I also have 4 credit cards with a total credit limit of around $30,000 so it is very easy for my spending to go out of wack and constantly be in debt. Plus most of the credit cards I own have a 20+% interest rate. I am more aware of what I have done now, but still make mistakes, and wish that I knew more about finances sooner.

You know.. Anthony was giving him solid advice.. Dave though... there is difference between arrogance and confidence. “Remain scared”, “Best program on money on the planet”, “don’t be stupid”.. I mean.. Dave has one mode and most of the time it’s not especially helpful. He should spend the same energy updating his material for his program.

He should find another way of paying off the student loan and place the 100k in a trust fund to invest later on in blue chip stocks or mutual funds. Treat the money like a windfall, pretending that it isn't there.

Once all debt is taken care of I feel it is important to find a good investment advisor that takes you seriously even if you only have a little money left to invest.

Out of sight out of mind. Lock it up and put a plan in place

Can you not join Ramsey+ if you live in Australia? Is it just a USA program?

Just don't be a simp. You will blow your money fast for next to nothing. NO SIMP SEPTEMBER.

I’ll put 50k in a SP500 index fund or in QQQ ETF, and pay school for with the rest.

Findca way to use it to acquire a high income skill, then you'll be making that 100,000 per year or half- year or month

how can I get those classes in similar situation

I read the title and thought *just don't spend it* hahah

I feel most of these type of calls will end up fine if you have 100k and you’re scared of it it won’t go anywhere

I wish I had that opportunity 😭

By not spending it invest and save for the future

This is exciting! This is perfect for my next VIDS

Go Anthony!

Huh, I was in the same position 10 years ago when my mom passed in 8th grade. Good thing I did what he said. I graduated debt free from college with 30k left in savings this year. Now idk what to do next besides growing my net worth! Maybe I should max out a Ross IRA each year?

The kid needs to read rich dad poor dad

Make sure to max out your Roth with that tax-free inheritance. No tax in; no tax out.

Probably the worst time to get an inheritance... For most its going to completely sap their motivation to work

Nice to see that not all trust fund babies are completely detached from the real world.

As a, 20 year old, father of 4 baby girls, I love you Dave

When I see Dave, I have to CLICK!!👆

Anthony was 100% on the money. Id also set aside 10k for car expenses and possible replacement and invest the rest.

Im 25 inherited over 400k at 18 and I only spent 50k living life .

Number 1 rule don’t spend if u don’t need to!

1. Pay off all your loans 2. Finish school debt free 3. Save a chunk for your emergency fund 4. Dump all the rest in the s&p 500 index 5. ????? 6. PROFIT!

If I had this money (19yr old here too) I would pay school off to be debt free,max out my Roth each year and match a 401k, put the rest in a high yield savings account

$100k in South Carolina. One lucky kid..

1. pay off 11k student loan; 2. 3-6 month emergency. 3. cash flow college 4. max out your retirement. 5 invest,

Makes me feel like a failure im almost 21 and no where near able to move out

I don’t think I would ever pass down that amount of money without first putting it into a trust

I would invest in a duplex rental property

INVEST IN YOUR SELF MY DEAR

Buy a 911 Turbo S. used of course. Dave would approve.

He needs a Escalade😉

Downpayment on a good house and put tenants in the house to owy it off. If he buys well it can pay off. Of course emergency fund comes first.

My guy said Washington DC

That audio cue! Oops! 😂

Ah yes, those old college simple days where 100k felt like power.

Get a job, work maybe 15-25 hours a week, and use that money first to cover debt & living expenses, anything else, then you use the $100k

Save it, don’t get married (unless prenup), live below your means.

Yeah $100,000 is a great amount of money to set you up very well, but it's also an amount easy blown on stupidity in the wrong hands! I mean if he took half and invested it for retirement, that's most of what you'd need to retire on right there over 4 and a half decades of compounded interest later.

I really enjoy all of your content, can’t wait till more! U inspired me to make my own channel about finance, stocks, business, real estate and more! I’m 13 with about $1700 in stocks

invest the 100k and dont touch it for 40 years and you could have 4.5m... sure 100k doesnt sound like much, but if he leaves it invested until retirement then his retirement is already funded.

invest your money in retirement accounts and don't touch it

Definitely good money, but like Dave said you could blow that easily with a couple nice cars. If it were me, I'd be taking cash dividends every month from it - roll it back in if you can, $400 - $500 a month is great passive income for basically zero work.

pay for college, 3 mouth emergency funds, invest the rest, and then start putting money form you job into your 401l and i 7 years if he add to it, he could have a HUGE down payment on a house, and money for retirement