How Can I Invest My Money Wisely?

Summary

Podcast Summary

Podcast: Ramsey Everyday Millionaires
Episode: How Can I Invest My Money Wisely?
Date: August 18, 2025
Hosts: Dave Ramsey, Dr. John Delony (inferred from tone and style)

---

Episode Overview

This episode focuses on smart, practical steps for investing—particularly for people who have always prioritized saving and are now ready to move from "saver" to "investor." The discussion features a live call from John in Monterey, CA, who shares his financial situation and concerns about investing, sparking insights and encouragement from the Ramsey team. The hosts reinforce the importance of intentional investing while living a balanced, enjoyable life.

---

Key Discussion Points & Insights

1. John’s Financial Background and Questions (00:16–03:00)

• John, a disciplined saver from California, calls in to get feedback and direction on his investment path.
• He’s on the verge of paying off his house after making a strong down payment and years of consistent savings.
• Financial snapshot:
  • $115k in a high-yield savings account
  • $85k in an old employer’s 401(k) (cannot currently roll it over)
  • $12k in a Roth IRA, with plans to contribute an additional $7k this year
  • Earns $68k annually, contributing 15% to his new Roth 401(k)

2. Fear and Hesitation Around Investing (02:53–04:16)

• John expresses anxiety about moving money from savings to investments, explaining that saving feels safer because of his upbringing and lack of early financial education.
• He admits there’s no specific goal for the large amount in his savings account; the money is a "safety blanket."

Notable Quote

“I've always been a very anxious investor and always a saver. Like, I didn't go just, what if it all goes down?”
—John [03:00]

3. Validation for Savers, Transition to Investing (04:04–04:24)

• The hosts express admiration for John’s habits, emphasizing the rarity and value of disciplined saving.

• Dr. John Delony notes:

  Notable Quote

  “You have figured this stuff out intuitively. We laugh sometimes because it's like we sell common sense—that's what built this... And what you're doing doesn't get views on TikTok. When they're like, 'how'd you do it?' You're like, 'I just saved money every month.'”
  —Dr. John Delony [03:59-04:04]

• The team highlights John’s impressive position, reminding listeners that most Americans don’t have anywhere near his liquidity.

Notable Quote

“You're in the 0.001%.”
—Host [04:14]

4. Next Steps: Clear Investment Goals and Enjoying Life (04:24–04:45)

• After affirming John, the hosts recommend:
  • Keep a 6-month emergency fund, but use excess high-yield savings strategically: pay off the house early, increase investments.
  • Set measurable goals: try to max out both the 401(k) and Roth IRA.
  • Maintain balance: don’t become too fixated on saving/investing to the detriment of living well or giving generously.

Notable Quote

“Remember not to have a flat tire. Investing and savings, great. I think you're on the path to be a multimillionaire. But don't forget to also enjoy life. Spend some of it, give a lot of it. That helps you avoid that flat tire.”
—Host [04:24]

5. Resources and Acknowledgement (04:45–end)

• John is offered Ramsey’s investing guide for further clarity and confidence.

---

Notable Quotes & Memorable Moments

• On being a disciplined saver:
  “I've always been a saver my whole life and that's what's put me in decent shape. But I'm kind of nervous on what next step to go.”
  —John [00:21]

• On the myth of luck in wealth-building:
  “We can all agree luck had very little to do with it. John showed up every day and put money into that account. Worked his tail off.”
  —Host [01:08]

• On representing financial outliers in America:
  “You know how many Americans don't have $100 in the bank? Millions and millions and millions and millions and millions of them.”
  —Dr. John Delony [04:04]

• On holistic wealth:
  “Investing and savings. Great. I think you're on the path to be a multimillionaire. But don't forget to also enjoy life. Spend some of it, give a lot of it.”
  —Host [04:24]

---

Key Timestamps

• [00:16] — John introduces his background & savings habits
• [01:08] — Hosts highlight discipline over luck
• [02:53] — John’s anxiety about investing & saver's safety net
• [03:47] — Hosts validate John’s instincts and financial habits
• [04:24] — Action steps: emergency fund, pay off house, increase investment, enjoy life
• [04:45] — Guide offered to John for next steps

---

Summary Takeaways

• Ordinary, disciplined habits—like consistent saving and avoiding debt—can lead to extraordinary financial outcomes.
• Transitioning from a saver to a confident investor is as much about setting goals and strategy as it is about overcoming financial anxiety.
• Once the basics (emergency fund, no debt) are covered, prioritize maximizing retirement contributions and investing surplus savings.
• Wealth isn’t just about numbers; it’s also about enjoying life and giving back.
• The Ramsey Network provides resources and encouragement to help listeners make these practical shifts.

---

For more detailed guidance, visit ramseysolutions.com/guide as recommended in the episode.

Transcript

[A]

This episode is brought to you by Smartvestor Connect with an investing pro near you at Ramseysolutions.com Smartvestor John is up next in Monterey, California. What's going on, John?

[B]

Hey, guys. Really appreciate you having me on.

[A]

Absolutely. How can John and I help?

[B]

Well, I just want to get kind of a scope of how on track I am. I have a feeling I'm doing pretty good. The problem is that I'm just a really nervous investor, like sending my money out. I've always been a saver my whole life and that's what's put in a decent shape. But I'm kind of nervous on what next step to go and I'd like to give you some of my numbers and then you could help. Hopefully you guys can help me on my next step. All right, so I'm about to pay off my house. I only have a few more payments in the next couple of months.

[A]

Way to go after in California.

[B]

Nonetheless, you know, I was really lucky again, saving all my life. I was able to make a 26% down payment and just tackle that right away.

[A]

We can all agree luck had very little to do with it. John showed up every day and put money into that account. Worked his tail off.

[B]

Yeah, yeah, for sure. But, you know, I also bought it in 2014 when the market was very low anyways, so I have about 115k in high yield savings. I have an old employer's 401k that's around 85. I can't contribute into that anymore. But it's just kind of building on its own because at the moment, I cannot roll it into my new jobs 401k just yet.

[A]

Okay.

[B]

I have a Roth IRA with 12,000. I'm going to put an extra seven this year and I make about 68,000 right now. So same on the verge that, you know, I have a high savings. I have a 401k that I'm contributing to my new 401k. I'm putting in 15 as well.

[A]

Good. Is it a Roth 401k?

[B]

I believe so. I'd have to. I'd have to look it up.

[A]

Okay. But I check on that. If they have a Roth option, I would do all 15% there.

[B]

Yeah. So this, the way it works is that I actually. It's a split contribution. So I was able to put it, my person, my 15% into a Roth and then my boss's match goes into a traditional.

[A]

Yep. Yeah, that makes sense.

[B]

Yes, it is. I just looked it up. It is going into a Roth. Good.

[A]

Okay. And you make 68K. You've got a lot of good things going on. The question is, why do you have so much in that High Yield savings account? What's the goal with that money?

[B]

There's no goal. As I said, I've always been a very anxious investor and always a saver. Like, I didn't go just, what if.

[A]

It all goes down? John Deloney can relate.

[C]

Ayo.

[B]

Yeah. Hey, but there's.

[A]

I wouldn't, I would say you're not off the path here. I mean, if your question is, am I doing the right things, what should I improve on? I think you're spot on investing. I would just want to have a goal for that high yield money other than an emergency fund, maybe invest that money.

[B]

Well, that's really where my question is going, is kind of a direction on how to invest. I didn't come up with a lot of money like so many more of us listeners. And so I didn't really have those lessons. So that's why I have such a high yield savings account, because it's always been like a safety blanket for me. Sure. And letting go of it is very difficult. Like so many of us.

[C]

Hey, can I just tell you though, dude, you're amazing.

[B]

Yeah, I appreciate that.

[C]

Like, you have figured this stuff out intuitively. We laugh sometimes because it's like we sell common sense. That's what built this. This Dave Ramsey's like, humongous empire is.

[A]

And what you're doing doesn't get views on Tick Tock. When they're like, how'd you do it? You're like, I just saved money every month.

[C]

I make 65 grand and I'm a millionaire and I've got 115 grand in the bank. You know how many Americans don't have $100 in the bank? Millions and millions and millions and millions and millions of them.

[A]

You're in the 0.001%.

[C]

So just like, no, you've got some things to learn. Cool. We all do. But you are amazing, dude. And it's an honor to talk to you, brother. It's really cool.

[A]

So beyond your six month emergency fund, in that High Yield Savings, I would use that money to pay down your house early and then you can invest even more than 15%. So I would have a goal. Hey, what if I can max out my 401k this year? What if I can also max out a Roth ira? And then on top of that, remember not to have a flat tire. Investing and savings. Great. I think you're on the path to be a multimillionaire. But don't forget to also enjoy life. Spend some of it, give a lot of it. That helps you avoid that flat tire. But it's a great question. I'm going to send you our investing guide. Go to ramseysolutions.comguide our team created a very thorough but easy to understand guide that I think will give you some confidence. John, thanks for the call.