How Should I Be Spending My Money Right Now?

Summary

Summary of "How Should I Be Spending My Money Right Now?"

Ramsey Everyday Millionaires - Episode Released August 13, 2025

Introduction

In this poignant episode of Ramsey Everyday Millionaires, the Ramsey Network hosts—Dave Ramsey, George Kamel, Ken Coleman, Rachel Cruze, Jade Warshaw, and Dr. John Delony—address a deeply personal and challenging call from a listener named Jay. The episode delves into the intersection of financial planning and life's unforeseen adversities, offering listeners valuable insights on prioritizing life and finances during critical times.

Jay's Situation

At the core of the episode is a heartfelt call from Jay, a 57-year-old individual who has recently been diagnosed with a rare and aggressive form of cancer. Jay shares his financial standing and personal struggles, setting the stage for a meaningful discussion on life priorities.

• Financial Status: Jay is on Baby Step Six of Dave Ramsey's financial plan, with his mortgage paid off, zero debt, and a net worth exceeding $2 million.
• Career and Passion: He has dedicated 28 years to a fulfilling job at a nonprofit organization, which he runs, finding immense satisfaction and purpose in his work.
• Health Crisis: After undergoing chemotherapy, major surgery, and radiation, Jay faces an uncertain prognosis. Doctors indicate a high likelihood of cancer recurrence within two years, leaving him with limited time to live.

Hosts' Response and Advice

Immediate Reactions

Upon hearing Jay's news, George Kamel expresses profound sympathy, acknowledging the gravity of Jay's situation (00:25-00:37). Dave Ramsey quickly assures Jay that his financial foundation is strong enough to support him in taking time off from work (02:35).

Prioritizing Quality of Life

George Kamel emphasizes the importance of living fully and creating meaningful experiences in the time Jay has left (03:00-04:22). He suggests:

• Taking Time Off: George recommends pausing work to focus on personal fulfillment and enjoying life while maintaining involvement in the nonprofit's mission (03:50-04:54).
• Creating a Bucket List: He encourages Jay to list and pursue activities and experiences he has always wanted to do (04:22-05:12).
• Embracing New Experiences: George highlights the value of trying new things, such as exploring Honolulu and potentially forming new relationships (04:25-04:48).

Dave Ramsey complements this by advising Jay to:

• Stay Financially Secure: Continue maintaining financial prudence while enjoying life's pleasures (06:11-06:40).
• Reflect on Regrets: Engage in practices like writing a personal eulogy to identify and act on unfulfilled dreams and important conversations (06:40-07:09).

Integrating Work and Passion

Recognizing the significance of Jay's role in the nonprofit, George Kamel suggests ensuring that the organization remains operational during Jay's absence, allowing him to stay connected while enjoying personal time (04:48-05:12).

Key Insights and Discussions

1. Balancing Financial Security with Life Enjoyment:

   • The hosts underscore that Jay's solid financial standing provides him the freedom to prioritize personal happiness without financial strain (02:35-02:37).

2. Living Without Regret:

   • Emphasizing the importance of living authentically, the hosts advocate for acting on one's passions and desires to avoid future regrets (06:40-07:09).

3. The Role of Purpose and Contribution:

   • Maintaining involvement in meaningful work can provide a sense of purpose and fulfillment, even during challenging times (05:38-06:11).

4. Mental and Emotional Well-being:

   • Creating and pursuing a bucket list not only enhances life's enjoyment but also contributes positively to mental and emotional health, potentially aiding in healing (03:50-04:22).

Notable Quotes with Attribution and Timestamps

• Jay (00:25): "I have a conundrum here. A part of me thinks that I love my job... and the part of me thinks that I should spend the rest of my time and money doing things that I enjoy."

• George Kamel (03:50): "If I were in your shoes, I would stop working for a season... focus on really enjoying your life because I actually believe that the more fulfilled you are, the happier you actually are."

• Dave Ramsey (06:11): "So you have our permission, Jay, to enjoy it... Keep your house in order and start making that list."

• George Kamel (07:34): "We're wishing and praying 20 more, 30 more years, man. But you know, I think of Matthew McConaughey says it better than anybody else."

• Dave Ramsey (07:52): "Live like no one else while you're at it."

Conclusion

This episode of Ramsey Everyday Millionaires poignantly illustrates the delicate balance between financial security and the pursuit of personal happiness, especially in the face of life-altering challenges. Through Jay's story, the hosts offer a compassionate roadmap for listeners to prioritize what truly matters—embracing life's moments, fulfilling passions, and maintaining financial stability. The conversation serves as a powerful reminder that while financial planning is crucial, the essence of a fulfilling life lies in the experiences and relationships we cultivate.

Final Thoughts

Jay's story is a testament to the importance of flexibility in financial planning and the significance of aligning one's financial strategies with personal values and life goals. The Ramsey Network's empathetic and holistic approach provides valuable lessons for listeners navigating their own financial and life decisions.

Transcript

[Caller Jay]

Foreign.

[Dave Ramsey]

This episode is brought to you by SmartVestor. Connect with an investing pro near you at RamseySolutions.com SmartVestor let's go to Honolulu.

[George Kamel]

Hawaii. You ever been to Honolulu?

[Dave Ramsey]

Never.

[George Kamel]

I would love an inuhe. It's a wonderful place. Waikiki. Fantastic. Let's go to Jay, who's hanging out there. Jay, how can we help?

[Caller Jay]

Well, tell. Thanks for taking my call. Gentlemen, I'm calling because I was recently diagnosed with a very rare and aggressive form of cancer. Oh, no.

[George Kamel]

So sorry.

[Caller Jay]

Yeah. And you know, I've been. I've worked. I'm on baby step six. Just got my mortgage left, no debt, net worth of little over $2 million. Worked very hard for a long time. 57 years old. And basically I have a conundrum here. A part of me thinks that I love my job. I have a great job that I've worked at for the last 28 years. And the part of me thinks that I should spend the rest of my time and money doing things that I enjoy and, you know, obviously my life probably. I had planned for many years for retirement and to have a good retirement, and it looks like that may not happen now. So I was just wondering your thoughts on someone in my situation. What is the priority?

[George Kamel]

Did you say you were 67?

[Caller Jay]

57.

[George Kamel]

Oh, 57. Oh, my goodness. Are they giving you some time? Are they giving you a timeline here?

[Caller Jay]

Well, so I had chemo. I went through all the treatments. Chemo and surge, major surgery and radiation. And realistically, they can't give me a time. But they said that, you know, the reoccurrence of this type of cancer is very common and it usually comes back within two years. So there's a chance, chance that I could take care of myself and live for a while. But there's also a chance that my life may not be more than a few more years long.

[George Kamel]

Do you have family?

[Caller Jay]

I do not. I have no parents are gone, no siblings. I have some distant cousins, spouse, kids. Nope, nope, no.

[Dave Ramsey]

So you can do what you want. You could flee the country and have a good time, and it doesn't affect anyone. And you've got enough to retire technically. Right. You could leave work today, never work a day in your life again and be totally fine.

[Caller Jay]

Absolutely, yes.

[George Kamel]

You know, George, I want you to weigh in. You know, I'm thinking for a half second, one more half second, I'm just.

[Dave Ramsey]

Trying to put myself in the shoes of what I was going through this.

[George Kamel]

That's what I'm doing. And Jay, one Of the things we always try to do within our principles and what we believe. We try to answer things the way, what would we do if we were in your shoes? And so I needed to pause because this has got some real gravity to it. If I were in your shoes, I would stop working for a season. I'm not going to tell you how long that is. I think that's up for you, but I think I would check out for a bit and go, what's going to happen over the next two years? I mean, you can only go with what the doctor tells you. And I don't want to live my life trying to avoid this bad diagnosis that may come. I want to actually live right. And if I'm you, I probably take some time off work knowing I can get back in it. You got plenty of money and I would focus on really enjoying your life because I actually believe that the more fulfilled you are, the happier you actually are. And that I think that gives you the best chance for healing. I believe the body's an amazing thing. None of us know how much time we have. But if I'm you, I'm probably going to do some things I've never done before. I'm probably creating a bucket list and I'm going to edit it. I'm going to give it some time, but I'm going to start now. I'm not saying you have to quit work tomorrow if you really enjoy it and it gives you a great sense of contribution. That's my whole jam. I'm a big believer in that. However, in your shoes, I'm going to go do some things, see some things, you know, maybe find you a fabulous lady in Honolulu who, she'll take a flyer on you. You know, I have one.

[Caller Jay]

Oh.

[George Kamel]

Hold on one second. I'm. Check that one off the list because I was like, man, I'm going to find me a lady if I'm you. Yeah, and I'm glad you got that.

[Dave Ramsey]

And what's her deal?

[Caller Jay]

She's very supportive and willing to travel. And, you know, the two things in my life that are most important is my work. I run a nonprofit here that helps people. Big nonprofit and travel are my two most joyful things.

[George Kamel]

All right, I'm going to change my advice. I. If you, if you run this non profit, just do you have somebody that can keep it going while you're out?

[Dave Ramsey]

If you took a month off?

[George Kamel]

All right, so I would stay involved with that because it's so missional. So I'm going to change my advice because that's so missional. I think that's important. But go, do things. Have some fun. See the sunsets. Do things you've never done. You know, I'm thinking that Tim McGraw song, live like you're dying, I think. Is that right? The audience is helping me.

[Dave Ramsey]

That's the one.

[George Kamel]

I mean, 4.7 seconds on a bull named Fu Manchu, I think it is. I don't know if I got that right. Like, I mean, I'm serious. Like, I. That's the play, man. And then if two years from now, or sooner this ugly thing comes back, then I'm sitting on my deathbed and. And I'm reminiscing, not regretting.

[Caller Jay]

Right.

[George Kamel]

That's. By the way, that's the. That's the. The talk I'm giving on the Ramsey cruise.

[Dave Ramsey]

Oh, looking forward to that.

[George Kamel]

I. I want people to live a life like Davis said, forever. Live like no one else so that later you can live and give like no one else. And I. And I think this idea of. Of getting to the end of your journey, whatever it is. 57, 67, 77, whatever. I want to be able to look back in those final days if it. If it happens that way for me. And I want to go, man, I didn't let this disease take me out in a negative way. I went out on a bull named Fu Manchu or whatever it is. George.

[Dave Ramsey]

Well, the interesting, you know, the later part. And so later you can live like no one else. It's not promised. And so I think it's wise to look at this. You're in a good spot. You're not doing anything irresponsible. So don't hear all the listeners. Don't hear me say yolo. George said, but, you know, you don't need to drain your accounts and act like a lottery winner on a Vegas bender. But you've done really well. Keep your house in order and start making that list. What are the experiences you've been putting off? What are the things that, if you were on your deathbed, you'd say, man, I regret not having that conversation?

[George Kamel]

No regrets.

[Dave Ramsey]

Not buying that thing. Doing the thing. And a great principle I heard Donald Miller talk about this is he writes. He wrote his own eulogy, and he reads it every morning.

[George Kamel]

Yeah.

[Dave Ramsey]

And it's a great way to center yourself. You can check it out. He's done on a lot of interviews, talked about this process. Yeah, it's powerful, but it's a beautiful thing to do. Similar to Ken's idea of going, what are the things I'D look back on with regret. And it's not always a place you went to or a thing you bought. It might be a conversation. It might be I got to call this person and say, I'm sorry or I forgive you.

[Caller Jay]

Right.

[Dave Ramsey]

And so I think that's a powerful thing to do. And then money can be a tool as a part of exploring those dreams.

[George Kamel]

Yeah.

[Dave Ramsey]

So you have our permission, Jay, to enjoy it. But here's the deal. You have to send us photos.

[George Kamel]

Oh, I love that.

[Caller Jay]

Okay.

[Dave Ramsey]

Of the experience, the trip, whatever it is. We'd love to keep up with your journey. And, man, we're praying for miracles here. I know a lot of listeners are as well. I hope you call us back years from now and say, hey, that's right. Still here, baby.

[George Kamel]

Jay, we're wishing and praying 20 more, 30 more years, man. But you know, I think of Matthew McConaughey says it better than anybody else. I had the privilege of interviewing him years ago. Just keep on living and you know, that's good while you're alive. Live, for heaven's sakes.

[Dave Ramsey]

And, man, live like no one else while you're at it.

[George Kamel]

And by the way, this is why we say to live like no one else so that you can live like no one else. Because if I get that diagnosis, baby, we're going on a crazy. We're going on a tour, baby.

[Dave Ramsey]

No debt to worry about here.

[George Kamel]

It's going to be the fun tour, you know, I love that.

[Dave Ramsey]

Thanks for tuning in to Ramsey. Everyday millionaires need help with your investments? Connect with a smartvestor [e-mail] smartvestor or click the link in the show notes. Ramsey Solutions is a paid non client promoter of participating pros. Learn [e-mail] SmartVestor.