The Ramsey Show – Detailed Summary
Episode Date: November 21, 2025
Episode Title: “My Financial Advisor Told Us To Take Out A HELOC For A Tax Write-Off”
Hosts: Ken Coleman & Rachel Cruze (Ramsey Network)
OVERVIEW
This episode of The Ramsey Show features Ken Coleman and Rachel Cruze offering practical, values-driven financial advice to callers facing a range of money dilemmas. The major theme: Don’t let outside “experts” convince you to take on unnecessary debt or make complex financial maneuvers that contradict your core values and peace of mind. The hosts champion the Ramsey approach—cash-flowing expenses, avoiding debt, and keeping financial decisions simple and value-aligned. The show covers case studies from soon-to-be retirees, struggling young families, entrepreneurs, parents, and more, delivering relatable coaching on debt, investments, career moves, and teaching children responsibility.
MAJOR CALLS & KEY DISCUSSION POINTS
1. Retiree HELOC Dilemma: Should You Borrow for a Home Addition?
Caller: Dan from Grand Rapids
Segment: [00:42]–[07:36]
Dan’s Situation:
- About to retire, wife’s last workday is tomorrow.
- Wants to add onto their home ($100k–$120k project).
- Financial advisor pushes a HELOC/home equity loan, citing:
- Lower interest vs. investment returns
- Tax write-off benefits
- Lowering tax bracket/tax bill by not withdrawing from 401k
- Dan’s plan: Pay cash from savings/403b (retirement funds). Feeling uneasy about going into debt after 40 years of hard work getting OUT of debt.
Ramsey Team’s Advice:
- Rachel: Values matter more than “math games.” “Some financial advisors are so stupid. They don’t even think about your values and what you want out of life. And clearly living a debt-free life has a price tag for you…”
- Ken: “We hate his suggestion. We hate it.” Emphasizes emotional relief over marginal, hypothetical tax savings.
- Consensus: Pay cash for the addition, do not get a HELOC.
Quote:
“Your body, your heart, your head…if I can put this addition on and I’m paying cash for my grandkids to be there…that’s worth more than any chart your advisor can draw.”
—Ken Coleman [06:31]
2. Teaching Kids Responsibility: When Children Break Expensive Stuff
Caller: Julia from Baltimore
Segment: [10:19]–[19:47]
Julia’s Situation:
- 10-year-old son broke a $400 window (disobeying repeated warnings), plus a thousand-dollar glass table (pushed on it despite repeated warnings).
- Unsure how much to make him pay back.
Ramsey Team’s Advice:
- Ken: Advocates for real consequences—kids should pay for all of the window break if it resulted from disobedience; partial pay for the table.
- Rachel: More grace-oriented, especially if not intentional (“not all disobedience is the same as being destructive on purpose”). Still, some financial consequence is needed.
Quote:
“I love the idea of making him go do real work, by the way. Not like chores around the house that you pay for. No, he’s got to go get a lawnmower out or whatever...”
—Ken Coleman [14:46]
Memorable Moment:
- Rachel’s mixed feelings as a mother of young boys; Ken’s nostalgic stories about his own childhood mishaps (“All little boys’ brains are on fire…”).
3. Overwhelmed Young Family: Escaping the Debt Spiral
Caller: Valentina from NYC
Segment: [21:57]–[31:10]
Situation:
- Family grew from 2 to 7 in 5 years.
- Income: $240k pre-tax, $162k after-tax
- Huge debts: $98k credit cards, $28k personal loan, $132k student loans, $43k 401k loan. Mortgage for their home + a second property at $4.5k and $1.2k/mo respectively.
- Negative cash flow every month.
Ramsey Team’s Advice:
- Must sell second property and drastically cut expenses (even “good” expenses like private school, family remittances).
- Immediate budget intervention needed (offered a Ramsey coach + free EveryDollar access).
- Rachel: “There has to be some changes, some significant changes. If there’s not, you guys will keep in the cycle of where you’ve been…”
4. School Loan for Ministry Degree?
Caller: Antwan from Austin
Segment: [32:41]–[39:51]
Situation:
- 18, wants to go to a ministry/theology school ($2,000/semester, online), but parents are pushing for a local, cheaper school he doesn’t feel called to.
- They’ll stop helping if he chooses ministry.
Ramsey Team’s Advice:
- If called to ministry, find a way to cash-flow the cheap tuition, don’t take out even small debt.
- Honor parents, but don’t let their fear dictate your calling.
- Ken: “Honor your parents, but you don’t have to do what they say. Now. There’s a tension there…”
5. Should We Use a 529 For Our Own Career Emergencies?
Caller: Trent from Tulsa
Segment: [39:51]–[42:18]
Situation:
- Only debt left is smallish mortgage (done next year). Want to super-fund a 529 partly in case they need to pivot careers.
Advice:
- Fine to fund 529 for daughter’s education.
- Do not over-fund for adult “just in case” use; upskilling in tech/etc. is usually handled outside of traditional school.
- Rachel: “I would just cash flow your wives [sic], set your daughter up for the 529…”
6. Late Starter: Can I Ever Own a Home or Retire?
Caller: Antoinette from Fort Worth
Segment: [44:25]–[52:27]
Situation:
- 61, truck driver, no retirement, about $8k in debt, no down payment, large car loan (recent purchase, unclear on balances).
- Wonders if it’s “stupid” to attempt first-time homeownership.
Ramsey Team’s Advice:
- Homeownership must wait.
- Main focus: know numbers exactly, sell the expensive minivan—even if it means buying a $2,000 “beater.”
- Get out of debt and start investing for retirement—small steps, every dollar matters.
Quote:
“The excuse that ‘I am bad with numbers’ can’t be an excuse anymore, OK? You are an adult, you are smart, and capable, and we have to get this under control.”
—Rachel Cruze [48:51]
7. Sudden Windfall: Selling Part of the Family Business
Caller: Nicole from Greenville, SC
Segment: [57:56]–[64:08]
Situation:
- Husband is selling just under 50% of a business for $6M.
- Overwhelmed, wants to avoid “lottery mentality,” make wise decisions for their family, and avoid spoiling children.
Advice:
- Slow down, get tax advice, and don’t make any big changes immediately (except prepping for taxes).
- Pay any remaining debt, plan for giving and long-term investing, but keep family routines and expectations stable for kids.
- Rachel: “Money magnifies who you are...The way you guys have dealt with money before, this $6M—it’s going to be amplified.”
8. Other Notable Calls
- Career switching, business debt, how to pay off student loans, and adult children’s work arrangements—all addressed with Ramsey’s signature blend of practical math and tough love.
- Notable Baby Steps Millionaire Interview (“Stephen from Minnesota,” 72, net worth $4.7M): Humility, hard work, and communication with spouse were his keys—despite a long, winding path and “a 2.0 GPA and 17.5 years for a degree.”
NOTABLE QUOTES & MEMORABLE MOMENTS
- “We hate his suggestion. We hate it.” – Ken Coleman on the HELOC advice [04:53]
- “Sometimes financial advisors are so stupid…” – Rachel Cruze [04:08]
- “Trust your gut, Dan. There’s a whole bunch of science on this, that trusting the gut is not this mysterious thing…” – Ken Coleman [08:16]
- “You’re not going to learn the lesson unless you feel a little something…” – Rachel Cruze on kids breaking windows [19:21]
- “If you cash out this IRA, nothing in your life has to change. You’re just plugging in money and fixing your problems. And you’re unplugging something that actually is going to go up in value.” – Rachel Cruze [121:41]
TIMESTAMPS FOR KEY SEGMENTS
- [00:42] – Retiree HELOC Dilemma (Dan)
- [10:19] – Kids Breaking Expensive Stuff (Julia)
- [21:57] – Drowning in Debt Young Family (Valentina)
- [32:41] – School Loan for Ministry Degree? (Antwan)
- [39:51] – 529 for Career Emergencies? (Trent)
- [44:25] – 61 and Starting Over (Antoinette)
- [57:56] – $6 Million Business Windfall (Nicole)
- [106:23] – Baby Steps Millionaire Interview (Stephen)
TONE & STYLE
- Supportive, Direct & No-Nonsense: Both hosts offer warm encouragement but firmly push back against excuses, fuzzy thinking, and “easy button” debt schemes.
- Humorous & Relatable: Frequent jokes about family life, their own childhood trouble, and the unpredictability of parenting and adulthood.
- Action-Oriented: Practical steps always prioritized; every caller leaves with a clear “what to do next” plan.
STRUCTURE & FLOW
The show alternates between calls about complex financial decisions (retirement, debt, business growth) and everyday family or career situations—demonstrating Ramsey methods apply at any income or life stage. Notable is the repeated distillation of every big financial question down to simplicity: “Know your numbers. Trust your gut. Stick to your values. Don’t go into debt.”
RECOMMENDATIONS TO LISTENERS (RAMSEY-STYLE)
- If it feels wrong, it probably is—don’t let “experts” talk you out of your financial peace.
- Don’t overcomplicate your financial plan. The simple answer (“pay cash,” “budget tightly,” “work more, spend less for a season”) is almost always the right answer.
- Model financial values to your children—let them feel the consequences of their choices.
- Massive life transition (windfalls, retirement, career change): pause, breathe, get wise counsel, and don’t let urgency lead to regret.
- You’re never too old—or too young—to start making wise choices. Get clear, and get after it.
FINAL TAKEAWAY
Whether you’re facing a massive windfall, a mountain of debt, or just the everyday mess of life and money, you win not by chasing every trick or hack, but by focusing on what you can control—your habits, your values, and the next right step.
For tools, budgeting apps, and a free consultation with a Ramsey-endorsed coach, visit www.ramseysolutions.com.