Dave Ramsey
👤 SpeakerAppearances Over Time
Podcast Appearances
Number one, you're right.
When you're in a no income, low income portion of retirement and a huge net worth, that rule does not apply.
The half of your income in boats and motors or motors and wheels, that rule does not apply.
So if you're worth $10 million and all of your investment income is rolled back into your investments and you don't count that income in the equation and –
So you're living on a $70,000 pension or something, but you're worth $10 million.
Then we don't apply that formula, okay?
But if you take all of your net worth and use the income off of your net worth, the formula would probably work.
But we don't have to do that.
How much is the boat?
Okay, and you have $4 million.
So it's 10% of your net worth.
And what is your income?
And you're retired.
And what is your income?
Yes, I would buy that boat.