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Full Episode
Live from the headquarters of Ramsey Solutions, it's the Ramsey Show, where we help people build wealth, do work that they love, and create actual, amazing relationships. Number one best-selling author, Rachel Cruz, Ramsey personality, co-host of the Smart Money Happy Hour, is my co-host today, my daughter. Open phones at 888-825-5225. Carol is with us. Carol is in New York City. Hi, Carol.
Welcome to The Ramsey Show.
Hello. Thank you so much for taking my call. It's a thrill to talk to you all.
You too. What's up?
I have a husband who's retiring within the next 12 months. and we'd like to finish paying off the mortgage on the house. Good. Yes, per your advice. And our financial advisor is advising us not to because the mortgage is at under 3%, and our investments are doing well above that. However, that doesn't matter to us. We want to plow ahead and get this done.
And our next question to him is, how can we best divest of our investments and pull the money out, make the cash available to do this? And his next tier of advice is to pull from our bonds that are earning at tax-free rates as opposed to pulling from our mutual funds that we'll have to pay capital gains taxes on. What do you suggest we do?
You probably got no gain on your bonds. Their probably value is down even though the coupon rate stayed the same. But as interest rates rise, bond values go down. And so my guess is that you bought them during a lower interest rate environment, so they're probably not even worth what you paid for them today. Is that right?
I'm not sure. That's a good question.
I don't think you're gonna have any gain to amount to anything. So I like his advice on that basis.
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