During an episode of “The Ramsey Show,” a caller sought advice from radio host Dave Ramsey regarding a complex financial situation involving her mother-in-law.
What Happened: On the July 12 episode of The Ramsey Show, a woman named Sarah called in seeking advice on a real estate plan involving her husband's family—and a $1 million debt.
Sarah, who was expecting her first child, explained that she and her husband rent a home in Los Angeles, where her mother-in-law also lives. Her husband's grandmother offered to buy the family a house, but in Sarah and her husband's names, to prevent the IRS from seizing it due to her mother-in-law's unpaid debt.
"She has a lot of unpaid debts," Sarah said. "So grandma is trying to take care of her by providing a home."
Ramsey's response was blunt: "I would not do this," he said. "The whole reason to do this is to deceive… Your grandmother-in-law is teaming up with her daughter and using you guys to deceive the people that she owes. This is deception, and I'm not going to participate in that."
Ramsey added that Sarah's mother-in-law, who is 55, should take responsibility and work to regain independence. "She needs to go stand on her own and have what’s known as a life, not hiding at her son's house from reality," he said.
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Why It Matters: Ramsey is a well-known financial advisor and radio host who has helped many individuals achieve financial stability. However, his advice has also been the subject of controversy, with some individuals experiencing financial setbacks after following his guidance.
Earlier on the show, a couple who had previously been debt-free shared their story of still accumulating $46,000 in credit card debt despite following Ramsey’s advice.
On the other hand, a 50-year-old Redditor shared their story of managing to achieve financial freedom by following Ramsey’s advice, paying off their $146,000 debt, and becoming debt-free.
Ramsey has also said that living in debt and financial stress has become the norm for many Americans, but it doesn't have to be. He argues that this "normal" way of life isn't working, and people need a better plan.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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