I'm 17 and Getting $3,500,000 Next Week! 

Don’t tell your friends. Definitely don’t tell girls. I wouldn’t even tell anyone

This kid made the right choice in calling. He should be just fine.

The fact that he’s reaching out to Ramsey and wants to do what makes sense. That is awesome!

I can feel the worry in their voices over this. Putting 3.5 in the hands of an 18 year old is very dangerous if the right people are not around them. There are exceptions but I know I was an idiot at 18. Thought I knew a lot but I didn’t lol. I really hope things go well.

They handled this call so well! College, a car, and time. That's all this kid needs right now

First thing. Don't tell or show anybody that you have money.

90% of 17 year olds can’t manage that kind of wealth well, especially when they didn’t create it, but he’s ahead of the pack if he’s calling Dave before it’s even in his hands.

Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.

If Alex is reading this, they elude to this but I’m going to say it straight out. DON’T ADVERTISE YOUR WEALTH!! And the few people that will know, treat that relationship with a degree of caution. My mom and I came into money through a lawsuit when I was young and the second the cheque cleared, a mutual fund salesman (who had sold my parents mutual funds in the past) that I hadn’t seen in years was all of the sudden calling the house every day and taking my mom out to dinner, dates etc. It was really hard to do, but I had to level with my mom and tell her, “he’s not into you, he’s only after your money”.

The kid mentioned medical issues, so he may need to reserve some of it for any future health problems. It is really hard to know since he did not give details. I hope things work out well for him.

*The best word Alex can learn how to say is "NO".*

He needs to make sure he doesn't tell anyone except the people he trusts most. And he especially needs make sure no girls know how much he has. The wrong girls will find him and throw themselves at him.

I would literally be set for the rest of my life

I inherited a similar amount when my mum past away when I was 18. The best thing I did was live drastically below my means. After spending a bit on a nice meal 🥘 and I got myself the full box set of Pokémon dvds 📀 I’m now 27, my net worth is up several million and I’m very happy with my choices. Something else that helped was I got myself a fulltime job and tried to mostly live off what I make on that. Keeps you grounded. I didn’t have many people come out of the woodwork as when it started to happen I shut it down. This bloke will be perfectly fine if he is smart about it :)

Alex I hope this is a blessing and not a curse. Good luck on your journey!

For y’all saying don’t tell anyone, he is probably still in high school and an athlete. Guaranteed he’s told at least 2-3 people who then told more and so on so gg

Bless his heart for calling in on the Dave Ramsey Show

Alex, PLEASE listen to these folks on the Ramsey team. PLEASE.

The fact that he called for advice on this tells me he is a smart kid. I believe he can do it. Im rooting for you Alex. Just try and forget the moneys there, keep saving what you can and keep going about life as if it’s not even there. Your 36 year old self will cry thanking you… you got this bro. Congratulations !

I had a elderly senior citizen tell me she had a bad experience with Ramsey's smart vestor, realtor, etc.. Be careful who you work with.

These guys handled this perfectly and gave great advice.

I love that all Ramsey hosts/personalities help callers from a position of love and warmth.

You're young and hustling, this is very inspirational.

“Way ahead of the game” dude he already beat the game!!!!!!

WOW!! Beware of financial advisors. They will be salivating to get their hands on this. Also, keep this circumstance to yourself and be picky about who you tell. People change when it comes to money - often for the worse - and it might create nonstop interpersonal problems with the inability to trust people in your life and their motivations. Good advice on getting a good attorney to help set up legal parameters and guidance. You have assets now so you can be sued as well so maybe come at it from that angle.

This is going to be my opener for my finance unit! A class of 14/15 year olds, looking at part time jobs and starting thinking about university. I want help set them on the right path to wealth in the future, BEFORE they get set in their ways of making bad money habits.

Don't tell anyone ever, invest 80%+ in S&P 500 index funds, do some travel and reconnaissance to find out where you want to live, buy a modest house there, live on 1-2% of the money annually, and pursue hobbies and entrepreneurship. You won't ever have to have a job.

If I had 3.5 at 18. I'd invest some and spend the rest of my life mowing lawns for the elderly and volunteering my time wherever I please.

Couple important general advice in situation like this: 1. Learn to say no, and learn to do that to anyone, including family including crying sad, angry, blackmailing threatening people, in fact especially any of those. 2. Understand that just because you can afford something does not mean you need that something or that it is worth the price. 3. If you are not sure about buying something there is high chance you don't need/want it. At the very least wait a few days or week. If you keep thinking and investigating and wanting the thing still a week later you still might no need it but at least wanting it is more than momentary impulse. 4. Remember that you having something does not mean that you owe anything to anyone or that anyone else is entitled to any part of that something. Where your money goes should be your choice, preferrably one made by your initiative. 5. If anyone gives you any advice where you following that advice would benefit them, you should not blindly consider that advice honest let alone correct. 6. Sometimes and especially in situation like this not doing anything is often better than rushing into anything too quickly or because you feel like you need to. Though the video basically already covered this basic idea. Also you should be more open to following advice of people who tell you to not spend on, give to or do something than people telling you to spend, give or do something. Related to this reread point 5. 7. Always read the contract including small print an preferrably have lawyer who is on your side to read it if any significant money or long contract text is involved.

This was amazing! I hope he takes this advice to heart.

Do not buy fancy cars. Pay cash for a piece of property, leave the rest in mutual funds for 40 years and take out 4% a year. Congrats, kid! You're set for life!

This guy could live off the interest profits even taking inflation into account.

He literally can live with just gains in the S&P.

Absolutely get an attorney on this one to ensure the money is properly protected. This is definitely a situation where setting up a living trust is a good idea. Other professionals to include are a CPA, financial planner, financial coach, and personal mentor. All of these people work in tandem in different lanes to help handle it in a holistic way. At 17, this can be either the best or the worst thing ever to happen to him. He's got to decide which it will be, and a good team of counsel on his side will help him make good decisions.

Alex I’ll help you manage your money. I wanna be your BEST friend

Honestly, go to a college, pay it cash, forget you even have this money. Split 50/50, put 50 into long term investments 50 into divends to live off of. Get a good job you love and live modestly. Get a prenup no matter how much you think you don’t need it. Don’t tell a soul about the money, live your life pretty dang good.

Asking a 17 year old if their parents are trust worthy? Isn't an easy question. My Dad was manic bipolar. He wasn't trustworthy with my money. I didn't know that at 17.

What a blessing... as a young kid I wanted to be professional pilot. (Airlines, corporate aviation, ect. ect.) I didn't realize how expensive flight training was and at 18 I got way into debt and couldn't finish the training. 10 years later I joined the Air Force and now I'm using the G.I. Bill to help pay for flight training. I hope this guy uses the money wisely and invest a lot of it for his future. 3.5 mil can be gone FAST if you don't handle it right.

Its a blessing and it could also be a poison. Props for this kid making this call.

He said there was some medical incident that caused the trust fund (presumably from some law suit). I'd be curious if there are any recurring medical (or other) bills related to that down the road that need to be accounted for... and how that affects the answer.

Such a relatable call

Great advice from great men!

The problem with buying a home at a young age is you dont know where you going to settle down, you have to try a few places to see where you want to live, it takes time. Buying a house will tie you to a single location!

Don’t tell ANYBODY

Amazed there were no questions from the experts about any ongoing medical needs as this was seemingly from a medical settlement.

Good luck Alex 👍🏽

Avoid debt. Cut cost. I realized that the secret to wealth is saving for a better investment. I always tell myself you don't need that new car yet and that mindset helps me make more money investing. I have purchased growth stocks this past few weeks. I'm going to sit back and observe how this plays out, adding more at a time. My investment strategy with my F.A Rita Wildrin Mora gives me the best returns. Its been a year of steady growth.

Good advice was given.

He also has to keep in mind that if this money is a medical settlement, insurance will never pay for anything related to the medical settlement issue.

Dave Ramsey would have been masterful on this call.

The fact he called in to ask about what to do is more than most teenagers would ever be with this kind of cash.

Besides the smart vesterpro suggestion he should be given the book Boundaries!

Congratulations 🎉👏 So Gratefull for him. Think and Plan, Say no to People u can't save everyone u can help some not all.

Put it in all diversified index funds with a total portfolio dividend yield of 4%... that's 120+k that will keep increasing every year until you die. NEVER touch the principal or sell shares, only use the distributions. By the time you're 30 the distributions will be over 200k and by the end of your life probably 7 figures in dividends annually. None of this buy a car or house in cash bullshit. You never spend a dime of the initial principle. Use the cash flow for living expenses and reinvest as much of the dividends as possible.

Wow that’s awesome for him!!

Hey, long lost cousin Alex!! Long time no see!!

The look on George's face when the kid said 3.5 million was absolutely priceless.

The kid has a good head on his shoulders in that he is being cautious and seeking advice vs what many people his age might do and blow through the money in just a few years. Very wise of him!

I wish I would have bought a house at 18/19. I wish someone would have suggested it and I wish it was known how I could do it. I thought it was something I couldnt afford. Flash forward to 27 I buy a house, but now I am 10 years late on affordable houses. Even if he is going to be smart and not spend the money, why not have an asset right out the gate. Also I personally think learning a trade or two is the best option. Learning a skill is far better than a fancy piece of paper with a degree. I think our world tells us that.

JUST WORK HARD BRO! Pull YOURSELF UP BY UR BOOTSTRAPS BRO!

I think college is a bad move, unless he’s passionate about a career that it’s necessary for. The reason for college is to make more money. $3.5M is $50k per year for 70 years. Invest that money and it goes further. I’d say get a part time job just for fun and live frugally. No stress life.

I'd like to hear an update on this, now that it's a year past.

You don’t want to brag and show off to your friends..

I wish I could go back in time - to just knock some sense into me -when I was a 25 year old and working already. Hope the kid listens...but harder to stay the course in today's materialistic world we live in, especially being so young with that much money - on top of social media! My 18 year old self would be thinking - ok Day one - new Corvette or Porsche 911!

Smart kid. The fact that hes calling into the show at his age just shows his wisdom at such a young age. My stepson inherited 300k at age 17 and blew it all on drugs within a year. We tried to stop him, but ultimately there was nothing we could do. Today hes 29, cant even hold down a job, and he regrets it every day of his life.

They're giving him solid advice. Pretty much act as if that money isn't even there. Go and do life outside of the money. Meaning, saving for a house, saving for college, and planning life just like a normal 18yr old. The only difference is, he has an attorney and an investment advisor in his pocket managing that money, and managing big decisions when it comes to that pile of money.

Nothing is for free…you will work very hard for this as you put structures that support your health and well being along with your money.

Put it in a dividend etf like schd and have it paying you a doctors salary by the time you graduate college every year for the rest of your life.

Don't tell ANYONE. Don't show signs. My nephew was in the same situation and he never told anyone and drives a used car. Not even his best friends know. He was 17. He's now 21 and getting ready to graduate college. He's lived with his grandma when not in school even works part time to keep the facade in check. I pray this kid handles this well! What a blessing, except for the reason he earned it. Hopefully nothing life threatening/shortening.

Good luck Alex! Maybe buying an investment property with proper advising isn't a bad idea.

I'm rooting for this Alex guy to win in life!

Put a large amount in a growth fund and live of the interest off that portion of the money , buy a normal 2/5 year old vehicle , buy a cheaper house outright and you can rent it out if you decide to leave anyway and it would be such a tiny portion of the $

Dave Ramsey show: "people are going to come out of the woodwork to manage your money don't let them" Also Dave Ramsey: "Let our smartvester pro's manage your money we'll help you"

I know at 17 I wouldn't have the discipline to do what Alex did. I'd be saving money but not like how these guys explained. I'd be buying that tesla for sure. This kid if he does it right, things are set for him. I hope that I can teach my kids to do the same with their money.

“People are going to come out of the wood work for your money” oh also here at Ramsey Solutions we would like a slice of that pie.

Good luck Alex

The fact that this kid called speaks volumes about where his head is at.

They ask him why he would want to buy a house???! Seriously? If he's got the cash, he might as well use 10% of it and buy a home free and clear! Better then letting it sit in his bank inflating into oblivion.

0:35 George’s face!! Hahahahahah😧😬😧😬😮🤣😂🤣😂🥲 I died

For starters, never tell people how much you have in your account. (Family or friends) You wont have beggars in your face. Act like your broke.

Don’t buy a house until you get married? Terrible advice. He can buy a house at 19 or whenever he wants. It’s a good investment.

Could be a curse at this age.

Saving money is the hard part. Only spend the interest and you have a cash machine forever

Yo them pushing the give train really bothers me. Giving is a personal choice I don’t like when people push their own beliefs on other people

Hi Alex, it's me your uber driver. How are you man?

Nothing wrong with buying a house in cash and never having to worry about that again. And when time to move, sell it and make more. Real simple.

“Are your parents in the room?” Lol

I don't think you should tell someone not to buy a home just because of their age. I bought my first home when I was 20 and in college. Then I took in 2 roommates to help reduce costs. Eventually I moved for a job and rented the house out. Years later, I returned to the home.

Don't tell ANYBODY!!!!!! Finish your schooling, find some hobbies or interests you enjoy and make a career path out of them. Find a Church or Volunteer Organization you can spend some TIME (not money) with. Stay out of nightclubs or casino's. NEVER touch the principal, only live off the yearly interest after taxes. NEVER TELL ANYBODY!!!!

He has a good head on those shoulders i don't ever say this but man if Dave would have been there

I certainly wouldn’t be working except for a when I want something to do when I’m not scuba diving in Australia lol

Money that is received in a court settlement is usually considered income and is therefore taxable. However, personal injury settlements are an exception, so the money you get after a slip and fall or car accident is likely not taxable income.Feb 14, 2022

I would love to hear a follow up on this guy.

Alex its me, im here for you

Please don’t let anyone know you have this money and do not overspend 🙏

Investing in the community means that you have some power to create safe enviroment, that you want to live in. Having a lot of money and living in a bad neighbourhood is bad. One coach once said that if you have money to invest: invest it in your favorite restaurant so it does not go out of business... invest it in the places in your community which you want them to keep working so you can keep going there...

INVEST THE MONEY !!!!!!!

Just remember: Never spend the principal!

Dang!

When you start the game on easy mode 😂