Single Mom Of Four Receives $1,250,000 From Late Boss–Dave Ramsey Advises, 'Your New Job Is To Manage The Money'

Life can sometimes throw the most surprises your way. For Corie, a 32-year-old single mom from Little Rock, Arkansas, that surprise was a $1.25 million gift from her late boss. Not knowing what to do with such a large amount, she called The Ramsey Show for help.

Corie worked as her boss's assistant for eight years. She helped with his schedules, tracked his finances and even managed his properties. They had a close working relationship and he treated her and her kids like family. She described him as an amazing person who treated her and her children like family.

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When he passed away unexpectedly, Corie learned that he had left her a substantial amount of money in his will – a staggering $1.25 million. Though she was deeply touched, Corie admitted she was overwhelmed. With four children aged 15, four, three and 11 months, no job and no experience managing such a large sum of money, she turned to Dave Ramsey for guidance.

Move Slowly

Dave's first piece of advice to Corie was to slow down. "If you feel urgency or someone pushing you, stop," he emphasized. He explained that rushing could result in costly mistakes, especially when managing an amount this significant for the first time.

Ramsey told her that her new job is to manage this money: "It’s not a woohoo I hit the lottery moment.”

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Dave advised Corie to form her team of advisors to help her navigate this new financial responsibility. He outlined four key professionals she would need:

1. Investment advisor to help her invest the money wisely and create a steady income stream.
2. Tax advisor to ensure she handles taxes correctly and avoids unnecessary penalties.
3. Real estate agent. Since Corie is renting, Dave recommended buying an affordable home (under $200,000) with cash to eliminate housing costs.
4. Insurance agent to ensure she has proper health insurance coverage for herself and her children.

Don't Touch the Principal

Dave stressed the importance of not spending the $1.25 million directly. Instead, he suggested investing the money and living off the returns. By doing this, Corie could generate a reliable income while preserving the inheritance for the long term.

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He also offered Corie free access to Ramsey's Financial Peace University so she could learn budgeting, investing and other essential money management skills.

By paying off her $40,000 in student loans, buying a home with cash and living debt-free, Corie can create a stable future for her family. Dave's advice is rooted in the idea that she can turn this unexpected blessing into lifelong financial security with the right guidance and patience.

With $1.25 million in her corner and a solid plan, she's well on her way to creating a better life for herself and her kids.

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