Yahoo Finance
Sometimes the best financial decisions start with a lucky break.
For one couple, both 26 years old, that break was a $5 bill they found on the ground during a vacation — which they used to buy a lottery ticket that won them $400,000.
The husband called into The Ramsey Show last week, where financial experts George Kamel and Dr.
John Delony were hosting, to get advice on what they should do with the money.
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"I'd go buy a house in cash," Delony said immediately.
Kamel's response: "100% in cash." The couple wasn't starting from zero.
They had recently paid off about $80,000 in debt and were earning roughly $115,000 a year combined.
Their goal was to buy a $250,000 home within the next five years.
After federal and state taxes, the husband estimated their winnings would net around$275,000.
That number — $275,000 in after-tax cash — sitting alongside a $250,000 target home price is something Kamel and Delony rarely see from callers.
Buying the house in cash would essentially achieve in one afternoon what the couple had planned to work toward for five years.
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