An airline pilot with a net worth of about $3M (£2.3M) rang a national personal finance programme hoping for the go-ahead to borrow against a $650,000 (£488,000) catamaran. Dave Ramsey gave him a different answer. Sell the house.
The caller, identified only as Bob from Houston, told The Ramsey Show that he and his wife were newly married, debt-free, and what he called 'baby step millionaires', a household that has followed Ramsey's step-by-step money method all the way to a seven-figure net worth.
