Los Angeles father with a year to live wins $100,000 in fantasy football and asks for advice. Dave Ramsey says 1 choice will best protect his family

And in a rare moment, Ramsey, usually quick with an answer, fell speechless.

Ramsey’s advice for a father with one year to live

The 48-year-old husband and father of two told Ramsey that he had stage 4 cancer and doctors estimated he had about a year left to live. He said his family has been surviving off his disability income of $2,800 a month, does not own a home or any other assets, and that he emptied his 401(k) to pay bills.

At first, all Ramsey could muster was that he hoped the caller wasn’t going to ride the high of the win and place another sports bet. “Don’t lose it all trying to replicate it,” he advised.

The caller told Ramsey that his wife was working gig jobs in grocery delivery, and was lucky if she brought home $100 a day. Ramsey was blunt: That wasn’t enough to raise two kids after he passes.

Ramsey said, “$100,000 is a lot more than you had and it’s a good thing. It’s certainly not enough to sustain a family of three, a wife and two kids if you’re in heaven.”

His top recommendation, though: invest in the wife’s earning potential.

“If you spent $25,000 and she got a certification in X, Y or Z that allowed her to make $70,000 or $80,000 a year to be a widowed mom of two, that’s an incredibly good use of that money,” Ramsey said. “I can’t think of anything that’s going to be a better investment that’s going to even come close to that kind of a return.”

Why sudden windfalls can be risky and emotionally overwhelming

Ramsey’s warning about avoiding another bet was more than a throwaway line. Windfalls tied to gambling or unexpected luck can trigger risky behavior and “hot-hand” thinking, where people feel they’re on a streak and try to chase the high.

That’s because these kinds of windfalls can be a financial miracle for many families and provide sudden relief for severe money stressors like debt and job loss. But, as Ramsey told the caller, $100,000 isn’t enough to sustain a family long-term, and sudden betting wins may run the risk of being re-gambled.

Financial windfalls can come from many sources, such as gambling, lottery winnings, a large tax refund, an inheritance, lawsuit settlements and investing. Getting one can elicit a host of emotions, like relief from debt and joy from financial gain, as well as grief and sadness if the funds come from an inheritance or life insurance payout.

Other windfall recipients, like the Ramsey caller, can experience decision paralysis and confusion about how to manage such a sudden, large financial asset. Others can have an identity crisis if the money suddenly shifts their wealth bracket. All of these emotions can lead to poor financial choices. According to Tencap Wealth Coaching, some of the most common mistakes windfall recipients make are impulsive decisions, like quitting their job or immediately blowing the money on a car or vacation.

What to do if you come into a windfall, big or small

Coming into sudden wealth, whether from a lucky parlay hit or from the death of a loved one, can be an overwhelmingly emotional experience. If you aren’t careful, that money can disappear quickly. If you find yourself with a sudden large amount of money, it’s important to take a step back before making any decisions. Here’s how to make slow, smart, strategic decisions:

1. Pause before doing anything

Avoid big purchases and wait for the emotional dust to settle. Talk to a trusted financial planner who can help you build a strategy.

2. Get tax, legal and estate guidance

A tax advisor can explain how much you’ll owe on gambling or lottery winnings. An estate planner can help ensure inheritances or life insurance payouts are structured properly and protected.

3. Tackle high-interest debt first

If you were struggling before the money arrived, paying off high-interest debt will give you the biggest immediate return.

4. Build or replenish your emergency fund

An emergency fund is 3-6 months of living expenses. This creates a financial buffer so the windfall doesn’t disappear the next time an emergency hits.

5. Invest in your long-term stability

If the basics are covered, consider contributing to retirement accounts, opening an investment account, or using part of the windfall to further your career or education.