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re: Dave Ramsey Gives Bad Investment Advice
Posted on 11/7/20 at 1:05 pm to momentoftruth87
Posted on 11/7/20 at 1:05 pm to momentoftruth87
quote:
Hes dumb about credit, especially that you get better deals with credit and it can be immediately paid off in cash.
The only time he recommends credit is when you buy a house.
And the banks can figure other ways on how to figure a loan %. You will come out better by just not having any debt. That is not dumb.
Even with the mortgage he recommends you take out only a 15 year loan that does not exceed 1/4 of your take home pay.
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Posted on 11/7/20 at 1:13 pm to Diamondawg
quote:
He who dies with the most stuff is still dead!
Yep, and you can't take it with you. Instead, (and I agree with this and practice it myself) he recommends you live well and then use accumulated wealth to help other people. Make sure you spend a certain amount on yourself, but then make sure you help others. Help someone struggling with their light bill, or groceries or medical bills. Stuff like that.
I've not heard him say this, but it's my opinion if you do help someone get back on their feet, then possibly help them to learn how to live within their means and get out of debt.
My son bought five of his books last year and when he sees someone struggling with how to manage their money he gives them a book. He and his wife have been helping a young lady (in her 20's) who is a single mom raising three kids. One is her ex-husband's sister . The ex is in jail. A lot of bad decisions going on, but instead of looking down their noses they have helped her out in numerous ways. Keeping the kids, money, making out a budget and other ways.
Posted on 11/7/20 at 1:19 pm to Diamondawg
quote:
He who dies with the most stuff is still dead!
Having just enough stuff so that you never have to give a shite about money is A OK too.
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