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Re: Dave Ramsey gets one thing wrong....
[Re: Remington270]
#2231415
09/19/17 04:40 PM
09/19/17 04:40 PM
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Joined: Jan 2011
Posts: 38,489 N. Bama
257wbymag
Boo Boo Head
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Boo Boo Head
Joined: Jan 2011
Posts: 38,489
N. Bama
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I got no use for somebody else telling me how I should spend or save my money. I do ok on my own accord.
Quietly killing turkeys where youre not!!! My tank full of give a fraks been runnin on empty I'm the paterfamilias
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Re: Dave Ramsey gets one thing wrong....
[Re: Remington270]
#2231442
09/19/17 04:51 PM
09/19/17 04:51 PM
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Joined: Feb 2013
Posts: 8,395
Atoler
14 point
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14 point
Joined: Feb 2013
Posts: 8,395
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He's always spouting off about mutual funds getting 10-12% on an annual basis. This might be true looking back, but there's no way that's true going forward. There's a good chance you'd lose money if you put it in today. Market's at a record high. I agree with 99% of what he says otherwise though. Just wait until all the baby boomers start drawing off their 401ks. Mutual funds will definitely not be a good place to have money.
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Re: Dave Ramsey gets one thing wrong....
[Re: N2TRKYS]
#2231447
09/19/17 04:55 PM
09/19/17 04:55 PM
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Joined: Nov 2011
Posts: 21,779 USA
Remington270
OP
Freak of Nature
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OP
Freak of Nature
Joined: Nov 2011
Posts: 21,779
USA
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He seems to be wrong more than folks want to admit. I think his methodology is sound. I just think the expectations are off. It's the whole "if you save $5/day you'll be a millionaire".....probably not.
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Re: Dave Ramsey gets one thing wrong....
[Re: Remington270]
#2231478
09/19/17 05:12 PM
09/19/17 05:12 PM
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Joined: Jun 2016
Posts: 2,644 Arab/Stevenson AL
Recurve
10 point
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10 point
Joined: Jun 2016
Posts: 2,644
Arab/Stevenson AL
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Mutual funds aren't going anywhere. The good thing about the investment world is that despite government regs/FINRA, people from top to bottom are vested in the product. Meaning everyone benefits with strong/consistent returns. That also means that despite those regs, the market is still an extreme free market process and will evolve or fall out of the market.
Besides, funds that have been in existence over 80 years have been in existence that long for a reason. We're talking funds like American Funds Investment that is an actively managed growth/income fund that was started in 1934 and has averaged 12.05% since that time.
Don't get me wrong. I have plenty of disagreements with Ramsey. I think he's too conservative when speaking with younger investors. I was in the game for 10 years and the strategy used for a 50 year old is remarkably different than a 25 year old. All that said, you also have to consider his market. He is speaking/counseling to people who are horrible with money. Some with 100k+ credit card debt, 2 $40k+ vehicles and huge mortgage and less than $1k in the bank. It stands to reason he would be counseling on the conservative side with people who need a credit card to buy a hamburger. Not a criticism of your opinion, just my $0.02. I don't think mutual funds are the end all be all. I just have a lot of confidence in them for quality growth.
I hope we have once again reminded people that man is not free unless government is limited. There�s a clear cause and effect here that is as neat and predictable as a law of physics: as government expands, liberty contracts. � Ronald Reagan
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Re: Dave Ramsey gets one thing wrong....
[Re: Carlos]
#2231481
09/19/17 05:14 PM
09/19/17 05:14 PM
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Joined: Sep 2015
Posts: 9,541 Montgomery, AL
jbc
14 point
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14 point
Joined: Sep 2015
Posts: 9,541
Montgomery, AL
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I personally can't stand listening to or reading DR. We are not "rich" when it comes to $$$. We do save and have investments, but you can be sure we are gonna spend money and enjoy it before we are to old to do so. Hell yeah Carlos. I like you. Live on.
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Re: Dave Ramsey gets one thing wrong....
[Re: jbc]
#2231483
09/19/17 05:14 PM
09/19/17 05:14 PM
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Joined: Jun 2015
Posts: 14,012 Some Marriott/Auburn
AU7MM08
Booner
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Booner
Joined: Jun 2015
Posts: 14,012
Some Marriott/Auburn
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I have a tough time listening to a guy tell me to pay cash for everything who has millions in cash.
And I'm not sure he got the millions in cash from that plan Paying cash for everything is a joke. My line of work a credit card is a must.
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Re: Dave Ramsey gets one thing wrong....
[Re: Carlos]
#2231485
09/19/17 05:15 PM
09/19/17 05:15 PM
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Joined: Jun 2016
Posts: 2,644 Arab/Stevenson AL
Recurve
10 point
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10 point
Joined: Jun 2016
Posts: 2,644
Arab/Stevenson AL
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I personally can't stand listening to or reading DR. We are not "rich" when it comes to $$$. We do save and have investments, but you can be sure we are gonna spend money and enjoy it before we are to old to do so. I don't think you've listened to him enough. He's never said anything against spending money. He's just said in a nutshell, don't be stupid when spending money.
I hope we have once again reminded people that man is not free unless government is limited. There�s a clear cause and effect here that is as neat and predictable as a law of physics: as government expands, liberty contracts. � Ronald Reagan
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Re: Dave Ramsey gets one thing wrong....
[Re: AU7MM08]
#2231486
09/19/17 05:15 PM
09/19/17 05:15 PM
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Joined: Sep 2015
Posts: 9,541 Montgomery, AL
jbc
14 point
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14 point
Joined: Sep 2015
Posts: 9,541
Montgomery, AL
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I have a tough time listening to a guy tell me to pay cash for everything who has millions in cash.
And I'm not sure he got the millions in cash from that plan Paying cash for everything is a joke. My line of work a credit card is a must. Most people's line of work
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Re: Dave Ramsey gets one thing wrong....
[Re: jbc]
#2231488
09/19/17 05:17 PM
09/19/17 05:17 PM
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Joined: Jun 2015
Posts: 14,012 Some Marriott/Auburn
AU7MM08
Booner
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Booner
Joined: Jun 2015
Posts: 14,012
Some Marriott/Auburn
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I have a tough time listening to a guy tell me to pay cash for everything who has millions in cash.
And I'm not sure he got the millions in cash from that plan Paying cash for everything is a joke. My line of work a credit card is a must. Most people's line of work Would reputable national chain hotels even allow you to pay with cash? Car rentals? Airline ticket purchases?
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Re: Dave Ramsey gets one thing wrong....
[Re: AU7MM08]
#2231493
09/19/17 05:19 PM
09/19/17 05:19 PM
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Joined: Sep 2015
Posts: 9,541 Montgomery, AL
jbc
14 point
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14 point
Joined: Sep 2015
Posts: 9,541
Montgomery, AL
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I have a tough time listening to a guy tell me to pay cash for everything who has millions in cash.
And I'm not sure he got the millions in cash from that plan Paying cash for everything is a joke. My line of work a credit card is a must. Most people's line of work Would reputable national chain hotels even allow you to pay with cash? Car rentals? Airline ticket purchases? Everybody takes cash.... It's just not as easy to document for reimbursement. Plus the hassle of carrying.
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Re: Dave Ramsey gets one thing wrong....
[Re: AU7MM08]
#2231495
09/19/17 05:20 PM
09/19/17 05:20 PM
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Joined: Nov 2011
Posts: 21,779 USA
Remington270
OP
Freak of Nature
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OP
Freak of Nature
Joined: Nov 2011
Posts: 21,779
USA
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I have a tough time listening to a guy tell me to pay cash for everything who has millions in cash.
And I'm not sure he got the millions in cash from that plan Paying cash for everything is a joke. My line of work a credit card is a must. Most people's line of work Would reputable national chain hotels even allow you to pay with cash? Car rentals? Airline ticket purchases? Negative, ghost rider
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