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.

I'm up 18.45% for the past calendar year, 14.15% ytd. Don' need no stinking mutual fund!

He seems to be wrong more than folks want to admit.

I got no use for somebody else telling me how I should spend or save my money. I do ok on my own accord.

Just wait until all the baby boomers start drawing off their 401ks. Mutual funds will definitely not be a good place to have money.

That's great, and I'm happy for you, but if you wait another year, those paper gains may all be gone. Market is nosebleed high right now.

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.

I bought a few shares of HRS last month and I'm up 16%

I think he helps more people that need help with their finances than most of us on here do and I applaud him for that. I always thought he preached finding a good mutual fund with a historically good track record and not just what was doing well in high times.
20+ years before I can touch 401K, so hopefully I can recover if/when it bursts.

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 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

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.

Hell yeah Carlos.

I like you. Live on.

Paying cash for everything is a joke.
My line of work a credit card is a must.

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.

Most people's line of work

Would reputable national chain hotels even allow you to pay with cash?
Car rentals?
Airline ticket purchases?

Yeah, the cash thing doesn't really work. But the average person is extremely dumb when it comes to debt. That part is factual, and all sorts of businesses are getting wealthy off of it. Because they're smarter than the average guy who "just wants a bass boat" and ends up plowing what should be retirement savings into it.

Everybody takes cash....

It's just not as easy to document for reimbursement. Plus the hassle of carrying.

Negative, ghost rider