Does Dave Ramsey's Plan Actually Work With FIRE?
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- Опубликовано: 17 июн 2024
- Dave Ramsey has been teaching the baby steps since before I was born. Do they work? Should you follow them?
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Disclaimer: This video is not in any form of personalized financial advice. I am solely sharing my personal experience and opinions. All Strategies, tips, suggestions, and recommendations shared are solely for entertainment and educational purposes only. There are financial risks associated with investing. You must conduct your own research and due diligence or seek the advice of a licensed advisor if necessary.
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Dave Ramsey is great. I disagree with him on credit cards and debt to an extent. I've never paid a penny in credit card debt. Ive used home equity to buy another home. Then I refinanced that home and bought another home. I put both new homes on one 15 year mortgage. This was during the crash.
I think you’re great with your money management skills. Well done!
pay the mortgage off asap! i would get a 30 year mortgage also. who knew i would become a widow at a young age. curve ball but still pay off early.
The best thing about paying off a house early at any age is saving on the interest. I am on the path of saving about 100K in interest by paying down my mortgage early -- even with my low 3% interest rate. If I didn't pay it off early I would pay about 150K total in interest over the lifetime.
Dave doesn't believe in Index Funds....He likes managed mutual funds that have fees....Another Disagreement
Interesting. What’s his reasoning?
@@FIREPsyChathe has shown that the statistics are wrong and a little over 50%, managed accounts beat index funds. He is mainly growth also but throws in international for diversity…sorry, that was Azul that showed MFs beat Index more often.
He has a video where he specifically addresses ETFs… but he said he doesn’t care as long as people buy and hold, and are diversified. He also said one is not better than the other to the caller :)
My wife and I took Dave Ramseys course “ financial peace” and we got out of debt and cut up our credit cards, then the NIGHTMARE happened, our debit card was hacked! Yikes! I now never use debit…. I have multiple credit cards now and get approx. 2k back every year, Dave hates this by the way, i find it fun to play with their $$$ and I haven’t paid interest in 5 years, the key is discipline…. Oh! And I have a 1st lean HELOC with no mortgage, another story and time!