Inflation! $$

dcjredline said:
$499? Who charges $499 to tell you how to become debt free?
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Dave Ramsey. I don't know exactly what he charges but it wasn't free. I listened to his show for 30 minutes one time and heard all I needed to hear.
Hard for me to believe someone would pay $ for another person to tell them the way to get out of debt is to spend less then what you make.
 
I think Dave Ramsey is for people who can't balance a check book. There are people out there who have no common sense when it comes to money. The problem I have with him is it's cookie cutter advice that doesn't apply equally to everybody.
 
Flash Gordon said:
Dave Ramsey. I don't know exactly what he charges but it wasn't free. I listened to his show for 30 minutes one time and heard all I needed to hear.
Hard for me to believe someone would pay $ for another person to tell them the way to get out of debt is to spend less then what you make.
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Funny you mention him.

Cheri's Dad bought her the DVD set years ago. It's here and we listened to a couple disc's.

Pretty basic stuff, but people need it.
 
I read a story this morning about a cryptocurrency trading company that's just gone into voluntary administration (bankruptcy). It's an online trading platform, enabling average people to get into crypto. All users accounts were frozen last month, now they're being told there might be nothing left. There are over 30,000 users, most had moved their whole retirement savings into it, hundreds of thousands of dollars we're talking, all gone. It was closely linked to FTX which crashed last month.

I've never understood cryptocurrency, but if it seems too good to be true, it probably is, people get desperate to make fast money, and they do stupid things.

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Big Dave said:
I read a story this morning about a cryptocurrency trading company that's just gone into voluntary administration (bankruptcy). It's an online trading platform, enabling average people to get into crypto. All users accounts were frozen last month, now they're being told there might be nothing left. There are over 30,000 users, most had moved their whole retirement savings into it, hundreds of thousands of dollars we're talking, all gone. It was closely linked to FTX which crashed last month.

I've never understood cryptocurrency, but if it seems too good to be true, it probably is, people get desperate to make fast money, and they do stupid things.

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I have friends that have invested in cryptocurrency over the past few years. Most encouraged me to do the same. I understand the concept and actually think it's a great idea (in theory), but my gut instinct would never let me get involved with it. I have to be able to see/hold a tangible asset before I will depart with my hard earned money. For me real estate is the smartest investment just so long as you don't overpay on the front end.
 
DUBL0WS6 said:
I think Dave Ramsey is for people who can't balance a check book. There are people out there who have no common sense when it comes to money.
The problem I have with him is it's cookie cutter advice that doesn't apply equally to everybody.
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My sister (retired Fed) and her husband (an accountant) fall into this category. Both of their incomes combined has to be close to 400k. They are constantly having money issues. Of course they have 2 new BMW's, a home twice the size of mine (in a fancier neighborhood) and a lake house.....No thank you!!
 
dlc95 said:
Funny you mention him.

Cheri's Dad bought her the DVD set years ago. It's here and we listened to a couple disc's.

Pretty basic stuff, but people need it.
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If listening to that guy (or another person like him) helps someone get their finances in order then more power to them (I don't mean this in a condescending way).
 
DUBL0WS6 said:
I think Dave Ramsey is for people who can't balance a check book. There are people out there who have no common sense when it comes to money. The problem I have with him is it's cookie cutter advice that doesn't apply equally to everybody.
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It is but if you've ever listen to his radio show, people call in during the entire show and give their specific money issues and he gives them advice. So its not all just cookie cutter

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I listen to clips from his show on YouTube. Much of what he says is just common sense but it needs to be heard.
 
opie said:
It is but if you've ever listen to his radio show, people call in during the entire show and give their specific money issues and he gives them advice. So its not all just cookie cutter

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Let me be more specific. I'm referring to his "get out of debt" before you invest advice. For the average person, digging out of debt before investing will lose them years of investment time. He's giving advice to people who pile debt on debt. The problem is that the 5 or 10 years it takes to get out of debt is 5 or 10 years of no investing for the future. Someone in their 50's who takes his advice will have nothing set aside for retirement as they need 20 years or more of returns. Most people would be better off reducing debt while investing a modest amount.

The second thing about being debt free is that you constantly use up your resources. Paying for a large purchase entirely by cash could wipe out your nest egg for a couple years. Third he's made his money from investing and selling advice. Nothing wrong with that but not everyone fits in the same box.
 
True. Also, a nest egg is not to be touched for anything other than emergencies imo.

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opie said:
True. Also, a nest egg is not to be touched for anything other than emergencies imo.

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Several years ago I talked to an insurance salesman about getting an annuity. He told me that the average person needs to have 30K of accessible cash or assets that can be converted to cash for emergencies.
 
DUBL0WS6 said:
Several years ago I talked to an insurance salesman about getting an annuity. He told me that the average person needs to have 30K of accessible cash or assets that can be converted to cash for emergencies.
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Sounds like a 69 camaro might fit that bill. Now I just have to convince my trustee :D
 
A 69 Camaro emergency fund is highly moveable. That would be a fast transaction.
 
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