Home Forums Hunting & Shooting Hunter's Campfire For all the Dave Ramsey Haters

Haha! You have not seen my boat.

Not sure who you're talking to, but my money is in the bank, businesses, a home, etc.

Huh? WTF are you talking about?

You can use cash to buy real estate, invest in your business, or invest in market.

Dave tells you not to leave it in the bank, other than emergency fund. He says to keep that fairly liquid. The interest I am losing on that, is not changing the my life.

Sure I do. Save. Debt is bad. Credit is bad.

Daves an idiot.

Cuzzin'!

Waiting 30 yrs to save enough for a house IS changing your life. Good debt. Do you believe in it?

Dave is a car guy. Owns vacation homes, and toys . Just says to make your income is high enough to afford toys that go down in value


Again I am not saying people have not gotten rich borrowing. It comes down to how much risk you want to take.

It is like I tell the liberals when they ask why I carry a gun. I tell them I am not willing to take .000001% on my family getting raped and killed, but if you are, that is up to you.

Pahick. He did not say keep saving and not investing. He said keep 1000 bucks back for emergencies and once you're in better shape build it to 3 to 6 months of income. Then invest like hell. No one said keep shoveling money to the bank at 0.000001%.

And that's good advice for people who live between the ends of two monthly paychecks.

Why do you need to wait 30 years? Maybe you should buy a house you can afford. Wife won't let you?

He also said he is OK with mortgage debt. Just make it a 15 year note and when you're out of debt otherwise then pay it off next.

LIve within your means, is bad advice to some people.

Here's what Dave actually has to say about mortgages. A different story than phick thinks he knows.......

https://www.daveramsey.com/blog/the-truth-about-mortgages

"The ideal way to buy a house is the 100% down plan—pay cash for the whole house. Sounds weird, doesn't it? But think how much fun that would be! No mortgage! No payments! If paying cash for a house seems too far out of reach, you can still buy a house if you make wise choices.

Save a down payment of at least 10% on a 15-year (or less) fixed-rate mortgage, and limit your monthly payment to 25% or less of your monthly take-home pay.

You can probably qualify for a much larger loan than what 25% of your take-home pay will give you. But it's not wise to spend more on a house because then you will be what Dave calls "house poor." Too much of your income will be going out in payments, and that will put strain on the rest of your budget. You won't be able to save and pay cash for furniture, cars and education.

Knowing how much house you can really afford afford is the difference "

No wife. Thats not the point. The point is, if youre saving money to buy, in the mean time youre paying someone else to live somewhere. Youre doing what Dave says, renting. Throwing money away. Most likely paying a lot more than having an actual mortgage. He says you need to have that down payment. Guess hes never heard of USDA loans. Renting has some real tax advantages doesnt it? Pfft! Hes a complete idiot.

I don't know any Dave Ramsey haters. But his advise is simple and rather common-sense. Nothing cerebral, but you can't go wrong with him.

It depends how much you are paying on rent. back to leaving within your means.

I bought my house zero down. I did the math at one point and realized I was not ahead compared to a decent house I was renting. I bought in 2006 right before the market crashed. Luckily I low balled. But to refi for a 15 at a low rate I had to put up cash. Now I look at what I owe and think about how my life will be when paid off.

When I had 30 year mortgage, there was no light at the end of the tunnel and tremendous interest. My payment is slightly less. So how do I have more money to invest? I would have been paying longer. Not to mention when your house is paid for, you don;t need much to live off if something bad happens.

I'll be able to spend my money on coke and hookers, rather than a mortgage. But whatever you prefer.

Pahick, several guys finally addressed what Ramsey says about mortgages. Obviously very few people would own a home without one, but he also encourages you to pay it off. I know I damn sure wouldn't want a mortgage in retirement.

I dont know your exact details, but if the interest difference between 15 and 30 was great I can understand. But doing a 15 when you can do a 30 and put the extra toward principal....well lets hope you dont end up on youre previously mentioned WC benefits.

The Fonz talked ol aunt Gurtie into a reverse mortgage. Now she can afford Puss-N-Boots salmon delight
😄😄

Not sure what is tough here. Having the money I was spending on mortgage sooner, is better. I don't want to retire with a mortgage. Sure you can borrow on 30 and pay off 15. That is same as taking 15, just worse interest rate. But either way you are paying off sooner. So either way better than paying on loan for 30 years.

No its not the same as paying 15, because the interest rate may be a little higher at 30, 30s monthly is lower.