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

Interest certainly is nice. Some people even go on about investing money they owe to bank cause they think interest rates make it worth it.

But it really comes down to monthly payment and buying a house you can afford. So regardless of interest rate 15 years is 15 years. Whether you commit to it on day one or pay extra long the way. Just going to cost you more.

So what is your point? Take a 30 year loan and pretend it is 15,works too. Ha???

15 yr should be max offered. If you can't afford a 15, keep renting till that changes. Interesting statistics here, if median means anything to you:

https://dqydj.com/retirement-savings-by-age-united-states/

"Never take financial advice from broke people" should be repeated often.

Ahh, do believe taking a loan with a higher interest rate and make a bigger payment is better?


If you want to pay house off in 15 years, you think is better with higher interest rate? You should try one of those calculators.

I dont need a calculator. Yes, a 30 is better. As long as the difference in interest rates isnt astronomical. Are you going to pay more? Yes. A lot more? No. Depends on how you see things. Do you think the higher interest of a 30 is a bigger risk than potentially not being about to make your monthly if something bad happens? You can have your 15, ill stay with 30.

I read his book in 2005 ish. Looked at the wife and said we need to pay off our debt. Lived frugally for two years and paid it all off, 2008 crash left me feeling good about the decision.

I dont understand your hostility to Dave. His teaching is common sense. Dave does allow a mortgage for your home. He wants people to be out of debt so they can build their wealth using their income, which is their most powerful wealth building tool. Its working for many people and works fine for me, although I am not completely on board. I have a truck loan. Once you get a rental by paying cash then you buy the next one faster, and the next one faster yet etc. It happens fast. You can build one heck of a nest egg if you dont have debt.

What Dave teaches helps a lot of people retire with dignity. Risk is a bad thing and many people go broke leveraging credit. Do you have more money than Dave?

I like most of Daves ideas. But, following his advice cost me a ton of money once. I parked most of my money and sold my real estate investments in 2008 right before everything went bad. I was looking for something to invest in and noticed some obvious manipulation in the silver market I jumped in with both feet when spot was around $9 an ounce. I probably bought a total of around 6000 ounces. I had monster boxes stacked in the safes and slid under the bed. I started following Dave and he said to sell all the metals and pay off debt. I said it looked like it was headed for a big run up but Daves guys said sell it all now and pay your house down. So I think around 2010 I sold most of it for little to no profit. Then within the next year it ran up to $48 an ounce. If I would have trusted myself and held it a little longer it would have paid off my house and everything else.

Bb

Dave allows for mortgage on his plan. Save enough down to avoid PMI and get a 15 year mortage is his recommendation. Then pay it off as soon as you can. You dont know what your talking about, and it shows more every page.

No, do you?

no, but I like the direction I am going. The point is, Daves advice is based on what he does. It worked for him and works for many.

Do you know how to increase money that you borrow? You do know what the word profit means dont you? Have you ever made a profit? Outside of standard "investments". Saving is good, dont get me wrong. Sitting on money that isnt making a profit is foolish.

Oakster................Lets say I gave you $50,000 @12%, total payback 12 months. Can you make money on it? No? Theres youre problem. Keep banking yours while the rest of the world is "working" theirs.

Some people need Dave Ramsey. But they sell themselves short. Risk comes in all forms, and if they need to eliminate risk until theyre debt free, so be it. But those people that need Dave Ramsey, those people that need to be risk free dont get far in life. Let me rephrase that. People that need to be risk free never reach their potential. NO ONE got rich, let alone debt free, being risk free.

I realize not everyone grew up making money. And many who did made it different ways. I made mistakes in my life that set me back, and health issues stopped my progress. I am not rich, not close. But I know how to make money off other peoples money. I cant make money by saving.

Some of you guys posting on here make BIG bucks. And you need Dave to get you out of debt. Pffttt!! A guy selling tomatoes along the roads got more brains than half of ya. The American Dream......more like a fuggin wet dream y'all are livin.

Wanna get outta debt? Take RISK!

Here, heres a damn market report, open to the public.

http://www.masondixonautoauction.com/marketreport.html


Autos not your thing? Pick something, anything. Learn to make money. Apparently you arent making enough to support your current lifestyle.

I can't believe I'm reading this.

Even at modest rates for both, say, on a 200k mortgage, that's potentially pi$$ing away 15k.
Sounds like you want piece-of-monthly-mind vs. the risk you're so readily recommending to others.

I like Dave Ramsey. Good advice!

Why can't I make money investing cash?

I have never watched or listened to a single show of his. I am also not in debt. I think finances are intuitive to anyone who is responsible. The concept isn’t hard at all, to me. The most important things? Live beneath your means, and aggressivly save in the right vehicles to help growth, especially above inflation.

Don’t hate him. Just don’t need him.

Me too.

What he preaches oughtta be sung from the rooftops.

Sounds like my old buddy that was going to get rich daytrading back in the late 90's. He made some for a while but when things went south it cleaned him out, he's living in a shack and running a backhoe now.

Everybody's a financial genius when times are booming, eventually the boom stops though and when you're leveraged to the hilt it's not fun.

I have taken out long loans and just set up the payments to be like a shorter loan. I get the point of having secruity. I do now how much a couple points can mean, and have refied my house even though I had to put down cash. Though you shouldn't have a 2 point difference on 15 to 30.


I agree there can be more secruity, but also question walking the line of more house than you can afford.