Home Forums Hunting & Shooting Hunter's Campfire Dave Ramsey's Six Retirement Myths

Doesn't matter if you can do any of that as long as you're the biggest one doing it.

Quit being a bogart and share with us your, God loving, UBER, Avalanche driving, annuity salesman.

I'm afraid that if we knew what the investments were in, then we would be tempted by the news media to sell when ever there is bad news about a particular investment rather than riding out rough seas. Much better to not know so that you don't sweat the small stuff

I don't think he's investing in annuities, mainly dealing in used guns and optics. He says he's able to achieve 10,000% annual returns on that, he says the secret is in being able to sell the same item 4 or 5 times, but I haven't figured out how he's able to get it back to sell it again.

LOL....well done

But what would I tell Paul and Jack from LCT?
They are just starting out on Winchesters and I promised them I would help?

A house isn't an investment, it's a place to live. If you sell it, you still have to have a place to live. My wife and I invested in mutual funds our entire careers and will be fully retired in 2 years. We will be able to live very comfortably.

Disagree. 8% per year increase in value is nothing to sneeze at. You can sell it after it's doubled in value in 9 years, buy another place for the same money you paid for the first one, and pocket the profit. I've done it twice in the past 22 years.

I started a balanced portfolio of stocks, bonds, mutual funds, and tax free municipal bonds about 1988. Wife and I contributed to it heavily till I retired in 2012, at age 61. And have a six figure pension that we could easily live on. That investment strategy has worked out extremely well for us.

The very best first investment you can make is in the finest marketable job skills you can acquire.

...and spend less than you earn.

How does one acquire a comparable house for half what one is worth?

Buy a smaller house for what it's worth. Downsize, different locale, etc.

How's a fella supposed to do that when you need a jacked-up F-250, toyhauler, and wake-board boat?

hahaha

dave ramsey has lots of good advice but its not for everyone. I would say its for most people though. The problem I get is he always says "good growth stock mutual fund" uhh where? I have personally be unable to find anyone who has gotten wealthy with this strategy. NONE and I do ask. I ask my accountant, my mortgage guy, who sees 1000 tax returns a year. The problem is people don't get wealthy by investing that way. They just don't. The numbers never seem to work. the 401k people may have 100k in some account in a mutual fund they have made some money on. to that I say big whoop, 100k aint getting anything done. Where are most people's greatest wealth? in their house, right? YES that is where your average persons biggest amount of wealth is at, Soo

If you ask people that have really made it, its going to be insanely rare to find someone who doesn't trace their wealth back to real estate somehow.

Dave's advice on budgeting, settling debts, and not actually being bankrupt is spot on. I do tune in at times to listen to him but, when he tells someone to sell a rental property they have 50% equity in that makes them money every month, my eyes glaze over and he loses me.