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Campfire Outfitter
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Campfire Outfitter
Joined: May 2003
Posts: 13,377 Likes: 1 |
No, I'm not ... but I keep trying. I assiduously buy a dozen Powerball tickets and a basket full of Scratch Off tickets every week. I know that one of these days .........  L.W.
"Always go straight forward, and if you meet the devil, cut him in two and go between the pieces." (William Sturgis, clipper ship captain, 1830s.)
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Joined: Nov 2010
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Campfire Ranger
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Campfire Ranger
Joined: Nov 2010
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He’s not even on our WTN Supertalk anymore, his flagship in Nashville where he started.
Burned this market out here.
Yall western types need some jeebus and money talk out there.
😃 That’s what happens. [sarcasm]Dave “the white devil” Ramsey made all the employees go to the super spreader office Christmas party last year.
Dave
�The man who complains about the way the ball bounces is likely to be the one who dropped it.� Lou Holtz
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Joined: Dec 2019
Posts: 3,022 Likes: 1
Campfire Tracker
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Campfire Tracker
Joined: Dec 2019
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Got lucky & lived the American dream.
Bastards set the goalposts back along the way.
Figure you need at least 5 million these days to even approximate what a millionaire was when most of us started our careers Ten million today would be roughly speaking equivalent to one million in the early 1980’s. Ramsey is good advice for people in bad positions. But he is all wrong when it comes to borrowing money for people that know what they are doing. I’ll borrow all day long and as much as the bank will give at these interest rates. There are a few investments that make it a no brainer to borrow. For one real estate here as increased 20% a year for the last ten years I have been tracking it. Crypto you can very easily get 3 to 5X returns on. As well as some dangerous opportunities at 100X. Not that I advise that. The stock market for the most part has only been keeping pace with inflation. Sure there are some stand out equities but on a whole there are better places to make money. Huh? My memory's not perfect, but I don't think I'm paying ten times as much for stuff as I was in 1982. My stock investments have far exceeded inflation over this time. I would not borrow money to invest as the risk is not necessary for me. Ramsey? The guy's plan is pretty fool proof, if not exciting.
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Joined: Jun 2008
Posts: 13,354
Campfire Outfitter
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Campfire Outfitter
Joined: Jun 2008
Posts: 13,354 |
A can of soda was $0.50
A gallon of gas was under $1.00
Median home price where I lived was $130k vs today $500k
A new pick up could be had for under $20k
Just a few examples to refresh your memory
Eat Fish, Wear Grundens, Drink Alaskan.
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Joined: Mar 2008
Posts: 15,638
Campfire Ranger
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Campfire Ranger
Joined: Mar 2008
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Ten M is about a million in 1960.
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Joined: Nov 2015
Posts: 523
Campfire Regular
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Campfire Regular
Joined: Nov 2015
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[quote=2legit2quit]
The stock market for the most part has only been keeping pace with inflation. Actually it's averaged 9% or more. Inflation isn't even close. Most economist agree that inflation has been rising at around 14 to 16% a year! But if you believe big brothers numbers based on bull hit CPI. Well nobody can help you. The CPI may not be viewed as realistic, but it is a way of comparing one year against another for a discrete basket of goods. The formula may even be outdated since today's basket of goods would have been unrealistic 50 years ago. But if you change the basket of goods, it would create an apples to oranges comparison. I read/saw a couple of weeks ago that 4% of the CPI is based fuel prices. Some people's monthly budget is more than 4% fuel, some less, so the CPI is not a one size fits all computation either. Technology could be another factor. TV's, computers, electronics, etc., are in many cases lower cost than in the past, or maybe more advanced for the same cost. But all that said, who are these "most" economists agreeing that inflation has been rising 14-16 percent?
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Joined: Aug 2009
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Campfire Ranger
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Campfire Ranger
Joined: Aug 2009
Posts: 20,824 |
Ramsey is out of touch...... his advice is beginner level at best.
And with inflation anyone with a nice paid off house is probably on paper a millionaire (if you live in a high cost area)
The real deal is a million plus in assets outside of your house. And those assets better cash flow or they are a liability, like your house.
Originally Posted by Judman
PS, if you think Trump is “good” you’re way stupider than I thought! Haha
Sorry, trump is a no tax payin pile of shiit.
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Joined: Dec 2019
Posts: 3,022 Likes: 1
Campfire Tracker
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Campfire Tracker
Joined: Dec 2019
Posts: 3,022 Likes: 1 |
A can of soda was $0.50
A gallon of gas was under $1.00
Median home price where I lived was $130k vs today $500k
A new pick up could be had for under $20k
Just a few examples to refresh your memory Those are not tenfold increases, just to refresh your mathmatics.
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Joined: Jun 2008
Posts: 13,354
Campfire Outfitter
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Campfire Outfitter
Joined: Jun 2008
Posts: 13,354 |
Ramsey is out of touch...... his advice is beginner level at best.
And with inflation anyone with a nice paid off house is probably on paper a millionaire (if you live in a high cost area)
The real deal is a million plus in assets outside of your house. And those assets better cash flow or they are a liability, like your house. True
Eat Fish, Wear Grundens, Drink Alaskan.
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Joined: Jun 2008
Posts: 13,354
Campfire Outfitter
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Campfire Outfitter
Joined: Jun 2008
Posts: 13,354 |
A can of soda was $0.50
A gallon of gas was under $1.00
Median home price where I lived was $130k vs today $500k
A new pick up could be had for under $20k
Just a few examples to refresh your memory Those are not tenfold increases, just to refresh your mathmatics. They don’t have to be tenfold, there are other aspects to take into consideration. But hey you do you.
Eat Fish, Wear Grundens, Drink Alaskan.
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Joined: Feb 2007
Posts: 11,774
Campfire Outfitter
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Campfire Outfitter
Joined: Feb 2007
Posts: 11,774 |
A can of soda was $0.50
A gallon of gas was under $1.00
Median home price where I lived was $130k vs today $500k
A new pick up could be had for under $20k
Just a few examples to refresh your memory Those are not tenfold increases, just to refresh your mathmatics. Beat me to this response.
NRA Patron
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Joined: Aug 2009
Posts: 599
Campfire Regular
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Campfire Regular
Joined: Aug 2009
Posts: 599 |
No but I'll be ok in retirement.
Last edited by fishnpbr; 12/17/21.
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Joined: Feb 2010
Posts: 16,076
Campfire Ranger
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Campfire Ranger
Joined: Feb 2010
Posts: 16,076 |
My favorite Dave Ramsey advice: “Don’t take financial advice from a broke guy.”
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Joined: Feb 2017
Posts: 3,287 Likes: 2
Campfire Tracker
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Campfire Tracker
Joined: Feb 2017
Posts: 3,287 Likes: 2 |
Dave Ramsey is for people who can’t do math! His overly simplified plan will cost you hundreds of thousands, if not millions of dollars in the long run. Example: Not investing into your 401k the second you’re eligible. Almost every 401k out there has an employer match. There’s nowhere else on earth where you can invest and get an INSTANT 50-100% ROI via. That match. You’re also missing out on the time value of that money. You will NEVER get that time back. Ever! Time, not money, is the most valuable asset any of us have.
When I was just starting out in the 90s I had the fortune of getting the above advise. After 5 years, I left that job and moved my 401k along with me. Today, that first five years represents 40% of my retirement account. I’ve been working and investing 23 years since then to secure the remaining 60%. Had I followed the Ramsey Method, that 40% would not exist!
There’s other examples of his bad advice but the above is unconscionable! Paying off loans from smallest to largest is another! Why the hell would you pay off a 2.5% loan when you have one at 23% interest?
I do agree with never using consumer credit though. No, I’m not debt free but certainly have enough liquidity that I could be if I wanted to. Why should I though when my Mortgage is 2.6% when I’m earning 35% on investments. More silly Ramsey advise.
Last edited by Ben_Lurkin; 12/17/21.
Yours in Liberty,
BL
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Joined: May 2003
Posts: 31,259 Likes: 3
Campfire 'Bwana
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Campfire 'Bwana
Joined: May 2003
Posts: 31,259 Likes: 3 |
I don't listen to Ramsey, but if he is indeed speaking at a "beginner" level, that's exactly what is needed. At least half the population of the US is dumber than a mud sandwich when it comes to money.
Cleverly disguised as a responsible adult.
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Joined: Dec 2003
Posts: 86,226 Likes: 24
Campfire Oracle
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Campfire Oracle
Joined: Dec 2003
Posts: 86,226 Likes: 24 |
By 1998, we had pretty much heard everything he had to say. Both got 2-3 jobs paid the house off in 1999, haven’t had a car payment since. And I’m at the beach for Christmas ![[Linked Image from i.postimg.cc]](https://i.postimg.cc/3w3svPxh/ABA02218-10-CE-4584-A2-DD-58029-F1934-A4.jpg) Redneck riviera!
If you take the time it takes, it takes less time.
--Pat Parelli
American by birth; Alaskan by choice.
--ironbender
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Joined: Aug 2009
Posts: 20,824
Campfire Ranger
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Campfire Ranger
Joined: Aug 2009
Posts: 20,824 |
I don't listen to Ramsey, but if he is indeed speaking at a "beginner" level, that's exactly what is needed. At least half the population of the US is dumber than a mud sandwich when it comes to money. That is true Rocky..... I've often thought of calling him to see what he would say to me? If I followed his plan I would still be workin for a dolla.... 
Originally Posted by Judman
PS, if you think Trump is “good” you’re way stupider than I thought! Haha
Sorry, trump is a no tax payin pile of shiit.
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Joined: Jun 2012
Posts: 4,774
Campfire Tracker
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Campfire Tracker
Joined: Jun 2012
Posts: 4,774 |
I don't listen to Ramsey, but if he is indeed speaking at a "beginner" level, that's exactly what is needed. At least half the population of the US is dumber than a mud sandwich when it comes to money. So true.
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Joined: Mar 2008
Posts: 15,638
Campfire Ranger
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Campfire Ranger
Joined: Mar 2008
Posts: 15,638 |
Ramsey has a good recipe. Are there chefs who can do better? Yup. Are you one? Unlikely.
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Joined: Feb 2010
Posts: 16,076
Campfire Ranger
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Campfire Ranger
Joined: Feb 2010
Posts: 16,076 |
I don't listen to Ramsey, but if he is indeed speaking at a "beginner" level, that's exactly what is needed. At least half the population of the US is dumber than a mud sandwich when it comes to money. That is true Rocky..... I've often thought of calling him to see what he would say to me? If I followed his plan I would still be workin for a dolla.... I followed his plan. I’m 48 and retired.
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