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Location: Live:Downtown Phoenix, AZ/Work:Greater Los Angeles, CA
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Quote:
Originally Posted by Joe the Photog
Ramsey does not make me mad. I used to listen, but have mostly given up all talk radio, even sports. Th thing about Ramsey is his advice is good, but sometimes not doable for folks. He says to pay cash for a car, which I have done twice. I was doing good on money the first time and it made perfect sense to pay cash for a car I could afford. 300,000 miles later, I bought a new car, but my situation was different at that point after going to school and then starting a family.
The next time I paid cash for a car was after my medical disaster of 2015/16/17. Money was tight. I wrecked a car I almost had paid off and used the insurance money to buy an old truck as it seemed like a great idea at the time not to have car payments. I knew the truck would need some work and changed out basically everything in the engine until right when I thought I'd be good for a year or so, the engine itself konked out on me.
Paying cash works great for those folks with cash. For the rest of us, we're trapped in a vicious cycle where it is hard (not impossible, but hard) to right the ship. Of course, some folks want to say there are two kinds of folks in the world. Those who take Ramsey's advice on paying cash for everything and then the others who (these folks think) want everything handed to them. Certainly those people exist, but most people are out here trying to survive from week to week on their own.
I stopped taking him seriously when he labeled Obama a socialist, and always thought his advice for people to pay cash outright for their first house was ridiculous (for 95% of us anyways)
Ramsey does not make me mad. I used to listen, but have mostly given up all talk radio, even sports. Th thing about Ramsey is his advice is good, but sometimes not doable for folks. He says to pay cash for a car, which I have done twice. I was doing good on money the first time and it made perfect sense to pay cash for a car I could afford. 300,000 miles later, I bought a new car, but my situation was different at that point after going to school and then starting a family.
The next time I paid cash for a car was after my medical disaster of 2015/16/17. Money was tight. I wrecked a car I almost had paid off and used the insurance money to buy an old truck as it seemed like a great idea at the time not to have car payments. I knew the truck would need some work and changed out basically everything in the engine until right when I thought I'd be good for a year or so, the engine itself konked out on me.
Paying cash works great for those folks with cash. For the rest of us, we're trapped in a vicious cycle where it is hard (not impossible, but hard) to right the ship. Of course, some folks want to say there are two kinds of folks in the world. Those who take Ramsey's advice on paying cash for everything and then the others who (these folks think) want everything handed to them. Certainly those people exist, but most people are out here trying to survive from week to week on their own.
I actually agree with much of what Ramsey has to say about living below your means, and I like what he tells people to get out of debt. Now once you're out of debt and can begin to save and invest, Ramsey probably is not the best option to turn for advice. I'd be wary of his "endorsed local providers" as I've heard that their fees can be pretty high.
I'm not sure what Dave Ramsey has to do with being liberal or conservative.
Anyway, most truly rich people I know would never follow his advice about mutual funds.
I never took a bit of advice about money from anyone but my parents....and perhaps my first boss.
It's really not a hard subject. Give more than people expect. Work hard AND smart.
But, as others mention, sometime life throws curves at ya...so despite herculean efforts, many American (most, perhaps) are living month to month.
I remember one of the inside jokes of a few years ago....something like "40% of Americans think they are in the top 10%"....to that we can add "60% of Americans think they will become millionaires someday".
Of course, both are largely impossible. I'm certain a lot of people who play the lottery think they are going to win - MANY more than those who actually do so.
I'm not sure what Dave Ramsey has to do with being liberal or conservative.
Anyway, most truly rich people I know would never follow his advice about mutual funds.
Dave Ramsey gives advice that is simple and easy to adhere to but not well optimized. If you're drowning in debt he has some really solid input in getting out of that. If psychologically you can't make yourself get money out of your bank and into a brokerage account I could see listening to him. Once you're already doing well he's basically your eccentric uncle ranting about frugality in car choices and giving bad investment advice.
I stopped taking him seriously when he labeled Obama a socialist, and always thought his advice for people to pay cash outright for their first house was ridiculous (for 95% of us anyways)
People can listen to Steve Martin (comedy) for that level of advice.
How to make a MILLION dollars and not pay any taxes.....
It's amazing that, in the age of Trump, this ancient comedy and sarcasm has actually become REALITY.
"You.. can be a millionaire.. and never pay taxes! You can be a millionaire.. and never pay taxes! You say.. “Steve.. how can I be a millionaire.. and never pay taxes?†First.. get a million dollars. Now.. you say, “Steve.. what do I say to the tax man when he comes to my door and says, ‘You.. have never paid taxes’?†Two simple words. Two simple words in the English language: “I forgot!†How many times do we let ourselves get into terrible situations because we don’t say “I forgot� Let’s say you’re on trial for armed robbery. You say to the judge, “I forgot armed robbery was illegal.†Let’s suppose he says back to you, “You have committed a foul crime. you have stolen hundreds and thousands of dollars from people at random, and you say, ‘I forgot’?†Two simple words: Excuuuuuse me!!“"
So, yeah, Dave R. saying people should pay cash for their first house is like saying they should take $100 a hour and no less for their first job!
It's funny the cons keep telling us, in belittling tones, that the democrats are the party of rich fat cats who live in million dollar houses in "elite coastal cities," and that all those left-leaning tech billionaires are somehow the scum of the earth.
Then along comes threads like this with another con telling us how wonderful rich people are. Odd.
The distinction is actually quite simple....
Accumulate > $1M via starting a landscaping business --> hero.
Accumulate > $1M as a salaried professional --> villian.
Every day people who worked hard and saved money. They're not losers with loser mentalities. They don't think that society owes them anything. Pocahantas and AOC, take note.
Would you care to explain where in that 7 & 1/2 minute video did these millionaires every say what their political ideology was???...because for all we know they could be Liberals too.
How long until it gets taken down for "hate speech"?
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