Anyone else hear Dave Ramsey hawking car dealership? (buying, college)

[no kudzu]

I think Clark has some inherited money and that is why he is so cheap so he doesn't look so "entitled". I used to live in Atlanta and he is extremely generous with his money and time as far as charities go. He has to maintain a miserly persona for his schtick.

This doesn't mention inherited money but a successful travel business and he retired very young.
http://en.wikipedia.org/wiki/Clark_Howard

[don6170]

Originally Posted by ducter

Another red flag...please put as much as possible into the stock market via ira or 401k.

Depending on your age, putting all or most of your retirement money in the stock market is exactly what you should be doing. A volatile stock market is your friend if you are making regular investments. The value of the market today is irrelevant if you are not going to pull your money out for 40 years. If you have a long time horizon, check your portfolio once or twice a year to see if it needs rebalancing - otherwise don't look it. The short term swings will drive you nuts and mean nothing in the long run.

[ducter]

Originally Posted by don6170

Depending on your age, putting all or most of your retirement money in the stock market is exactly what you should be doing. A volatile stock market is your friend if you are making regular investments. The value of the market today is irrelevant if you are not going to pull your money out for 40 years. If you have a long time horizon, check your portfolio once or twice a year to see if it needs rebalancing - otherwise don't look it. The short term swings will drive you nuts and mean nothing in the long run.

The crashes are getting worse and more frequent to the point that no longer can one assume that a crash occurs every 15 years, now it is 10 years soon it will be 5-7....When it gets too frequent then its gambling and not just a cycle. All of your money in one place is wrong, some OK.

[RedZin]

Originally Posted by MikeJaquish

Gotcha. But I think extreme cheapness is common to humankind, and is a cousin to greed and covetousness, which have been recognized as foibles for thousands of years.

I sold a house a few years ago, and my buyers and I laughed about the seller's financial neurosis.
You would have had to be there to see it.

He was the consummate, "Know the cost of everything and the value of nothing" oddball.
Almost had a stroke at the cost of nickel-dime repairs. Chased us through the house at showings and inspection and "estimated" all repairs at $5 or $10, or unnecessary. Dang near burned the place down playing electrician...
Couldn't hire help to move out.
Slept in the trailer with his goods in it in the street on the night of closing.

Etc. Etc. Like I said, you would have had to be there.

I told the buyers that the $92,000 proceeds check at closing was probably taking 10 years off his life, fretting about it. "My Precioussssssssss...." Or maybe it kept him young, long beyond his years. Maybe he was 600 years old and only looked to be 42?

This sort of stuff is what I'm talking about.

There are also people who will drive all over town for hours (days, weeks) to score cheap goods. And never factor in the wasted time, effort, gas for the car, wear and tear...

It's odd.

[RedZin]

Originally Posted by evaofnc

I think it is and I think my dad has it. He is downright ridiculous on what he will refuse to spend money on. I try to explain to him that if he spent a little more maybe the product would last longer and he wouldn't have so much broken crap laying around his house.

Hahaha! I know SO many people who do that.

[ncmickey]

Originally Posted by no kudzu

I think Clark has some inherited money and that is why he is so cheap so he doesn't look so "entitled". I used to live in Atlanta and he is extremely generous with his money and time as far as charities go. He has to maintain a miserly persona for his schtick.

This doesn't mention inherited money but a successful travel business and he retired very young.
Clark Howard - Wikipedia, the free encyclopedia

He tells his 'story' every once in a while. He is a great man. He may be cheap, but he is very generous with his money. He has built a bunch of Habitat for Humanity houses. He has raised and donated much money.

He started a small travel agency and quickly grew to 4 if I remember right. It was before the internet took over the travel industry. He was offered enough money for the business that he would never have to work again. He couldnt start any more travel agencies per his agreement with the people who bought him out. He said he got bored, so he got into radio in Atlanta doing little travel minutes on other peoples shows. It grew to where he is today. I like his show. My facts are from memory, so dont hold me to every little detail. I'm sure his web page may go into it more.....

[no kudzu]

yes I knew about his travel agency. maybe the inherited part is wrong but I know he "retired" very young.

[SLGM]

Thanks for all the replies!

I was wondering, actually, because I was using it as an example of Dave Ramsey's sleazy practices, such as encouraging people to use managed funds sold by commissioned brokers and assuring them that they will get returns of 12% a year. He's good for people getting out of debt, but his investment advice is positively criminal.

I do, actually, love Clark Howard and listen to him daily. I listed to his podcast, though, so I can listen whenever I want. He does it with no commercials at all, save a 20 second pretty inoffensive spot at the top of each hour.

He's funny, charming, and self deprecating, and he does what everyone should - be cheap about some things so that you can splurge on other things that you really enjoy. For example, he loves the concept and execution of electric cars and bought a new Leaf when they first came out, and he also has a Tesla, which are very expensive!

[TheBigKahunaNC]

I've known some world class cheapskates in my life. The type who would go buy things they need, like tools, etc, use them, then return them. I've had friends who were embarrassingly cheap, would argue with the cashier at McDonalds, that their "fry bag wasn't as full as it could be, and don't put any ice in my drink" types! I knew two guys who would spend 3 minutes arguing about the amount of drink in the cup, and fries in the bag! They'd want the kids sized cup, couldn't figure out why I would pay .15 more for a larger cup....and then they'd make 7 trips back for a refill. I knew an elderly couple, who'd spend and entire day grocery shopping, driving to 5 or 6 stores, and probably driving 40-60 miles, because one store had Little Debbie cakes for .10 cents less! I had a friend in high school, who drove about 13mph because it saved him gas...back when gas was .99 a gallon! He drove a Mustang II, glorified Pinto, and would shift into 4th gear immediately after getting it rolling, and then peter along at 10-15mph to save gas. I rode with him about twice after he got his license, and never again. It was nerve wracking!

[no kudzu]

I can understand some folks who grew up during The Great Depression being that way. I save rubberbands, paperclips and wash tin foil to reuse it just like my mother did. I think that makes me thrifty-not cheap. But I like to leave a nice tip, refuse to drive all over town looking for bargains and be dollar wise and pound foolish.

My father was born in 1915 and really suffered through the depression. I don't think he ever got over it. The only thing he ever bought "on time" was a house and even then he paid half in cash---and I mean real green cash. We always had used cars, were the last on the street to get a TV and my mother didn't get a clothes dryer till we had left for college. How stupid. He could have afforded it believe me. he died at age 58 and left my mother so much money she was more in shock at the amount she inherited than the fact her husband died in his sleep.