Dave Ramsey Advice

#51
#51
There is no reason to advocate paying off your mortgage right now. A decent index fund would easily give you 8% growth, paying off a mortgage with a rate under that is wasting your capital. While it's nice to have a house paid off it's not a dividable asset. You either own the house or you don't. A $200k house is a $200k block of cash, where the same $200k could be in equities with infinite ways to sell it in order to generate cash. If you can take on debt for 3% and invest it for returns of 6-8% you should do that all day. This is essentially the choice you make when buying a house cash or mortgaging it. If you're old it makes more sense to not have the house payment hanging over your head and your investment strategy should be more conservative. But if you're young you'd be better served to leverage the house as much as you can stand and invest heavily.
 
#52
#52
Dave Ramsey sued for $150 million by former fans who followed his timeshare exit advice


"Known for his hatred of timeshare companies, Ramsey had boasted about his confidence in the expertise of the Timeshare Exit Team. In a 2018 segment of his show, a video of which remains on the YouTube page of “The Ramsey Show,” Ramsey told listeners he had looked for years to find a company that could help people get out of timeshares.........

"As previously reported by Religion News Service, Ramsey stuck by the company, despite its legal troubles and allegations it had defrauded customers — claiming government officials, reporters and the timeshare industry had conspired against them.

“Instead of acknowledging the deception, Ramsey recorded a nine-minute radio segment in which he lashed out at anyone he felt to be responsible for Reed Hein’s woes,” the complaint alleges.


The complaint also details the tactics allegedly used by Reed Hein to defraud Ramsey’s listeners. After signing contracts with customers, the company would allegedly tell them to stop paying their timeshare fees and created fake property deeds aimed at convincing those customers they were free of their timeshares.

“When customers finally discovered the schemes and demanded their refunds, Reed Hein fabricated excuses not to honor the promises or stopped returning their calls,” the complaint alleges.

The plaintiffs in the lawsuit argue that Ramsey should have known better than to endorse Timeshare Exit Team. The complaint alleges the Lampo Group he runs, which does business as Ramsey Solutions, began receiving complaints about Timeshare Exit Team as early as 2016 and continued to endorse the company even after the Better Business Bureau warned consumers about Timeshare Exit Team and courts found the company had acted in a fraudulent manner."
 
#53
#53
We took our oldest grandson to a DR lecture when he was still in high school. It reinforced the basic, solid financial advice we were trying to teach him. He's now in his mid-twenties and after a couple of bumps in the road is moving forward with his baby steps and doing a good job of getting his ducks in a row and getting his priorities right. It's amazing to me that so many young people were never taught how to be fiscally responsible.
 
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#57
#57
Go aeiou said:
Yep, fired an employee that got pregnant. Says she violated their
'Righteous living policy".
No doubt the man is a good Christian.
Click to expand...
The "righteous living policy" isn't how I'd run a company, but actually isn't the biggest problem with it. The biggest problem with it is that he apparently picks and chooses who he applies it to.
 
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