Dave Ramsey

#1
Vol Mania 21

Vol Mania 21

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#1
I keep hearing Dave talk about how if you save $100 every month and the interest rate is at 12% and you do this for 40 years you can retire with over a million dollars. My question is this, wtf do you invest in that has a 12% interest rate?
 
#2
#2
Vol Mania 21 said:
I keep hearing Dave talk about how if you save $100 every month and the interest rate is at 12% and you do this for 40 years you can retire with over a million dollars. My question is this, wtf do you invest in that has a 12% interest rate?
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instant lotto tickets. Jtrain's foolproof retirement plan.
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#3
#3
He may be referring to historic average returns in the stock market (i know he's a big fan of mutual funds).

I think the last year or so is blowing that 12% average though...
 
#4
#4
guess i'm just not up on my stuff. i live comf. now, but i might b married by this time nxt year and ole girl has some student loans left, and she's wanting to go back to school(shoot me). so i was just trying to get a jump start. already have more than enough in the emergency fund, no student loans. just my truck payment 0% finance tho, and my mortgage.
 
#5
#5
I think Dave's main goal is to get people to put it all down on paper and evaluate their lifestyle. Even without the returns that high it's still better for people to be putting away money than spend it frivolously work until they're 75.

The wife and I sat down with his book and actually realized some amazing things about our finances.
 
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#7
#7
Financial Peace is his first and a must read for any married couple, the wife and I have been doing his plan since we got married. And yes he is referring to historic averages of Mutual Funds. Some people can take it too far but all in all a great plan to get out of debt, all we owe on anymore is the house. So when the real estate market dropped and my income got cut by 25-35% it really didn't affect me that much.
 
#8
#8
that's good, i'd like to pay my house off, but ole girl is goin to b putting a hurtin on me with the student loans, and goin back to school
 
#9
#9
Sjernigan88 said:
Financial Peace is his first and a must read for any married couple, the wife and I have been doing his plan since we got married. And yes he is referring to historic averages of Mutual Funds. Some people can take it too far but all in all a great plan to get out of debt, all we owe on anymore is the house. So when the real estate market dropped and my income got cut by 25-35% it really didn't affect me that much.
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FP is the one. We already had a good amt saved as an emergency fund and now we're hitting the debt. Got 5mos left and will have everything done (including the mortgage) within 5 years. Might be able to do it faster but the 5yr is without massive lifestyle changes.
 
#10
#10
volinbham said:
He may be referring to historic average returns in the stock market (i know he's a big fan of mutual funds).

I think the last year or so is blowing that 12% average though...
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Don't be silly, he's a Madoff investor. Double reverse credit default stock swap, derivative hedge program Ponzi style. It freakin' works.
 
#11
#11
Way to PJ!!! That book just kind of throws you back into the common sense that the world seems to lack these days. If you can't pay for it don't get it and write a budget so you know where your money actually goes. It really amazed me how much I spend each month on eating out, that was the major eye opener.
 
#14
#14
BigPapaVol said:
Don't be silly, he's a Madoff investor. Double reverse credit default stock swap, derivative hedge program Ponzi style. It freakin' works.
Click to expand...

I've decided to buy some Crompton stock. It is going to be huge. You can be a part of the posse as well! Just PM me and I'll give you an address where you can send the check.
 
#15
#15
Lexvol said:
I've decided to buy some Crompton stock. It is going to be huge. You can be a part of the posse as well! Just PM me and I'll give you an address where you can send the check.
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can't go anywhere but up, right? Penny stocks are the best. I'm in.
 
#16
#16
Vol Mania 21 said:
guess i'm just not up on my stuff. i live comf. now, but i might b married by this time nxt year and ole girl has some student loans left, and she's wanting to go back to school(shoot me). so i was just trying to get a jump start. already have more than enough in the emergency fund, no student loans. just my truck payment 0% finance tho, and my mortgage.
Click to expand...

Vol Mania 21 said:
that's good, i'd like to pay my house off, but ole girl is goin to b putting a hurtin on me with the student loans, and goin back to school
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dude, do yourself a favor and keep your finances separate. why are you taking on her debt?
 
#17
#17
no no, i'm not takin on her debt. trust me she hasn't seen a dime from me, but more than likely within the next yr we'll prolly get married. then i have no choice
 
#18
#18
Vol Mania 21 said:
no no, i'm not takin on her debt. trust me she hasn't seen a dime from me, but more than likely within the next yr we'll prolly get married. then i have no choice
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says who? we are not combining our debt when we get married. she has student loans and I am not going to have anything to do with paying them. we have a separate checking account for household bills that we both pay in to, and we keep our other money separate for the simple fact that it does not cause arguments.
 
#19
#19
i'm not combining accounts, but while she's in school she's not goin to be able to pay all of it prolly. i don't want debt period, so i'll help her get out of debt, its not a biggie
 
#21
#21
kev20 said:
says who? we are not combining our debt when we get married. she has student loans and I am not going to have anything to do with paying them. we have a separate checking account for household bills that we both pay in to, and we keep our other money separate for the simple fact that it does not cause arguments.
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To each their own but IMO it could cause more arguments when you have plenty of money and she's still stuck paying her debt. We figure we're in this together so we might as well join forces and pay it off. And if the worst happens I don't believe the debt just disappears (if you're married)
 
#23
#23
Here's Dave's steps in a nutshell from what I can tell:

1. Get a 2nd job or income to pay off your credit cards and car loans.
2. Rice and beans until you pay off your mortgage
3. Then scream at the top of your lungs "FREEDOM!"

Good advice, but it gets redundant every day.
 
#25
#25
Vol Mania 21 said:
that's good, i'd like to pay my house off, but ole girl is goin to b putting a hurtin on me with the student loans, and goin back to school
Click to expand...

with interest rates this low and the mortgage deduction you'd be a lot better off investing that money rather than paying off your house.
 
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