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Xist · 11-05-2017, 04:24 PM

The road to Heaven is paved with good intentions.

"I realized that on most issues, I agreed fully with Dave." Someone asked how he disagreed:

"A 12% annual rate of return in stocks is not realistic." "Warren Buffett’s long term prediction that stocks will return about 7% annually." If you invest $100 a month for twenty years, at 7% you would have $50,753.64. At 12% you would have $91,121.11. If you do this from when you turn 18 until you are 65, you would have $198,502.47 or $687,461.97, depending.
Personal responsibility is the problem, not credit cards.
"A $1,000 emergency fund is[n't] enough if you’re paying off credit card debt." He says that emergencies could easily cost more than $1,000. Sure. Hopefully, you could use those credit cards again for the duration of the emergency, and you should have less interest.
"`Growth' mutual funds are not the be-all end-all of investments." He says Ramsey only recommends growth mutual funds. I listen to his book last week and I remember him saying to invest in four different types. Hamm seems to suggest something like Vanguard, which as I recall, has a better return than anyone but Warren Buffett, but a tiny fraction of the overhead.
"Do not cut your retirement savings during the initial push to pay off debt." Hamm says to match employer contributions and then pay down your credit cards with whatever may be left. I would really want to run the numbers on that.

https://www.thesimpledollar.com/five...h-dave-ramsey/

What do I know? I owe more than a year's salary, but I am trying to figure out the best way to fix that.

11-05-2017, 04:24 PM	#31 (permalink)
Xist Not Doug Join Date: Jun 2012 Location: Show Low, AZ Posts: 12,230 Chorizo - '00 Honda Civic HX, baby! :D 90 day: 35.35 mpg (US) Mid-Life Crisis Fighter - '99 Honda Accord LX 90 day: 34.2 mpg (US) Gramps - '04 Toyota Camry LE 90 day: 35.39 mpg (US) Don't hit me bro - '05 Toyota Camry LE 90 day: 30.49 mpg (US) Thanks: 7,254 Thanked 2,229 Times in 1,719 Posts	The road to Heaven is paved with good intentions. "I realized that on most issues, I agreed fully with Dave." Someone asked how he disagreed: "A 12% annual rate of return in stocks is not realistic." "Warren Buffett’s long term prediction that stocks will return about 7% annually." If you invest $100 a month for twenty years, at 7% you would have $50,753.64. At 12% you would have $91,121.11. If you do this from when you turn 18 until you are 65, you would have $198,502.47 or $687,461.97, depending. Personal responsibility is the problem, not credit cards. "A $1,000 emergency fund is[n't] enough if you’re paying off credit card debt." He says that emergencies could easily cost more than $1,000. Sure. Hopefully, you could use those credit cards again for the duration of the emergency, and you should have less interest. "`Growth' mutual funds are not the be-all end-all of investments." He says Ramsey only recommends growth mutual funds. I listen to his book last week and I remember him saying to invest in four different types. Hamm seems to suggest something like Vanguard, which as I recall, has a better return than anyone but Warren Buffett, but a tiny fraction of the overhead. "Do not cut your retirement savings during the initial push to pay off debt." Hamm says to match employer contributions and then pay down your credit cards with whatever may be left. I would really want to run the numbers on that. https://www.thesimpledollar.com/five...h-dave-ramsey/ What do I know? I owe more than a year's salary, but I am trying to figure out the best way to fix that.