One other reason I hate Ramsey

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Jan 16, 2021
5:04:36pm

andrewth Redshirt Freshman

One other reason I hate Ramsey

He advises you to get out of debt before you match your company 401k. That's just stupid to me.

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andrewth

Bio page: andrewth
Joined: Dec 12, 2011
Last login: May 9, 2024
Total posts: 303 (1 FO)

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Messages

Author

Time

Paying off debt quickly can be overrated. For example, my buddy and I graduated

1/15/21 10:28am

Leveraging interest rates can work if you don't mind the burden

Archaea

1/15/21 10:32am

It depends on what you do with the money instead of paying off debt. If you

benny1982

1/15/21 10:33am

This. If you just buy stuff, then paying off debt is better.

Archaea

1/15/21 10:35am

People also overrate their acumen when the reality is they just happened to buy

rcbyufan

1/15/21 10:36am

Bull markets turn everyone into geniuses

Big Daddy D

1/15/21 10:38am

Ha ha. SOOO True

Babyboy

1/15/21 10:39am

And bear markets make us all idiots.

Archaea

1/15/21 10:40am

Yeah, having good timing does not mean that "get out of debt" is bad advice.

1/15/21 10:43am

Nice. But recognize that this runaway bull market can not always be relied upon

Big Daddy D

1/15/21 10:37am

Some professions allow for this sort of arrangement; some do not.

Archaea

1/15/21 10:38am

some people worship the Dave Ramsey philosophy of no debt

run26

1/15/21 10:38am

No debt is a fantastic way to live though.

Archaea

1/15/21 10:41am

With a no debt philosophy you can only imagine buying a house.

1/15/21 10:43am

I know a doctor who rented until he saved enough to pay cash

Archaea

1/15/21 10:53am

That's pretty dependent on home size, location, etc.

Eddie

1/15/21 1:31pm

Where I live, appreciation outpaces interest by far. I'm being paid to own.

1/15/21 2:18pm

Me too. I'll admit, I mostly worry for my kids. But I worry for EVERYONE.

Eddie

1/15/21 2:42pm

It also sucks in some ways. the main reason to do it IMO is to force yourself

jkccoug

1/15/21 10:52am

One will rarely be uber wealthy, but one will also rarely be forced to scramble

Archaea

1/15/21 10:59am

One other reason I hate Ramsey

andrewth

1/16/21 5:04pm

Great point. As long as you have a reliable source of income

ForzaPuma

1/15/21 10:48am

I totally agree. I would've totally bought bitcoin at 50 cents had I known...

Cougforgood

1/15/21 10:49am

The fixed 30 year mortgage is one of the best financial tools out there. Keep

SFarkus

1/15/21 10:50am

Yep. When I refinanced late last year...

Eddie

1/15/21 2:46pm

The only reason not to do exactly that is extreme risk aversion.

1/15/21 3:56pm

Yeah but he's a hero and you post on CB.

Mister P

1/15/21 10:51am

You can be a hero and post on CB. Right JL31?

1/15/21 10:56am

Why are so many Mormons dentists?

Fargo

1/15/21 11:00am

$$$$$$$$$

1/15/21 11:50am

They’re all chasing this guy

1/15/21 4:17pm

Unless the economy crashes

Repete397

1/16/21 9:45am

Military dentists make ~130-150k when in payback and accounting for tax

valleus

1/16/21 10:46am

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