/biz/ - Business & Finance

[Anonymous No.29225071]

>he thinks he can cash out internet funny money
>he doesn't eat rice and beans every day
>he doesn't have 6 months' gross income (minimum) in an emergency fund
>he doesn't pay off debt using the snowball method
>he doesn't think slow and steady wins the race
Who here is Ramseypilled, and who here is ngmi?

[Anonymous No.29225498]

It's in code

[Anonymous No.29225697]

>>29225071
6 mos gross income? 6 months expenses should be more than enough to recover from any unforeseen catastrophe.

[Anonymous No.29225774]

>>29225071
boomernomics don't apply to the new economic paradigm

[Anonymous No.29226207]

>>29225071
The people who hate him are people unwilling to make sacrifices.

[Anonymous No.29226430]

Bump for distorted Ramsey memes

[Anonymous No.29226750]

>>29225071
Im debt free except for mortgage. Not sure I agree with his "pay off mortgage" as soon as possible mentality. I understand the why but I prefer to invest that extra money instead. Paying off the mortgage early takes time and depletes alot of that extra income coming in every month. This is the only step that might be somewhat outdated. Anyone else agree?

[Anonymous No.29226851]

>>29225071
>CASH OUT TUH-DAY I DARE YA
>OUTPERFORMING THE S&P
>FUNNY MONEY

[Anonymous No.29226927]

>>29226430

[Anonymous No.29226976]

>>29226750
This is the problem his entire philosophy
You need money to make money
People who have lots of money are in debt. It’s just a mechanism for having more to invest to get larger returns

[Anonymous No.29227014]

>>29226750
> Im debt free except for mortgage.
Stopped reading right there. Just read that out loud, just do it for me. You stupid fucking retard. Also, grabbing a quick cap of that to remind you how fucking stupid you are.

[Anonymous No.29227032]

>>29225071
>Schedule a meeting with my team of advisors who will put your money into the Dave Ramsey, high expense, fund. You trust old Dave right?

This nigger is as bad as Tony Robbins

[Anonymous No.29227104]

>>29227014
Congrats on your 100 IQ

[Anonymous No.29227145]

>eating rice and beans every day
HOW LUXURIOUS, look at this everybody! This shmuck eats every single day! NGMI.

>>29225697
I think it's better to have a proper emergency fund, not based on income or projected expenses. Warning, schizo ahead:
>cash enough to get off continent in the top three most common currencies (for me, USD, CAD, and peso)
>guns, ammo, emergency food supplies
>extra gas for the car so you don't have to stop at gas stations in the state where you leave from
>extra phone, etc

>>29226207
I didn't know about him at the time but I basically did what he advises to pay off my student loan debt and it was kind of a mistake. I should have been dumping at least half of what I was putting into loans into crypto instead. But hindsight is 20/20 so I don't lose sleep over it, just good to know for the future and for my siblings who are also dealing with debt.

[Anonymous No.29227249]

>>29226750
I understand the numbers with the mortgage yada yada. The argument is your mind set changes when your debt free mortgage and all. You are truly free, minus utilities and taxes. You make different decisions when you don’t have a $1,000 payment each month and you know the roof over your head will always be there.

[Anonymous No.29227266]

>>29227014
Most people don't distinguish between debt backed by collateral (eg mortgage) and debt without collateral (eg credit card, student loan). Debt backed by collateral is good because it lets you acquire more assets and build wealth. Debt without collateral is slavery chains for wagies.

[Anonymous No.29227328]

>>29227104
I want you to read that out loud too.

[Anonymous No.29227330]

>>29227014
Ok renter, let me expand a little so you can learn something today. Mortgage debt is not "bad debt" when I can sell the house for 150K profit. I still owe on the debt but real estate can actually be a good investment for some.

[Anonymous No.29227354]

>>29225071
I'm worth more than him and his family will ever be thanks to Link. I made it in three years and my dick still works at full capacity. Suck my dick, boomers. We are going to take everything from you

[Anonymous No.29227355]

>tfw $15k in debt to buy more crypto

[Anonymous No.29227393]

>>29226976
then what's the point of that extra income if you've got debts to cover at a later date? i'm assuming just don't pay them

[Anonymous No.29227401]

>>29225774
this

[Anonymous No.29227505]

No Dave is right for the most part. I am debt free except I do have two lines of credit that I keep 100 to 200 dollars on for my credit score. He is right when it comes to things like people who buy new cars and live beyond there means. The only problem is that our debt based economy is about to blow up so if you arent in gold, silver, and cryptos you will be badly hurt. It makes me sad that lots of people will not be able to keep there standard of living in the future. Hopefully I can get 20 acres of land with four kilos of silver in the near future and me and my family will be able to make it to some degree. But yeah don't have a fuckton on consumer debt and new cars that you cant afford don't be a moron.

[Anonymous No.29227874]

>>29226750
My issue with paying off a mortgage quicker is inflation. If my mortgage is $800 today that is a decent chunk of money, but in 15 years not so much. It seems smarter to pay mortgage off over longer timeframe if interest is low.

[Anonymous No.29227946]

>>29227401
>that pic

[Anonymous No.29228016]

>>29225071
He has solid points for the average consumer and the risk averse. I held VTSAX for 3 years and my annual yield average was only 6%. I have held 3x leveraged etfs for 2 years and I’m averaging 40%+. I cashed out of vtsax because I don’t to take 40 years to retire. I am 28 now and I’d like to be retired in 10-15 years max so I gamble crypto and 3x etfs the rest. I can sell covered calls on TQQQ that yield more than vtsax if I want my version of dividends. All of my expenses are put on a CC except my mortgage and it’s paid in full every month down to a $1 so that if something happens or I want to free up my working capital/monthly obligations - I can just term out a loan to buy a new furnace or build a patio. Life is too short to be debt free with no passive income/growth at the age of 60. Social security should not be your goal and tax mitigation is easier to do than wait for your 59.5 birthday to cash out retirement accounts

[Anonymous No.29228024]

>>29227874
Uh yes. 100%
You will be far, far wealthier investing in stocks than paying off a mortgage

[Anonymous No.29229118]

>>29227393

Say you have all of your savings in investments already, but you hear of another investment that can make you 8% a year.

Without debt you would make 0 dollars on this as you can't invest in it at all.

However, you borrow $1000 at 3%. At the end of the first year you have $1080 made from the investment and only owe $1030. You just made $50 using debt.

[Anonymous No.29229438]

>If you play your cards right, spend 5 years and put in time and legal risk you can break even on real estate. Bitcoin? woah there... that's too risky.

[Anonymous No.29230274]

>>29229438
They’re infected with the jewscrapers now.