It's a slow day in the boiler room. We had nothing else to talk about.Lots of good, informative posts in this thread. Am I really on the ODT?
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It's a slow day in the boiler room. We had nothing else to talk about.Lots of good, informative posts in this thread. Am I really on the ODT?
He was millions in debt, and came up with this idea that ended up getting himself not only out of debt, but very wealthy now. Yes his methods do cater towards those drowning in debt, but his principles can easily be applied to those not in debt and help you stay away from getting in to the kind of financial trouble he did. It sounds like you're doing pretty well already with what you're doing. Long story short, some people can't save money or handle their finances and his advice is pretty solid for them.I know nothing about the Dave Ramsey method/methods. The only debt I have is a mortgage that is maybe 10% paid off. I contribute to a matching 401k and have another Trad IRA I contribute to regularly. We pay 10% extra on our mortgage every month. (30 year)
Is there anything moreI can learn from Dave Ramsey? I get the impression he is for folks swamped in debt. (Student, CC, car loan, etc)
Insurance on loans is a crock. My advice is you can still borrow if you're living within your means. Don't finance a house that's over your budget. There is such thing as responsible credit use. I've been doing fine. Plenty stashed away for savings, retirement, and emergency funds.If you borrow money, how much are you paying for A&H insurance on the loan? If you get bad sick or injured how you gonna pay the note?
Yes, I once sold loans
I wasn't even planning to "flip" . We were about to get married and had about a year to look for deals. We got with a good real estate Lady and told her what kind'a money we wanted to spend. Ended up finding an all brick full electric ranch in a Golf community for $50k (this was 1994 but we bought the hudd we are in now for the same amount) . You can expect to put new floors,roof,and paint into it for that kind of money and the more work you do yourself the better. It's hard to find a woman that will be ok with all that LOL We knew we didn't want to stay in our first house when we moved in.I’m interested in flipping some houses.
Take the dive. I've finished all of them and living debt free five years. Budget, mind set and stay committed to it.
When your friends are paying done their 60k trucks, you will be on a elk hunt out west or in Hawaii.
Insurance on loans is a crock. My advice is you can still borrow if you're living within your means. Don't finance a house that's over your budget. There is such thing as responsible credit use. I've been doing fine. Plenty stashed away for savings, retirement, and emergency funds.