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I don't agree with everything Dave Ramsey (not the PA-C one) says. He often says he can find mutual funds with long term track records of >10% returns....I haven't found any. He also pushes managed funds, which I believe seldom come out ahead of index funds, especially when factoring in their higher costs.
I also disagree with him about "never" taking out student loans. While student loans are an enormous burden for too many students who should NEVER have taken them out (we all know that LMSW who makes $30K a year while trying to pay off their $150K student loans for their masters in social work), it is a different story altogether to take out a modest amount of student loans in order to attain a well-compensated degree (MD/DO/PA). While it is possible, like he points out, to get through medical school without student loan debt, you usually have to accrue some other type of significant debt to do so (4 years military service, peace corps, obligation to specific hospital, etc). It's all slavery (in a sense).
The most important thing Dave Ramsey (and probably many others) advocates for is being intentional with your money. If you are not intentional with your money, then it finds a way to get spent, and you are left wondering where it all went. How many of us actually write down financial goals? Do you know EXACTLY how much debt your family has? Take a second and think about how much money you would have every month if you had NO debt payments (no mortgage, no student loan, no car payment, no CC payment, no boat payment).
Do you even know what your net worth is? Do you know how to calculate it? (total assets (all your money + what you could sell everything for) - total debt = total net worth).
If you do, then great. If not, that should be the first step in your financial education.
Nope. he's got more hair than I do.
Interesting that this topic is being discussed. My stepfather (age 73) called me this week to let me know that he had "passed out" a couple of times that day. It happened one other time, about 6 weeks prior. He hadn't sought treatment. I told him to go and get checked out. Said I didn't want him to drive, and reminded him that running over someone's grandchild should he lose control, wasn't worth it. Figured that would strike home, since he has some himself. He and mom live in Canada, I am in Texas, so it's not like I could just run over and check on him. He called today. He went to the hospital that day, and was admitted overnight. On morning rounds, the doctor informed him that he would have to notify the Ministry of Transportation. Now he's kind of ticked that he likely won't be allowed to drive for a while. Too bad, Dad.