Quote:
Originally Posted by Scanner
Dave Ramsey, Dave Ramsey, Dave Ramsey!!!
I'm going to explode if I hear his name one more time.
There was another author. . .George Clason. . .he wrote The Richest Man in Babylon.
The main prinicple of this book was:
1. Pay Yourself First
There is always someone with their hand out - the car mechanic, the doctor, the student loan service company, the Girl Scouts, etc.
You can always find someone you owe something.
If you don't pay yourself first (the 401k in question), you will never accumulate wealth.
You'll just acheive a zero sum net worth following Dave Ramsey's advice.
You'll have no liabilities.
But you'll have no assets either.
I don't know about some of you, but some years with my family, our Roth IRA contribution at the end of the year was all we had to show for our hard work. I'll be darned if I would let a TV entertainer tell me to not pay myself something per year.
|
DAVE RAMSEY!!! There I said it. Have you exploded yet? Darn!
I have used DR methods the last 10 months or so and have paid off over $30,300 dollars with at the time a house hold income of about $60,000 dollars and paying around 11% of our gross income to tithe at church and am now debt free (besides the mortgage). Now we are building wealth, we have assets and my wife and I did this without paying our selfs first. Now we pay ourselfs a WHOLE lot more now. And we only sacificed 10 months. His plan is to pay off debt (non mortgage) as fast as possible then begin fully funded EF (the full 3-6 months), investing, 401K, Roth IRAs, etc. Please don't knock someone because you don't like them. Thank you.