Quote:
Originally Posted by maat55
I challange right now to listen to his show for 1 month and if you can come back here and tell me he is giving bad advice and harming peoples futures, I will leave this forum.
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Not sure if this was directed at me or not...
First, not asking anyone to leave- multiple viewpoints is acceptable in all aspects of my life except who to sleep with at night.
Second, I said above
Quote:
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we don't knock DR because we don't like him, we mock him because the advice is less than good.
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Less than good does not mean bad, it means less than good.
If DR suggests to someone they should pay down the lowest balance debt first (snowball), that advice is less than good. The same way the two presidential candidates are less than good options... LOL.
It is better than no advice, in some cases. But to be good advice a second sentance is needed- 3 examples.
Assuming you can pay off all debt in 2 years on this plan.
OR
Because you need the cash flow to solve another problem.
OR
Because the difference in interest paid (between highest and lowest interest rate) is not enough to warrant the improved cash flow from this one step.
Or something like any of above.
If he recomends a 15 yr note with 20% down, but person lives in CA, one of those has to give, or person will be renting their whole life- assuming houses average 400k and a 100k down payment is needed (for people whose average salary is 80-120k).
This goes to my mantra-
general problems get general advice and general solutions.
specific problems get specific advice and specific solutions.
Most people need specific solutions (to their problems) and use the general advice of DR which can lead people to make less than good decisions.
Less than good=uninformed.