Financial Tip of The Day

[Huntingfool]

some folks will not like this post.

End of the day all of your financial decisions are on you. You should not need a Dave Ramsey to describe to you how to take care of YOUR business. The secret is ....... there is no secret. It is all common sense and you do not need a dude on the radio telling you how to live your life.

Be smart. Have some financial discipline. Do not spend money you do not have. Do not charge credit cards with money you do not have. Work hard and save some of your money. If you do not have a job that pays you enough then go find another job that does. If you really want to be financially independent then consider taking the risk of owning you own business. The vast majority of wealthy people in this country got that way by being self employed - my 2 cents

[Mike D]

I didn't know that investments always make a good return. But every time I look at one of these charts they always do. That's simply amazing! I must be the only person in the world who has actually lost money on some of my investments.

Yep, there are so many holes in that scenario posted.


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[mikemorvan]

Seems to be some differing opinions….

[boy wonder]

I didn't know that investments always make a good return. But every time I look at one of these charts they always do. That's simply amazing! I must be the only person in the world who has actually lost money on some of my investments.

No, there’s 2 of us (:.

[Ætheling]

Land in TX is increasing exponentially beyond what the stock markets could ever dream of doing. Selling land right now barring an emergency is insanity. I wont speak for the stock market. It’s garbage rn but reinvested dividends in a long term compounded interest plan aint gonna hurt one bit in the long run.


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[M16]

They’re using a 30 year timeframe in that chart. The s&p 500 has never been negative over any 30 year period and returns average over 10%/year.

I get that. But do your investments do exactly like the s&p 500? I don’t have access to insider trading.

[scott123456789]

I get that. But do your investments do exactly like the s&p 500? I don’t have access to insider trading.

You can buy S&P500 funds from all major brokers.

I am committed to the total market but they track very closely to the S&P. You don’t need insider trading, and expense ratios are nearly zero so it costs you nothing to invest.

[gingib]

This is on point. Debt should be used as leverage. Attached is a tale of cash vs leverage.



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99% of Americans will not use that savings and invest it tho! Let's be serious

THey will go spend it on that new F250 they need to drive to work

[Huntingfool]

99% of Americans will not use that savings and invest it tho! Let's be serious

THey will go spend it on that new F250 they need to drive to work

Correct and that is why a guy like Dave Ramsey has followers - many are not able to be disciplined about their own finances so they have to rely on someone else to tell show them every step of the way -

Heard a speaker some years back who talked about people not saving for their retirement or following a budget. He said "does anyone think that those 70 year old greeters at WalMart want to be there?"

[eastover53]

It’s hard to put a dollar figure on the peace of mind that you get from being debt free.