Poll

What baby step are you up to?

$1,000 Rainy day fund
Pay off all debt using the debt snowball
3 to 6 months of expenses in savings
Invest 15% of household income into Roth IRAs and pre-tax retirement (401k Etc.)
College /Simcha fund for children
Pay off home early (prepay mortgage)
Build wealth and give!

Author Topic: Dave Ramsey Plan  (Read 11838 times)

Offline ExGingi

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Re: Dave Ramsey Plan
« Reply #150 on: July 24, 2020, 02:13:24 PM »
You left out losing the Cadilac of heath insurance. the child care benefit mentioned by @ExGingi may be location based.

The bottom line is that the welfare state is designed as a honey trap. They make it very difficult to get out of it as incremental increases to self-reliance turn out to be highly detrimental to what's provided by the government. Just look at the difference at the cost of healthcare available in the individual marketplace in NY between someone that's earning up to 200% of FPL and someone just above. While just above might have subsidies, all of the sudden deductibles and co-pays are up, and even with the subsidies the monthly premium is significantly higher. Or look at Child Health Plus. up to 400% of FPL one can get it somewhat subsidized at a maximum family cost of $180/month ($60 per child, with a family max). Go over 400% and it's $280 per child per month.
I've been waiting over 5 years with bated breath for someone to say that!
-- Dan

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Re: Dave Ramsey Plan
« Reply #151 on: July 24, 2020, 02:14:12 PM »
Your intend was to blow off my posts by "who cares" and "This is really all that matters".
Your intent was to show that people only care about and all that matters is if the plan works.
I pointed out how illogical that is and your response was you never said that. You said exactly that!!!
The problem is the posts are there for everyone to see.
Not lets move on.
Yes our posts are there for everyone to see and I am therefore not going to continue arguing agains your illogical arguments. The logic behind what I wrote is very clear to anyone willing to see. You want to go on the hamster wheel di it yourself I will not join you.
Just because things turned out a certain way doesn't mean you were right.

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Re: Dave Ramsey Plan
« Reply #152 on: July 24, 2020, 02:18:09 PM »
While I've found this recent blog post that might address some of your questions, there is an important issue that jumps at me at the set of assumptions you've presented.

I don't know what the starting age you are assuming for this, but you do mention a 30 year term (not mentioning how much, but I'm assuming you're talking about $1MM, even though you seem to be assuming $3MM capital at retirement, so why would you insure for any less than that, especially if a premature death would mean that the capital is needed for a longer period of time) while you keep on talking about ANY given 40 year investment period. So what if year 31 of that given investment period suffers a significant market crash (yes, if the investment isn't touched for the next 10 years there might be a spectacular recovery, or it might take longer like the Nasdaq after the dot.com crash or the Nikkei 225 post 1989, a high which it has never recovered)?

If nothing else, take out of this that a diversified stock portfolio does not mean that your assets are diversified.
Just because things turned out a certain way doesn't mean you were right.

Offline CountValentine

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Re: Dave Ramsey Plan
« Reply #153 on: July 24, 2020, 02:18:43 PM »
Yes our posts are there for everyone to see and I am therefore not going to continue arguing agains your illogical arguments. The logic behind what I wrote is very clear to anyone willing to see. You want to go on the hamster wheel di it yourself I will not join you.
No need for the hamster wheel since you now are chaining your tune that other things do matter besides if the plan works.
You're so far up Trump's a** you can see Giuliani's feet.  HT Baruch

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Re: Dave Ramsey Plan
« Reply #154 on: July 24, 2020, 02:20:33 PM »
No need for the hamster wheel since you now are chaining your tune that other things do matter besides if the plan works.
The change is nowhere but in your own mind.
Just because things turned out a certain way doesn't mean you were right.

Offline CountValentine

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Re: Dave Ramsey Plan
« Reply #155 on: July 24, 2020, 02:33:09 PM »
The change is nowhere but in your own mind.
So you don't want to keep going? I guess you misspoke again.  ::)

Talking about if the plan works or helped people.
This is really all that matters.
Who cares.
All that really matters is whether or not it works and not any of these other side shows.
What makes it a good plan is if it works.
...but you never said any of that!!!  :)
You're so far up Trump's a** you can see Giuliani's feet.  HT Baruch

Offline Kobe bryent

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Re: Dave Ramsey Plan
« Reply #156 on: July 24, 2020, 02:38:16 PM »
Considering that this is a service he offers, that would make sense. I have given similar advice to someone and told him that if having an advisor to speak to is what will get you to actually fund the investment then it is a price well worth the cost.
False.

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Re: Dave Ramsey Plan
« Reply #157 on: July 24, 2020, 02:48:47 PM »
..but you never said any of that!!!  :)
I absolutley said all of that and stand by it.
Just because things turned out a certain way doesn't mean you were right.

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Re: Dave Ramsey Plan
« Reply #158 on: July 24, 2020, 02:49:18 PM »
False.

I'm sorry, profits by endorsing advisors.
Just because things turned out a certain way doesn't mean you were right.

Offline CountValentine

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Re: Dave Ramsey Plan
« Reply #159 on: July 24, 2020, 02:56:36 PM »
I absolutley said all of that and stand by it.
Hopefully you understand what "all" means.
Then what is the the argument? You are claiming about the plan "All that really matters is whether or not it works and not any of these other side shows."
My point that you disagree with is that if the plan works is not all that matters. I can show a MS plan that works for some here but it is not a good plan for them.
You're so far up Trump's a** you can see Giuliani's feet.  HT Baruch

Offline Lou Bob

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Re: Dave Ramsey Plan
« Reply #160 on: July 24, 2020, 03:00:11 PM »
Hopefully you understand what "all" means.
Then what is the the argument? You are claiming about the plan "All that really matters is whether or not it works and not any of these other side shows."
My point that you disagree with is that if the plan works is not all that matters. I can show a MS plan that works for some here but it is not a good plan for them.

for all this talk about MS plans...let's hear something good :)
Always use an Amex, you'll thank me one day.

Offline Kobe bryent

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Re: Dave Ramsey Plan
« Reply #161 on: July 24, 2020, 03:04:10 PM »
I'm sorry, profits by endorsing advisors.
Therefore?

Offline CountValentine

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Re: Dave Ramsey Plan
« Reply #162 on: July 24, 2020, 03:06:48 PM »
for all this talk about MS plans...let's hear something good :)
My course is 2995.00 but if you order in the next 30 minutes it is only 2495.00
Unlike the conman I only except cash.  :)
You're so far up Trump's a** you can see Giuliani's feet.  HT Baruch

Offline Kobe bryent

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Re: Dave Ramsey Plan
« Reply #163 on: July 24, 2020, 03:08:20 PM »
He did a scientific study recently of 10000 millionaires in the country, you can find the data on this but the majority of millionaires in the country pay off their home in 10.2(iirc) years. It may be a weakness to need to see results to motivate you to keep you going but its also pretty normal.
Chris Hogan study.
https://www.amazon.com/dp/0977489523/ref=cm_sw_r_apa_i_qiZgFbCFGN7KH

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Re: Dave Ramsey Plan
« Reply #164 on: July 24, 2020, 03:13:44 PM »
I can show a MS plan that works for some here but it is not a good plan for them.

Is your point that it is not for everyone?
Just because things turned out a certain way doesn't mean you were right.