/biz/ - Business & Finance

>>58393110
yes

>>58393110
yes especially since according to the fed, inflation is 3.5%, so at a maximum your real finance apr would be 2.5-4.5% and real mutual fund apr would be 6.5% (although in reality, your earning power will likely go down either way, but less so if you are using credit)

the problem with credit is that normies cant into compound interest and end up getting to a position where their payments aren't even hitting principle

>>58393202
That doesn't make his advice any less moronic. Why do people worship him?

>>58393110
his advice is risk reduction for the lowest common denominator that is too stupid to have any self control with debt
if you're here and financially successful, you are probably autistic enough to act rationally with debt - the majority cannot do that

>>58393144
he used to be superman

>>58393294
no it makes it more moronic, since in reality, if you want to purchase a house for example, housing price inflation is over 6% nationwide and easily over 10% in most cities, and if you are buying a house in cash, you're almost definitely going to be spending more than 30% of your annual income on the house, which means in terms of purchasing power, if you have good credit, car loans effectively have a negative interest rate, and the only way your purchasing power could possibly increase by cash sitting in a mutual fund is if you financed your house. so the advice only applies to people making 7 figures and buying a shitmobile for 20k one year and a shitshack for 100-200k the next year

>>58393294
The majority of the population is mouth breathing tier retarded and can't control their impulses. So for them, his advice is unironically good because it keeps retards with no impulse control away from leverage.

>>58393110
His advice is for literal retards. If you can manage the not-so-herculean task of owning a credit card and paying it off on time then yes, you are correct. Most people are actually fucking retarded and can't do this though.

>>58393378
it might be good but it's dishonest since none of those people can afford to buy a house in cash. what does he say about renting? you have to live somewhere. does he suggest buying a cheap van and living in it until you can pay cash for a house?

>>58393110
He has to stick to his brand. The advice is only good in high interest rate environments, like back when he was a kid. He was telling this braindead nonsense to people when loans were 2-3%. The only thing he's right about is avoiding credit cards but every retard knows that.

>>58394031
>The only thing he's right about is avoiding credit cards but every retard knows that.
Why? You do know jews don't pay back their loans?

We listened to Ramsay and it saved our marriage and life. Scaled back drastically until the point where we were eating beans and rice literally and not spending any money. It became a fun game for hubby and I to see how much we could save and how much money we could get from people like loose change etc. Anything we weren't obligated to pay back. We did this for about 4 years cut out almost every bill, got donations, and saved up around 380k. That was 7 years ago and we talk about what if we had scaled back for 7 years instead of 4 we'd probably have had close to a million dollars. Ramsay knows what he's talking about he's only trying to help since he's been there before.

>>58393397
he's ok with people having a mortgage for a house, and encourages them to pay it off in 15 years instead of 30.

>>58394088
Ramsay's advice works - to an extent. If you're looking to get out of debt and you have high cash flow (which seems to be the case with you), it'll do it for sure.

Problem is Ramsay has the same advice for everyone no matter their personal situation. It's just there are a lot of people with overwhelming debt to income ratios in the US who can't get ahold of it outside of his highly regimented system. Not everyone is like this though - as one poster pointed out Ramsay was advocating Boomer "20% down, 15 year mortgage" in an age of 2.5% mortgages and would not accept FHA/VA loans deserved special consideration. There are probably a lot of people who missed out on home ownership and would have been perfectly fine with a 30 year at 3% versus trying to play catch up now putting together 100k and financing a 500k "starter home" on a 15 year mortgage.

>debtmaxxing retardchad who bought several RE investments in high value markets with his crypto/GMC investments which Ramsay would have screamed about

>>58394088
>We listened to Ramsay and it saved our marriage and life. Scaled back drastically until the point where we were eating beans and rice literally and not spending any money. It became a fun game for hubby and I to see how much we could save and how much money we could get from people like loose change etc. Anything we weren't obligated to pay back. We did this for about 4 years cut out almost every bill, got donations, and saved up around 380k. That was 7 years ago and we talk about what if we had scaled back for 7 years instead of 4 we'd probably have had close to a million dollars. Ramsay knows what he's talking about he's only trying to help since he's been there before.
Yikes please kill yourself troon

>>58394150
That "high cash flow" came from us first selling his family's house he inherited(220k). I definitely shouldn't have left that out so really we saved around 160k money wise in 4 years, doesn't really sound like much but it is, neither of us still don't make a ton of money.

cant you just imagine that dude eating an entire log out shit out of a black prostitutes ass?

>>58393110
This guy gives advice to the bottom feeders, the low IQ, the people without impulse control.
If you're intelligent and rational you can see through this and you can tell his advice isn't for you.

>>58393110
Yes but imagine making a youtube channel about that. Youtube is about casting a wide net now. We are literally at "man gets hit in nuts" timeline. Now shut the fuck up and go park hunting

>>58393110
imagine cucking to banks so hard