4 ms·

I have concluded that, in the USA, most ordinary folks have, much to their detriment, never heard of Dave Ramsey. https://www.daveramsey.com/blog/the-truth-abo

• logfromblammo 8y ago
  "Cash for Clunkers" took a lot of wind out of this particular sail. It crippled the used car market for years, and propped the door wide open for predatory "buy here pay here" auto sellers. Nevertheless, I haven't had a car payment for so long that I can't remember the last time I paid one. Trips to the mechanic are frequent and costly, but at least I'm not uselessly paying interest. I'm surprised Ramsey can have a successful national brand saying little more than infinite variations on "spend less than you earn", but there he is, and I guess some people need to hear it like that.
• athenot 8y ago
  He's a mixed bag. Some sound advice, in particular the parts about living within one's means; but there's also things that are utterly unrealistic, like: > If you were to invest that (...) into a good mutual fund with a 12% rate of return, you would have over $100,000 in 10 years! At 20 years, you would have made $470,000. And at 30 years? That mutual fund would be worth $1.6 million! Maybe I'm not savvy enough but I have not encountered mutual funds that will reliably sustain 12% over three decades.