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I didn’t read the article. If you want to become wealthy without learning a ton about finances then read the total money makeover by Dave Ramsey or spend a few
by jmathai 4y ago
I didn’t read the article.
If you want to become wealthy without learning a ton about finances then read the total money makeover by Dave Ramsey or spend a few months listening to his podcast (go back a couple years before some of the new personalities who will be replacing him have started to come on).
Then, if you get curious enough to learn more advanced topics (don’t look to Dave for these) then head over to boggleheads.
The path to wealth is boring consistency. But it’s a much shorter path than most people think with the right discipline.
- cman1444 4y agoI really don't think Dave Ramsey is a good source of information for very many people. The debt snowball method is the best example of this. There's no reason anyone should be employing that strategy unless they just need the mental satisfaction of paying off "a debt" to get on the right headspace to pay off the rest.
- jmathai 4y agoThat’s a common counter argument. But if you listen enough then you understand that he (correctly) identifies that personal finance is more psychology than math. And the aggressive debt repayment he advocates makes the accrued interest trivial. People who follow his plan pay tens of thousands of dollars in debt off in 1-2 years on modest incomes.