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Dave Ramsey has excellent advice for debt elimination. But how’s his investment advice? Apparently not so hot.
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Rockin. Thanks for the link JD!
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In regards to Dave Ramsey, I think that many people are searching for a reason not to believe him. I listen to his show every chance I get, and he is often trying to explain something as complex as mutual funds in about 30 seconds. The example call that the link mentions was probably up against a commercial break. The author uses Dave’s words exactly as they are, assuming that the caller will take his words the same way. Dave isn’t suggesting that every CD only makes 4% annually, and you will have to pay exactly 50% taxes on the money. He also isn’t saying that mutual funds never lose money (the author acts as if Dave is claiming every fund makes 3-4% when the market is down by 30%). Dave was attempting to show an absurdly good scenario which very well *may* happen.
Dave also talks about mutual funds in much more detail, and many of those details would paint a more accurate picture of why he gave such advice. If someone listens to Dave Ramsey consistently rather than trying to take one phone call out of context, his advice makes much more sense.
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