Dave Ramsey, debt, credit cards, retirement, etc

[550/440]

Yep, the sooner the better, it pays in the long run. Just get in with good companies, and don't try to be a day trader until you have the time to spend researching.

 

[Joker]

What companies should I look into

 

[550/440]

My employer uses Vanguard, but my personal investments are REITs and with TIAA-CREF. Both have done well over the last 10 years.

 

[Scraggly]

I'm almost 32 and have nothing setup for retirement other then my wife is employed by a ESOP and banking on that paying off long term. I've been very wise with my money the last ten years but keeping a decent savings and living life has taken the rest. Really wish I had something in place at 21 even a 100 a month is much better then nothing IMO.

 

[OCD Solutions]

I started investing late but thankfully still during some of my best earning years. My only regret is not starting earlier, even 5 years earlier would have been huge for me.

 

[SuperJETT]

Dave Ramsey always says to quit worrying about what you could have done and start, now, no matter how old you are.

 

[OCD Solutions]

Yup! Take what you learn and move on.

 

[Ducky]

My employer uses Vanguard, but my personal investments are REITs and with TIAA-CREF. Both have done well over the last 10 years.

Heck yea!!!! I work for TIAA-CREF. Honestly, one of the best companies to have your money/life insurance with.

 

[Quinc]

I currently have Vanguard, PNC, and Fidelity accounts from different employers. For the last 2 years Vanguard has been doing the best.

 

[Quinc]

With OIL ETF's down significantly anyone thinking about jumping in?

 

[550/440]

I've definitely been thinking about it, but I have not pulled the trigger yet. I am kind of glad that I didn't, as it dropped more yesterday.

 

[550/440]

DRYS did well for me the last few weeks... until yesterday.

 

[OCD Solutions]

My Father had always said, never invest in what's hot now, invest in what's going to hot next. So, if oil is down, shouldn't alternative fuel sources be as well? Hydrogen? Nuclear? Solar? Cold Fusion?

 

[550/440]

Oil for the long term, it will come back.
Our oil workers going on strike will have some effect on gas price, but not oil prices. OPEC won't carry on for more than a couple years, then prices will climb again.

 

[jetpilot08]

Im looking at getting some oil shares? Whats good? Should I focus on one company or spread it out over a few diffrent ones?

 

[Quinc]

Cant go wrong with XOM and CVX. Doesn't look like they dropped much if at all though.

 

[SuperJETT]

In December 2005, we started Dave Ramsey's Baby Steps. The first big thing we did was to sell my 2003 Honda Element and get a 2000 Honda Accord. It used less gas, could seat 5 (we had just had our 3rd kid) instead of the Element's 4, and knocked a few thousand $$ off our debt.

We just sold the Accord. 251,000 miles, looking like it, but it was a great car---very cheap to maintain, completely reliable. 9-1/2 years is definitely the longest I've ever owned a car. We bought a Volvo wagon to replace it and paid cash for it. It turns out the Volvo actually gets even better mileage than the Accord and has way more room plus all the fun stuff like heated seats.

Here's the Dave Ramsey sticker in it's current state after 9 years of driving and what it looked like originally.




Screw car payments...

 

[Ducky]

Nice!!! My family had a 2000 Accord V6 that we got 260k out of...it was the best car you could ever own. Brakes, Tires and Oil is all it ever needed.

 

[Mark44]

Very good, I recently bought a 1997 Toyota corolla after someone ran a red light and totaled my 2006 scion xB with 250,000 miles on it. The new to me Toyota has 139,000 and gets 38 MPG. Love that car and the savings and I could buy any car I wanted too that is if I wanted too.

 

[bird]

Question: How many of you plan to ride jet skis after the age of 55? (You're only young once, live it up now.)

I sold my 97 Chevy Lumina with 324k to some old man, he might still be driving it! Best car ever made, cheap everything, parts available everywhere, and if you fixed the intake gasket the 3.1 was maybe the best Chevy engine ever built. I got 30mpg highway or 27 pulling the jet ski. I still miss that car. Now I drive a Suburban, and everyday it makes me happy just to get in my dream car.

I'm sorry but Dave Ramsey is full of bull. After college I had credit card debt, instead of paying down the lowest payments... I opened up 0% CCs and floated all I could to them. I then took out a 401k loan and paid any existing credit off. Doing that saved me over $200 a month in interest. Do you guys get investment knowledge from Warren Buffet too? It's for people with bad habits and mindless spending, not determined individuals who can set goals and follow them.

The whole retire early thing is a farce/ploy. Even successful seniors still work(double pensions, part time, research, master plumber/electrician). They get bored or they're investing in their free time, etc. You'll never retire.