im working on my baby steps. Anyone else been to Financial peace university? At our levels of pay if we lived right we should be able to retire debt free after 10-15 years of working here. Take my advice don't squander it.
Don't need to and if you heed the advice above you wouldn't have to. Live within your means and you'll be set for life.
Dave is merely talking common sense, and making millions from morons with none. 3.2 mm is great! Congrats. You have common sense and discipline. I got started later in life with Pfizer, but 15 yrs. and 55, 1.5 million with Pfizer alone. Closing in on 2.5 total. Just simple common sense and discipline, without Ramsey. He serves a certain audience and does it well
A big piece of the equation is where one lives. Nowheresville is a lot cheaper than Calif or NY; then if a person has school debt that will hold them up.
Not so. You save 10-20% of you take home pay for 35 years and pay off your student debt ASAP before you turn 26-30yrs old and invest in growth stocks with 8-12% return and people in sales like us that earn well over 6 figures can easily achieve not only millionaire but multimillionaire status. Just plug in numbers into any financial calculator. Actually at out salary ranges, especially if you've been in pharma since your early 20's you should be in the 2-5miion dollar range. The math works that well. BUT, you have to save save save and stay in the market or own lots of real estate. The reason people dont have these success stories are due to making poor choices. They don't save they spend. They don't Budget they just live life without a concern in the world.
I totally disagree. It depends upon what debt and from what school. Most people do not get hired by major pharmaceutical companies at age 22. Capes in many of these towns outside of NYC are $500,000 + and not $200,000 like someplace in Kansas. On top of that take the cost of higher education vs. other parts of the country with much lower cost of living from house insurance plus everything else.
I listen to him on the "I heart radio app" all day. What I see if this. Once your income gets above 60-70k the people that make it debt free send almost half their income to their debts. My only beef as a Christian is that Dave is pushing moms to work. I'm not sure being devt free 2 years earlier is as important as having my wife stay home with the kids. My other big take away is save for your kids. I may not make it to multi millionaire status but my two toddler sons have over 40k each in their own self directed Roth IRA. It won't help them during college but 60 years are from now that 40k will be worth millions and that's what I care about. Thanks Dave
I listen to him on the "I heart radio app" all day. What I see if this. Once your income gets above 60-70k the people that make it debt free send almost half their income to their debts. My only beef as a Christian is that Dave is pushing moms to work. I'm not sure being devt free 2 years earlier is as important as having my wife stay home with the kids. My other big take away is save for your kids. I may not make it to multi millionaire status but my two toddler sons have over 40k each in their own self directed Roth IRA. It won't help them during college but 60 years are freom now that 40k will be worth millions and that's what I care about. Thanks Dave
was blessed to be hired by pfizer at age 22. recently retired at age 55 with 3.2M Dave's guidance + financial common sense = financial independence !! enjoy the journey, the destination is Fantastic!!
you cant do a self directed roth ira for your kids- only the amount you make a year can go into an ira. so unless they are working big time you can't do that
Nothing, nothing looks better than money in your bank..are you working for yourself or is it High Ho , High Ho its off to work I go because I Owe Owe Owe...?
If they are retired, why are so many on retirees on here reading through a Dave Ramsey thread? I started at Pfizer in 1990, and not one of my colleagues ever mentioned Ramsey once in our conversations about money management. Here I see several retirees posting similar numbers, using similar sentence structure, and humble-bragging. Somethin doesn't pass the smell test here.
