“So you paid off your 2.6% mortgage?”“Yes, Dave.”“Knowing you have one of the best rates in the market?”“Yes, Dave.”“And that you’re basically leaving money on the table?”“That’s correct, Dave.”
>>61207734ramsey hates loans tho
>>61207765The story of why is hilarious. He basically went leveraged to the moon buying real estate from a redneck bank that didn't bother to check the risk he was taking on and then when the redneck bank got bought out by a national bank and they saw what Ramsey was doing they cut him off and he went bankrupt.
>>61207788Is that really the lore behind this boomer? He debtmaaxxed into bankruptcy and then started a financial advise show? Are you fucking serious.
>>61207788What a doofus
>>61207734This might sound crazy but there may be a time when it’s hard to generate a 6% as a sure thing
>>61208313selling crack is a sure 50%
>>61208161Yeah. Just google it > Dave Ramsey went bankrupt in 1988 after his real estate empire, which was heavily funded by debt, collapsed. The collapse was triggered when his primary lender was acquired by a new financial institution, which then called in all of his promissory notes at once.
>>61209290Even so, an American fixed rate is permanent. In canada your fixed rate changes every 5 years, even worse in Europe.There's a similar youtube video where a guy had a tractor loan at 0% interest for 25k and ramsey said to just pay it all off at once.Ramsey is the epitome of hubris and will die on his hill knowing his true success was giving out midwit advice to boomers that have a 100k debt at 10% interest.
>>61208161He also tells people to stop living with their parents and to get apartments and shit but gave his kids jobs and houses at his company.
>>61209635In reality explicitly states that a mortgage is the only acceptable form of debt but with a major caveat being that it’s only applicable to a 15 year fixed rate mortgage
