Dave Ramsey is WRONG about Investing & Mutual Funds

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Dave Ramsey is WRONG about investing & mutual funds, and Paul will tell you why in the video above. While it's true that Dave Ramsey has helped people get out of debt, we do not agree with a lot of his strategies, including paying off your mortgage quickly and investing in actively managed mutual funds. Check out our thoughts in this edition of "Paul Reacts!"
(Recorded October 14, 2021)
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Richer, Wiser, Happier - William Green
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The Intelligent Investor - Benjamin Graham
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One Up On Wall Street - Peter Lynch
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Beating The Street - Peter Lynch
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The Little Book That Beats the Market - Joel Greenblatt
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The Complete TurtleTrader: Michael Covel
www.amazon.com....
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18 сен 2024

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Комментарии : 400

@EverythingMoney 2 года назад

WARNING: Since we are growing, there are increased levels of scammers impersonating our channel and that create fake accounts. The only thing we offer is our software and our patreon/discord community. The only place we send people to get access is: patreon.com/everythingmoney The real links to our content are located in the description of the video. We never give out WhatsApp numbers and we are never involved in cryptocurrency related things! BE CAREFUL to not call WhatsApp or click fake links. This is happening across the RU-vid platform on many channels.

@billywoods1922 2 года назад

When you do those growth estimates, your not including the once every 8-10 years when there is a big pull back. It doesn’t change the conclusions you made (they are right!) But it is an important factor that needs to be taken into account.

@shapiro5000 2 года назад

Dave Ramsey exists because a lot of people lack the discipline to budget and all the sudden realize they're in trouble. He's training wheels for people who don't have the financial maturity to make a plan and the discipline to stick to it.

@EverythingMoney 2 года назад

That makes sense...he should keep doing that. Thanks for the note - GC

@shapiro5000 2 года назад

@@EverythingMoney yes and everyone else who does have the discipline should use the EM software to make a financial plan and find investments.

@Tential1 2 года назад

@@EverythingMoney nah, I still agree with Paul, he's literally committing financial murder.

@bassmaster1953 2 года назад

@@Tential1 That's silly talk.

@simplydividends 2 года назад

If Dave explains that the way you do then fine but he doesn't. He outright says active funds are basically better. If Dave said a disclaimer that you most likely will do far better NOT paying off your home in cash and investing the rest".

@dividendfire855 2 года назад

Dave: how old are you ? Caller: 35 Dave: okay your gunna have to sell your car.

@simplydividends 2 года назад

That question kind of just handed the win to the caller. Does being older make you better in some way?

@nvass99 2 года назад

The guy that called him out is an absolute legend

@EverythingMoney 2 года назад

Hahaha...agreed 👍- GC

@michaelwener7206 2 года назад

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@michaeltimmunday 2 года назад

Ramsey is more of a lifestyle advisor, than financial advisor. 99% of his content is about avoiding debt, charity and relationships.. Living in a house with no mortgage gives a huge sense of freedom.

@filb 2 года назад

I always thought that Dave Ramsey is a good motivator for people who are terrible with money, but poor when it comes to investments.

@michaelwener7206 2 года назад

Text him

@michaelwener7206 2 года назад

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@michaelwener7206 2 года назад

752

@michaelwener7206 2 года назад

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@jnaugy1074 2 года назад

I don't think Dave could have packed his responses with more logical fallacies. Please have uncle Paul call into Ramsey's show.

@thenutdriver9685 2 года назад

I hope he calls in and people realize how bad he actually is

@jnaugy1074 2 года назад

@@thenutdriver9685 Me Too.

@tamwilfred 2 года назад

I doubt that he would accept his call and air it. It would just make Dave look stupid.

@jnaugy1074 2 года назад

@@tamwilfred Agreed, but one can hope.

@tamwilfred 2 года назад

@@jnaugy1074 Just look at Dave's body language when he was talking to the caller; he was closed off with his arms crossed. He already dismissed him and used a few strawman agruements. I am sure if the caller that would have really challanged him then he wouldn't have aired and published it. I am sure he has a lot of calls that they prerecord and picks the ones they want to air for audienance viewership and his diehard Dave fans.

@NWOALERT 2 года назад

Ramsey always references his mutual funds that average 12%, but he never names them.

@KevinLuWX 2 года назад

I would disagree with the 3% vs 8% comparison. The 8% return is not guaranteed. The s&p 500 could have decades of low returns and vise versa.

@shapeofsoup 2 года назад

Oh man 😂 Shoutout to Paul for vocalizing what every investor with a lick of common sense has been thinking.

@EverythingMoney 2 года назад

Glad you liked the vid - 👍GC

@michaelwener7206 2 года назад

Text him

@michaelwener7206 2 года назад

402

@michaelwener7206 2 года назад

752

@brianshoop9257 2 года назад

Been waiting for this video since it was mentioned on the livestream, Great input. The video about you guys tearing apart dave's mortgage stance was the first of your videos I saw and what got me hooked. Keep it up!

@Krajak88 2 года назад

Paul please... that headphones cable length looks so uncomfortable

@EverythingMoney 2 года назад

😂

@JustinGerrod 2 года назад

😂😂😂

@religionlol7323 2 года назад

Paul needs to call his show and debate him lol.

@LordJon0SRS 2 года назад

Yes he does… 😂

@petervigna3579 2 года назад

That would be epic he probably has screener to try and stop it

@filb 2 года назад

Nah Ramsey would mute him and then make it look like he won the debate.

@religionlol7323 2 года назад

@@LordJon0SRS Dave would probably just mute him and start talking about how Jesus wins in the end.

@felixglasenapp6192 2 года назад

Please do lol

@erinfernandez6945 2 года назад

Investing in crypto now should be in every wise individuals list, in some months time you'll be ecstatic with the decision made today

@marciawolf7721 2 года назад

I see Bitcoin as ultimately becoming a reserve currency for banks,playing much same role as gold did in the early years of banking. Banks could issue digital cash with greater anonymity, lighter weight and more efficient transactions.

@olezkaagapov1052 2 года назад

No doubt mate. I'm also a benefiting greatly with his daily signals and a full time trader now, its been awesome and profitable.

@davidsimeon1140 2 года назад

How do I reach ExpertGoren?

@youngikim9419 2 года назад

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@youngikim9419 2 года назад

ExpertGoren Te le gr am📧📧

@Kilaueaorph4n 2 года назад

Hearing Paul’s advice on growing the wealth over long periods of time 📈with compound interest ⚙️and being suddenly interrupted by a crypto app commercial…STONKS 😎🔥

@EverythingMoney 2 года назад

Fantastic! -💥 GC

@Kilaueaorph4n 2 года назад

@@EverythingMoney YT surely has some room for improvement when it comes to add targeting 😅

@michaelwener7206 2 года назад

Text him

@michaelwener7206 2 года назад

402

@William14094 2 года назад

I love how Paul completely disregards the psychological aspect of money. FOR SOME PEOPLE, BUT NOT ALL: When you’re stressed out with a mortgage hanging over your head, it affects your stress level. Your stress level affects your job performance, which affects your ability to get promoted. The loss of income can have a much greater impact than keeping your mortgage and investing.

@suzieloraine3052 2 года назад

This is hilarious 😂 Great video x Seths impression is fantastic x

@EverythingMoney 2 года назад

Thank you 😁 - GC

@shapeofsoup 2 года назад

That very first impression Seth dropped had me cracking up lol

@MrGiggity890 2 года назад

Caller: Dave, you’re dumb and arrogant Dave: What’s your household income? Lolol Dave actually handled that call pretty well.

@TwoStupidGuysTradeStocks 2 года назад

Dave also doesent tell you what these funds are. He has a network of financial advisors that he refers you to and you bet your butt he gets compensated for that referral! His 15 million dollar mansion depends those referral fees!

@TwoStupidGuysTradeStocks 2 года назад

Seth! I saw this video clip! I agree with the callers sentiment, and I agree it was poorly put. Dave teaches to the least common denominator. If you have a little discipline and self educate regarding financial decision making you can absolutely beat Dave Ramsey’s advice.

@barnes80 2 года назад

Dave’s voice annoys me. Y’all killed this video. Seth’s impersonations we’re cracking me up.

@andrewrolf4910 2 года назад

The psychology of money is something that the dave ramsey plan addresses. Dave doesnt exactly say to pay off your house at the expense of long term saving/investing. Dave says to save 15% in retirement, save for the kids college 529 plan and only then put extra toward the mortgage. I think in painting with a large brush, lots of detail is lost. Well said about taking emotion out of investing. Very hard to do. Love the $spy

@maddogsk8er86 2 года назад

Sorry, but Ramsey is dead wrong on paying off mortgages early when rates are at 3% for 30 years. The reason I found Everything Money is because I was baffled that Ramsey would recommend that strategy at this time. That's nonsense. We've never seen mortgage rates this low, and frankly anyone who has a mortgage should be taking that cheap loan as long as they can. Keeping the cash flow then working in brokerage or other investments.

@Circinus13 2 года назад

Though I think Dave Ramsey is wrong on how to get maximum returns on capital, his advice is excellent at getting and keeping people out of trouble. Paying off your debts, being frugal and putting money in generally safe investment vehicles (instead of a person deciding to yolo everything into crypto) is sound advice for a very large group of people who are financially irresponsible/ illiterate

@donjohnson6036 2 года назад

Dave Ramsey is the financial/life EMS medic that shows up at a train wreck at 4 am during a sleet storm where a drunken truck driver tried to beat the train at a crossing and starts to patch broken.bodies/lives back together. The everything money folks are for those folks who have avoided financial self mutilation, know how to make and follow a budget and are looking to take their game to the next level. Paul, Seth and Moe are correct... concerning the people that are at a point where they can be helped by them. But don’t point and laugh at the medical tech covered in financial mud and gore that just saved a family from financial self inflicted death. My perspective completely. Dave and you guys are a God send for people who are in very different places financially.... but I wouldn’t seat you guys next to each other at a dinner party. ; )

@supaflydann 2 года назад

The irony of an RBC commercial recommending their products interrupting this video... 😆

@oscarpaez9036 2 года назад

I would kill to see Paul show up to the Dave Ramsey show, and debate about mass mutual funds, and paying off your home early lol

@spooler24 2 года назад

Paul - "This guy is an idiot..." 😂🤣 Sighs every time Dave opens his mouth...

@elpipi 2 года назад

I agree with you Paul but what if the stock market goes negative the next couple of years? Having a low but fixed rate of return is not always bad. All calculations are based on assumptions and past returns are not a guarantee of future returns.

@EverythingMoney 2 года назад

What’s up Miri -Mo

@elpipi 2 года назад

@@EverythingMoney what's up Mo!

@eirikriise2969 2 года назад

Hi Guys, Loving the videos, loving the dynamic between you guys, looking forward to when you start with real estate since I have just started with this in Norway and need tips on how to grow. However stocks i also a part of my savings and would love if you made a video showing how you (Paul) look further into a stock after the 8 pillars/stock analyzer. Where do you find data, what data are you looking for. How do you weigh the risk vs rewards and all that. Is this something you could think of having a special episode about? :) I am asking since every time you find something interesting you always say "I have to look further into this". All of these single stock videos might become old quick for those of us who have been following you for a while and perhaps want the deeper dive :) Just a request, stay golden

@lostislander253 2 года назад

I was agreeing with Dave Ramsey until the investment steps also.... you guys are starting to match up with almost everything i'm thinking too...either its dangerous or this is the beginning of an awesome journey!!!

@donnyaiken1556 2 года назад

I don’t think he’s in the same category as the other you tubers. He’s showing people how to manage money better it’s not bad advice it’s just not as good as your method. Telling people to yolo all there money into Bitcoin and overhyped Tesla is bad advice because people will actually lose there life savings. You guys are just using his name to get views.

@Matt-gf4gd 2 года назад

Dave's not an idiot. He has his flaws and oversights like we all do. He's VERY effective at getting people to realize that they're financially in trouble and getting them straightened out. I know, because I listened to a lot of his stuff back when I was on debt up to my eyeballs and spending money I didn't have. I don't think most financially literate people go to Dave Ramsey for investing advice.

@JakeBroe 2 года назад

Great video! Thanks for this breakdown.

@zaptosmedia4707 2 года назад

I am not a big Dave Ramsey fan, but it is so disgusting how small youtube channels use his name for clickbait.

@chate855 2 года назад

I started watching this 3 hours ago, I came back and finished it. When I came back I went to like it again and found that I already did. Great Video. What if you guy's had people call in once a week or bi-weekly. Do 4-10 calls no more than 3 mins each.

@MrMinecraft222 2 года назад

I somewhat agree with you, but the point with the mortgage is not that easy. First, we don't know anybody's risk profile. Second, to assume the market is doing 8% is just the average and does not take the current valuation into account. The shiller PE of the S&P is around 40, that implements a earnings yield of 2.5% (1/40). Let's assume a growth rate of 2-3%, and you have a return of around 4.5-5.5% that is not 8% and is just 1.5-2.5% higher with a more volatile asset.

@realScottThomas 2 года назад

Okay but let's be honest most active funds suck because the barriers to be an active fund isn't that high. It'd be interesting to compare the active funds after filtering out the obvious bad ones that almost no one would select.

@ForgeofSouls 2 года назад

Dave lost me a long time ago, I appreciate what he has done for people with bad financials. However, for someone that has financial sense, hes not the guy to learn from.

@DerMeister821 2 года назад

Yep, I remember a facebook post where he explained the 'magic of compound interest' and used a 'market return of 8%' or something similar. WTF planet is he on. She me that bank/credit union. lol

@robertsalasko3221 2 года назад

Paul, I agree with many of your comments, however, mutual funds are rated over a complete "Bull & Bear" cycle. via the 1-5 star rating for average total return over a 3,5, 10 year period. 15 & 20 years average total return is also covered as well.

@SantaBarbaraAlberto 2 года назад

Completely disagree with you guys! 3% compoumded exponentially over 30 years is about 3X+ thr initial amount 100% guaranteed cost. 8% market return on average is at uncertain risk. It may go up, down, side ways. It's not guaranteed. What Dave is saying is that instead of paying for 30 years plus and refinance every 7 years or so increasing the amount to 5x to 6x the amount borrow. You are better off prioritizing paying off your house behavioral in 10 years then invest 100% for the next 20. Dave Ramsey is right! Pay off the house. The average investor does NOT make the market return.

@nws6146 2 года назад

The average investor easily can though. VTSAX.

@kahlenbranning 2 года назад

Comparing you guys now to a video you guys made almost a year ago; your weight loss journey is incredible. Love seeing the visual difference in both Seth and Paul. Keep it up👍

@moosehead1439 2 года назад

Let Mo speak please, Paul!!! We love your energy but we love Mo too!

@muriellivermore2560 2 года назад

The average person will do well to listen to Ramsay’s advice, but building wealth has changed a great deal since he began. His perspective is 30+ years, with as little risk as possible. His approach is broad brush, I take some and leave some.

@DerMeister821 2 года назад

Let's be real (post debt/budgeting when I liked him)...he built his wealth by being a guru--no different from some magic crystal rock healer selling 'meditation' sessions, the 'fitness instructor selling hot yoga sessions to cleanser your mind and heart and repair chakra pathways, or the "i'mma ex-seal beret hard ass and I get up at 3am, have written 8 books on why I'm tired early in the evening", etc.

@oukastoukast 2 года назад

I like the episode you guys did on emergency funds a couple years ago. so true

@michaelwener7206 2 года назад

Text him

@michaelwener7206 2 года назад

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@michaelwener7206 2 года назад

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@the_walrus67 2 года назад

Dave Ramsey is at best a drill sergeant for those drowning in debt. But is no where qualified to provide investment advice

@EverythingMoney 2 года назад

Sounds legit 😉- GC

@notmyname8865 2 года назад

Thank you for being able to explain this to the common folk! I have been trying to explain this to my friends and family about mutual fund vs index funds for years as well as why you shouldn’t rush to pay your house off if you have a low interest rate on your mortgage.

@AliS-xr5rq 2 года назад

Paul: "What do you think Mo?". MO: "...", Paul: "I cant stand this guy". MO: "Yeah he says alot of...." Paul keeps going. Maybe Paul needs to muted when Mo speaks... :D

@tommaslen1500 2 года назад

Nice video, keep up the good work, also love the collaboration with Jimmy. Would be quite good to see some ‘Mo reacts’ to other day trader videos.

@gdbalck 2 года назад

First thing I did once I was able to allocate contributions, 100% into SPY. Doubled year after compared to previous year of fully managed funds. Haven't looked back.

@EverythingMoney 2 года назад

Good going. Thanks for sharing - 👍 GC

@CyclingDad 2 года назад

Great assessment and review of bad advice. This also just validates my move to get out of the mutuals I have left.

@EverythingMoney 2 года назад

Right on! - 👍GC

@leswhynin913 2 года назад

1:10 I understand why Paul says this, and agree that investment returns can exceed mortgage interest payments, however there is risk that mortgage rates increase while the market returns diminish. Also, mortgages are structured so that the initial payments are almost all to cover interest whereas the final payments are almost all principal. The interest rate at the start of a mortgage can be effectively up to 80% of each payment. Mortgage interest is guaranteed to be there whereas market returns are not. I think paying off a mortgage is a good strategy because it can also free up future cash flow for investments and minimize personal debt risk.

@fusionid 2 года назад

taxes. The interest paid is partially tax deductible. Maxing out 401k is all tax free.

@leswhynin913 2 года назад

@@fusionid I'm not American. I wish I could deduct interest payments on my mortgage. If I could, totally agree with your rationale

@jabbejonsson2773 2 года назад

Great video guys! Have always been confused by his videos and really needed someone to react to him!

@edgonzalez186 2 года назад

I would literally pay PPV to see Paul and Dave arguments match divided in three phases: 1st: logical data (Paul wins in two minutes... Dave explaining his whatever in 90 seconds, Paul explains his in 15 seconds, 10 second countdown, Dave KO'd... Paul celebrates for 5 seconds. 2nd Phase: Just straight out insults to each other without censorship...for three minutes straight. 2rd Phase: Fist in actions!... Yeaaah baby! Mo and Seth must be in Paul's corner... With worried and sweaty faces (q-tips over ears, and towels over head and all that).

@norelfarjun3554 Год назад

Most people are in a situation where this future gain will only put them in a financial vortex of ever-increasing debt. In order to invest (and accumulate profit) without killing your financial future, you need to first be established enough to finance your life in parallel with the financial investments that are aimed at the future

@marineguy4eva 2 года назад

Don't question my RU-vid comments because I've been doing RU-vid comments for a long time.

@MikeSoMoney 2 года назад

Love this breakdown. Dave Ramsey got burned with debt so now he makes millions by scaring other people about debt.

@ziksy6460 2 года назад

True. He leveraged himself to the tits to create a large real estate portfolio and got burned as a result. But then why the hell is he telling average people not to get a mortgage??? Most people are just trying to own a house to live in. Getting a mortgage is a financially sound method of doing that.

@thebankisopennow6378 2 года назад

Great video definitely going to get the app thank for all info

@EverythingMoney 2 года назад

Enjoy it - GC

@allthingsedc7750 2 года назад

Totally agree with you on investing in index vs actively managed funds . Dave is totally wrong he trying to push people to use he’s smart vester pro people so he can get some kick back instead of advising people to invest in index funds on there own. I do believe he is wright on paying of the mortgage early but only because of the emotional aspect not because of the math. Love the show ! Y’all are great and very entertaining!

@EverythingMoney 2 года назад

Cool...thanks for the support - 👍GC

@michaelwener7206 2 года назад

Text him

@michaelwener7206 2 года назад

402

@michaelwener7206 2 года назад

752

@murko1630 2 года назад

When will you make that video about market crashes you promised in Baba stock analysis?

@arentube8123 2 года назад

If you are advocating for the use of passive funds based on the logic of this video, then you cannot defend the idea of picking your own stocks and value investing. Bridgewater's all weather fund underperforms the S&P 500 most years. Does that make it a bad investment?

@MrMuzzle123 2 года назад

Part of your everything money community I sold house payed off mortgage using cash to build new house be mortgage free use leftovers from house sale and new build to invest I wouldn't have been able to invest without sale of house hoping to have 40 or 50k in shares been mortgage free put alot more of wages into shares my situation unique

@TheBobbridges 2 года назад

Yeah I agree with Mo. Dave is really good at getting people out of debt however in terms of investing I think he’s very wrong.

@zdenekreischig1916 2 года назад

I think you are wrong too. This really depends on who are you talking to. If you are rich or have very stable work like doctor...by all means, invest in stocks and don't worry about mortgage. And when crisis hits - you will just buy stocks cheaper. But many people will loose their jobs when crisis hits. They can no longer buy stocks. And they still need to eat and pay mortgage... so they have to sell the stocks in the worst possible moment and it still may not be enough. So very different story and you should ALWAYS have this in mind when you have broader audience.

@njm543 2 года назад

Great points in this video for those who want to take more control of their finances

@EverythingMoney 2 года назад

Thanks for the note - 👍GC

@Jamie77827 Год назад

Why do banks lend at 3% if they can get an easy 8% with index funds? Are they forced to do mortgages by law?

@mikeswanston2779 2 года назад

The savings you receive from going with an index fund instead of an actively managed fund definitely make sense. Does the opinion of switching to an index fund remain the same if you take into account a percentage your employer is contributing to the actively managed 401k? So if I'm contributing 5% and my employer is contributing 2.5% but I'm still paying the high fees and most likely underperforming the market, would the employer contributions offset the losses down the road or even then would it still be worth just switching to an index fund?

@codygalea137 2 года назад

Guess that depends on how high the fees are and the return you are getting on your managed fund. If your fees are 1% a year and your mutual fund underperforms by 2% on average over a long period of time, you are at a 0.5% loss not including year in and year out cost of capital.

@codygalea137 2 года назад

Plus or minus index fund expenses.

@ptnibin123456 2 года назад

It is better to go with employer in this case as you are getting a guaranteed 50% return via employer contribution and adding growth to it....does not matter how low the fees on index funds are, you are not beating a guaranteed 50% cagr. This is the power of interest free debt!!🙂👍

@jeffadams9805 2 года назад

100% agreed with everything you said. If Ramsey is right about his mutual funds he would share the names with everyone. He won't.also the house mortgage you are spot on great job.keep up the great work.

@priestesslucy3299 2 года назад

You could say Dave is getting... _Rammed_ here

@EverythingMoney 2 года назад

Hahaha...you could say that 😂 - GC

@gdbalck 2 года назад

*See* what you did there

@charlesdonald5552 2 года назад

Despite the economic crisis Am really happy🤗my life has totally changed, I’ve been earning $18,000 returns from my $6,000 Investment every 13 days.🤗

@jonesbrown632 2 года назад

I make $32,400 profits on my investment since i started trading with Mrs Elizabeth Armstrong Palmer , her trading strategies are top notch Am winning consistently trading with Mrs Jessica she’s really the best broker I've made a lot of profit investing with her.😀 I still appreciate her good works 💖

@jasonnicholas2652 2 года назад

I have heard a lot about investments with Mrs Elizabeth Armstrong Palmer and how good she is, please how safe are the profits?

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I have also been trading with her, The profits are secured and over a 100% return on investment directly sent to your wallet.

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Please how do I get in contact with her?

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@fanneh94 2 года назад

If you read up on the activly managed funds you"ll find almost none of them deviate more than 3% from the index. That means you"ll pay more for it and it wont even try to beat the index. If you still want an activly managed fund read up to see if the deviation is more than 3%, just then you get a chanse to beat the index

@BringTheRains 2 года назад

Numbers don't lie. Won my subscription.

@RonYates1-m3w 2 года назад

I'm loosing my coins each day, from 1.3 btc to 0.81 btc 😭 I've been trading on my own, haven't made a lot. Please how do I start trading with Mr Adam the broker you mentioned at 9:02?

@benchadwick2085 2 года назад

On Whats App

@benchadwick2085 2 года назад

I've been trading since 2017, You should go on long term investment. I'm a long term investor, I started at the beginning of the year with $10,000 presently I'm having $103,700 on my dashboard, it takes patience.

@stevecollins4362 2 года назад

Wow!! I thought I was the only one trading with Mr. Adam, I just withdrew my profits of $25k after investing $6,500 in two weeks of trading.

@RonYates1-m3w 2 года назад

@@benchadwick2085 Thanks so much, I just confirmed it ❤️❤️❤️

@joevella644 2 года назад

I don't think people realize how much buffet utilized derivatives instead of outright owning

@xaldath4265 2 года назад

Thank you for this. 100% agree. You hit the nail on the head with the 3%/8% focus/shortcomings as well as the any not trash fund manager would look good if you look at the balance after 40 years with no comparison to the market. Ramsey is great for people who have NO idea how to handle money. The problem with debating his advice is that it looks great from the perspective of "it's better than not having any financial advice". Paying off a 3% mortgage does save you money, so it's difficult to convince someone who has done that successfully that it was the wrong decision. Just like it's difficult to tell someone who made money in an actively managed fund that it was the wrong decision. Just like it's difficult to convince someone who paid their debt off with the snowball that the avalanche would have been better. Mathematically, in an emotionless world, there are obvious, simple, and easy ways to be WAAAAY better off long term, but he sells the sloooooow safe path that (unfortunately) is actually a better path for some people because they literally need to be demeaned and treated like a child to get their money right.

@Melaninking33 2 года назад

I already love this channel. This video is an example of what I’ve been saying about this man for years now. His investing advice is crap! Once you get out of debt, throw the book away.

@980616 2 года назад

Opportunity cost Is the most underrated topic but the most important

@rimmyreddy788 Год назад

This is a video where both people are right. Dave Ramsey is looking at it from a psychology perspective. A lot of people who pay off that mortgage isn't going to invest if they don't. Now what you guys are saying is right if most people were finically responsible. If that was the case, Dave wouldn't even have a show.

@amrindersingh6345 2 года назад

Whats the best index fund according to u guys. Watching from uk

@walnutinvesting689 2 года назад

What would Paul's reaction be if someone had 70 percent of their portfolio in an S&P 500 index fund and 30 percent in a REIT index fund?

@naterichards2892 2 года назад

Probably indifferent. Not his preference, clearly.

@teddygoboom1 2 года назад

Never change Paul

@EverythingMoney 2 года назад

Thanks for following us - 👍GC

@josephpalumbo3876 2 года назад

Dave Ramsey also says we should not use a credit card for our day to day purchases. I’ll take the free cash-back and pay the bill in fully every month.

@maddogsk8er86 2 года назад

Hell yeah. Amazon's Prim Card is 5% on all Amazon purchases... and it's free with your Prime Membership. No brainer.

@superhereaux 2 года назад

Was watching this on my streaming tv. I grabbed my phone, logged into RU-vid just to thumbs up because of Seth’s impression of Ramsey. I love it. Side note, did the same when Paul said to “divorce your spouse. Menendez your parents” on a video a few weeks ago. Damnit that was funny.

@firewall8047 2 года назад

Mexican food always cheers everyone up

@ronaldsiscoii5863 2 года назад

So I think an interesting thought here is where Dave is coming from vs where the EM guys are coming from. Correct me if I’m wrong here but I Dave is looking at this from a risk mitigation scenario, he went dead broke. EM guys are looking at wealth maximization. Specifically on the mortgage thing, it’s about eliminating risk. Let me ask an honest question, what’s wrong with both? Im paying off my mortgage on Friday, but I’ve also maxed out my 401k and IRA - if im doing both, why is paying off my house bad?

@warrenking7965 2 года назад

That call was not flattering to Dave or the caller. To be clear, this question of paying off the mortgage only applies to super savers or people nearing retirement age. He advises contributing 15% income to retirement accounts, then fully funding child college funds before ever making an extra mortgage payments. Most people don’t contribute anywhere near this much to savings and those who make it that far are nearly retirement age so they may have a higher ratio allocated to bonds which drags returns down so it’s not fair to compare VTI to mortgage because you’d really be comparing 50% VTI/50% bonds or some variation. If you’re only a few years from retirement, the chances of a correction wiping out more than the value of this hypothetical interest arbitrage is pretty high. This is the stage in one’s life when they don’t have a long runway of compounding left to go.

@Krisowy 2 года назад

I've seen him telling a 70 year old woman that they can turn her 50k into half a million in few years - 50% annual growth wouldn't do that....he's fantastic with frugality, avoiding debt a household money management I think

@taylorleevers8341 2 года назад

You can buy individual stocks in your 401k if you have a "self-directed" option. I believe self-directed is becoming much more common

@mnbvcxzzxcvbnm69ify 2 года назад

Facts. I try to preach this to the people I truly care about. Dave is great with people terrible with money, but just invest in low cost market index funds, and it’s the laziest, quickest way to millions out there

@veeo987 2 года назад

Even on his debt elimination strategy, he advocates for the snowball method. For those who don't know math, it's fine, but mathematically, it's better to do the avalanche method and attack debts from the highest interest rate to the lowest one.

@nhanhuynh2443 2 года назад

the ads popped up right when Paul about to say "Dave Ramsey is very very...", I've had to wait for 30 seconds to hear the punchline 😔

@KatsDad 2 года назад

Dave is not in the real world. He does not need to make a penny of his stock investments because of his real estate. He can let his stock go up and down regardless if he uses managed funds or not. Most of us might get out of stocks at the wrong time, and thus will not make market returns.

@winforyou4630 2 года назад

YES!!!! This is exactly what I tell my coworkers about company run retirement funds that take up all your registered tax free account room but gives you 5% returns!!!! That is a robbery since we do not have a choice or option to opt out. THANK YOU PAUL! THIS WAS THE BEST COMMENT I HAVE EVER HEARD FROM YOU! Them sleezy "professional portfolio manager"

@lasercooper 2 года назад

I’ve managed 100% of my 401k for last 4 years in a Schwab brokerage that our company lets us manage through. And yes I have all stocks.

@EverythingMoney 2 года назад

Thanks for sharing - GC

@naterichards2892 2 года назад

Using a brokerage link?

@lasercooper 2 года назад

@@naterichards2892 yes. We just transfer cash from the 401k to Schwab through our work website affiliate and then we can buy, hold, trade at will without tax implications. Sweet deal.

@naterichards2892 2 года назад

@@lasercooper awesome! My work place uses fidelity. However, there’s a quarterly fee of $25 that was never mentioned up front. I won’t be using it until I have more money in it.

@lasercooper 2 года назад

@@naterichards2892 Hmm. I haven’t noticed any fee to use Schwab. Free trades now but use to be $5 a trade. That got real expensive for me. Don’t trade like I used to but thankfully it’s free when I need to. We have to have a $1000 minimum in our 401k to transfer to Schwab. Soon as I get $1000 in there I move it.

@MPK1881 2 года назад

keeping calm when market is euphoric is very difficult. Its like meditating in a rock concert. The highest price that an index investor pays is patience and avoiding euphoria rewards him dearly in the long run. Remember, in the long run all the euphoria fades.

@shadowr6348 2 года назад

I am an 8 pillar thriller subscriber, I like it when you pick apart poor advisors on you tube like meet Kevin etc, but think you guys went a bit too far on Dave Ramsey. His advice was where I started, and the baby steps I followed up to about 5 and then went my own way. His model is behaviioural as opposed to mathematical, and he makes that very clear. All investment strategies are about risk management, if paying off your home faster makes you feel more secure, then do it. Your home is never yours until you have paid it off. I get the math, x times x to the power of whatever, but I also understand how someone would feel great about owning their own home. Lastly you mock that he is plugging some financial product. But what are you doing, every video you plug your software, time after time after time. Dave Ramsey is no saint, but you are boxing him with all the other con artists out there and I thought you guys were above that. I think that if people want to follow the baby steps, pay off their home, I think that should’ve applauded. Best regards Charlie

@EverythingMoney 2 года назад

Thanks for the great comment. Dave is selling that he knows the secret mutual funds that consistently beat the market (highly highly unlikely over long periods of time). We sell access to software that lets you look at data in a concise way. No secrets or gimmicks. We are selling facts…he is claiming magic. Big diff. -Seth

@shadowr6348 2 года назад

He is misleading in a way in that he says it’s easy to beat the market, I have heard him say that these mutual funds are not hard to find. I agree with you guys on this, over time they are very hard to find. Having a belief that you might be able to beat the market in the short term, well there’s nothing wrong with that. When I give up value investing, when I give up everything money, and when I give up magic formula investing, then I’ll turn to s&p 500, total market index etc etc, and find something else to do with my time. Until then I’m trying to beat the market, not through momentum and hype, but by value. That’s why everything money is important channel to me right now. Cheers Charlie

@bigskypioneer1898 2 года назад

And yes - if no one answered this question from the beginning of the video... yes Ramsey sells people his financial "plans" or "courses" to help them get out debt and manage their money.

@will1o7 2 года назад

I want to start by saying that I am not a dave ramsey acolyte. I am just saying this to get clarification. So are Paul and the guys saying that rather than pay off your house early. You should take that money and invest it(insinuating that Dave's saying don't invest while paying off your house early)? If that is what Paul and the guys are saying then that's not what Dave is known for saying. To my knowledge Dave says to throw any *extra* money at the mortgage while maintaining to invest 15% or more of your income. Can someone please explain respond because I love looking at both sides of a very valid debate. Also I do agree with the index fund philosophy though. I myself invest in VOO and SPY along with some allocation to certain companies that I want more exposure too or that the indexes don't have.

@will1o7 2 года назад

@@Youneedatoe great, I appreciate it. Just by chance, do you happen to know anyone(of great reputation) that has retired and has done the route that these gentlemen(Paul and the guys) are saying so that I can research them. Maybe a book or something. I would love to read more on this route to see the end results that others have gotten from following Paul's and the guy's advice.

@rankup5832 2 года назад

Mutual Funds, ETFS, 2%, 3%....All I could focus on was those wired headphones.

@cooneyshawn 2 года назад

I believe Dave recommends his approach because he knows the real numbers. If people were good at investing, then most people above 50 years of age should have at least $5 mil right now because the S&P 500 between 1980 and 2000s was up over 2,000%! There's only around 8% of people in the US with over $1 mil in assets and a lot of them likely got it from real estate. I don't know the real statistic but I believe it's over 75% of people who inherit large amounts of money lose it by the third generation. Knowing that statistic, it would make more sense for someone to park their cash into real estate because they're less likely to sell it when it drops in value.

@EverythingMoney 2 года назад

Never assume the audience does not understand. Helping people with debts is different than helping people to invest in their future. Thanks for the note -👍 GC

@cooneyshawn 2 года назад

@@EverythingMoney Love the channel and agree with that statement. I believe Dave tends to lean towards the unsophisticated investors because it follows his credit card logic. He knows only a small percentage of his listeners can handle using a credit card so he defers to not recommending it. With your audience they’ll likely understand it better.