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Dave Ramsey was asked a simple hypothetical. Would you take a billion dollars at 0% interest for 10 years? He said no. Not because the math was bad. Because he does not borrow money. Period. No exceptions. And that is the problem. There is a difference between bad debt... show more

Ken McElroy

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19,697 görüntüleme • 3 ay önce •via X (Twitter)

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Dave Ramsey says all debt is stupid. Credit cards, student loans, car payments, borrowing against your house. All of it. He says your income is your number one wealth-building tool, and the second you hand it to someone else, you give up your economic future. He is half right. On credit cards, I agree completely. You are paying 28 to 30% on that. But notice what he never mentions. Cost of capital. That is the whole game, and he skips it. High-priced student debt, fine. But my own loans were at 3%, and they were the only way I got into college. I paid them back over time. That was a good investment, not a stupid one. Where he is dead wrong is real estate. Debt on real estate lets you use other people's money to buy an asset that pays for itself. That is what he misses. His whole philosophy depends on you earning more income. But with wages growing 3% while inflation runs 3%, you never get ahead. You run in place like a rat in a wheel, the exact thing he is warning you about. The only way out is to own hard assets that produce cash flow, and you buy those with debt. Here is the difference between us. He thinks all debt is bad. I think debt is a tool. Good debt and bad debt, high cost and low cost, and that difference is everything. He once said he would not take a billion dollars at zero interest. A billion dollars, costing him nothing. Put it in Treasuries and that is 30 to 40 million a year for doing nothing. He said he would pass. That is lunacy. When I borrow on real estate, someone else covers it. Always. The office building you work in and the Starbucks you walk into all carry debt, and the tenants pay it back. I own a single-family house, my tenant pays off the loan. I do not pay it. I do not need more income. I just need to keep a good tenant in that house. And yes, you get vacancies and turnover and the occasional problem tenant, but that is what management is for. He never had to learn that, because he does not use debt. And here is the part almost nobody gets. It is your money anyway. The cash sitting in your retirement account or your bank is yours. You are just borrowing it back at a lower rate and finding a tenant to cover it. That is why I disagree with him on debt. Used right, it is not the enemy. It is the entire engine.

Dave Ramsey says all debt is stupid. Credit cards, student loans, car payments, borrowing against your house. All of it. He says your income is your number one wealth-building tool, and the second you hand it to someone else, you give up your economic future. He is half right. On credit cards, I agree completely. You are paying 28 to 30% on that. But notice what he never mentions. Cost of capital. That is the whole game, and he skips it. High-priced student debt, fine. But my own loans were at 3%, and they were the only way I got into college. I paid them back over time. That was a good investment, not a stupid one. Where he is dead wrong is real estate. Debt on real estate lets you use other people's money to buy an asset that pays for itself. That is what he misses. His whole philosophy depends on you earning more income. But with wages growing 3% while inflation runs 3%, you never get ahead. You run in place like a rat in a wheel, the exact thing he is warning you about. The only way out is to own hard assets that produce cash flow, and you buy those with debt. Here is the difference between us. He thinks all debt is bad. I think debt is a tool. Good debt and bad debt, high cost and low cost, and that difference is everything. He once said he would not take a billion dollars at zero interest. A billion dollars, costing him nothing. Put it in Treasuries and that is 30 to 40 million a year for doing nothing. He said he would pass. That is lunacy. When I borrow on real estate, someone else covers it. Always. The office building you work in and the Starbucks you walk into all carry debt, and the tenants pay it back. I own a single-family house, my tenant pays off the loan. I do not pay it. I do not need more income. I just need to keep a good tenant in that house. And yes, you get vacancies and turnover and the occasional problem tenant, but that is what management is for. He never had to learn that, because he does not use debt. And here is the part almost nobody gets. It is your money anyway. The cash sitting in your retirement account or your bank is yours. You are just borrowing it back at a lower rate and finding a tenant to cover it. That is why I disagree with him on debt. Used right, it is not the enemy. It is the entire engine.

Ken McElroy

38,406 görüntüleme • 3 ay önce

Most investors think paying off debt is the safe move. That is backwards. The rule: never pay off the debt, unless the asset stops growing faster than the debt itself. As long as the asset outpaces the loan, the debt stays open forever. Because debt is not the risk. Idle equity is. The real question is not how much leverage can you take. It is how hard do you actually need to push to hit your number, and for how long. Mark Moss

Most investors think paying off debt is the safe move. That is backwards. The rule: never pay off the debt, unless the asset stops growing faster than the debt itself. As long as the asset outpaces the loan, the debt stays open forever. Because debt is not the risk. Idle equity is. The real question is not how much leverage can you take. It is how hard do you actually need to push to hit your number, and for how long. Mark Moss

Ken McElroy

39,699 görüntüleme • 2 ay önce

Trump: "You grow yourself out of that debt, it's not a question of paying it." The only way for the US to outgrow its debt is massive stimulus. Are you prepared?

Trump: "You grow yourself out of that debt, it's not a question of paying it." The only way for the US to outgrow its debt is massive stimulus. Are you prepared?

Satoshi Stacker

77,085 görüntüleme • 1 yıl önce

EVERY MAN OWES THE SAVER'S DEBT, AND WILL NEVER BE SAVED FROM DEBT EXCEPT HE SAVES AS A MATTER OF DEBT.... Saving is not about quantity as it is about character. It is that character God is watching out for to release increase upon you! Take a listen, and if this resonates with you, share with someone you love. #JesusReigns

EVERY MAN OWES THE SAVER'S DEBT, AND WILL NEVER BE SAVED FROM DEBT EXCEPT HE SAVES AS A MATTER OF DEBT.... Saving is not about quantity as it is about character. It is that character God is watching out for to release increase upon you! Take a listen, and if this resonates with you, share with someone you love. #JesusReigns

Isaiah Macwealth

58,853 görüntüleme • 4 ay önce

Fine: When you're $40 trillion in debt and the things that you're paying for are being borrowed from your children and grandchildren, the question is no longer whether something is a good idea. The question is it worth driving us further into debt to do it.

Fine: When you're $40 trillion in debt and the things that you're paying for are being borrowed from your children and grandchildren, the question is no longer whether something is a good idea. The question is it worth driving us further into debt to do it.

Acyn

35,900 görüntüleme • 2 ay önce

George Kamel reveals he would NOT take a $1,000,000,000 loan at 0% interest… “It’s not because I’m trying to be the ‘anti-debt guy’ it’s because I live by a set of values and principles, and I have found that living debt-free is simply a better life for me. So, someone else down the road, they can take that loan, and I wish them the best.” “I think taking on a billion-dollar loan at 0% to then arbitrage it and make money over here at 4%, it simply doesn't interest me.”

George Kamel reveals he would NOT take a $1,000,000,000 loan at 0% interest… “It’s not because I’m trying to be the ‘anti-debt guy’ it’s because I live by a set of values and principles, and I have found that living debt-free is simply a better life for me. So, someone else down the road, they can take that loan, and I wish them the best.” “I think taking on a billion-dollar loan at 0% to then arbitrage it and make money over here at 4%, it simply doesn't interest me.”

The Iced Coffee Hour

106,161 görüntüleme • 5 ay önce

This is a classic question — and one I’ve answered a thousand times because the math never changes. You get a signing bonus? Pay down your debt first. That spine surgeon’s education is what earned the bonus, and the debt is the bill. Don’t kid yourself thinking the market’s going to bail you out at 8% returns — it won’t. And for the love of money, protect your financial identity, especially in a marriage. Romance fades, debt doesn’t. That advice will save your wallet and your relationship.

This is a classic question — and one I’ve answered a thousand times because the math never changes. You get a signing bonus? Pay down your debt first. That spine surgeon’s education is what earned the bonus, and the debt is the bill. Don’t kid yourself thinking the market’s going to bail you out at 8% returns — it won’t. And for the love of money, protect your financial identity, especially in a marriage. Romance fades, debt doesn’t. That advice will save your wallet and your relationship.

Kevin O'Leary aka Mr. Wonderful

150,032 görüntüleme • 1 yıl önce

George Kamel reveals he would NOT take a $1,000,000,000 loan at 0% interest… “It’s not because I’m trying to be the ‘anti-debt guy’ it’s because I live by a set of values and principles, and I have found that living debt-free is simply a better life for me.

George Kamel reveals he would NOT take a $1,000,000,000 loan at 0% interest… “It’s not because I’m trying to be the ‘anti-debt guy’ it’s because I live by a set of values and principles, and I have found that living debt-free is simply a better life for me.

The Iced Coffee Hour

18,025 görüntüleme • 1 ay önce

Whoever told you all debt is bad was wrong. Debt is fire, cook with it or burn the house down. The wealthy borrow against assets for liquidity without ever selling, so the asset keeps working while they spend. What matters is how you use it.

Whoever told you all debt is bad was wrong. Debt is fire, cook with it or burn the house down. The wealthy borrow against assets for liquidity without ever selling, so the asset keeps working while they spend. What matters is how you use it.

Jake Claver, QFOP

26,156 görüntüleme • 3 ay önce

There are very clear rules and codes of conduct around collecting outstanding debt. And one of them is that once a debt is prescribed - that is no longer legally enforceable - a debt collector may not try to reinstate it by forcing a consumer to sign for it. What you can do if you are being harassed for such a debt? We chat to personal finance journalist, maya fisher-french. #DStv403

There are very clear rules and codes of conduct around collecting outstanding debt. And one of them is that once a debt is prescribed - that is no longer legally enforceable - a debt collector may not try to reinstate it by forcing a consumer to sign for it. What you can do if you are being harassed for such a debt? We chat to personal finance journalist, maya fisher-french. #DStv403

eNCA

88,805 görüntüleme • 1 yıl önce

So the discourse around this Dave Ramsey clip is so mixed up that I’ve just decided to upload the whole thing. In the full context of the call, the caller makes it perfectly obvious that: 1. She has been with this man, whom she is now living with, for six years. 2. She is a nurse and can make her own money. 3. She has been out of school for two years, and in that time she has paid off $70,000 of the debt. In the course of the call, Dave never suggests that this man should have to pay for that debt. Indeed, he actively suggests that she leave him, which guarantees he will not pay for the debt. Dave also all but says that, because of her career choice, the caller will be able to pay for the debt on her own, even if she has to take extra hours. All Dave is saying—and this should have been obvious from the original clip—is that the two are not aligned on money and debt at all. It is also clear that Dave thinks the man is stringing her along, which he is. So they simply should not be married at all, because this is a fundamental failure in the relationship. I myself would add that, at this late stage in the relationship, if you do not trust a woman financially, you should simply not be with that woman. And that is perfectly fine. But what you do not do is drag her along for six years when she obviously wants to get married, and then put another two or three years of financial hoops in front of her so that maybe you will propose. It is a waste of everybody’s time.

So the discourse around this Dave Ramsey clip is so mixed up that I’ve just decided to upload the whole thing. In the full context of the call, the caller makes it perfectly obvious that: 1. She has been with this man, whom she is now living with, for six years. 2. She is a nurse and can make her own money. 3. She has been out of school for two years, and in that time she has paid off $70,000 of the debt. In the course of the call, Dave never suggests that this man should have to pay for that debt. Indeed, he actively suggests that she leave him, which guarantees he will not pay for the debt. Dave also all but says that, because of her career choice, the caller will be able to pay for the debt on her own, even if she has to take extra hours. All Dave is saying—and this should have been obvious from the original clip—is that the two are not aligned on money and debt at all. It is also clear that Dave thinks the man is stringing her along, which he is. So they simply should not be married at all, because this is a fundamental failure in the relationship. I myself would add that, at this late stage in the relationship, if you do not trust a woman financially, you should simply not be with that woman. And that is perfectly fine. But what you do not do is drag her along for six years when she obviously wants to get married, and then put another two or three years of financial hoops in front of her so that maybe you will propose. It is a waste of everybody’s time.

CTrefugees

135,314 görüntüleme • 5 ay önce

Economist Prof. Steve Keen explains how America could theoretically wipe out household debt by giving every adult roughly $100,000 — with one major condition: “To get rid of all American household debt, for example, leaving corporate debt where it is, you’d need to give every American adult about $100,000. That would not create money, because you’d get the money on condition you pay down your private debt. So it would be a way of not creating money, but reducing the debt burden. I can work it out, and technically it works, but it involves such a political shift I can’t see it happening.”

Economist Prof. Steve Keen explains how America could theoretically wipe out household debt by giving every adult roughly $100,000 — with one major condition: “To get rid of all American household debt, for example, leaving corporate debt where it is, you’d need to give every American adult about $100,000. That would not create money, because you’d get the money on condition you pay down your private debt. So it would be a way of not creating money, but reducing the debt burden. I can work it out, and technically it works, but it involves such a political shift I can’t see it happening.”

DeVory Darkins

34,999 görüntüleme • 1 ay önce

BREAKING: Trump just said that he is considering giving 20% of DOGE savings to Americans and 20% to paying down our debt…. Where is the other 60% going? This is just stupid. Our debt will continue to rise even if Doge saves us $1 Trillion a year. Why the hell would you go further into debt by handing out money to people, which is inflationary. The point of DOGE was to pay down our debt.

BREAKING: Trump just said that he is considering giving 20% of DOGE savings to Americans and 20% to paying down our debt…. Where is the other 60% going? This is just stupid. Our debt will continue to rise even if Doge saves us $1 Trillion a year. Why the hell would you go further into debt by handing out money to people, which is inflationary. The point of DOGE was to pay down our debt.

Brian Krassenstein

1,478,885 görüntüleme • 1 yıl önce

2021: ‘Borrowing $1.7M from M1 Finance’ Good debt is when you borrow money to make money with it. This can be a business loan or a mortgage for a rental property.

2021: ‘Borrowing $1.7M from M1 Finance’ Good debt is when you borrow money to make money with it. This can be a business loan or a mortgage for a rental property.

The Wealth Squad

40,297 görüntüleme • 1 yıl önce

The Nairobi - Nakuru expansion is not part of the national debt, that is your money you contribute to NSSF - Ndindi Nyoro

The Nairobi - Nakuru expansion is not part of the national debt, that is your money you contribute to NSSF - Ndindi Nyoro

Kenyans.co.ke

131,786 görüntüleme • 10 ay önce

Dave Ramsey says "good debt" is a myth and reveals the exact 2 things you need to reach your first $5,000,000 in net worth Hala Taha: "You believe there's no such thing as good debt?" Dave Ramsey: "100% of the time, debt equals risk. Little debt, little risk. Big debt, big risk." "People only talk about debt as if there's one possible outcome, and it's a positive outcome. We've done detailed research, and 100% of the foreclosures occur on a home with a mortgage." "If you wanna destabilize your retirement, go into retirement with a mortgage. Think about it, because you're 80 years old now and you got a house payment. This is not a plan." "We found basically two things that cause people to get their first $1,000,000 to $5,000,000 in net worth." "It was a well-funded retirement plan taking advantage of good mutual funds and compound interest... and a paid-off $500,000, $600,000, $800,000, $900,000 house."

Dave Ramsey says "good debt" is a myth and reveals the exact 2 things you need to reach your first $5,000,000 in net worth Hala Taha: "You believe there's no such thing as good debt?" Dave Ramsey: "100% of the time, debt equals risk. Little debt, little risk. Big debt, big risk." "People only talk about debt as if there's one possible outcome, and it's a positive outcome. We've done detailed research, and 100% of the foreclosures occur on a home with a mortgage." "If you wanna destabilize your retirement, go into retirement with a mortgage. Think about it, because you're 80 years old now and you got a house payment. This is not a plan." "We found basically two things that cause people to get their first $1,000,000 to $5,000,000 in net worth." "It was a well-funded retirement plan taking advantage of good mutual funds and compound interest... and a paid-off $500,000, $600,000, $800,000, $900,000 house."

Hala Taha

341,506 görüntüleme • 4 ay önce

The government is more than $1 trillion in debt. Carney is going to borrow another $25 billion. Then he's going to gamble taxpayers' money on risky corporate handouts. This is NOT a sovereign wealth fund. It's a debt-fuelled corporate slush fund.

The government is more than $1 trillion in debt. Carney is going to borrow another $25 billion. Then he's going to gamble taxpayers' money on risky corporate handouts. This is NOT a sovereign wealth fund. It's a debt-fuelled corporate slush fund.

Franco Terrazzano

10,785 görüntüleme • 5 ay önce

Rep. Jim Clyburn needs a basic lesson in economics. Clyburn: “What has happened in the last four years on student debt for instance. Joe Biden has eliminated…over $60 billion for people saddled with student loan debt.” Neil Cavuto “Who’s paying for that Congressman?” Clyburn: “What do you mean who’s paying for it!” Cavuto: “Who’s paying for that debt relief?” Clyburn: “Nobody is paying for that relief! This is interest! This is not the principal. The principal was paid back a long, long time ago.”

Rep. Jim Clyburn needs a basic lesson in economics. Clyburn: “What has happened in the last four years on student debt for instance. Joe Biden has eliminated…over $60 billion for people saddled with student loan debt.” Neil Cavuto “Who’s paying for that Congressman?” Clyburn: “What do you mean who’s paying for it!” Cavuto: “Who’s paying for that debt relief?” Clyburn: “Nobody is paying for that relief! This is interest! This is not the principal. The principal was paid back a long, long time ago.”

Ian Miles

1,674,245 görüntüleme • 2 yıl önce