Ep 41: Should You Follow Dave Ramsey’s Advice?

Phil's Tax Hacks

English - June 11, 2020 08:00 - 19 minutes - 27.3 MB - ★★★★★ - 4 ratings
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Previous Episode: Ep 40: Critical Retirement Planning Mistakes

Next Episode: Ep 42: Traditional IRA vs. Roth IRA

From the debt snowball to perfectly following his baby steps, what does Phil think of Dave Ramsey’s advice? Is it something you should incorporate into your own financial plan or something to steer clear of?

Show Notes & Resources: https://philstaxhacks.com/podcast/ep-41-should-you-follow-dave-ramseys-advice/

Watch the Video Podcast here: https://youtu.be/zbxrhLXNu1Y

Timestamps:

0:23 - What’s the latest in terms of what’s opening up?

1:10 - Should we be wary of Dave Ramsey’s advice?

1:55 - Is the debt snowball a good plan?

3:22 - Should you just invest in mutual funds?

5:47 - Does Dave set unrealistic expectations about investment returns?

9:41 - Should you cut off your retirement savings while paying off debt?

13:01 - Do the baby steps work?

16:24 - Mailbag: Is 33 different mutual funds adequate diversification?