Completely agree. His largest client is about $30mil. I think his personal NW is a bare minimum of $5-6mil from what I've gathered, not including his 50% ownership in his firm. My NW is around $1.2mil right now.

Also, agree on the homes. I want my real estate to be as liquid a possible unless I somehow end up with so much god damn money it doesn't matter. But at this point in my life, it certainly matters.

Assuming you pay off the mortgage, the $4900 doesn't go to $0. You still have a payment of property taxes and insurance. Not sure how much of that 4900 is principle, so you could still be paying decent amount every month anyway. If you keep the mortgage loan, at least you can deduct the interest from your taxes.

dave must be a genius if he has people arguing about his method for 30!years now lol

You've done well enough whatever you pick you will make it work.

I'm a fan of leverage, I made my first million before 30 but lost 2/3 within 2 years. Just make sure you can live with a little volatility if you pick that one.







But as a lefty, you and Polis would be much happier in California.

I'd have to check, but it's probably ~$3,500/month interest.

It's tough when you have more money and kids. It is genuinely difficult to pick between a zero-risk strategy and a higher-risk leveraged strategy. It used to be a no-brainer for me to pick the leveraged strategy. But with more money and dependents, the zero-risk strategy looks better and better.

Thanks brah.

Also, I'm not even remotely left and I hate Polis. Tempted to neg.

go full on ramsey

I'm on the quest to pay my mortgage off as well, was at $240,000 last year, put $90k towards it late last year, have about $130k left. I just want that freedom to know I can do minimal work, no stress financially in case one of us loses a job, and to be fair it's a pretty uncertain world right now.

Edit: I have three kids as well, so it made more sense for me in that regards too..

I'd say stop all investing. Throw all your money at your debts leaving the big mortgage for last. Then throw everything at the principle on the mortgage till you pay it off. 7% interest is crazy high.

So it appears your keeping the 7%. Do you have a payment on your battery car? What % did you put down on your home?



Really surprised by what I've read itt. Srs, vry srs.

people are saying 7% is crazy high but when i google average mortgage rate i see 7.52% on a 30 yr fixed.

its high because just a few years ago you could get 2%

Depends what’s important to you. If you’re comfortable with your payment then keep it but it sounds like you aren’t

I don’t know much about Ramsey other than he is a grifter that preys on poorcels

well i mean that was years ago…people still been buying houses since then.

Maybe, maybe not. Not sure yet. I put 20% down.

I have zero debt and zero housing expense, so I'm pretty much full Ramsey at this point. It has its plusses and minuses.

When you have no driving force keeping you motivated, desire to really push the envelope with work goes way down. I reached a point a couple years ago when I was considering just stopping work to travel full time. Obviously I didn't follow through with this, but still when I needed to really push myself with growing business it was a lot tougher to motivate myself than it had been previously.

I personally would recommend keeping expenses low, but it's actually a good thing to have reasonable debt while in the growth stages of your career.

You can stay now and I repped you. You do make good choices.

Have a great day.

in on jewmogger thread

I don't disagree with his advice for the average Joe, but he knows his debt snowball stuff just makes people breath a sigh of relief bc one debt is knocked out vs actually saving on the interests of the highest interest problem credits.

That and his emergency fund doesn't account for the layoffs in the country. Most of the people that call are in deep chit with credit cards. So he says an emergency fund of $1,000.00 or whatever and then pay every dollar of your paycheck towards the problem. Well for these people what are they supposed to do if they've been debt snowballing 6 cards with 50k plus on them with mins $300+ plus a month on each if they get laid off when unemployment is only like $300 a week? Go deliver pizzas like he says? I don't think he lives in reality of what it's like to find a new job that can cover all of the $300 payments immediately.

My opinion is you should be saving as much as possible for a worst case scenario like being laid off. His advice of "call up a credit card company that you've never missed a payment on and offer them 2k on 12k owed. You got 10 minutes or I'm gonna call another one and pay them and not pay you ever again" advice. Lol yeah let me know how that goes and if they accept.