I like Dave Ramsey for his financial advice,and his straightforward approach to money. I’ve lived under his ‘no debt’ guidelines for the last ten years and I have never had a day where I woke up and thought “Geez, Im sorry I listened to that redneck. I’d feel better with a car loan, credit card debt, student loan, and personal loan hanging over my head.”
Now, I don’t agree with everything ol’ Dave says…I can live quite happily without the religious moments, and I have a different opinion on charitable giving, but by and large I’m something of a fan.
This article is interesting.
As I read it, it says that if you give financial advise to the general public that’s cool, but if you give specific advice to one person (like a caller on your radio show) regarding their particular investments..well…you need to be under the microscope of .gov. Thats the same .gov that, as Ramsey famously opines, is known for it’s ability to wisely handle money.
Cui bono? Well, all those financial advisors who charge money, for starters. Read the article, it’s interesting although a bit short on detail. But it’s an excellent example of the classic scenario of .gov ‘doing something’ and having no clue about the fallout and who gets caught up in it.
This is sorta on topic with preparedness because, in my opinion, ol’ DR gives good advice that a survivalist would be wise to follow – stay outta debt, have reserves built up, keep thinking about the future, and transfer risk.
Further reading:
Ramsey’s message, and those like him, really threaten those in power. They stay in control by keeping everyone in debt, beholden to their ‘power’. Realistically they are holding all the cards. They own the politicians who control the flow of revenue from us to them. We can play around the edges for only so long before we are forced into a corner. We might already be there. So how do the few change the minds of the many who don’t want to hear the truth?
This is an initial foray into the nationalization of those private accounts, I believe, and it has been in play for a long time. Had this saved from awhile back…
A recent hearing [which was chock full of progressive org reps] sponsored by the Treasury and Labor Departments marked the beginning of the Obama Administration’s effort to nationalize the nation’s pension system and to eliminate private retirement accounts including IRA’s and 401k plans, NSC is warning.
http://www.help.senate.gov/hearings/roundtable-discussion-pension-modernization-for-a-21st-century-workforce
The hearing, held in the Labor Department’s main auditorium, was monitored by NSC staff and featured a line up of left-wing activists including one representative of the AFL-CIO who advocated for more government regulation over private retirement accounts and even the establishment of government-sponsored annuities that would take the place of 401k plans.
“This hearing was set up to explore why Americans are not saving as much for their retirement as they could,” explains National Seniors Council National Director Robert Crone, “However, it is clear that this is the first step towards a government takeover. It feels just like the beginning of the debate over health care and we all know how that ended up.”
Ramsey’s guidance on debt elimination is rock solid but his investment guidance is quite poor. These new rules will have zero impact on his recommendations relating to debt and cost reduction but they will have a significant impact on his ability to recommend investment vehicles for the savings that one can accumulate using his sort of program.