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Old 01-23-2020, 09:20 AM
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SheepDog68 SheepDog68 is offline
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Dave’s program works!

For anyone stuck in a financial nightmare Dave is a great guide!

Wife and I did modify and even added to his advice to remove our student debt as quickly as possible!

We had been listening to him since he was on local radio in East TN and went through school taking as small of hit as possible.

Using his ideas we came out of school owning our own house and already digging into the student debt!

A number of folks in our industry are under someone’s thumb because they can’t skip a paycheck. We’ve had someone threaten that sort of thing and just smiled at them!

There’s a lot more to learn after Dave, but he is a very good starting point!

SD
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Old Yesterday, 05:18 AM
me me is offline
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^ our income in dollars has gone up but when you run it through an inflation calculator we’re about the same as the mid90’s.

We did financial peace around 2005 and pretty much stuck to it, only debt is one car payment and small mortgage, monthly payment is less than rent.


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I hope you are saying that the income you make now in your current job is the same after inflation, not that you have remained in the same job all those years.

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Originally Posted by Nomad, 2nd View Post
I disagree. They need to be taught how to use debt wisely. There are few to no instances when debt must be used.
I agree with the second part. But you don't see that the second part invalidates the first?
No it doesn't. The second part is saying that you do't have to use credit for pretty much anything. The first part is saying that if you do use credit wisely in you can make more money.

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Originally Posted by Nomad, 2nd View Post
by its nature: if you can use MONEY wisely and choose to use debt.... You can handle debt just fine.

The reverse is not necessary true.
Agreed


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Originally Posted by Nomad, 2nd View Post
There are many instances when debt can be used to increase your net worth.

I would say "a few", not many.
It depends on where you look.


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Originally Posted by Nomad, 2nd View Post
The computer I am typing this on was purchased with a loan featuring 18 month of deferred interest. As long as it is paid off within that 18 months no interest is due. I had the money to buy it outright, but why would I take the money out of my investments and lose the dividend income to pay for something the company is willing to let me buy on time, interest free?

Have you calculated how much you have saved?
These aren't the Carter years. I have cash savings sitting in cash and various bank accounts. I'm looking at less than a 2% return.

In almost every instance I have found in 37 years there's a way to get most things cheaper paying cash.

Even some gas stations charge less for cash vs a card.

My smart phone is "new old stock" I paid cash for.

Food, bought in bulk for cash, etc etc etc
I have not calculated how much dividend income (average for me is about 10%) nor appreciation I have earned by not paying for the computer in cash. It's kind of a no brainer, so I didn't waste my time doing it. I take a loan and don't pay any fees, or interest on the loan, while leaving my money fully invested earning dividend income and appreciation. Normally with purchases from larger companies there is no cash discount. Smaller companies have it all the time.

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Originally Posted by Nomad, 2nd View Post
Bingo (oh, look into the studies of how people spend more using cards vs cash.)

Now, fixed expenses, expenses your going to do anyway (hotel rooms, gas, a bunch of gun parts whatever.... That makes sense.)
I've considered it, but spending <$2k/month....

Meh.

At minimum I believe we can agree that consumer debt is a bad thing.
Those who can't control their spending, probably shouldn't use credit to increase their wealth. It will end badly. Those who can use credit wisely don't tend to overspend. Personally, I don't spend squat, unless I have to.

Unwise consumer debt is a bad thing. The wise use of consumer debt will add to your bottom line. Consumer debt is a tool. How you use it determines wether it is a good tool or a bad one.
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Old Yesterday, 07:37 AM
PalmettoTree PalmettoTree is offline
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I have not calculated how much dividend income (average for me is about 10%)...
Is that your current average dividend yield or over a number of years? Please list your sources by yield. It has been my experience any yield over 6% starts to be price risky and not a long therm source of income.

I am interested on learning how you have achieved the ability to double your wealth every 7.2 years.
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Old Yesterday, 08:15 AM
me me is offline
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Is that your current average dividend yield or over a number of years? Please list your sources by yield. It has been my experience any yield over 6% starts to be price risky and not a long therm source of income.

I am interested on learning how you have achieved the ability to double your wealth every 7.2 years.
So you want me to post my financial records online to a bunch of strangers? Ya, not going to happen.

I am very selective in my stock choices and generally buy undervalued stocks that are still solid companies that pay dividends. This tends to result in higher dividend rates and more appreciation over time.
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Old Yesterday, 09:48 AM
PalmettoTree PalmettoTree is offline
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So you want me to post my financial records online to a bunch of strangers? Ya, not going to happen.

I am very selective in my stock choices and generally buy undervalued stocks that are still solid companies that pay dividends. This tends to result in higher dividend rates and more appreciation over time.
No I want you to post the stocks, bonds, etc. you are invested in to achieve a 10% yield. You need not tell us how many shares you own, etc.

Posting such is no different from posting what provisions you have put-up as a prep.

It is not like we know who you are.
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Old Yesterday, 11:00 AM
neiowa neiowa is offline
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I am very selective in my stock choices and generally buy undervalued stocks that are still solid companies that pay dividends. This tends to result in higher dividend rates and more appreciation over time.
So unicorns and mermaids. There are no "undervalued stocks" by a traditional valuation (of 30yrs ago of assest/liabilities and productive capacity). It's all hype, emotion, and bluesky driven by too many $ looking for a home. The entire market is as the 1999 internet bubble. AND pays a dividend? Har de har. Good one.

I enjoy listening to Ramsey but his idea of a "business" is laughable - "consulting" and hiring a printer to run off books, papers and software. His empire doesn't manufacture an actual value added product.
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Old Yesterday, 11:05 AM
PalmettoTree PalmettoTree is offline
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I am very selective in my stock choices and generally buy undervalued stocks that are still solid companies that pay dividends. This tends to result in higher dividend rates and more appreciation over time.
So what do you consider, "undervalued stocks that are still solid companies that pay dividends." Please give examples that pay a yield over 10% allowing you to average a 10% yield.
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