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Being honest
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<blockquote data-quote="WestTNguy" data-source="post: 1607421" data-attributes="member: 39165"><p>Jan, I have read a Dave Ramsey's book. Unfortunately, my family did not come from much at all. We were very poor. I've had to teach myself everything, and fortunately get to pick up tidbits from folks at work who are much better off than I am. I believe Dave Ramsey is very good for most people IN GENERAL. Everyone has their own personal financial situations. Would he tell me to pay off my student loan debt? Yes he probably would. But for me personally, my employer matches my retirement contributions (free money). I also keep a large part of my savings in Index Funds, since historically the market has returned an average of 7%. The rest I keep in a "high interest" savings account for stuff like emergencies. I plan to diversify some with real estate once I get married (that's a whole other story) and maybe some with the cows. If I can have a tractor I can depreciate each year, that holds its value...I can sell it later and recover some cash. I hope. I'm not an expert at this, but I feel like this is the best method for me. </p><p></p><p>The stock market could tank any day, and I lose a lot. It has always come back up. Having some diversification is your only insurance. I figure that people still need to eat, so this is where the cows (hopefully tax breaks) come in.</p></blockquote><p></p>
[QUOTE="WestTNguy, post: 1607421, member: 39165"] Jan, I have read a Dave Ramsey’s book. Unfortunately, my family did not come from much at all. We were very poor. I’ve had to teach myself everything, and fortunately get to pick up tidbits from folks at work who are much better off than I am. I believe Dave Ramsey is very good for most people IN GENERAL. Everyone has their own personal financial situations. Would he tell me to pay off my student loan debt? Yes he probably would. But for me personally, my employer matches my retirement contributions (free money). I also keep a large part of my savings in Index Funds, since historically the market has returned an average of 7%. The rest I keep in a “high interest” savings account for stuff like emergencies. I plan to diversify some with real estate once I get married (that’s a whole other story) and maybe some with the cows. If I can have a tractor I can depreciate each year, that holds its value...I can sell it later and recover some cash. I hope. I’m not an expert at this, but I feel like this is the best method for me. The stock market could tank any day, and I lose a lot. It has always come back up. Having some diversification is your only insurance. I figure that people still need to eat, so this is where the cows (hopefully tax breaks) come in. [/QUOTE]
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