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Dave Ramsey Loses His Mind Over This Advice On Instagram!
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Even assuming everything the guy says is true. That car loan has to be paid back prin + interest. If you’re making interest from an investment, you still have to come out of pocket for the principal
The principle investing against debt advice is not bad. But I’d rather put the investment money into stocks rather than Airbnb. Dave is a boomer and hates any kind of debt.
Dave is right. The guy drips of arrogance.
My 15 year old can’t remember to clean the cat food bowl everyday
I just got one thing Dave. The Airbnb could be easily rented if some local law was passed
Instagram influencer: my daughter got a loan.
Dave: She's 15. The bank did not give her a loan.
The rest of us: Wait a second, a lot of these influencers lie. Is that even his kid? Or is he just trying to make another viral video?
😂😂😂
Let her speak…
Hmm good idea
Rachel is so fine😍
Show me where I can make 14% on an AirBnB and I'll move my entire retirement funds to it. If they could really make 14% on an AirBnB, they would buy her a $3k car and put the rest of their cash in the property.
I think that IG video was meant to be a joke.
He drips in arrogance but does dave doesn't recognize his arrogance.. hmmm.
“We’re not going to harp on the people”…. But Dave’s like no! Cancel them 😂
TAXES
She can’t be on a loan till she’s 18. That’s the law. He co-strawed both purchases if they were made at all.
Why all the extra steps? That’s a lot of effort you could save by buying the car in cash.
15? she doesn't even have a driver's license yet – why would she need a car??
"greek from stupid??" don't you mean "from greek for stupid?"
😭😭😭
So the same guy who got millions via bank connections from his parents is mad at someone who rightfully suggests there's such a thing as good debt and that's how rich people actually make money. Rich people don't make money by this nonsense penny pinching Ramsey preaches to keep poor people poor.
Works for alot of people. Stop it
It’s called leveraging.
$15k car loan at 3.5% for 84 month is $201 a month.
$7k in airbnb at 14% is $82 a month. $82 a month income minus $201 a month payment equals $-119 a month. Boom, dumb and broke.
Why have a cohost if you don’t let them talk?
What Dave ignores is the power of leverage and the risk he took. He says he left those two after his bankruptcy but he didn’t. He just used different forms. Yes, the big change is cash instead of loans. But in terms of building wealth, if he just provided his knowledge one on one in a small town to his clients, he’d make those several hundred or so people lose their debt and gain independence but he he’d only make a modest living if one at all. However, he reached thousands through books, talks, and media. Leverage. And risk is hard to quantify or see. And it is overlooked once success rolls in. Dave has talked about this often. But what are the risks in ignoring your kids so you can focus on your business 12 to 14 hours each day? A stay at home mom, church, and healthy community reduces risk but it was there. Don’t get me wrong, the advice in that instagram clip is garbage and smug as Dave says, but Dave is human like all of us and gets to name calling and arm folding personal attacks much quicker as time goes on. Rachel seems to be the Dave whisperer and is constantly trying to reel him back to the salient points she knows he can make. But a lot of time is wasted and personal damage is done along the way. It is entertaining though.
lol Dave is taking this so personally……he is entertaining when he goes off for no reason
Arbitrage implies ZERO risk
If it was really true she could invest at the 14% and just wait a few years and buy the car in full cash. Hint…not true
Wow. Scary.