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Old 11-23-2017, 03:09 PM   #41
Huntman3
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Originally Posted by Its Catchy View Post
Huntsman3,

More on your advice of a mixture of stocks/bonds/cash for the elderly couple...

Bonds are bad pretty far out:

http://www.bloomberg.com/news/articl...ro-out-in-2018

Cash loses value to inflation...

Stocks leave the elderly open and vulnerable to huge downturns...

So I would ask you again how bad is Mr. Ramsey's advice of paying off the mortgage in question? It looks pretty good to me considering the options
Go back and read my post. I never ordered should you some money to pay off his mortgage. What I or Jude was just telling them the two remaining cash I would have left over would generate 15 to 20,000 of income a year. So Ramsey was assuming 7 1/2 to 10% return on their money and not factoring in any inflation
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Old 11-23-2017, 03:42 PM   #42
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Originally Posted by Huntman3 View Post
Go back and read my post. I never ordered should you some money to pay off his mortgage. What I or Jude was just telling them the two remaining cash I would have left over would generate 15 to 20,000 of income a year. So Ramsey was assuming 7 1/2 to 10% return on their money and not factoring in any inflation


You said if they followed his advice that they would be broke in 10-15 years. How would you keep them solvent? His advice was that if they would live on less than they make then he would use the money to pay off the house.

We all agree that inflation is an issue that needs to be factored in to your long term plan.


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Old 11-23-2017, 04:04 PM   #43
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[QUOTE=al_carl;22191458]You said if they followed his advice that they would be broke in 10-15 years. How would you keep them solvent? His advice was that if they would live on less than they make then he would use the money to pay off the house.

We all agree that inflation is an issue that needs to be factored in to your long term plan.

He Told them they would earn 15 to 20,000 a year income off of the 200,000 cash they had left. I would’ve advised them to use a reasonable rate return so that they wouldn’t deplete all of the retirement savings early . Geez
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Old 11-24-2017, 10:07 PM   #44
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I don't know what he told them other than to pay off the mortgage...

That in itself does not to seem to be bad advice.

I will ask you again what sort of investment would you advise them to be in that would be any better?

Bonds pay nothing...

Cash loses to inflation...

Equities leave them exposed to huge losses.


Once again his initial advice of paying off the mortgage seems to be solid considering their age.

You sound more and more like a "financial planner" trying to sell the something that lines your pocket but is not necessarily in the best interest of the elderly couple in question...
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Old 11-25-2017, 07:12 AM   #45
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Quote:
Originally Posted by Its Catchy View Post
I don't know what he told them other than to pay off the mortgage...

That in itself does not to seem to be bad advice.

I will ask you again what sort of investment would you advise them to be in that would be any better?

Bonds pay nothing...

Cash loses to inflation...

Equities leave them exposed to huge losses.


Once again his initial advice of paying off the mortgage seems to be solid considering their age.

You sound more and more like a "financial planner" trying to sell the something that lines your pocket but is not necessarily in the best interest of the elderly couple in question...
Wish some of you would READ what I have said over and over. My Issue was NOT paying off the mortgage. It was him using 7.5-10% return assumptions and ignoring inflation.
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Old 11-25-2017, 08:08 AM   #46
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Huntman3

If you missed it this is what I said about it:

"I can't speak for Mr. Ramsey or what he said but 15-20K seems to be a far fetched annual ROI on 200,000 for someone of that age."

I have listened to Mr. Ramsey for a long time and I find it hard to believe that he said that. Usually he is much more conservative with his advice. So to sum it up, IMHO 7-10% is an unrealistic ROI for someone in that age bracket. However, paying off the mortgage is not "bad advice"...
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Old 12-20-2017, 11:14 AM   #47
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You have to take the stuff that Dave Ramsey pitches with a filter. IMO his approach is very extreme and is meant for people that have very little to no idea on how to manage money.

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