/biz/ - Business & Finance

>be thankful for life’s scraps

We don't hate him. His advice is for people who are so terrible with money they need "psychological wins" like paying off a single card with low interest first so they feel like they're making progress. He helps people who can't do math or practice self control. Its a market. I respect him. He doesn't belong on biz though.

>>49394317
>bald white man telling me what to do

REEEEEEEEEEEEEEEEEE

>>49394317
The problem is he still thinks this is 1976 and that inflation and cost of living have been keeping up with Median Incomes when it's not even fucking close. Shames people for living at home when it's actually the smartest financial move to do. This is coming from someone who has to rent cuck. All you faggot neets able to live at home have it so easy you have no clue.

>>49394888
Based.

I'm able to live with a parent in my early 30s and I thank god I can do so. Makes life much easier.

He's a right winger who makes reddit commies mad so he must be alright

>>49394317
because he hasn't had to live any sort of a normal life in the last two decades minimum but dishes out advice acting like he could survive on a normal salary today.
some of the screeching is from people who have never been told 'no' in life, which is expected, but there's some legitimate points to be made against him.
the worst offense in my book is that once you get out of debt all he does is shill his SmartVestor Pro (TM) financial advisors. if i recall right they take a sales load in addition to high fees. this really sucks because he has decent advice for all the 90IQ robots out there.

>>49394317
credit cards are free money unless you are retarded

>>49396175
yeah, problem is, most people are

>>49394324
fpbp

>>49394317
Everything he says is incredibly basic and mostly risk adverse. There's not a whole lot that anybody could find useful if you are already halfway financially literate

>>49394317
rich boomer who still thinks that we live in the 60-90s
he got rich in easy mode, his advice don't apply in today economy

>>49396186
so what?
his advice is objectively bad and boils down to "avoid all risk"
/biz/ is totally the opposite and even if people here are still retarded
i would encourage my retarded relatives to listen to him but nobody who actually wants to make it seriously
debt is good - you should be in debt
not all debt but some

>>49394317
his advice is fine for retards who just want to be able to retire at 62+
for anyone else it's obvious at best, counterproductive at worst

>>49396275
his advice boils down to "fuck debt, then give us all your money so we can manage it and take fees". he hails from days when mortgages had double-digit interest rates, so it sort of makes sense why he would say that.
his audience just isn't the type to have enough of a brain to use debt to start a business or grow their wealth, without it all imploding anyways.

>>49396321
>from days when mortgages had double-digit interest rates
hey, might be topical sooner than you think

>>49396321
>he hails from days when mortgages had double-digit interest rates,
and anyone who bought as much property as possible then is a millionaire now so clearly his advice is shit

>>49394324
based

>>49394908
Huh.
And I here I am at 25 feeling like a failed piece of shit for doing the same.

>>49394324
This, pretty much. His advice is for staying above water, not for reaching great heights.

>>49394317
What's his advice regarding investment?

>>49396740
i'm 21 and I feel like a failure for still living with my relatives.
Actually thinking about dropping a couple thousand to go on a trip overseas for a month or so, hoping seeing the world will make me feel like less of a loser and more independent.

>>49394317
MONEY MARKET MUTUAL FUNDS

>>49396740
I lived at home at that age. I had a bachelors degree and a good job in my field. So I could have lived well on my own.

>>49394317
GOOD GROWTH STOCK MUTUAL FUNDS

>>49394317
LARGEST SURVEY OF MILLIONAIRES IN THE WORLD

>>49398298
>well, if it's all invested in good growth stock mutual funds, you should be able to live on 10% of that a year, right?
fucking kek, this

I disagree with Dave about staying away from credit cards and debt entirely, but otherwise his advice is pretty solid advice.

>>49396849
Actively managed growth stock mutual funds. He does not recommend ETFs or index funds. He does not recommend bonds and he's against crypto. He's cool with v real estate though.

>>49394317
he tells people to pay back their debts when bankruptcy would be a much better option. he works for the banks.

If I came across dave in public I would stalk him. I would stalk him until I find him in a semi private area. I would proceed to knock him out and kidnap him blindfolded. I would search his wallets for any kind of home address. I would find his home, before stopping in his home I would order the most hottest and disgusting of taco bell garbage food possible and fill my stomach to the point of near vomiting. I would buy several gallon jugs of water. I would take massive poopoos all over the floors of his house. I would smear it all over the walls and have him sit near me smelling my rancid farts and shit. I would find his bed where he sleeps and piss out gallons of hot piss all over his bed. Peepee stains all over the place. I would sign him up for as many credit cards as I could and then debtmaxx every last credit card. I would leave water damage to the point it drops his property values, clogging toilets, overflowing sinks, ruining the plumbing.

>>49396740
"Failure" is a spook. You should've realized this by now at 25.

>>49396810
In all fairness his advice is good for the retarded NPC masses

>>49394317
Debt is a privilege and tool to get further in life if you use it properly.
Credit cards are convenient and literally free money.
I thank God for what I have but I want more.

I became a millionaire last year at age 32 by not following that boomer's advice. His kind have a vested interest in people like us not retiring until age 65+. Fuck him.

>>49394317
He's based.
The people who say he isn't are underage larpers pretending to be crypto millionaires.
The only legitimate criticism of him is his recommendation to rent instead of live with your parents. If you actually want to make it, follow all his advice while leeching off your parents for as long as fucking possible.

>>49394317
He makes debt slaves seethe which is based.

>>49394324
lmao great post

uhhh how are you supposed to stay out of debt if you plan on buying a home?

>>49396810
>reaching great heights
>borrowing money

>>49394317
His financial advice is solid and Biblical.

>>49399367
buy it with cash

>>49394317
If every single American followed his advice, people wouldn't be able to see the returns from savings he always throws around as fact. How the fuck does he think you get money from investments? It literally comes out of the pockets of the American consumer. If everyone was a frugal ass then the economy would tank. If all people followed his income vs vehicle chart then the American economy would collapse.
t. Frugal ass who NEEDS normalfags to live paycheck to paycheck, god bless itoddlers and new car buyers.

>>49394324
>>49396810
Nothing about that advice is incompatible with being ambitious and wanting more. In fact, it's GOOD advice for anyone who wants more out of life.

Living within your means ensures that you're able to save money, which is necessary for making investments, starting a business, or achieving whatever goals you have for your life. If you overspend you'll up in debt or stagnation.

Staying out of debt doesn't necessarily mean you should never use credit. It means doing so responsibly and in service of your goals. This goes hand in hand with avoiding credit cards. Basically nothing you'd use a credit card to purchase will get you closer to your goals or achieving financial success. Debt should only be used to gain immediate access to capital that you can then use to make money. For example, buying tools and equipment for a business, or buying a property that you fix up and rent out.

Thanking God means staying humble and realizing that everything you have is merely by the grace of God and can be taken away from you just as easily as it was given to you. It keeps you on the right path as well, preventing you from falling into the trap of excessive pride and greed which can have disastrous consequences.

>>49399418
Shalom!

>>49394324
This. Christians are insufferable.

>>49399447
Amen.

>>49399480
We still love you.

>>49394317
He isn't telling me how to be a millionaire

>>49394344
this is why i like him. i was always in the "poor" mentality. his advice taught me about money and how to handle it. eventually got out of 20k debt and now own a home.
i disagree with him on many financial aspects but these are things i never would have thought about if his advice didn't get me thinking about money handling in the first place.

>>49394324
fpbp

>>49394324
If you're not born into money you've already lost.