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Originally Posted by Dadhawk
Yea, Ramsey's stuff can be a little too optimistic but some of it is just common sense and simple enough for folks that don't want to spend every hour of the day worrying about finances can still get ahead.
As far as the 12%, it's more of a long haul thing than a "year to year" but it can be done. I've got several funds in my 401K that have done that or better over the past 10 years even with downturns. Last year obviously helped that (some of them had >30% last year)
As far as selling a car a year later for the same price, you can on the low end of the market. I've done it myself, and have had a couple of occasions where I've driven a car for a year or more and sold it for more than I paid for it.
No, it won't happen with a new car, or even a car two or three years old, but once you get over five, the price becomes relatively stable over a 12 month period. Of course, with a lot of things the money is made at the buy not the sell.
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Agree. I like him overall even if I don’t always follow steps exactly. I’ve been getting good returns too but the average person is NOT getting 12% average long term, not even 8. Any fund that gained 30% or more last year lost much more in 2008. I like to sleep at night and stay balanced overall, not complaining. Yeah, you are right about older cars and money being made on buy, not sell.