The Top 5 Lessons We Can Learn from Dave Ramsey, Ep #48

<p>Many people know I’m a Smartvestor Pro with Dave Ramsey and I’m often found on his website as a resource. I agree with so many of his financial principles that help people make good financial decisions and begin to build wealth. So in this episode of Retirement Made Easy, I’ll talk about 5 lessons we can learn from Dave Ramsey. I’ll also answer questions from two listener emails. Don’t miss it!</p> <h2>You will want to hear this episode if you are interested in...</h2> <ul> <li>[1:27] What can we learn from Dave Ramsey?</li> <li>[2:58] Lesson #1: The #1 indicator of people who retire wealthy</li> <li>[6:03] Lesson #2: Sticking with the basics</li> <li>[7:39] Lesson #3: Stay away from credit card debt</li> <li>[10:01] Lesson #4: Be intentional with your money</li> <li>[11:55] Lesson #5: Live like no one else</li> <li>[13:44] Listener email #1: A “thank you” from Jerry</li> <li>[16:26] Listener email #2: Some “hate mail” from John</li> </ul> <h2>The #1 indicator of people who retire wealthy</h2> <p>What is the #1 indicator of people who retire wealthy? It’s how frequently and how much someone saves or invests money for retirement. Dave Ramsey recommends people invest 15% of their gross annual income. All you have to do is save 15% of your <em>gross</em> income. That’s it. What else should you do to ensure you retire wealthy? Make sure all of your debt is paid off and you have an emergency fund of 3–6 months of living expenses. </p> <h2>You have to stick to the basics</h2> <p>Don’t try to get lucky with speculative investments. Stick with proven investment methods (like growth mutual funds). Dave Ramsey conducted the largest survey of millionaires in this country. 80% of those surveyed said that their primary investment vehicle was a 401k or employer-sponsored retirement plan. If millionaires are finding success with this method, so can you. Why try to do something different? Do what successful people are doing. </p> <h2>Stay away from credit card debt</h2> <p>The same study found that 40% of the general populati