Quote:
Originally Posted by RickeyD
The vast majority of people don't have the discipline you have. The slaveowners know this and make hundreds of billions on their indentured servants. Me, I approach these things the way Dave Ramsey does, neither a borrower or lender be.
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There is a difference between sound financial advice and content that merely sells books to the masses. When it comes to long term, profitable investing, formal education and discipline go hand in hand. And, using knowledge to make the right investment selections can compensate for any possible lack of discipline. Consider automatic deductions to provide for dollar cost averaging = knowledge compensating for lack of discipline.
Many people rely on knowledge (really good!) or knowledge and sheer common sense (ok - nothing wrong with that). But relying on a popular author (with a Bachelors’s degree) to determine my financial future? No thanks. The person using their credit card wisely is miles ahead. People without debt always think they are better off –but those who strategically use debt to their financial advantage are actually the ones who are better off in the long run.
I thank the credit card companies every month for loaning me money at 0% interest.