Dave Ramsey

Now by God I have to admit I like Dave Ramsey.  He's a salty old brother and he's quick to preach the gospel of Jesus and he likes to read one chapter in Proverbs every day.  And he's got around $55 Million is the number it seems I've heard tossed around.  I've seen pictures of what they say is Dave's house down around Nashville.  Heck it's even bigger than Johnny Cash's old spread out Hendersonville way.

So I says to myself, Doug, head on over and see what old uncle Dave is up to today.  That's the great thing about the internet.  You can lead, follow, or get out of the way.  Same as back in the time of Abraham but now the leaders can lead better and the followers can follow better and the one's who just get out of the way it's pretty much status quo.  Complain and consume.

So I goes to uncle Dave's Facebook page to see what he's got for me on this December morning in Virginia and here's what he's saying to me today by divine guidance as everything is by divine guidance.

Once you’re debt-free, with an emergency fund of 3-6 months worth of your expenses saved, it’s time to begin investing. I recommend investing 15% of your income each month for retirement.

A 401(k) and a Roth IRA are BOTH great ways to invest, and each of them have their own set of pros and cons. For example, a 401(k) has higher contribution limits than a Roth IRA, but you will have to pay taxes on that money when you withdraw it later on. With a Roth IRA, you pay taxes FIRST on the money you contribute to the account, and then it grows tax-free.

Funny that just last night I was sitting here trying to open a  Roth IRA online at my Fidelity account.  The Lord works in mysterious ways.  I'll go read some more of what uncle Dave is saying and see if I can make some progress on that front.

God bless America.