Finance guru Dave Ramsey slams 'awful' Gen Zers and millennials who live with their parents: 'They suck. They can't buy a house because they don't work' - eviltoast
  • johannesvanderwhales@lemmy.world
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    7 months ago

    I’m well aware that that’s true if you’re financially responsible and educated in investment. I don’t think his advice is aimed at that group of people. Also in the real world people don’t hand out 0% interest loans without strings very often?

    • aesthelete@lemmy.world
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      7 months ago

      I’m well aware that that’s true if you’re financially responsible and educated in investment.

      Educated in investment? Even a regular savings account will net you some return on a million dollars.

      You can also be financially irresponsible in every other aspect of your life and just plunk the million dollars into a savings account and take the free money.

      Also in the real world people don’t hand out 0% interest loans without strings very often?

      Of course, it’s a hypothetical which is why it makes his answer as stupid as it is. He’s too absolute on debt and that makes him a clown, and that’s coming from someone like myself who paid off a mortgage with a ~4% interest rate in 3 years.

    • popcap200@lemmy.ml
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      7 months ago

      They used to for cars, but obviously that’s a depreciating asset or w/e so it’s not really the same thing.

      • johannesvanderwhales@lemmy.world
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        7 months ago

        Yeah that’s the definition of strings attached. If they’re giving you a 0% interest loan on a car, you can assume the profit margin on the sale is large enough to cover the interest, especially since car companies often own the finance companies.