On his radio show recently when giving advice to a young man who is trying hard to work his way out of a financial disaster, Dave referred to those dependent on Social Security for income as LOSERS. Dave seems to think that it's a no-brainer that everyone should be debt free and have sufficient investments to live comfortably in retirement. All they have to do is follow his simple baby steps.
If they have already cut back to the bone and are living at poverty level, all they have to do is increase their income - simple in this age of high unemployment, right? Surely our seniors can make enough extra money by delivering pizza to invest wisely and finally retire in style.
I bet the majority of Americans had no clue about preparing for retirement until it hit them and others who tried to be fiscally responsible still ended up with nothing but Social Security to live on thanks to the financial collapse of big companies like Enron and corrupt schemes like Madoff. Oh, they should have known better than to put all their investments in one place ...
I normally respect Dave Ramsey's views and advice, but sometimes he hits a sour note.
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