Here is the next installment in our the Reader’s Questions Series which highlight questions emailed to me by you, the readers of Money Q&A. This one deals with whether you should pay your mortgage off first or invest for retirement. Be sure to find out at the end of this article how you can receive a free copy of Dave Ramsey’s book, The Total Money Makeover if your money question is chosen to be featured in an upcoming blog post. If you're not familiar with Dave Ramsey's book, you should run right out and … [Read more...] about Reader’s Question: Should You Pay Your Mortgage Off First Or Invest For Retirement?
The Total Money Makeover
The last week, I wrote an overview of Dave Ramsey’s baby steps system from his book, The Total Money Makeover, and I have been dissecting each of his individual baby steps as well. The Total Money Makeover is a personal finance book that I highly recommend and one of the greatest personal finance books to read. Today, we will look at Baby Step 4 in more detail which is to invest 15% of your income for retirement. There are seven Dave Ramsey baby steps that you should follow in order that will lead you to financial … [Read more...] about Dave Ramsey’s Baby Step Four – Invest 15% Of Your Income For Retirement
The other day I wrote an overview of Dave Ramsey’s baby steps system from his book, The Total Money Makeover. There are seven baby steps that you should follow in order that will lead you to financial peace that he discusses in his book which is one of the Top Ten Personal Finance Books of all time that you should be reading. Dave Ramsey's baby steps are… Baby Step 1 – $1,000 Emergency Fund Baby Step 2 – Pay Off All Of Your Debt With A Debt Snowball Baby Step 3 – Fully Fund Your Emergency Fund Baby Step … [Read more...] about Dave Ramsey’s Baby Step Three – Fully Funded Emergency Fund
The second baby step in Dave Ramsey’s The Total Money Makeover is to pay off all of your debts except your mortgage. He recommends doing this by using a debt snowball. When Dave Ramsey talks about paying off all of your debts except your home, he means exactly that, all of your debts. This is where you list all of your debts in order from the smallest balance to the largest balance. You should include all of your credit card debt, student loans, car loans, loans to parents, debt to the IRS, money borrowed from your parents or … [Read more...] about Dave Ramsey’s Baby Step Two – Pay Off Your Debt With A Debt Snowball