Friday, April 24, 2009

Ramsey Reflections, Part 3

Continuing reflections on Dave Ramsey's Town Hall for Hope...

Takeaway #4: It's a Great Time to Invest!

For the long term, that is. As far as stocks are concerned, it's like K-Mart is running a blue-light special on stocks. We don't know if they'll go down further. We don't know when they'll come back up. But for the past 100 years, they've always bounced back, and buying them when they're so far depressed is a good idea.

Don't buy gold. Sure, it's gone way up recently. But don't buy it while it's so high. Some buy gold because they fear that our currency might be in danger and that we'd have to return to trading gold. But the last time people went to trading gold after an economic setback was during the Roman Empire.

Real estate can also be a great investment. You can get great deals and the interest rates are lower than they've been in decades.

But don't invest if you don't have the money to invest. In his early years, Ramsey went from controlling over $1,000,000 of real estate to losing it all. Six months later, a friend sat him down, told him to quit whining and take responsibility and move on. He did.

More next blog...

This post by J. Steve Miller, author of Enjoy Your Money: How to Make It, Save It, Invest It and Give It.

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