Dave Ramsey is a businessman and entrepreneur who accumulated a $4-million real-estate portfolio, only to lose it all - and nearly everything else he owned - by making the same mistake millions of Americans make every day: he got too far into debt to get out. Dave Ramsey is also a Christian family man who, through the turmoil of his financial nightmare, discovered a new way of life. He shared the lessons he learned by writing Financial Peace, a simple but powerful guide that offers practical lessons on how to get out of debt - and stay out.
©1998 Dave Ramsey (P)2011 Penguin Audio
This book is great general advice for someone who wishes to get out of debt and eventually build wealth. The advice on the recommended stock market portfolio, however, is extremely dated (by about 20 years) and even for that time it wasn't very sound. The author's assertion, for example, that international mutual funds outperform the general stock market is historically untrue. His lack of emphasis - and to some degree his dismissal of the impact fees make on mutual funds returns - has also proven to be false. I recommend getting your stock/mutual fund investing advice elsewhere. While this book is very weak on actual stock/mutual fund investing advice, it is very strong on understanding debt and practical approaches for getting out of it.
As long as the reader understands that this book needs to be understood in today's context/today's dollars, this is real meat and potatoes content on debt reduction and financial liberty.
Learning what all of the the different kinds of investments are and the basics of investing.
Listening gave me validation for the need to revisit my philosophy on money and growing wealth through service more than sheer hard work.
How I will build my investment portfolio and how I will treat money in the present for my future.
Dave is a stud
This book gives solid tips for establishing financial stability, not just on monetary advice, but putting yourself in the right mindset to use it. Financial Peace lays the groundwork to make the most of your money, and have more self control as far as impulse spending.
This book is a keepsake to let my children listen to when they launch out into the world to help keep their finances on track. It is down to earth, common sense put in layman's and doable terms so you can put a plan in place that works for you.
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