Fine. But you've been warned. Proceed at your own peril.
For others, I'll give a few specifics.
DR tells listeners its easy to get 12% market returns. Listen closely, and that is 12%
average returns. If he is dealing with noobs, he needs to explain what that means:
1) If my investment returns - 50% one year, and +74% the next, I had an average return of 12%. (0.5 + 1.74)/2 = 1.12. Yeah!
Hmmm, but when I do the math in a meaningful way, 0.5 * 1.74 = .87. Wait a minute, I
lost 13% of my money with that 12% average return! Dave, where's my money??!!
2) Then he provides links to pros who will get you into one of these great average return funds. Those pros tell you you need to buy funds with
front end loads.
3) He says don't use credit cards, don't take those rewards. Bad advice. Learn to use credit responsibly, and those rewards, and the float and convenience of credit cards will help you gain financial freedom. But he makes flawed arguments against them. When I see flawed arguments, over and over, I smell a rat.
RetireBy90 just made the analogy between debt and alcoholism. I get it, I've thought that for those who just can't handle a credit card, maybe it is best to just avoid it, like an alcoholic needs to avoid alcohol.
But I just realized the flaw in that. It is feasible for an alcoholic to avoid alcohol. But adults must deal with money. Best to learn how to use it wisely. A better analogy would be someone who eats too much, and is reaching an unhealthy weight. Well, they can't just avoid all food. They need to learn how to use food wisely.
-ERD50