Your Questions About My Total Money Makeover
Jenny asks…
Dave Ramsey readers: I have Total Money Makeover, is Financial Peace, Revisited different enough to purchase?
I am not in any debt, I am using the books to budget and to learn about cash. I work at a hospital and have a TSA through the Hospital, but my contributions are not matched. I also have a Rollover IRA. There are no ELP’s (Endorsed Local Providers in my area). There is one 2 hours away. I need to learn more about mutual funds and if I can have an ELP manage my TSA & Rollover for me or If I can do it myself. I am just very confused on how to move them and then how to manage them or have them managed. I really just want to pick something with a long history of good returns and put it away and forget about it.
1) Is the Financial Peace worth buying, in my situation, if I already have the money makeover?
2) Is the ELP worth driving two hours for? Can a long distance relationship like that work?
3)IF no to number 2, How can I learn what I need to know about TSAs & Rollovers and how to manage the funds on my own by picking long term good performers?
Thanks, in advance!
richermo answers:
I have read both books. For your situation, no don’t purchase the FPU revisited.
I think an ELP 2 hours away will be worth it. I have a financial adviser about that far and we have sat down a couple times but after that we do it via phone or e-mail. I don’t suggest you do this by yourself, get the ELP and have him/her help you.
Mark asks…
Does the Total Money Makeover Work?
Has anyone tried Dave Ramseys Total Money Makeover. I am reading the book and looking forward to getting out of debt. Just wanting some “real life” advice. I am scared to spend my savings.
richermo answers:
Dave is a book salesman. You need to find a financial professional to help you out. Every person has a different situation and their needs must be customized. A local company helped me out for free, with no strings attached for once! Look them up and ask them to to a “Financial Needs Analysis” for you. The name of the company is Primerica Corporation. Bottom line..I would not spend money buying his books.
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