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A couple warnings if you go the Dave Ramsey route. He’s just flat wrong on a couple things.
He recommends a $1000 emergency fund. This is criminally low. Any emergency in 2025 is going to cost way more than $1000. Most places recommend 2 months salary. Some places 6. To me that’s a different thing. But more than $1000. That’s shitty dangerous advice from Ramsey.
He also recommends an 8% withdrawal rate in retirement. Also shitty dangerous advice. Most common recommendations are 4. The average return on the S&P is indeed 8%, but Ramsey doesn’t account for inflation, budgeting errors or things like sequence of returns risk (early losses in retirement can wreck a program).
Don’t do those things.
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