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Here they are, in order:
How Does Ramsey Invest?
Ramsey is a big believer inmutual funds.
According to Ramsey, this helps you avoid the risk of putting your money into a single stock.
This further diversifies your portfolio and exposes you to all types of equities from across the globe.
Ramsey also endorses bothRothand traditionalIRAs, as they both offer tax benefits.
Roth IRAs allow for tax-free withdrawals in retirement, while most contributions to traditional IRAs are tax-free.
Who Might Ramseys Advice Work Best For?
Ramseys advice is particularly suited to eitherbeginning investorsor those who are in over their heads in terms of debt.
His steps provide good fundamental advice in terms of saving and investing, and they are easy to follow.
What Are the Cons of Ramseys Approach?
Ramseys approach to saving and investing has generated some level of controversy among other planners.
By Ramseys own admission, this is not the financially best way to pay off debt.
Paying Off Your Mortgage
Step six, paying off yourmortgageearly, also generates some controversy.
Investing
Lastly, some feel that Ramseys investment recommendations are too narrow.
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