Earlier in my career, I would challenge people who loved Dave Ramsey. I thought, “He has some good stuff but some of the things he says can be misleading and just downright wrong”. About 2 years ago, I had a change of heart. I discovered that the main principle of what he teaches, which is to align your cash flow to help you get out of debt, is basically what we teach our clients. I guess Dave and I are closer than I thought, I am a Ramsey after all.
We like to think of ourselves as the final act for Dave Ramsey fans. We pick up where Dave Ramsey lets go. We have a lot of clients that were following the Dave Ramsey plan and then when it got to paying off their house they stopped. Not only did they stop but they got back into debt and haven’t had enough excitement to start up the “debt snowball” again. We at Uncommon Wealth Partners love Dave Ramsey fans because they ultimately understand the power of their cash flow. We also think they’re wise because they, consciously or unconsciously, don’t send extra payments in to pay off their mortgage faster. We want you to pay off your house just as fast or faster as sending in extra payments to the bank. There have been cases where banks have foreclosed on houses that have only months left on their 30-year mortgage. We help our clients understand that they want control of their money. Once they send it in to the bank, you as the customer, have lost control of that money because the banks don’t have to give it back if something were to go wrong.
We help people put a plan together to pay off their house with less risk, more liquidity and less interest paid to the bank. With a plan like that, people start getting that excitement back that they once had with the Dave Ramsey plan and that is encouraging. Once the house is paid off, it is on to the wealth-building phase and it may or may not be send every extra dollar into your 401k plan. It all depends on what you are after. For example, at what age do you want to retire? If it is any age before you’re fifty-nine and a half, then maybe your 401k isn’t the best place to store money. We do feel like it is a good place to help you with your current taxes but maybe not the best place to store wealth if you want to retire when you are fifty-five.
Dave Ramsey has great ideas and strategies for the masses but we help his fans turbo charge their plans because we put structure around what they do best and that is shred debt. Oh, and we don’t make our clients eat rice and beans in the process.
Come be uncommon with us.