FA_Q2
Gold Member
Why do you think you cant change my mind on something? Why so hostile today Mac?I say he is considered a bad and sometimes dangerous joke in the financial services industry because of my 23+ years in the industry.
His 4 mutual fund approach is a very bad idea for a lot of people, and leverage is just fine if deployed properly. He is too simplistic, and that creates significant wasted opportunities.
I know I'm not going to change your mind on anything. You asked, I answered.
I asked because I am genuinely interested in what you have to say about the approach. Although you seem to have said exactly the same thing I did, debt is a tool and he is simplistic. You added his 4 mutual fund approach was bad for most people but I do not know anything about his specific prescriptions. From what I know he hates debt to an extreme degree and that underlined most of his advice.
But you said he was almost 'dangerous' and it was that which was interesting. Do you really think he is dangerous? Is his 4 mutual fund idea that bad? Almost half of the US has nothing more than a bank account. I dare say I would bet a large portion of those that have some sort of investment only do so because the place they work does it for them. For most of them, investing in anything would be an improvement wouldn't it? Well anything that is somewhat traditional.