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Tuesday, August 05, 2008
Dave Ramsey :: Townhall.com Columnist
Help from Dad? Keep Working?
by Dave Ramsey
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Poll
Will the Dems' health care Christmas Present to America be an improvement or detriment to our health care system?


My wife has been working at the same company for the last 20 years. She makes $40,000 a year, and she can retire in nine years with full benefits. This may sound crazy, but we’re wondering if it would be a good idea for her to quit now and stay at home with our two toddlers. We’re debt-free, and we could save some money and pay the bills on my income. Is this a bad idea?

Sam

Dear Sam,

Is mom staying home with the kids a bad idea? I don’t think so! Go ask those kids which they’d like best – benefits or having mommy around a lot more – and see what they have to say. You already know the answer to that one, don’t you?

We don’t work for retirement and benefits. We work for what benefits and retirement DO for us. Benefits can help us take care of our families, and one of those benefits is money that we can make and save money. Even if she quits, you guys can still do that.

There are all kinds of great work benefits out there, Sam. But if you really want to see some benefits, pour as much time as you can into your kids!

- Dave
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About The Author
Dave Ramsey is a personal money management expert, popular national radio personality and the author of three New York Times bestsellers.
 
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(50 comments so Far)
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Reply # 1
Date: Aug 7, 2008 - 9:44 AM EST
western bondbeam and jim
Use of a credit card just requires that the user be responsible. If someone is so irrespposible and lacking in impulse control that they cannot be trusted with a credit card, then their situation is pretty hopeless.

I can also see the calls for government bailout of people in serious credit card debt, particularly if Obama wins. My opinion is that these people should be allowed to sink, just like those who overspent on houses.

Jim raises another interesting question. For car rentals, does a debit card give the same free insurance coverage as a "gold or platinum" credit card, or do you need to purchase the exorbitant insurance or take the risk.

The notable lack of commentary on this column says all that is needed about the quality of the advice.
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Reply # 2
Date: Aug 6, 2008 - 7:14 PM EST
More of the same

Charles Location: PA
Reply # 43
Date: Aug 6, 2008 - 4:56 PM EST
Jim
Use a credit card (like Discover) that gives 1%
-
My original B of A card does the same.
======
Never rented a car? Are you a hermit?

western bondbeam said he never rented a car. Well, I have rented a car at least 800 times in 35 states, several places in Europe, and several Islands in the Pacific, including Siapan, and Majuro, for example. In addition to driving an RV 87,000 miles in about 29 countries in Europe, RVs and cars thousands of miles in 48 states, and Canada coast to coast, I’ve never had a scratch, and never needed to fight for insurance protection.

Talk about luck, or is that just excellent driving. I find that hard to believe, but it is true.
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