In my wanderings through the internet, I came across this neat clip on google video. Its a 9 minute segment from the David Latko show. In the segment, David Latko invites David Bach on his program and then starts to criticise him for offering bad financial advice.

In case you don’t know who these people are. David Latko is the author of Everybody Wants Your Money. Latko advocates that people should rent and spend their excess cash on investing. David Back is the author of The Automatic Millionaire. Bach differs from Latko in that he says you should buy a house and not rent. Check out the video. Its nice and quick. The two Davids go after each other a bit, so its about as dramatic as personal finance can get.

For what it’s worth, I think that Bach is correct. According to the statistics I’ve read, people who own their own home tend to be wealthier and better off at retirement.

Best,

James

MANAGE YOUR MONEY TOGETHER

Here are some simple guidelines for DINKS to build wealth:

1) Collaborate: Meet regularly to talk about money, set goals together, track and monitor them.

2) Understand and respect your partner. Take time to understand your partners values about money.

3) Watch the numbers. Get a budget, monitor your spending and track your net worth.

4) Max your retirement. Maximize contributions to your tax deferred retirement accounts.

5) Invest in stock. Stocks perform better than bonds or cash.

6) Avoid high interest debt. Credit cards and title loans are financial cancer.

7) Diversify. Don't put all your eggs in one basket.

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