005 | In Today’s Podcast we cover: Dave Ramsey and Jonathan’s history following him Dave’s unyielding stance on debt: don’t do it Review and evaluate Dave’s teaching philosophies Baby Step 1: Get an emergency fund of $1,000 Baby Step 2: Pay off all your debt except for your mortgage Explanation of the Debt Snowball Our hybrid approach to the Debt Snowball vs. Debt Avalanche Advice isn’t “one size fits all.”  You need to figure out what works for you! The 4% rule explained and the impact on financial independence Dave Ramsey says to not take advantage of 401k match if you’re paying off debt The math of personal finance vs. the psychology of personal finance Baby Step 3: Get 3-6 months of expenses in savings Our personal emergency fund strategies Baby Step 4: Invest 15% of household income into Roth IRAs and pre-tax retirement funds Baby Step 5: College funding for children Baby Step 6: Pay off your home mortgage early Baby Step 7: Build wealth and give Please leave us a written review on Itunes to help the podcast grow Corrections from the show Roth's do not require any seasoning period. You can withdraw your initial contributions tax free at any time for any reason. It does not have to season for five years. Practically this makes the Roth even more powerful as a possible savings vehicle during your teens and college years when your tax rate is very low