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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Can we agree $1000 as a step-one emergency fund is nuts for people in this area? Particularly if the only debt is student loans?[/quote]

Then scale it in a way that makes sense for you. Duh.

[b]He's writing mostly for working class families in the Midwest.[/b] If a $1K initial emergency fund before tackling other debt works for that scenario but doesn't work for you, simply scale it up to $10K or whatever does make sense for you.

Again: duh.[/quote]

This is a common observation, but if you listen to his radio show, you'll hear a large proportion of callers who are making $150k, $200k, $250k or more.

I don't like the idea of foregoing company matching, and I'm not sure that I could ever recommend that. But his plan is really anti-debt, and I think the problem with the common beliefs people are expressing here of "you need more emergency fund, you need more retirement savings, don't give up the tax break" is that you won't ever really consider your debt a major priority. It will always be there, and it will always be an excuse to not focus on building wealth. [/quote]

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