December 4, 2018 • Page 2 Dave Says shop online at www.missourivalleyshopper.com Do What’s Best For You Dear Dave, I’ll be graduating from college with no debt in a couple of weeks, and I have a good job waiting for me in January. During the last few years, I’ve managed to save almost $25,000 from my part-time jobs while in school. My car is pretty beaten up and old, so I’ve been shopping at a couple of car dealerships recently. Every time I talk to a salesperson, they tell me I should finance something new instead of paying cash for a used car. What should I do? Ethan Dave RAMSEY Dear Ethan, I hope you’ll keep one very important thing in mind. This is your purchase, not theirs. The only reason they want you to finance something is so they’ll make a lot more money off the deal. Forget what they want. You need to do what’s best for you. You’ve been a hard-working, smart guy over the last few years. The fact that you’ve been able to save nearly $25,000 is proof of that. I don’t think you want to throw a big chunk of your savings—or your new income—into something that’s going to go down in value like a rock. New cars lose about 60 percent of their value during the first four years of ownership. That means a $28,000 car would be worth around $11,000 after that period. That’s not a smart investment. If I were you, I’d shop around and pay cash for a nice, slightly used $10,000 car. You can get a great automobile for that kind of money, plus you’ll still have the majority of your savings. Congratulations, young man. You’ve done a great job! Retirement Contributions Dear Dave, As part of your Baby Steps plan, you always advise people to put 15 percent of their income toward retirement. Would you explain the details of this, please? Mallory Dear Mallory, For starters, Baby Step 4 of my plan involves saving 15 percent of your gross annual pay for retirement. You don’t have to be a complete nerd about this figure. I mean, you probably won’t end up in the poor house if you set aside 12 to 14 percent. The bottom line is you should be able to save $7,500 a year if you make $50,000 annually. That’s just a little over $600 a month. However, the only way you can do this is by giving up stupid things like credit cards and car payments. When you get out of debt, it’s easy to set aside an emergency fund of three to six months of expenses—which is Baby Step 3—and start throwing 15 percent at retirement during Baby Step 4. Did you know you can retire a millionaire if you save 15 percent of a $50,000 a year income, and invest it in good growth stock mutual funds starting at age 30? Sounds worth it to me! — Dave * Dave Ramsey is America’s trusted voice on money and business, and CEO of Ramsey Solutions. He has authored seven best-selling books, including The Total Money Makeover. The Dave Ramsey Show is heard by more than 12 million listeners each week on 575 radio stations and multiple digital platforms. 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Utica Hall Bazaar 8 Saturday, December th 10AM to 4PM Too many mouths to feed? My old friend, Bill, walked into church, and I smiled. It was good to see him. Bill is in his eighties and is one of the most positive people I know. I went over and shook his hand. “Today is a great day, huh, Bill?” He shook my hand heartily. “Yes, today is a beautiful day.” I’m sure those standing around us wondered about our unusual conversation, especially since it was freezing cold with a biting wind. But the reason for our strange conversation went back to a previous one that I had had with Bill a few years earlier. I was having some challenges in my life. I had been given some new assignments at work that were taking a lot of time. I was also the editor of the university research magazine, and some people were quite vocal about their displeasure with me and the articles I chose to include in the publication. As a family, we had also had some financial setbacks that were weighing on my mind. On that particular day, I had walked into church and had run into Bill. He shook my hand vigorously and said, “Isn’t it a beautiful day?” “You think so?” I said, feeling somewhat doubtful. The day was overcast, a sleety rain was falling, and it was miserably cold. “Yes,” Bill replied, “it’s a wonderful day. And do you know how I can tell if it’s a wonderful day?” “How?” I asked, his enthusiasm beginning to rub off on me. “I get up each morning,” Bills said, “and I read the newspaper immediately. And the first thing I read is the obituaries. And do you know why I read the obituaries first?” “Why?” I asked. “Because if my name isn’t there, I know it’s going to be a great day.” Bill laughed and laughed at that. I laughed, too, and my problems seemed to disperse. But around a month ago, I found out Bill had had an accident. He had been using his tractor to split firewood. It was a cold day, so he was in his shop with the door closed. He began to realize that the air was getting choked with exhaust, and he needed some fresh air. He walked to the switch to open the garage door, but just before he reached it, he passed out face down in the dirt. Luckily, when Bill didn’t come into the house for dinner as expected, his sweet wife went looking for him. She got her son to help, and when they found him, they quickly opened the door and called 911. Miraculously the first volunteer emergency responders had oxygen. When I learned what had happened, I went to visit Bill. He was home from the hospital but was still struggling to breathe, even with oxygen. He was asleep when I came. I hated to wake him, but his wife said Bill would be disappointed if he missed getting to visit with me, so she gently patted him. Bill slowly opened his eyes, and when he saw me, he smiled. “It’s still a great day, Bill,” I said. “But just barely. It came close to not being a good one for you.” He smiled weakly, “A little too close.” He wasn’t out of the woods yet at that point. But over time, he gradually started to get better. That was the reason I was so happy to see him when he walked into church. Some of his positive attitude has taken hold of me, especially as his comment has lingered with me and has given me a different perspective about life. Each day when I get up, I say to myself, “It’s a beautiful day,” and I don’t even have to read the obituaries to know it. 605-665-5884 Christmas Coffee & Bake SaleSilver Come Help Us Celebrate Our (Congregational) By Daris Howard — Dave Dining & Entertainment NEW DATE It’s a Beautiful Day D ort e Tak h AS e riv We’ll M Local Advertis atch All ing Prices! TYNDALL MOTORS 605-589-3441 Toll Free 1-888-589-3441 406 West Hwy 50, Tyndall, SD Winter SAVINGS Lunch & Bake sale Photos & Treats with Santa Claus! 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