Dear Dave,

Iíd like to get involved in real estate investing, but I donít have a lot of cash at present. What do you think of the idea of crowdfunding as a way to invest in real estate?

-- Adam

Dear Adam,

Iíve got a bunch of real real estate, and I love it. But I wouldnít go the crowdfunding route as a way to get started in real estate investing. I wouldnít give someone money to buy real estate in a crowdfunding scenario, either.

The late Beverly Sills had a great saying: ďThere are no shortcuts to anyplace worth going.Ē Investing in real estate is wonderful when you do it right. Get out of debt first, pay cash, and find great bargains. When you get in a hurry, and do dumb stuff like go into debt or get mixed up with partnerships in the process, real estateís a horrible investment.

I admire your ambition, Adam. But I would advise you to follow my lead on this one. Youíll be glad you did.

-- Dave

How late is too late?

Dear Dave,

How late is too late to get life insurance?

-- Anonymous

Dear Anonymous,

Itís pretty easy to get term life insurance†-- the only kind of life insurance I recommend -- up until around age 70. Depending on your overall health situation, there are a few affordable policies available past that point. But once you get into your 70ís and beyond it can be difficult to find reasonably priced coverage.

I recommend that most people have 10 to 12 times their annual income wrapped up in a good, level term life insurance policy. But honestly, you shouldnít need life insurance at 70 or older. If youíve been wise with your money, and saved†and invested, you should be self-insured by that point. This means having plenty of cash in the bank to cover burial expenses and enough for a spouse to live on after youíre gone.

-- Dave

-- Dave Ramsey is 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. Follow Dave on the web at and on Twitter at @DaveRamsey.