- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Why do people not like Dave Ramsey?
Posted on 10/2/24 at 2:11 pm to Enadious
Posted on 10/2/24 at 2:11 pm to Enadious
quote:People also take timing, luck and generally being in the right place at the right time for granted as well. The gov't has kept assets artificially inflated and rising at unprecedented levels while looking the other way on gross financial fraud for close to 20 years now. It isn't hard to get "rich" when the house you bought for $75k twenty years ago is valued at $750k on paper today. Stock market too. That isn't normal and doesn't make the holder a financial genius either although there are plenty of people in that situation who sure act like it.
I don't know how you go from 700K in debt to a multi-millionaire by investing. If true, there was some other business angle from which he got lucky.
Put it this way, it's difficult trying to explain to someone who just won the Powerball how stupid it is to play the Powerball.
This post was edited on 10/2/24 at 2:18 pm
0
Posted on 10/2/24 at 2:13 pm to theballguy
Most people that say his advice is for simple or stupid people are drowning in consumer debt and car loans so I wouldn't listen to them
This post was edited on 10/2/24 at 2:14 pm
Posted on 10/2/24 at 2:14 pm to LoneStar23
quote:
Most people that say his advice is for simple or stupid people are drowning in consumer debt and car loans so I wouldn't listen to them
It is. If you have to keep cash on hand in specific envelopes to pay bills, that is about the simplest form of financial planning you can have
Posted on 10/2/24 at 2:16 pm to theballguy
Because he's stuck in the 90s. The guy still thinks a single person can buy a starter home for $150,000 and we should be able to live comfortably off $30,000 a year.
Posted on 10/2/24 at 2:17 pm to Bonkers119
He presents financial advice for beginners but some of his advice is outdated.
This post was edited on 10/2/24 at 2:22 pm
Posted on 10/2/24 at 2:20 pm to Bonkers119
It's the equivalent of being told "I won the lottery, why can't you just win the lottery too?"
Posted on 10/2/24 at 2:22 pm to theballguy
He’s a narcissist but probably wouldn’t be where he is if he weren’t. His NDA for employees is borderline sociopathic. His one size fits all view on economics is terrible for smart responsible people who understand how to leverage cheap money.
I’ve always said listen to his show for a week, if you identity with even 10% of his callers follow his advice like gospel. Likewise if you can’t fathom the financial illiteracy of even one of his callers, his advice is not for you.
I’ve always said listen to his show for a week, if you identity with even 10% of his callers follow his advice like gospel. Likewise if you can’t fathom the financial illiteracy of even one of his callers, his advice is not for you.
Posted on 10/2/24 at 2:26 pm to ItNeverRains
I’m don’t get the hate.
His advice is wonderful for the average American.
If you think you are too good for his advice then don’t use it. I think a lot of people are kinda jealous that he is worth hundreds of millions of dollars due to getting on the radio and telling people to spend less than they make.
His advice is wonderful for the average American.
If you think you are too good for his advice then don’t use it. I think a lot of people are kinda jealous that he is worth hundreds of millions of dollars due to getting on the radio and telling people to spend less than they make.
Posted on 10/2/24 at 2:28 pm to SlowFlowPro
quote:
arrogant and wrong on a lot of stuff. It's not a good look.
hmmmmmmmmmm
Posted on 10/2/24 at 2:28 pm to ItNeverRains
quote:
’ve always said listen to his show for a week, if you identity with even 10% of his callers follow his advice like gospel. Likewise if you can’t fathom the financial illiteracy of even one of his callers, his advice is not for you.
Yeah I agree. I have advanced degrees in financial and business fields so I can see where some of this isn't everyday knowledge to some or even most folks, but guiding people who can't make the simplest budget to pay off high interest debt first, put money in envelopes for bills, and buy cheap vehicles is not some kind of cheat code. It is the absolute bare minimum of financial planning. Nobody who makes 50K and follows his advice is ending up a multi-millionaire off of that adivce alone
This post was edited on 10/2/24 at 2:30 pm
Posted on 10/2/24 at 2:35 pm to theballguy
The reason for 20% down is to avoid PMI insurance, which is an insurance for the bank that you get to pay for. It is good advice, but I agree that a 30 year fixed mortgage is more reasonable for young people.
Posted on 10/2/24 at 2:37 pm to theballguy
He was implicated in a lawsuit where the plaintiff claimed Ramsey could get you out of a timeshare but didn't deliver on his promise.
Posted on 10/2/24 at 2:37 pm to Enadious
quote:
Dave talks about earning 12% a year in mutual funds. I don't know how you go from 700K in debt to a multi-millionaire by investing. If true, there was some other business angle from which he got lucky.
Sorry, I didn't go into detail.
After he retired from USPS, he got a contract job with a car dealership where he was hauling vehicles on a flatbed truck all over the US. Claims he made a lot of money, got debt free and is now rich AF.
I still find it hard to believe.
Posted on 10/2/24 at 2:41 pm to GeauxTigers123
quote:A significant percentage of his "wealth" came from promoting scams on his radio show to those very same financially illiterate people.
people are kinda jealous that he is worth hundreds of millions of dollars due to getting on the radio and telling people to spend less than they make
LINK
Something we should all be jealous of I suppose.
Posted on 10/2/24 at 2:59 pm to theballguy
Posted on 10/2/24 at 3:03 pm to theballguy
To me it is a lot of common sense. Don't finance what you actually can't afford, account for every dollar you spend, and spend less then you make. My wife and I only bring in 120K combined a year and we are still able to invest 13% of our income and save 300 dollars a month towards an emergency fund. We do that and have 6 kids. We haven't had a vehicle note in over 7 years, we don't eat out, we raise chickens & rabbits & we hunt. It can be done easily if you just aren't stupid with your money.
Posted on 10/2/24 at 3:08 pm to SlowFlowPro
quote:Yeah - I disagree with him on that. I use credit cards and pay them off monthly if not more often. Credit cards offer more fraud protection than debit cards. You have to watch your daily balance on your bank account tied to the debit card and if it's been misused, it's a major hassle to get reversed whereas a credit card will work with you in a heart beat. But, you have to watch that very closely too, especially if you do much online purchases.
Hell, "don't you use a credit card to pay for it, even if you pay it off every month"
Posted on 10/2/24 at 3:20 pm to 94LSU
quote:
I'm just not sure why anyone would need to "follow" Ramsey to learn the basic message that high-interest debt is awful and you should do everything to get rid of it as quickly as possible. That's really the only wisdom he has to offer. Why do you need to listen to that more than once or twice? I suspect his real followers are people who enjoy listening to other people in dire straights so they can feel superior in whatever way.
Well he runs a successful business and has a net worth of $200 million.
Why didn't you do it genius?
You are a great example of his clueless critics.
Posted on 10/2/24 at 4:21 pm to SlowFlowPro
He helped me and my wife. We made stupid decisions with credit cards decades ago and maxed some out. We are now debt free except for mortgage. His messaging is simple and not complicated.
Those “financial experts “ on you tube or other blogs are many times very hard to follow. It seems that they recommend you jump through a number of hoops and follow a prescription only for a .25% better return on investment. Most people, including myself are not that disciplined or it’s just not worth the “extra” .25%.
Those “financial experts “ on you tube or other blogs are many times very hard to follow. It seems that they recommend you jump through a number of hoops and follow a prescription only for a .25% better return on investment. Most people, including myself are not that disciplined or it’s just not worth the “extra” .25%.
Posted on 10/2/24 at 4:26 pm to theballguy
I don't know, there's something about him. Something around the eyes...
Page 5 of 8
Back to top
Follow TigerDroppings for LSU Football News