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re: Why do people not like Dave Ramsey?
Posted on 10/2/24 at 8:57 pm to theballguy
Posted on 10/2/24 at 8:57 pm to theballguy
Like everyone of his notoriety, he has skeletons in his closets. His brother in law gave them a lot of money. His advice is for the simple minded and then be grifts them with his products. Debt isn't bad thing at all if you know how to use it.
1
Posted on 10/2/24 at 9:40 pm to theballguy
His babysteps are great. the rest not so much.
"pay cash for a house"
"pay cash for a house"
Posted on 10/2/24 at 9:54 pm to pioneerbasketball
quote:
"pay cash for a house"
He never says this. He wants people to take out 15 year mortgages and pay down 20 percent. He has some formula to determine how much you can afford.
So much bad info in this thread.
Posted on 10/2/24 at 10:11 pm to bstew3006
quote:
Where he loses me, He was a guest on a Podcast and asked, “if I gave you an interest free loan of $10mm for 10years or 20yrs to invest in market or real estate…whatever you want, would you take it”. He said no bc debt is stupid. Now think about that…
A lot of his advice is geared towards people who are very stupid or financially self destructive so he takes a hard line approach and lives by what he preaches.
It's the same with these AA members and drug counselors. Can most people go to a wedding and have some drinks with their friends? Sure but we all know there are people out there that need to be beaten over the head about the evils of drugs and alcohol because they can't behave rationally.
Posted on 10/2/24 at 10:39 pm to theballguy
My problem with Ramsey is his love for high fee actively managed mutual funds and his hatred for low fee passively managed index funds. Horrible advise for people who are financially ignorant.
He also thinks you should plan on atleast 12% returns on your investments. 9% annual average over decades would be much more realiatic.
He also thinks you should plan on atleast 12% returns on your investments. 9% annual average over decades would be much more realiatic.
Posted on 10/2/24 at 10:46 pm to SlowFlowPro
quote:this would be best for most of the population. With them you just have to use those extremes. Think of it like an alcoholic. It's best to not drink at all instead of trying to drink in moderation.
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 11:19 pm to pioneerbasketball
He never says pay cash for a house. Some of y’all I don’t know where they find y’all
Posted on 10/2/24 at 11:31 pm to SlowFlowPro
quote:I don't agree with that and I use credit cards for everything that will allow you to use them but he's 100% right when he says people spend more more money when they use credit cards vs paying with cash. Even if you pay it off every month that still is true
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 11:34 pm to theballguy
He seems like a grifter with fake faith; insincere; sort of an ugly version of Joel Osteen.
Posted on 10/2/24 at 11:39 pm to theballguy
Dave's first two baby steps are tremendous - have a small emergency fund, and get out of debt.
It's common sense advise that he's gotten a lot of mileage out of.
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The problem is that success has gone to his head, and he now thinks he is always the smartest person in the room.
And... everything he talks about, outside the first two baby steps, is pretty much garbage.
He's one of those guys who thinks 100 percent of the country should do things his way, that his way is the only way, etc.
He's become a narcissistic a-hole, who is often wrong. That's what makes the religious bent way too much.
He's now the Joel Osteen of the finanncial world... an absolute fraud of a Christian.
It's common sense advise that he's gotten a lot of mileage out of.
{
The problem is that success has gone to his head, and he now thinks he is always the smartest person in the room.
And... everything he talks about, outside the first two baby steps, is pretty much garbage.
He's one of those guys who thinks 100 percent of the country should do things his way, that his way is the only way, etc.
He's become a narcissistic a-hole, who is often wrong. That's what makes the religious bent way too much.
He's now the Joel Osteen of the finanncial world... an absolute fraud of a Christian.
Posted on 10/2/24 at 11:41 pm to GeauxTigers123
quote:
He wants people to take out 15 year mortgages and pay down 20 percent. He has some formula to determine how much you can afford.
Which puts home ownership out of reach for 90 percent of Americans.
Now... ask yourwelf... how much rental property does DR own?
Perhaps just a bit of self-interest?
Posted on 10/3/24 at 2:04 am to theballguy
Honestly most of the people that I see that don't like him just don't want to give up the little luxuries that put them paycheck to paycheck. Most people that prioritize a want over a need are going to hate him.
Posted on 10/3/24 at 5:35 am to 94LSU
quote:
Reliable transportation at low interest is the smarter choice 10 out of 10 times.
I guess I do live in a bubble. I work offshore so I only need a vehicle once every six weeks. Wife doesn’t work so we use her car while I’m home, which is 8 years old. The beater I have is an 02 tundra, so I’m not really worried about it breaking down on my way to work. I do have a square body ranger with low miles I drive when I’m home.
Posted on 10/3/24 at 5:43 am to SlowFlowPro
quote:
Hell, "don't you use a credit card to pay for it, even if you pay it off every month"
Heck if you were really following his rules the credit card would either be paid off or closed.
Posted on 10/3/24 at 7:49 am to SlowFlowPro
quote:
SlowFlowPro
Stop buying taquitos, baw!
Posted on 10/3/24 at 7:54 am to Tarps99
quote:
Heck if you were really following his rules the credit card would either be paid off or closed.
That's what I'm saying. I get hundreds/thousands of dollars a year in CC benefits (as well as more protection and other benefits as posted in here). No CCs = giving all of that up for less functionality/protection.
Posted on 10/3/24 at 7:56 am to theballguy
A lot of people don't want to hear the truth about what they need to do, they just want to believe they are right in doing what they are.
Shoot the messenger.
Shoot the messenger.
Posted on 10/3/24 at 8:04 am to GeauxTigers123
quote:
He only says to do that sort of stuff while you have consumer debt. Once you are out of that you can do nice stuff on his plan.
The problem with that--most people, either by income or the rising COL, will be mired in debt, and unable to do "nice stuff on his plan." And, that's not considering the curveballs that come in life, such as illness, accidents, unemployment.
Posted on 10/3/24 at 8:07 am to BluegrassCardinal
I have never listened to him.... Have no opinion.
Posted on 10/3/24 at 8:07 am to BluegrassCardinal
quote:
The problem with that--most people, either by income or the rising COL, will be mired in debt, and unable to do "nice stuff on his plan."
If Dave Ramsey never existed they would still face the same math.
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