Anybody Listen to Ramsey?

[Fishindude77]

I generally enjoy listening to his stuff while traveling and feel it's pretty good advice for the average person. Most could benefit a lot from following his plan(s).

One area the at rubs me wrong is how he talks like being able to count on 11% return on your stock market investments making a 7-8% withdrawal rate very reasonable for most retired folks.
Majority suggest a 4-5% withdrawal rate and he always turns his nose up at that. Nothing wrong with giving them some hope and incentive to save and invest, but I just think he tends to exaggerate the returns people can expect to get.

Also, his stance on credit cards. For smart spenders / investors that pay their bill every month a credit card is a great tool which makes purchases pretty safe against fraud and can also earn you a few dollars cash back.
I don't even have a debit card and don't want one.

[bjl584]

I listen here and there.
It's good advice for someone in debt looking to get out.
His plan works for that purpose

Once you have a handle on things and are looking for more advanced advice on investing, then it's time to look elsewhere for advice.

[disneysteve]

I think his advice for getting out of debt is excellent and has helped many people turn their lives around.

His investing advice is AWFUL and should never be followed by anybody.

I don't agree with his credit card advice either but I understand why he preaches it. That's what his target audience needs to hear and follow because they don't have the self-control to use them responsibly.

[EasyMoney00]

Ill watch him on YouTube from time to time. I like his daughter better.

He says some strange things from time to time. The returns like OP stated. His take on credit cards. He will always say that selecting a Roth 401k is always better than a t401k, which isn't necessarily true.

Either way, he gives decent advice for financially illiterate people. If you have a grasp on things, look elsewhere...or do what I do, watch him for entertainment.

[srblanco7]

Suitable perhaps for those looking to gain control of their financial futures - specifically getting out of debt and living below your means.

Once you get beyond that, there are so many better podcast options out there to address “more complex” financial topics.

[kork13]

I listened to him for a couple years a while back. But he gets to be a broken record, and I moved on to other topics/podcasts. As others have said, he offers a great (motivation-focused) method for getting out of debt. Once you're debt-free, there are better sources of sound advice for moving forward.

[jenn_jenn]

Another used to be listener. I understand his budgeting and saving advice knowing it applies to individuals who are not good with money or credit.

At some point, the calls and his responses are repetitive. There’s no net new information.

[Tabs]

I personally don't, and have a very similar sentiment with the other commentators here.

[ua_guy]

Nope.

[myrdale]

Dave's message is an unsophisticated, one size fits all method for helping people get their financial lives straight. And that is just what this country needs!

If his content were taught in schools, we could fix 90% of the country's financial problems in a single generation. Its not though, so there is a constant supply of people doing what their parents did and getting the same results.

[Fishindude77]

Dave's message is an unsophisticated, one size fits all method for helping people get their financial lives straight. And that is just what this country needs!

If his content were taught in schools, we could fix 90% of the country's financial problems in a single generation. Its not though, so there is a constant supply of people doing what their parents did and getting the same results.

Yea, I really don't get why basic money management isn't required curriculum in US schools.

[ua_guy]

Yea, I really don't get why basic money management isn't required curriculum in US schools.

It was at the public schools I attended, but that didn't mean anything. We were comparing mortgage structures and amortization tables, and auto loans, credit card interest accrual as early as 7-8th grade as part of the application of our math curriculum. That doesn't mean everyone graduated public school adhering to a personal budget or making good financial decisions.

[LivingAlmostLarge]

I generally enjoy listening to his stuff while traveling and feel it's pretty good advice for the average person. Most could benefit a lot from following his plan(s).

One area the at rubs me wrong is how he talks like being able to count on 11% return on your stock market investments making a 7-8% withdrawal rate very reasonable for most retired folks.
Majority suggest a 4-5% withdrawal rate and he always turns his nose up at that. Nothing wrong with giving them some hope and incentive to save and invest, but I just think he tends to exaggerate the returns people can expect to get.

Also, his stance on credit cards. For smart spenders / investors that pay their bill every month a credit card is a great tool which makes purchases pretty safe against fraud and can also earn you a few dollars cash back.
I don't even have a debit card and don't want one.

The investment returns advice is just dangerous. Really really dangerous. It's also 4 Mutual funds with HUGE expense ratios. Basically he sells you Raymond James, Merrill Lynch, etc where you pay 1-2% and not guarantee of returns. It's really dangerous to listen to him for more than debt.

I heard him say you can live on 8% off your portfolio and i did a double take once. I was like oh no this is disaster. And go talk to my investment people. Another HUGE red flag.