Anyone use Dave Ramsey

[disneysteve]

I think it's pretty unseemly for a financial advisor to shill for a car dealership, but maybe that's just me.

That's a different issue. His show has advertisements so he also does commercials for a security monitoring system, a computer back up company, an online checking account, and several others. Is it unseemly? Yeah, it does always make people seem a little bit sleazy. I think the same thing about Suze Orman selling kits for wills and trusts and whatever she pushes on QVC. But I understand that it is all part of doing business and paying the bills. He probably couldn't afford to do a 3-hour radio show every day without selling ad time.

[Petunia 100]

I have been using the dave ramsey system since Dec 2011... anyone else?

So to answer the original question, , no, I don't use the Dave Ramsey system.

Way back when I was in consumer debt hell, I did use a similar strategy, though I had never heard of Dave Ramsey. It took time, but it worked.

If I were on the Dave Ramsey system today, it looks like I would be on BS3, but I'd be doing it wrong because I do contribute 15% to retirement, and that is BS4.

I do have a zero-based budget, because it makes sense to me.

I especially like what he has to say about being on the same page with your partner. I don't have a partner, so its not relevant to me, but I like it just the same.

If you are looking for some online support, you can certainly post details about your progress here on the forums, or start your own blog. You'll find lots of encouragement. Best of luck to you with your financial goals.

[kalikala1980]

I do like most of Dave Ramsey's principles, however, I strongly disagree with his principle that you pay off debt and establish an emergency fund before saving anything for retirement. I will not stop saving for my retirement as I cannot get the time back that I should have been saving for my retirement. I am currently working on paying off my student loans, saving for an emergency fund, and fully finding my Roth IRA and putting 4% into my 401k to get my employer's match. I believe though people have to find what works for them.

[shaggy]

But back to the subject: I see so much DR hatred that I can only attribute it to jealousy. You have to realize he is peddling "one size fits all" to all of his audience. If you want to counter his advice, then you need to come up with suggestions of your own that can be followed by EVERYONE listening and have a greater likelihood of success.

I can honestly say I'm not "jealous" of Dave Ramsey or his success. I don't care enough about him to feel anything as strong as jealousy.

I disagree that I 'Have to" come up with suggestions of my own. Bogle has already done it for me.

With that said, for investment advice, I'd probably go elsewhere (John Bogle, specifically)... I just personally disagree with his stance on loaded funds and commission-based advisors (he's okay with both, I'm not)

ITA.

Regarding a 100% stock allocation, let me make a few comments on that piece. First, that isn't what he says. He says 25% each to growth, aggressive growth, international growth, and growth and income.

IMO that is a very risky portfolio for anyone over age 40.

[disneysteve]

IMO that is a very risky portfolio for anyone over age 40.

I don't disagree. I was just pointing out that his advice isn't necessarily 100% stock but even 90/10 or 80/20 may be too aggressive for someone older. As I said, one issue I have is that he gives the same advice to everyone regardless of age.