Unpopular Opinion: I don't like Dave Ramsey

[svivian]

Your point is part of the problem...

But that's ok.

You made an assumption about my comment rather than clarifying my position. If that bothers you I don’t know what to tell you.

 

[Burnsie]

There are a lot of parents out there I wouldn't want teaching anyone about finances or investing. Just because a certain percentage of Roksliders are savvy with money doesn't mean others are. Need to get the parents up to speed before we start asking them to pass on information of any value.
I liken it to the home school craze in general. I've known a number of couples who have pronounced "I'm going to home school my kids - don't want them in the public schools", and I'm like "oh boy" this ought to be good - you barely made it through high school and your going to teach your kid algebra, chemistry...etc?

 

[Jpsmith1]

It’s really no different than his advice on mortgages. 20% down on a 15 year. By the time the vast majority of people could achieve that now, houses will cost twice as much.

I don’t have anything against Ramsey. I don’t agree with him on things but there are a lot of people that could benefit from some of his philosophies.

The part I really don’t get is how many of his followers act like if you have a speck of debt, your obviously one second away from bankruptcy or if you say anything negative about what he teaches, they act like you just shit down their throat. The dude has built a cult like following. He is the T Swift of the financial world.

I think Ramsey and what I know of his advice are for a time that's gone and for a group of people who don't want to believe it.

20% down on a house today is a tall order as is a 15-year mortgage with recent economic trends, and I'm a pretty well-paid individual as a Journeyman steamfitter.

I'm not thoroughly versed in the details of his advice, but I can see some of it working for people deeply in debt or who have no idea what to do with or how to manage money.

I think most would be better served with tax advantaged accounts like IRAs or Roths invested in low load S&P 500 funds until they get north of the middle 6 figure retirement fund, then start diversifying rather than Mutual funds or other investment vehicles with higher loads and greater fees.