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Does not follow Dave Ramsey
Old 11-22-2018, 01:49 PM   #1
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Does not follow Dave Ramsey

Inc magazine article. Sounds like a jerk to me, but what evah

Real estate investor loading up on debt. minimal emergency fund. Leverage!!! What could possibly go wrong?

https://www.inc.com/quora/6-telltale...html?cid=hmbv1
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Old 11-22-2018, 02:08 PM   #2
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Could not open the article but there are things I like and don't like about his advice. I gave both my boys his book because for young people the baby steps are good advice. Paying off debt, emergency funds, saving for retirement and college education all makes sense. He has a formula that is set. For the most part once you get on track people can just modify. He's worth millions now but as he'll tell you he lost it all leveraging real estate early.

I liken it to a lot of things where people have some major event, figure out how to overcome and them want to tell everyone how to do it. A zillion books on those events
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Old 11-22-2018, 02:20 PM   #3
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Originally Posted by Bir48die View Post
Could not open the article but there are things I like and don't like about his advice. I gave both my boys his book because for young people the baby steps are good advice. Paying off debt, emergency funds, saving for retirement and college education all makes sense. He has a formula that is set. For the most part once you get on track people can just modify. He's worth millions now but as he'll tell you he lost it all leveraging real estate early.

I liken it to a lot of things where people have some major event, figure out how to overcome and them want to tell everyone how to do it. A zillion books on those events
FTR I don't agree w/much of what Ramsey says. The first few "steps" are just common sense.

This writer is just nutso on leverage (imho). Remember flippers in '08? No doc loans? Leveraged Buy outs in the 80's? Too much debt and the ability to service it will take you out quick, fast & in a hurry.

This guy better hope that the economy doesn't even slow a little bit. A 7% unemployment rate where households are consolidating will doom him to BK. Because it doesn't sound as if he has cash to carry his loans for long.

Everything old is new again...aaahhh to be 30 again
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Old 11-24-2018, 08:42 AM   #4
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He does have a tendency to talk down to people. Not as much as Suze Orman, but still .

I do have a brother and SIL who swears by Dave Ramsey, but I can only listen to so much before flipping the channel.
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Old 11-24-2018, 12:24 PM   #5
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WASHINGTON, D.C.—Admitting that he is “in over his head” about how to tackle the nation’s $21 trillion in debt, President Donald Trump called in financial guru Dave Ramsey to help the Federal Government figure out how to handle the its finances more frugally and eventually pay off all of its liabilities.

After crunching the numbers, Ramsey reportedly began to lecture members of the Federal Government about their failure to control their spending impulses and avoid racking up trillions of dollars in credit card debt. According to sources, Ramsey then passed out a stack of envelopes with various labels like “Defense,” “Education,” and “Welfare,” and told America’s leaders they would only be able to spend whatever cash they budgeted in each category until the next wave of taxes comes in.

https://babylonbee.com/news/dave-ram...pe-budget-plan
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