What do you guys think of Dave Ramsey? My parents gave me his book for Christmas and are insisting that I read it...

It's good advice for the modern dumbass or average woman, who are really bad for money. For anyone with an average IQ it's not really useful.

okay well, if you're in debt, not saving as much as you want, or in school and have never had to think about personal finance, definitely read it and just ignore the religion part. otherwise, it's just basic stuff with little to learn from. the calls from people 200k in debt making 35k are funny on the show though

his voice, style and acting is grating, I can't stand him so I never figured what his message actually was.

His show is pure JUST kino
youtu.be/fSBwlBdpKSg

Good advice. I also got trapped in the sports car trap. Used the money to get a old toyota and went back to college. He makes it sound so common sense to not fall into debt traps. To all of you saying it's common sense you clearly don't understand the average consumer. They WILL take on debt to show off for instagram. Cars, vacations, luxury clothing.

The average american isn't that smart when it comes to finances. We are encouraged every single day to consume products to show everyone we live a "good" life. His line I like is "live like nobody else so you can live and give like nobody else later in life" solid advice.

He's based for a boomer.

dude debt is bad lmao

I didnt say it was a good book and I'm not shilling shit
I said read those for a different perspective from Dave

but all securities are debt and money is also a from of generalized iou. basically he just says it matters which side of the cock you are on when it's time to suck cock.

This. Rich Dad/Poor Dad was written by a scammer about how to get rich before he made his own fortune by scamming people with this book on how to get rich. Everything in that book is a lie.

As for Dave Ramsey, he’s made a fucking career out of common sense advice that would fit in a single listicle or 2 minute YouTube video. It’s good and he sells the fuck out of it, but it’s nothing special and he gives horrible investment advice. He didn’t get rich by following that advice—he inherited a shitload from his wealthy parents, built a real estate empire by borrowing tons of money to buy and flip foreclosures, then made another fortune recycling and selling the same 2 minutes’ worth of advice for 30 years.

>and he gives horrible investment advice
Fortunately my uncle gave me this one about a year ago, though I haven't really started reading it yet. I'll probably end up reading it after Ramsey's.

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If your parents recommend Dave Ramsey, it says something more about them than it does you.

>Dave Ramsey message:
>> 1. Spend less than you make.
>> 2. Debt is bad. Avoid it.
>> 3. Work multiple jobs and live like a peasant until out of debt
>> 4. Always give 10% of your pay to Jesus, even while paying off debt.
>> 5. Pay off all debt before investing.
>> 6. Buy a house.
>> 7. Invest in mutual funds and have a guaranteed 11-2% return.

That’s it. He’s peddled that same shit for 30 years to be a household name by focusing on marketing to Christians and poorfags. The first 2 points are good. The rest are shit/unreasonable for most people.

If you want to read a book that will get you started on actually getting rich (or at least give you the right mindset) read “The Millionaire Fastlane.” Way better and more honest than shitty celebrity financial books.

Step 1: Save $1000
>Only 39% of Americans have enough savings to cover a $1,000 emergency
cnbc.com/2018/01/18/few-americans-have-enough-savings-to-cover-a-1000-emergency.html

Step 2: Pay off non-mortgage debt from highest interest to lowest interest
>The average non-mortgage debt per household was $24,706.
fool.com/credit-cards/2018/03/25/the-average-americans-debt-balances-anything-look.aspx

Step 3: Save enough money to handle an emergency

Step 4: Put 15%+ in tax-advantage retirement accounts
>Only 16 percent of survey respondents say that they save more than 15 percent of what they make, which is what experts generally recommend.
cnbc.com/2018/03/15/bankrate-65-percent-of-americans-save-little-or-nothing.html

Step 5: Save for large purchases, pay off mortgage, and invest

Its good advice and most Americans need it, so I don't see any problem with him catering his anti-usury message to less intelligent people.

i did all this but i'm now stuck. my investments are going nowhere (except down) and money is accumulating slower and slower proportionally. at first it was easy to double my savings every few months now i can't even get them higher.

Ah yes it's coming back to me now. They played him in some personal finance class. What fucking mutual fund gets you a fucking stable 12% return?

The retirement savings are long-term investments that you don't touch for decades. They go down some years and up some years. If you do dollar-cost averaging (put a fixed amount of money in monthly regardless of the price), then long-term the yearly return doesn't matter.

The reason why is that by doing this it ensures you buy more of the asset when the price is low and less of the asset when its high.

Good question, but he tells his audience they’re out there and it’s a big part of what pisses me off about him. You won’t go broke following his advice (except maybe the “Pay your tithes” part) but you won’t get rich, either.

No mutual fund has a stable 12% return but the stock market over decades averages 10%/yr

i don't want my retirement to take decades 7 years tops that was my goal. it's just getting harder and harder instead of easier and easier.

You can't retire after 7 years unless you're making really good money.

At best the average person can retire comfortably in perpetuity at like 40 if they save most of their money

i'm 39 so yeah 40 would be awesome.

You didn't get in on this 10 year bull run?

...

Dave Ramsey is the kind of advice all young people laugh at who think they'll live forever and make millions effortlessly.
The reality is it's the kind of advice you wake up 40 years later wishing you'd taken all along. Unfortunately it takes those 4 decades to actually figure this out and since you guys are so fucking GODDAMN SMART or think you are, no amount of talking will ever do any good. Experience is the best and worst way to learn anything.

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i was a bit late various shit investments and whatnot started investing into funds that contain stocks and bonds last year mostly developed markets us and stuff. they are all in deep dive ever since.

I understand not being financially versed if your family never prepared you for it, but how can somebody take out loans/refinancing to pay for some silly extravagance like a sports car and expect it to be fine? If you have the money that's one thing, but you deserve to be played like a rube if fall into that as a "trap".

Over 50 years maybe, over 20 years tho you can sometimes get less than 1% real average returns. 60-70s, 2000s to now.

They should’ve given you rich dad poor dad. Read that and then read the bitcoin standard and then the 48 laws of power. You should be good.

There’s good debt and bad debt and you’re using debt to accumulate cash flow generating assets that will pay down the debt and leave you with profit then that’s a better long term strategy. Maybe I’m not a genius but you don’t really need to be to understand this. Ramsey also is against owning hard money (bitcoin/gold) so really anyone who is against that, I have a hard time taking anything they say seriously.

People mistakenly think you buy gold/bitcoin as an “investment”. I think it’s more about conserving your purchasing power so you are able to accumulate capital to invest into bigger assets down the road.

true shit, saw some post about that the other day and was shocked at how poor the ROI really are taking into account inflation

>I think it’s more about conserving your purchasing power
please don't say that to me gold has been fucking me in the ass since 2013 and bitcoin let1s not even talk about bitcoin!