Why do people hate dave ramsey

I read this blog for YOUR content, so what the others say is irrelevant to me whether they agree, or disagree on my position. Still a faithful reader, Randy. Randy, you have a good point. For most of my articles, the comments have been helpful because people can ask further questions and share their own experiences with others. This article, however, has elicited some very unhelpful comments. I try to eliminate them, but some got through while I was on vacation, which you probably read.

I understand your concerns, Douglas. He does sell his influence for a fee. People want his recommendations. You could argue that it would actually be irresponsible of him to tell people to take these steps with their financial lives without giving them the ability to act on his advice by connecting them with professionals that will follow his advice. That was a great read, Amy. Let me tell you, it has changed the way we think and see money.

Good job on the Ramsey perspective. And I agree with all of it. I have done very well listening to his advice. Im a Dave Ramsey fan!!! Being in an other country makes Some of his advice be not applicable, but His principles and view on how we should be good stewards of our money cross cultures. Thanks for writing this Amy. Certain financial products and tax policies are unique to the US, but biblical financial principles are not limited to any country or even any time period.

I find him to be very hypocritical at times. Although his financial principles are hit or miss for me yes, the smaller your debt the better, but his teachings are very dogmatic in a one size fits all method, and human finances are very much one size fits all , his personality is the reason I do not recommend him to others.

He does reiterate that having a heart of a teacher is one of the best personality traits, but can you imagine your favorite elementary school teacher calling you stupid? Is that the best way to teach someone? Jesus has numerous parts in the gospel where he says that one should not be arrogant nor prideful. Dave should not get a pass on that just because he is a super rich guy that has a good message for other people to become rich.

You make some very good points, Mike. I like your example of using his methods in an elementary school setting. He Is Rich Dave Ramsey is rich.

What Financial Advisors Have Against Dave Ramsey While many financial professionals agree with a lot of the complaints outlined above, there are a few points of contention unique to the financial services industry. He Gives Blanket Recommendations A major complaint that financial advisors have is that Dave Ramsey gives blanket recommendations, meaning he applies the same advice to everyone without personalizing it.

How To Have A Healthy Perspective Of Dave Ramsey As with many polarizing figures, I believe that many people have an unhealthy perspective of Dave Ramsey on both ends of the spectrum, just as much those who love him as those who hate him.

He Is Providing A Framework Dave Ramsey provides a framework for personal financial management designed to meet the needs of the most people possible. Randy June 7, Amy June 7, Randy August 17, Amy August 19, June 7, Amy June 9, Tyrone P Jones June 8, In my case, I found other experts who inspired me.

After reading "The Automatic Millionaire" by David Bach , I set up automatic payments and savings so I wouldn't have to do anything manually. This strategy has saved me a lot of time and stress, as well as helped me save without even realizing it. Like Ramsey, Orman teaches some strict money rules. But hers revolve around saving more than eight months of expenses in an emergency fund and focusing on building your credit score. Her tips and insights fit my values, and they've challenged me with different ways of thinking.

Over the years, I've had to learn that the world isn't as black-and-white as I once thought. Similarly, there's no one-size-fits-all formula for becoming financially successful. It's okay that my values and goals are changing. But I also need to remind myself that it can be just as acceptable for others' priorities to look like mine did when I was Laura Grace Tarpley is the associate editor of banking and mortgages at Personal Finance Insider, covering mortgages, refinancing, bank accounts, and bank reviews.

Over her four years of covering personal finance, she has written extensively about ways to save, invest, and navigate loans.

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The best investment apps. The best stock trading apps. Best robo advisors. As far as the mortgage debt goes, I again have to side with Dave. Being free from mortgage payments frees up a ton of money that can be used for other purposes such as saving and giving.

In the context of retirement stewardship, it makes even more sense. My advice: Take out a 15 year mortgage if you can handle the slightly higher payments and get your house paid for before you enter your retirement years, if not sooner. Lots of financial advisors, financial writers, and others have called him out on this claiming that he is misleading investors with those high numbers.

I alluded to this above, and will write more about it on this blog. It was started in and has averaged a What he is really all about is motivating you to do something — get out of debt, save, invest for the future, and give.

Remember, Dave is first and foremost a motivator. Should you still save and invest some money for retirement? The answer is, yes, of course.

The other area that financial professionals take issue with Dave is his investment portfolio recommendations. His basic recommendation on his web site and in FPU is as follows:.

Choose A-shares front end load and funds that are at least five years old. They should have a solid track record of acceptable returns within their fund category. In his book Complete Guide to Money ; Dave says this about investing in debt fixed income securities such as bonds,. As I stated in my last article about Dave, he makes no secret that he is a Christian. Anyone who has studied the Bible will see multiple verses and proverbs warning about debt and usury.

For Dave and many other Christians, profiting from debt would be considered inconsistent with biblical teaching. Full Disclosure: As I am nearing retirement, I currently have a sizable part of my own portfolio in cash and debt instruments. But in spite of that, I think it is completely valid to invest in an all-stock mutual fund or Exchange Traded Fund ETF portfolio, as long as you understand the risks, which are substantial.

In fact, looking back, I wish I had been a little more aggressive during my earlier years when I could afford to take more risk.

The model with a zero bond allocation is the most aggressive, of course. So, I think you can certainly take up an argument with Dave over some of these nitty gritty investment details, but then that would be missing the whole point of what he teaches.

As with the debt issue, Dave has developed a very simple, repeatable message that his broad audience can understand and easily implement. He will also share scriptures from the Bible and what is says about money, which happens to be a LOT! They prefer that Dave keep God out of the discussion so that what God says is not relevant to them and that he keep his theology to himself.

Well, what can I say? The interesting thing about this is that although Dave does appeal to a lot of Christians, some of his materials have also found their way into schools, the military, and secular companies, although they may have fewer Biblical references and Christian teachings. So I think the bottom line here is that his plan works for Christians and non-Christians alike.

The to bull market is gone and is not going to return any time soon. You can still build up the kind of nest egg he talks about, but you have to invest more yourself.

However, he goes too far, stating unequivocally that credit cards are bad and that people should live without them. This flies in the face of his usual message, which is that personal responsibility is what really matters.

A personally responsible person — one who does not carry a balance on their cards — can use credit cards as tools. Instead, each month the statement comes in and we just send out a check.

We make an effort to save larger purchases until we have such a discount. All we did is use the card on gas and minor auto expenses and pay off the balance each month. This is a great way to get rid of those debts as fast as possible, of course. How exactly, pray tell, can one negotiate themselves out of a job loss in a tight job market, or barter when it comes to a broken arm?