Author Topic: Dave Ramsey  (Read 8629 times)

libertarian4321

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Re: Dave Ramsey
« Reply #50 on: March 04, 2019, 07:09:07 PM »
His advice is generally okay, and can help the financially hopeless get their head above water.

His advice, however, will not be particularly valuable to those who are naturally frugal and are already investing.

His jihad against EVER using a credit card is ridiculous.  I'm pretty sure that for a multimillionaire who pays his credit card in full every month, there is nothing wrong with my using a credit card, but Dave would say that millionaire should NEVER use a credit card.

Also, I can do without the religious proselytizing. 

He closes every show with “Remember, there’s ultimately only one way to financial peace, and that’s to walk daily with the Prince of Peace, Christ Jesus.”

Really, Dave?  This atheist multimillionaire seems to be doing pretty well without "walking with Jesus."

I'm pretty sure there are plenty of other financially secure atheists, Jews, Hindus, Muslims, followers of the Flying Spaghetti Monster, Taoists, etc who are finding plenty of financial peace without walking with Jesus.

princeradar

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Re: Dave Ramsey
« Reply #51 on: March 05, 2019, 10:19:13 AM »
His advice is generally okay, and can help the financially hopeless get their head above water.

His advice, however, will not be particularly valuable to those who are naturally frugal and are already investing.

His jihad against EVER using a credit card is ridiculous.  I'm pretty sure that for a multimillionaire who pays his credit card in full every month, there is nothing wrong with my using a credit card, but Dave would say that millionaire should NEVER use a credit card.

Also, I can do without the religious proselytizing. 

He closes every show with “Remember, there’s ultimately only one way to financial peace, and that’s to walk daily with the Prince of Peace, Christ Jesus.”

Really, Dave?  This atheist multimillionaire seems to be doing pretty well without "walking with Jesus."

I'm pretty sure there are plenty of other financially secure atheists, Jews, Hindus, Muslims, followers of the Flying Spaghetti Monster, Taoists, etc who are finding plenty of financial peace without walking with Jesus.

He knows his audience, he's a smart businessman.  His advice will definitely help people.  I don't mind his credit card advice even though I don't follow it.  Too many people don't have self control.

Livingthedream55

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Re: Dave Ramsey
« Reply #52 on: March 08, 2019, 09:06:01 AM »
@Rasputin
How to clear $80,000 in debt in to years.

Increase income and reduce expenses to yield $3,300 a month:

Post a case study - whittle down every conceivable expense - trim all the fat (stop eating out/takeout, all entertainment is free)
Get a roommate
Get two roomates
Consider a job with free housing (residence director at a college is one example)
Work on weekends
Sell stuff
Create something to sell on Etsy
Comb Craigslist Free Listings and Buy Nothing Groups on FaceBook for everything you need
Barter a skill for something (i.e. I'll rake your leaves if you'll make me dinner once a week)

The above ideas are just ideas - get creative - don't be a "help rejecting complainer" - get out of the problem and into the solution. Maybe you end up paying off your loans in three years instead of two? Don't just dismiss this goal as impossible.

Practice gratitude! Chances are you have "enough" - you have enough housing and clothes and comfort. Check out some YouTube videos of people living out of their cars - it sure is a wake up call for me! Here's one to get you started!

https://www.youtube.com/watch?v=b0EoyTzcFOI
   Check out Dee's can do, problem solving attitude!

gpyros85

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Re: Dave Ramsey
« Reply #53 on: March 13, 2019, 10:14:20 PM »
The only problem I have with Dave Ramsey is he is to optimistic in this math and compound growth rates.

His exact words on the show the other day

"The average car payment is $506, invest this from age 30-60 and you will have 5.7 million dollars... "

The math on that is around 18.1% CAGR...


He is to optimistic knowing people won't do that numbers.

princeradar

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Re: Dave Ramsey
« Reply #54 on: March 14, 2019, 06:49:55 AM »
Here are my thoughts in terms of where he's with respect to financial education.  Dave Ramsey is good for the people from the kindergarten to junior high level of knowledge.  Once you reach that stage self education you need to optimize with some Mustachian principles, start reading and educating yourself, listening to podcasts etc.

But he has a LOT of people that are at this level of knowledge, so he's helping a lot of people.



Car Jack

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Re: Dave Ramsey
« Reply #55 on: March 17, 2019, 12:23:58 PM »
About a year ago, I started watching Dave's videos for entertainment.  For his audience, the getting out of debt advice and list of things to do (baby steps) is a good one.

His audience: Has lots of debt, doesn't know why, doesn't understand things like credit card interest, can't understand simple finance.

His plan: Do THESE STEPS, which are attainable.  For example, one step is to get a $1000 emergency fund.  Why's that good?  Because the people who need to follow a step to do that have likely never had $1000 for an emergency in their life.

Is snowball the best?  Of course not.  Us engineers, mathematicians and other people who understand math easily prove that.  But his audience isn't deciding between snowball and avalanche.  They're deciding whether to try snowball or go buy some lottery tickets with any extra money......and if they get a winner, put that money right back into lottery tickets.

I really like where someone comes on and they have $30k car loan, a mortgage that's 2 months behind, just lost their job and are asking if they should go in with their brother to buy a $300k rental property.  He doesn't pull any punches and lets the caller know with absolutely no doubt that their idea is stupid and that they need to follow the steps and get out of debt.

But stop at that point.  His independent providers are nothing but a cash cow for him.  This includes all of them.  Insurance, real estate, financial advisors.  He passes leads to his providers based on closest zip code.  He does zero checking on his providers.  His providers are nothing more than businesses looking for leads.  Each lead costs money if they generate revenue, plus there's a monthly fee for providers.  The FAs tend to push people to Edward Jones-like garbage investments with loads and high ERs, plus, of course high AUM.

libertarian4321

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Re: Dave Ramsey
« Reply #56 on: March 18, 2019, 04:14:05 PM »
About a year ago, I started watching Dave's videos for entertainment.  For his audience, the getting out of debt advice and list of things to do (baby steps) is a good one.

His audience: Has lots of debt, doesn't know why, doesn't understand things like credit card interest, can't understand simple finance.

His plan: Do THESE STEPS, which are attainable.  For example, one step is to get a $1000 emergency fund.  Why's that good?  Because the people who need to follow a step to do that have likely never had $1000 for an emergency in their life.

Is snowball the best?  Of course not.  Us engineers, mathematicians and other people who understand math easily prove that.  But his audience isn't deciding between snowball and avalanche.  They're deciding whether to try snowball or go buy some lottery tickets with any extra money......and if they get a winner, put that money right back into lottery tickets.

I really like where someone comes on and they have $30k car loan, a mortgage that's 2 months behind, just lost their job and are asking if they should go in with their brother to buy a $300k rental property.  He doesn't pull any punches and lets the caller know with absolutely no doubt that their idea is stupid and that they need to follow the steps and get out of debt.

But stop at that point.  His independent providers are nothing but a cash cow for him.  This includes all of them.  Insurance, real estate, financial advisors.  He passes leads to his providers based on closest zip code.  He does zero checking on his providers.  His providers are nothing more than businesses looking for leads.  Each lead costs money if they generate revenue, plus there's a monthly fee for providers.  The FAs tend to push people to Edward Jones-like garbage investments with loads and high ERs, plus, of course high AUM.

I generally agree.  His stuff is fine for motivating financial basket cases to get out of debt, and maybe motivating them to do more afterward.  I've seen examples where following his advice has pulled the financially hopeless out of debt.

But his investment advice is shaky, at best.  He doesn't recommend no load index funds/ETFs probably because he and his advisers can't make money from them.  So he twists himself into knots trying to justify high expense managed funds as the path to success.

princeradar

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Re: Dave Ramsey
« Reply #57 on: March 19, 2019, 08:18:04 PM »
I agree, his investment advice is weak and he does loose credibility with his smartvestor advisors.

I do enjoy listening to him though, he entertaining and offers some pretty good advice to get people out of debt.

However, is it just me or all of the other Ramsey personalities terrible.  When they sit in for him, I automatically delete the podcast.  His daughter is the worst, she has zero credibility except being his daughter.


englishteacheralex

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Re: Dave Ramsey
« Reply #58 on: March 19, 2019, 11:47:00 PM »
Same. I can't stand the "Ramsey personalities". It's like they're a bunch of yes-men sycophants. I can't get rid of the podcasts with them fast enough.

DadJokes

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Re: Dave Ramsey
« Reply #59 on: March 20, 2019, 10:13:31 AM »
I've tried so hard to like Chris Hogan. He has a good background, the greatest voice for radio/podcasts imaginable, and focuses on a great topic (retirement). But there is zero substance in anything he teaches. It's regurgitating DR's baby steps and telling people to go to a sponsored investment adviser who will load you down with fees.

jps

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Re: Dave Ramsey
« Reply #60 on: March 20, 2019, 10:26:50 AM »
I agree, his investment advice is weak and he does loose credibility with his smartvestor advisors.

I do enjoy listening to him though, he entertaining and offers some pretty good advice to get people out of debt.

However, is it just me or all of the other Ramsey personalities terrible.  When they sit in for him, I automatically delete the podcast.  His daughter is the worst, she has zero credibility except being his daughter.

Seconded. Whenever I hear someone other than him doing the intro to the show I skip outta there!

I think like what DadJokes and englishteacheralex said, it would be better if they were substantially different than DR. But they just re-iterate the baby steps with their individual flair. Hogan's is retirement, Rachel Cruze is being content with your life, and I can't even remember the other ones' names.

englishteacheralex

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Re: Dave Ramsey
« Reply #61 on: March 20, 2019, 11:48:59 AM »
I got the "Everyday Millionaire" book out of the library last week. I was kind of excited because I thought it would be like "The Millionaire Next Door" only updated.

Gah. It was awful. It was like listening to the show with Chris Hogan as a guest. No substance at all, just platitude after platitude. I really wanted to like it, too. "Millionaire Next Door" is one of my favorite books of all time, and I love all the sequels, too, even though they're basically the same thing over and over. Thomas Stanley's voice as an author is kind of quirky and really, really nerdy, but something about it is so loveable.

Chris Hogan...not the same. More sycophantic Dave-isms. I'm ok with all the dumb, tired dad jokes/metaphors/analogies/pep talks when Dave makes them, but they're not good enough to be recycled by someone else. Super disappointing.
« Last Edit: March 20, 2019, 11:51:21 AM by englishteacheralex »

jps

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Re: Dave Ramsey
« Reply #62 on: March 20, 2019, 02:24:54 PM »
I got the "Everyday Millionaire" book out of the library last week. I was kind of excited because I thought it would be like "The Millionaire Next Door" only updated.

Gah. It was awful. It was like listening to the show with Chris Hogan as a guest. No substance at all, just platitude after platitude. I really wanted to like it, too. "Millionaire Next Door" is one of my favorite books of all time, and I love all the sequels, too, even though they're basically the same thing over and over. Thomas Stanley's voice as an author is kind of quirky and really, really nerdy, but something about it is so loveable.

Chris Hogan...not the same. More sycophantic Dave-isms. I'm ok with all the dumb, tired dad jokes/metaphors/analogies/pep talks when Dave makes them, but they're not good enough to be recycled by someone else. Super disappointing.

Can you provide any examples? I thought about borrowing the book from somewhere, but kept hearing Dave say on his show "we didn't write this book for nerds, so there is no statistical analysis. Only motivation" and that was kind of a red flag for me.

englishteacheralex

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Re: Dave Ramsey
« Reply #63 on: March 20, 2019, 03:06:32 PM »
I just flew through it because it was so redundant...I can't even remember it. It was chapter after chapter of...Here's what millionaires do! They save money! Also they don't spend that much money! They show a lot of commitment towards things! Most of them just consistently put money away in their employee-sponsored retirement vehicle! They didn't inherit their wealth! Anybody can do that! 

Each chapter was an entire chapter devoted to one of those topics. Lots of little stories about various millionaires doing boring millionaire things. "Stacy and Joe were an accountant and a research scientist. They put 15% into their 401(k)s and what do you know, they retired with 3.5 million dollars when they were 57. Joe said he never bought a pair of jeans that cost more than $30. Stacy is excited to go on a cruise to the Bahamas in the fall. Yay!" Sort of like how the debt free screams are basically the same thing over and over?

Why have I been listening to this show for 10+ years...arg starting to question my commute time listening choices. My husband mocks me relentlessly for this. It's kind of just white noise.

princeradar

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Re: Dave Ramsey
« Reply #64 on: March 20, 2019, 07:17:42 PM »
I probably listen to his podcasts 3 or 4 times a weak.  I do find him entertaining and truthfully I haven't found a podcast I like better even though I've tried.  Maybe someone can recommend something that's better.

1.  Tim Ferris, I really want to like his podcast, but I just can't seem to stay interested.
2.  Choose FI, it's pretty good, but at times kind of boring.
3. Planet Money - it's not bad, interesting but random topics.
4.  Freakonomics - pretty good, but not a lot of episodes
5.  Mad Fientist - All he does is bring on other podcasters, and always sounds stoned.  I do listen to most of them though.
6.  Afford anything - she's got an amazing voice, and fairly interesting but not as entertaining as Dave.
7.  Etc..

There's probably a separate thread on this..

35andFI

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Re: Dave Ramsey
« Reply #65 on: March 21, 2019, 07:04:01 AM »
I probably listen to his podcasts 3 or 4 times a weak.  I do find him entertaining and truthfully I haven't found a podcast I like better even though I've tried.  Maybe someone can recommend something that's better.

1.  Tim Ferris, I really want to like his podcast, but I just can't seem to stay interested.
2.  Choose FI, it's pretty good, but at times kind of boring.
3. Planet Money - it's not bad, interesting but random topics.
4.  Freakonomics - pretty good, but not a lot of episodes
5.  Mad Fientist - All he does is bring on other podcasters, and always sounds stoned.  I do listen to most of them though.
6.  Afford anything - she's got an amazing voice, and fairly interesting but not as entertaining as Dave.
7.  Etc..

There's probably a separate thread on this..

Check out Bigger Pockets Money

DadJokes

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Re: Dave Ramsey
« Reply #66 on: March 21, 2019, 07:13:44 AM »
I probably listen to his podcasts 3 or 4 times a weak.  I do find him entertaining and truthfully I haven't found a podcast I like better even though I've tried.  Maybe someone can recommend something that's better.

1.  Tim Ferris, I really want to like his podcast, but I just can't seem to stay interested.
2.  Choose FI, it's pretty good, but at times kind of boring.
3. Planet Money - it's not bad, interesting but random topics.
4.  Freakonomics - pretty good, but not a lot of episodes
5.  Mad Fientist - All he does is bring on other podcasters, and always sounds stoned.  I do listen to most of them though.
6.  Afford anything - she's got an amazing voice, and fairly interesting but not as entertaining as Dave.
7.  Etc..

There's probably a separate thread on this..

Dave is certainly entertaining, I'll give him that.

I simply haven't learned anything new from him in years. I know you listed it as boring, but my favorite has been ChooseFI, simply because I feel like I learn something new every episode.

reeshau

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Re: Dave Ramsey
« Reply #67 on: March 21, 2019, 07:56:41 AM »
I probably listen to his podcasts 3 or 4 times a weak.  I do find him entertaining and truthfully I haven't found a podcast I like better even though I've tried.  Maybe someone can recommend something that's better.

1.  Tim Ferris, I really want to like his podcast, but I just can't seem to stay interested.
2.  Choose FI, it's pretty good, but at times kind of boring.
3. Planet Money - it's not bad, interesting but random topics.
4.  Freakonomics - pretty good, but not a lot of episodes
5.  Mad Fientist - All he does is bring on other podcasters, and always sounds stoned.  I do listen to most of them though.
6.  Afford anything - she's got an amazing voice, and fairly interesting but not as entertaining as Dave.
7.  Etc..

There's probably a separate thread on this..

Radical Personal Finance, by Joshua Sheats.  Joshua is a former financial planner; this means that sometimes he can get tripped up on individual questions, because there are a lot of "what ifs."  But it is interesting to hear the thinking that goes behind real answers to specific questions.  Definitely good if other podcasts' answers are too shallow for you.

Financial Independence Europe - FI is still very new to Europe.  Hell, saving for retirement (outside of a public or private pension) is fairly new.  It's interesting to hear strategies when all US-based assumptions are changed.

Money for the Rest of Us, by David Stein.  David's stage presence isn't electrifying, but like Joshua he was also a financial planner, so he has some interesting, deep views on topics you may think you know everything about.

GizmoTX

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Re: Dave Ramsey
« Reply #68 on: March 21, 2019, 11:17:02 AM »
Clark Howard. Lots of timely information on a variety of money related subjects.

DadJokes

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Re: Dave Ramsey
« Reply #69 on: March 22, 2019, 09:50:48 AM »
I decided to listen to his podcast for the first time in a while today...it turns out that he has a cruise now.

https://www.daveramsey.com/cruise

That doesn't sound like a good time at all.

jps

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Re: Dave Ramsey
« Reply #70 on: March 22, 2019, 10:47:36 AM »
I decided to listen to his podcast for the first time in a while today...it turns out that he has a cruise now.

https://www.daveramsey.com/cruise

That doesn't sound like a good time at all.

Ah jeez. As much as I listen to DR podcasts for some entertainment, this sounds like the worst thing I could come up with.

englishteacheralex

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Re: Dave Ramsey
« Reply #71 on: March 22, 2019, 10:50:35 AM »
I just was reading about the cruise--it popped up on social media! I started laughing and my husband came over to look. I think a Dave Ramsey cruise is my husband's definition of hell. There's just so much wrong with the idea, at least in our way of looking at the world.

alcon835

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Re: Dave Ramsey
« Reply #72 on: March 23, 2019, 12:56:39 PM »
I probably listen to his podcasts 3 or 4 times a weak.  I do find him entertaining and truthfully I haven't found a podcast I like better even though I've tried.  Maybe someone can recommend something that's better.

1.  Tim Ferris, I really want to like his podcast, but I just can't seem to stay interested.
2.  Choose FI, it's pretty good, but at times kind of boring.
3. Planet Money - it's not bad, interesting but random topics.
4.  Freakonomics - pretty good, but not a lot of episodes
5.  Mad Fientist - All he does is bring on other podcasters, and always sounds stoned.  I do listen to most of them though.
6.  Afford anything - she's got an amazing voice, and fairly interesting but not as entertaining as Dave.
7.  Etc..

There's probably a separate thread on this..

Radical Personal Finance, by Joshua Sheats.  Joshua is a former financial planner; this means that sometimes he can get tripped up on individual questions, because there are a lot of "what ifs."  But it is interesting to hear the thinking that goes behind real answers to specific questions.  Definitely good if other podcasts' answers are too shallow for you.

Financial Independence Europe - FI is still very new to Europe.  Hell, saving for retirement (outside of a public or private pension) is fairly new.  It's interesting to hear strategies when all US-based assumptions are changed.

Money for the Rest of Us, by David Stein.  David's stage presence isn't electrifying, but like Joshua he was also a financial planner, so he has some interesting, deep views on topics you may think you know everything about.

I second "Radical Personal Finance". At the very least, it is one of the most interesting FI shows out there with truly solid advice and a critical eye.

princeradar

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Re: Dave Ramsey
« Reply #73 on: March 23, 2019, 10:55:08 PM »
I decided to listen to his podcast for the first time in a while today...it turns out that he has a cruise now.

https://www.daveramsey.com/cruise

That doesn't sound like a good time at all.

Ah jeez. As much as I listen to DR podcasts for some entertainment, this sounds like the worst thing I could come up with.

OMG Dave has jumped the shark.  Can he think of anything else to make money now.

princeradar

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Re: Dave Ramsey
« Reply #74 on: March 25, 2019, 07:40:49 AM »
Dave seems to be mentioning his wealth a lot more on his show.  Here's some of the things he's mentioned recently:

1. Has $15M in mutual funds.
2. Mentioned his net worth is hundreds of millions of dollars.
3. Ramsey solutions revenue is $200M/year.

Seems like Dave is doing pretty well.  He's a great businessman.

phildonnia

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Re: Dave Ramsey
« Reply #75 on: March 25, 2019, 02:21:49 PM »
Dave seems to be mentioning his wealth a lot more on his show.  Here's some of the things he's mentioned recently:

1. Has $15M in mutual funds.
2. Mentioned his net worth is hundreds of millions of dollars.
3. Ramsey solutions revenue is $200M/year.


I did notice this recently.  Surprised me, because he's usually pretty coy about his own personal finances, except to mention that he's a multi-millionaire.

As for the cruise -- generally on a cruise you know that everyone there is doing pretty well, but this one seems explicitly designed as a week of bragging and self-congratulation.  And the entertainment is said to include "daily morning devotionals" which is not really how I like to party.  I wonder if Chris Hogan will do the announcements on the PA system?

DadJokes

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Re: Dave Ramsey
« Reply #76 on: March 25, 2019, 02:42:36 PM »
After thinking about it, the cruise doesn't sound completely off-the-rails. Plenty of people in the FI movement go to Camp FI, FinCon, or even Chautauqua. Well, plenty of bloggers and podcasters go, anyway. That also doesn't strike me as a fun vacation, but to each their own.

35andFI

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Re: Dave Ramsey
« Reply #77 on: March 26, 2019, 05:33:59 PM »
I decided to listen to his podcast for the first time in a while today...it turns out that he has a cruise now.

https://www.daveramsey.com/cruise

That doesn't sound like a good time at all.

I wonder if I can pay for it with a credit card...

v8rx7guy

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Re: Dave Ramsey
« Reply #78 on: March 26, 2019, 05:41:21 PM »
I decided to listen to his podcast for the first time in a while today...it turns out that he has a cruise now.

https://www.daveramsey.com/cruise

That doesn't sound like a good time at all.

I wonder if I can pay for it with a credit card...

You can't pay for anything on his website with a CC, so I guess it depends if you're booking thru the cruise line or his website.

vand

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Re: Dave Ramsey
« Reply #79 on: March 26, 2019, 05:55:54 PM »
Yep, Radical Personal Finance is amazing in its comprehensiveness.

Another good one, although it is not longer current, is the Financial Mentor podcast. There's not all that many episodes, but you can learn a lot from what is there.

Neither of these are pure FI/RE podcasts, and are all the better for it.

nick663

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Re: Dave Ramsey
« Reply #80 on: March 26, 2019, 05:58:51 PM »
I probably listen to his podcasts 3 or 4 times a weak.  I do find him entertaining and truthfully I haven't found a podcast I like better even though I've tried.  Maybe someone can recommend something that's better.

1.  Tim Ferris, I really want to like his podcast, but I just can't seem to stay interested.
2.  Choose FI, it's pretty good, but at times kind of boring.
3. Planet Money - it's not bad, interesting but random topics.
4.  Freakonomics - pretty good, but not a lot of episodes
5.  Mad Fientist - All he does is bring on other podcasters, and always sounds stoned.  I do listen to most of them though.
6.  Afford anything - she's got an amazing voice, and fairly interesting but not as entertaining as Dave.
7.  Etc..

There's probably a separate thread on this..

Radical Personal Finance, by Joshua Sheats.  Joshua is a former financial planner; this means that sometimes he can get tripped up on individual questions, because there are a lot of "what ifs."  But it is interesting to hear the thinking that goes behind real answers to specific questions.  Definitely good if other podcasts' answers are too shallow for you.

Financial Independence Europe - FI is still very new to Europe.  Hell, saving for retirement (outside of a public or private pension) is fairly new.  It's interesting to hear strategies when all US-based assumptions are changed.

Money for the Rest of Us, by David Stein.  David's stage presence isn't electrifying, but like Joshua he was also a financial planner, so he has some interesting, deep views on topics you may think you know everything about.

I second "Radical Personal Finance". At the very least, it is one of the most interesting FI shows out there with truly solid advice and a critical eye.
Just have to fast forward through his ranting about whatever goes against his religion.

I unsubscribed after the 2nd time it happened.  That rant was about how marriage was between 1 man and 1 woman.

35andFI

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Re: Dave Ramsey
« Reply #81 on: March 26, 2019, 06:41:19 PM »
I decided to listen to his podcast for the first time in a while today...it turns out that he has a cruise now.

https://www.daveramsey.com/cruise

That doesn't sound like a good time at all.

I wonder if I can pay for it with a credit card...

You can't pay for anything on his website with a CC, so I guess it depends if you're booking thru the cruise line or his website.

Ha! That was just a joke but I guess the answer could actually be no.

princeradar

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Re: Dave Ramsey
« Reply #82 on: March 27, 2019, 12:23:44 PM »
I probably listen to his podcasts 3 or 4 times a weak.  I do find him entertaining and truthfully I haven't found a podcast I like better even though I've tried.  Maybe someone can recommend something that's better.

1.  Tim Ferris, I really want to like his podcast, but I just can't seem to stay interested.
2.  Choose FI, it's pretty good, but at times kind of boring.
3. Planet Money - it's not bad, interesting but random topics.
4.  Freakonomics - pretty good, but not a lot of episodes
5.  Mad Fientist - All he does is bring on other podcasters, and always sounds stoned.  I do listen to most of them though.
6.  Afford anything - she's got an amazing voice, and fairly interesting but not as entertaining as Dave.
7.  Etc..

There's probably a separate thread on this..

Radical Personal Finance, by Joshua Sheats.  Joshua is a former financial planner; this means that sometimes he can get tripped up on individual questions, because there are a lot of "what ifs."  But it is interesting to hear the thinking that goes behind real answers to specific questions.  Definitely good if other podcasts' answers are too shallow for you.

Financial Independence Europe - FI is still very new to Europe.  Hell, saving for retirement (outside of a public or private pension) is fairly new.  It's interesting to hear strategies when all US-based assumptions are changed.

Money for the Rest of Us, by David Stein.  David's stage presence isn't electrifying, but like Joshua he was also a financial planner, so he has some interesting, deep views on topics you may think you know everything about.

I second "Radical Personal Finance". At the very least, it is one of the most interesting FI shows out there with truly solid advice and a critical eye.
Just have to fast forward through his ranting about whatever goes against his religion.

I unsubscribed after the 2nd time it happened.  That rant was about how marriage was between 1 man and 1 woman.

I often wonder what would happen if a gay or lesbian married couple called up and pressed him a bit on his thoughts on their marriage and how they should structure their finances, etc.  I wonder if that would make him uncomfortable.

DadJokes

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Re: Dave Ramsey
« Reply #83 on: March 27, 2019, 12:30:18 PM »

I often wonder what would happen if a gay or lesbian married couple called up and pressed him a bit on his thoughts on their marriage and how they should structure their finances, etc.  I wonder if that would make him uncomfortable.

He seems to handle people who disagree with him very respectfully, something that is fairly lacking in the world of political discussion.

jps

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Re: Dave Ramsey
« Reply #84 on: March 27, 2019, 12:45:34 PM »

I often wonder what would happen if a gay or lesbian married couple called up and pressed him a bit on his thoughts on their marriage and how they should structure their finances, etc.  I wonder if that would make him uncomfortable.

He seems to handle people who disagree with him very respectfully, something that is fairly lacking in the world of political discussion.

IIRC, I once heard a married or engaged lesbian woman call in, and he spoke to her like he would speak to anyone else. He gives advice pretty consistently regardless of who is calling, and generally keeps his advice in the financial lane. If a gay/lesbian couple called and asked how they should structure their finances, he probably answer in the same way that he answers anybody else.

OurTown

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Re: Dave Ramsey
« Reply #85 on: March 27, 2019, 03:00:44 PM »
I listened to the audio book of TTMM years ago.  He does a lot of good for a lot of people.  There are some thing he gets wrong, like the 8% SWR, so beware!  That being said, I really like the free budgeting/tracking tool at everydollar.com.  The free version is fully functional and did I mention it's free? 

phildonnia

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Re: Dave Ramsey
« Reply #86 on: March 27, 2019, 05:46:49 PM »
IIRC, I once heard a married or engaged lesbian woman call in, and he spoke to her like he would speak to anyone else. He gives advice pretty consistently regardless of who is calling, and generally keeps his advice in the financial lane. If a gay/lesbian couple called and asked how they should structure their finances, he probably answer in the same way that he answers anybody else.

I think possibly I may have heard that same call.  In any case, he doesn't usually preach about anything besides money, and I totally believe that he answered a lesbian caller as you say.

DR does rail on people for mingling their finances without being married, but he doesn't give people any heat for being divorced or living in sin, and so on.  I think he feels strongly about it, but just doesn't make it part of the show. 

I've heard things like "If you want to shack up, fine; but don't buy a house." (which I have to say, I kind of agree with, independent of any religious objections.)

thesis

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Re: Dave Ramsey
« Reply #87 on: March 29, 2019, 11:26:54 PM »
Dave's book The Total Money Makeover first got me involved in personal finance. I followed the steps out of debt, and succeeded. And I think if the average person followed all 7 baby steps they would end up in a tremendously better position than just winging it. What I mean is, you could probably use the 7 baby steps as a default guide to your financial life, following cultural norms like retiring at 65, and do extremely well.

The stories in the book and on the radio were very inspiring. Some of the those stories involved young couples paying off their houses in their 30s, and I was mind-blown. That was something I really wanted in my life. Then when I discovered the FIRE community, I realized the non-mortgaged route was, for my goals, even better. In some ways, it was the perfect transition because Dave got me out of debt, and FIRE got me into investing and living even more strategically below my means.

Dave's definitely selling a product, but I think it's a good product. And yeah, the message hasn't changed, so there's really nothing new to learn there, but that's fine because people from all walks of life keep discovering it, and need to. I occasionally go story hunting, I really love seeing people's lives dramatically changed for the better as they get their financial crud together. I do often read some FIRE snobbery toward his ideas (not all unwarranted), but I have a soft spot in my heart for it all :)

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Re: Dave Ramsey
« Reply #88 on: April 08, 2019, 03:28:37 PM »
IIRC, I once heard a married or engaged lesbian woman call in, and he spoke to her like he would speak to anyone else. He gives advice pretty consistently regardless of who is calling, and generally keeps his advice in the financial lane. If a gay/lesbian couple called and asked how they should structure their finances, he probably answer in the same way that he answers anybody else.

I think possibly I may have heard that same call.  In any case, he doesn't usually preach about anything besides money, and I totally believe that he answered a lesbian caller as you say.

DR does rail on people for mingling their finances without being married, but he doesn't give people any heat for being divorced or living in sin, and so on.  I think he feels strongly about it, but just doesn't make it part of the show. 

I've heard things like "If you want to shack up, fine; but don't buy a house." (which I have to say, I kind of agree with, independent of any religious objections.)

Well Dave just had a gay caller on the show.  If you'd like to hear his reaction, it's the first caller, start around 4:00 :

https://www.daveramsey.com/show/archives/2019-04-05/2?mode=listen

Spoiler:  He does not care.

Buffalo Chip

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Re: Dave Ramsey
« Reply #89 on: April 10, 2019, 09:49:52 AM »
I look at DR as a sort of gateway drug to FI. I used to listen a lot to his podcasts, but have pretty much quit. Took FPU many years ago, and retook one session recently.

I agree with other posters; baby steps 1-4 are rock solid but beyond that you have to really think it through. Baby steps 5-7 are sort of OK advice for people who need something, but not for the folks who are on the bleeding edge and want to really do the heavy lifting to maximize their long term wealth.

I’d use the analogy of selling tequila. The FI community drinks the best quality, and has an appreciation for the nuances. But most tequila that is consumed is in margaritas. If your objective is to sell as much tequila as possible, then do you really care?

innkeeper77

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Re: Dave Ramsey
« Reply #90 on: April 10, 2019, 10:17:11 AM »

I have $80,000 in student loans. No way I can clear that in 2 years

Seriously, his advice to you would be to deliver pizzas at night.  This is where I get a little skeptical.

It's an antectdotal story, but I delivered pizza for about a year and a half at night after my full time salaried job, driving a $3000 car. The $15k or so profit after tax and gas helped significantly. We didn't have any children at the time, but that is the case for a lot of people. It was even sort of fun!

I've listened to DR a couple of times and wasn't impressed, but I don't think this aspect of his advice is wrong.
« Last Edit: April 10, 2019, 10:25:21 AM by innkeeper77 »

RollingGreen

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Re: Dave Ramsey
« Reply #91 on: June 11, 2019, 08:51:23 PM »
IIRC, I once heard a married or engaged lesbian woman call in, and he spoke to her like he would speak to anyone else. He gives advice pretty consistently regardless of who is calling, and generally keeps his advice in the financial lane. If a gay/lesbian couple called and asked how they should structure their finances, he probably answer in the same way that he answers anybody else.

I think possibly I may have heard that same call.  In any case, he doesn't usually preach about anything besides money, and I totally believe that he answered a lesbian caller as you say.

DR does rail on people for mingling their finances without being married, but he doesn't give people any heat for being divorced or living in sin, and so on.  I think he feels strongly about it, but just doesn't make it part of the show. 

I've heard things like "If you want to shack up, fine; but don't buy a house." (which I have to say, I kind of agree with, independent of any religious objections.)

Well Dave just had a gay caller on the show.  If you'd like to hear his reaction, it's the first caller, start around 4:00 :

https://www.daveramsey.com/show/archives/2019-04-05/2?mode=listen

Spoiler:  He does not care.
Wow, thanks for sharing that clip. I truly didn't think there were any gay couples featured on the DR Show (whether call-ins or debt-free screamers.) I never thought he would be different towards them; I just thought his religious views kept gay people/couples from any air time.

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