Dave Ramsey, How Could You?
Dave Ramsey, a well-known talk show host, is brilliant when it comes to managing spending, debt, and real estate. I recommend his books in my books and frequently hand out his DVD’s on budgeting and cash flow management. However, when it comes to understanding investments and portfolio withdrawal rates, Dave could use a little education.
Rick Kahler, CFP, resides in Rapid City, South Dakota and is a fee-only Financial planner. He is the co-author of “The Financial Wisdom of Ebenezer Scrooge” and “Conscious Finance,” both available on Amazon.com. You can learn more about Rick at wwww.kahlerfinancial.com.
Duration : 0:5:36
Try putting a 12% …
Try putting a 12% growth rate and an 8% withdrawal rate into a Monte Carlo simulation and the result will come out 0. But I wouldn’t expect the other commenters to understand what I’m talking about…….
Sir – I completely …
Sir – I completely agree. The people bashing you here aren’t investment professionals so don’t really know what you’re talking about. As a fellow-fee-only financial planner, I cringe every time Dave gives his “canned” investment advice to EVERYONE who asks. Granted he does say to use one of his ELPs but I agree that he is a great salesman/marketer rather than investment professional.
Dave has advocated …
Dave has advocated portfolio diversity since the beginning concerning investments. From my understanding, he’s advocated mutual funds because they have been around and produced for a long time, no matter what the economy is doing. I could be wrong, but it’s kind of a toroise vs. hare thing.
I’d like to slap …
I’d like to slap Dave Ramsey in the face with an open palm repeatedly for calling Peter Schiff an idiot. Schiff has been correctly predicting trends for years, and this a-hole has the nerve to talk him for saying we would have a crash in 08. Ramsey is NOT a financial guru. He clearly doesn’t even understand basic economics.
No. I don’t want to …
No. I don’t want to buy MonaVie
Do some of you just …
Do some of you just comment without listening to this video? The point was not to push REITs or any other et class. The point was to highlight the lack of due dilligence that Dave gave to his statement….which was just plain wrong! Yes, indeed, REITS have tanked shince then….so have those “good growth mutual funds” along with every other et class. It’s too bad you didn’t have a diversified portfolio with 5 or more et classes represented, if you had, your wouldn’t be as sore.
Just another broker …
Just another broker trying to get you to invest in a bogus deal. REIT funds a.k.a Real Estate Investment Trust funds were TANKING when this guy made this video. This video was made right as the real estate industry was getting the kicked out of them and then it fell dead. I KNOW because I was invested heavily in them.
Thank you for …
Thank you for pointing this out. Ive been listening to his show for a couple of years now. What you are saying is HUGE! You know , there is alot of misinformation out there, and right now in the media, it seams like the threads have come loose. Im glad I took his advice with a grain of salt, with regards to investments. However, my cash flow has never been better since I ve been paying off my debt. Well done Sir.
Great video, The …
Great video, The truth always hurts. I agree with nearly everything your saying except for your recommendations to buy mutual funds. They’re all crap. Buy stock.
No conflit Ms. …
No conflit Ms. Trinastigger….I am not a stock broker…don’t sell a thing….just facts.
Maybe you should …
Maybe you should actually listen for longer than 11 minutes… break the chains off your stock broker brain.. and go to a Financial Peace University. I smell Conflict of interest here…
You got that right! …
You got that right!!!! Dave has good advice!
You all need to …
You all need to listen to Dave, he never never tell anyone to invest all of your money in one basket. also you need to listen to Dave he gives advice on what might be a good place to invest your money, its your decision so everyone who is critical of Dave, shut up!!!!, take responsibility and invest your money the way you want to don’t blame Dave for what happens to your money, because you invested it
You did’t mention …
You did’t mention the Vanguard Rate Index fund? In Daves course he mentions that there are funds that our perform others but you just kindly didn’t mention that did you? He also teaches to learn and investigate before purchase. Looks to me that you are just trying to sell your own service as a fee based planner and your own books. Maybe you should do a little more research and attend one of Daves courses then form an opinion. I’m a advisor and I Don’t always agree with him but I don’t bash him.
Are you sure you …
Are you sure you left comments regarding the right video?
I don’t comment on any fund names in this video. Neither am I a broker or do I sell any products. Maybe you should listen to the video first before posting next time?
It is amazing that …
It is amazing that the author is using fund names and being very general according to Dave. Why don’t you sell your stuff a little more. I have been through Daves Fianancial peace University course and Your comparison is twistedly informative. You are twisting Daves Information. Why don’t you have the guts to take Dave on Directly rather than sell your own stuff. Typical agent way of responding. If you would actually do what you say you do and listen to a whole course, you might see the truth.
Dave Ramsey changed …
Dave Ramsey changed my life with his unwise, unlearned, off-the-cuff advice. I’m sitting pretty now with the dollar and the economy crumbling. Mr. Kahler, I only hope your clients sleep as soundly as I do every night. Have a good cyclical downturn.
“Dave Ramsey, How …
“Dave Ramsey, How Could You?”
Because he is right!
Dave Ramsey and his …
Dave Ramsey and his timeless financial advice. And on 2/20/’09 the dow jones sits at 7,300 and change.
Vanguard Reit in …
Vanguard Reit in 2009 over -40% return. Imagine if you listened to his advice in 2007 and bought lots of this stuff!!!
People all over the …
People all over the country watched their home appreciation obliterate before their eyes. Decades of saving in their IRA—-gone in a flash. Millions preparing to retire—–will now work until the day they drop dead.
The men leading the sheep to slaughter do not need blind defending.
Ramsey—and the rest of the ‘experts’ have no shame.
To have not had Clue One about what was coming—-and call yourself an expert, bragging quite regularly—is indefensible.
I’m ed at all …
I’m ed at all Financial ‘Gurus’ right now. They are all experts ‘after the fact’. These same Bozos that told us to go without New cars and take less vacations while you stuff your IRA account—-are now all going to write books about the CRASsssssSSSh and why it happened—–TOO FUNNY.
Ramsey’s DNA was dipped in real estate. He considers himself the Grand Pubah of real estate.
He has a Master’s Degree in Common Sense. But people lost billions listening to him.
1.) Desperate woman …
1.) Desperate woman was NOT a verified charity case… in other words, the people making donations did NOT have a guarantee that their funds were actually going to help the woman’s supposed situation. Listen to the WHOLE episode – he explains why they don’t take donations for callers.
lol your funny bud …
lol your funny bud all your doing is plugging the vanguard index fund you must work for them lol
Ramsey recently had …
Ramsey recently had a desperate woman with 10 kids call in. She didnt have 2 nuickles to rub together..People called in after hearing her plight. They wanted to donate and help her—immediately.
He said No. We dont do that here. She must go to her church—-blah blah.
A 61 year old widow called with $500K in an IRA, a paid off home, and nice income. She called in for advice—-she wanted a New car. Never had one her whole life. He said NO. Get a nice used one.