Dave Ramsey: The Legacy Journey

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Set40
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Dave Ramsey: The Legacy Journey

Post by Set40 »

I recently attended one of Dave Ramsey's live events. I'd like to share my experience in case someone is contemplating going:

Light on content, but heavy on solicitation & marketing. Overall somewhat entertaining and funny. Both Dave and his daughter shared maybe 5-6 main content points each. They were friendly & spoke clearly to the audience. This is not a how-to workshop. There was a 30 minute break right in the middle of the presentation which was not needed and way too long. It was a great opportunity to interact with their sponsors of course. I left the event wanting more usable, practical information. Maybe I need to buy their new book? I'm glad I had a chance to go, but I'm glad my tickets were free.
Alchemist
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Re: Dave Ramsey: The Legacy Journey

Post by Alchemist »

Sounds about right for Dave Ramsey. He has good advice and motivation for people who have made a mess of their finances in order to help them get back on solid ground, but beyond that it is vaporware. He is a good speaker and entertainer but I'd stay pretty far away from paying for anything of his unless it is the Total Money Makeover for someone who really needs a kick in the pants to get out of debt.
Calm Man
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Re: Dave Ramsey: The Legacy Journey

Post by Calm Man »

I heard him a few times when he was on a NYC radio channel and I was commuting at the time. WOR I think. He is not on anymore. But I wasn't aware he was selling anything. Is it just paying to attend or does he have a product he sells?
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Re: Dave Ramsey: The Legacy Journey

Post by Toons »

Set40 wrote:I recently attended one of Dave Ramsey's live events. I'd like to share my experience in case someone is contemplating going:

Light on content, but heavy on solicitation & marketing. Overall somewhat entertaining and funny. Both Dave and his daughter shared maybe 5-6 main content points each. They were friendly & spoke clearly to the audience. This is not a how-to workshop. There was a 30 minute break right in the middle of the presentation which was not needed and way too long. It was a great opportunity to interact with their sponsors of course. I left the event wanting more usable, practical information. Maybe I need to buy their new book? I'm glad I had a chance to go, but I'm glad my tickets were free.
My 2 cents worth,you don't need to buy the book.Go to his website,listen to his radio shows via the internet,or search his name on Youtube and there are plenty of videos to watch.The books pretty much contain what you will see on the web. :happy
In a nutshell,,,the "Baby Steps"

http://www.daveramsey.com/new/baby-step-1/
"One does not accumulate but eliminate. It is not daily increase but daily decrease. The height of cultivation always runs to simplicity" –Bruce Lee
Mike Scott
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Re: Dave Ramsey: The Legacy Journey

Post by Mike Scott »

It seems that he has moved towards selling more stuff/services (besides his books). Which is too bad because he has helped a lot of people get out of their financial messes.
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Set40
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Re: Dave Ramsey: The Legacy Journey

Post by Set40 »

Calm Man wrote:I heard him a few times when he was on a NYC radio channel and I was commuting at the time. WOR I think. He is not on anymore. But I wasn't aware he was selling anything. Is it just paying to attend or does he have a product he sells?
He was pushing his sponsors BIGTIME, not necessarily his own products. I enjoy listening to his radio show for the few minutes he is on in between commercial breaks. He is obviously #1 a business man, #2 an educator.
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Re: Dave Ramsey: The Legacy Journey

Post by Toons »

Mike Scott wrote:It seems that he has moved towards selling more stuff/services (besides his books). Which is too bad because he has helped a lot of people get out of their financial messes.
+1 :happy
"One does not accumulate but eliminate. It is not daily increase but daily decrease. The height of cultivation always runs to simplicity" –Bruce Lee
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Re: Dave Ramsey: The Legacy Journey

Post by Spades »

I would say that the Legacy Journey really just focuses on Baby Steps 4 and above. It's mainly about continuing to stay out of debt, preserving and building wealth, and being a blessing to family and others. I do find that there is little content to really cover for people on these steps, because it doesn't cover saving or wise consumption. I've heard that the leadership book he put out is more worthwhile than this one. I'll probably wait to get the book when I find it at Goodwill.

:sharebeer
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Re: Dave Ramsey: The Legacy Journey

Post by Johm221122 »

There is no need for Dave, you have Bogleheads
http://www.bogleheads.org/wiki/Getting_started

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Re: Dave Ramsey: The Legacy Journey

Post by Spades »

Johm221122 wrote:There is no need for Dave, you have Bogleheads
http://www.bogleheads.org/wiki/Getting_started

John
+1

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Re: Dave Ramsey: The Legacy Journey

Post by jimb_fromATL »

Mike Scott wrote:It seems that he has moved towards selling more stuff/services (besides his books). Which is too bad because he has helped a lot of people get out of their financial messes.
...And since most of them don't understand anything about how money works, they'll never know that his plan to postpone all retirement contributions ... including matching payments... in order to eliminate that evil debt as quickly as possible without regard to the consequences and lost opportunity costs could easily have cost them anywhere from tens to hundreds of thousands to sometimes millions of dollars out of their future retirement income in exchange for saving only a tiny fraction as much interest that the after-tax money would save on the short-term debts.

jimb
Lynette
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Re: Dave Ramsey: The Legacy Journey

Post by Lynette »

I'm attending his class - starting this week. I've mixed feelings. I wanted to figure how much I could spend when I retire. I've got YNAB - could likely have used an Excel spreadsheet. I have no debt and pensions and SS at 70 that should be enough. I'm concerned about inflation eroding my pensions. I used one of the calculators on his website - too simplistic - think it said I'd run out of money soon :D There was no place to enter SS or pensions. I guess it also depends on the instructors and the audience. Most of the members of the church are quite well educated - of course that doesn't make them smart with their money. It is definitely light on content .. I'll see.
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Re: Dave Ramsey: The Legacy Journey

Post by Zecht »

Honestly there is very little that you can't get from his website or his previous speaking engagements on youtube. The people I know that have done the "Total Money Makeover" stuff are kind of odd since they paid a non-trivial amount of money for someone to start and stop a recorded iteration of the baby steps, and suggest that they not make dumb decisions. I found it full of common sense and useless for most anything else.
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Re: Dave Ramsey: The Legacy Journey

Post by bluemarlin08 »

One thing you can bet on, his sponsors paid Dave handsomely to sponsor the event.
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Re: Dave Ramsey: The Legacy Journey

Post by bungalow10 »

jimb_fromATL wrote:
Mike Scott wrote:It seems that he has moved towards selling more stuff/services (besides his books). Which is too bad because he has helped a lot of people get out of their financial messes.
...And since most of them don't understand anything about how money works, they'll never know that his plan to postpone all retirement contributions ... including matching payments... in order to eliminate that evil debt as quickly as possible without regard to the consequences and lost opportunity costs could easily have cost them anywhere from tens to hundreds of thousands to sometimes millions of dollars out of their future retirement income in exchange for saving only a tiny fraction as much interest that the after-tax money would save on the short-term debts.

jimb
I think you are being a little dramatic. Most of his callers are out of debt in 6-7 months. Many probably don't make much money, and/or don't have a match, and eliminating that mental excuse to continuing to be in debt is worth a lot more (emotionally and in long-term interest cost) than the $1-2k they lose in the match.
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Re: Dave Ramsey: The Legacy Journey

Post by feh »

I consider him a huckster. Stories like the OP's only strengthen that opinion.

All the methods/info people need to get out of debt is available for free. This web site is a fine example.
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Re: Dave Ramsey: The Legacy Journey

Post by Spades »

feh wrote:I consider him a huckster. Stories like the OP's only strengthen that opinion.

All the methods/info people need to get out of debt is available for free. This web site is a fine example.
I was a co-leader in a financial coaching ministry and I would say that there is a sizeable minority that need this information. Common financial sense and current financial scam prevention advice are not being teached in school or by all parents. It's a small niche advice market he's cornered I think. I think saying huckster is too far, probably more like an energetic common sense salesman (sorry for making it wordy).
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Re: Dave Ramsey: The Legacy Journey

Post by Seattlenative »

Lynette wrote:I'm attending his class - starting this week. I've mixed feelings. I wanted to figure how much I could spend when I retire. I've got YNAB - could likely have used an Excel spreadsheet. I have no debt and pensions and SS at 70 that should be enough. I'm concerned about inflation eroding my pensions. I used one of the calculators on his website - too simplistic - think it said I'd run out of money soon :D There was no place to enter SS or pensions. I guess it also depends on the instructors and the audience. Most of the members of the church are quite well educated - of course that doesn't make them smart with their money. It is definitely light on content .. I'll see.
Are you attending Ramsey's most common course, Financial Peace University? Legacy Journey is a "follow-up" course intended for those who have mastered what's taught in FPU. My wife and I participated in FPU three times. Much of what was covered was familiar to us. However, when applying for a home loan a year ago, my credit-card-free wife learned that having a ZERO credit score was a huge drawback. One lender was willing to issue a home loan based solely on MY income, but that sharply limited our ability to purchase the home we wanted because my wife's income is slightly higher than mine. Through some tap-dancing with two CC issuers to have my wife and I re-apply so she would be a joint accountholder, we qualified for a home loan with very reasonable terms and rates.

The previous 13-week version of FPU, though somewhat dated, contains a bit more content than the current 9-week version. Here are a few areas where I disagree with what Ramsey teaches:

1. Ramsey talks about the virtues of selling off a late-model car with car payments in order to free up cash flow for paying down debt, substituting a cheap "beater" car purchased with cash. However, Ramsey does not say ONE WORD about financing typical repairs and maintenance expenses for an older "beater" car, which will be higher than for a late-model car. While driving an older, depreciated-out motor vehicle does cost less on a per-mile basis than a brand-new model, Ramsey neglects to admit that previous drivers of cheap "beater" cars often avoid routine scheduled maintenance and repairs. I personally drive a 10-year-old subcompact sedan with a standard 5-speed transmission, while my wife drives a nicer 6-year-old compact sedan, both of which we own free-and-clear, so I'm not opposed to the idea of driving an older car, just pragmatic here.

2. Ramsey praises money-market mutual funds as THE place for stashing one's fully-funded emergency fund, but for the past six years, money market mutual fund rates have been a bit LOWER than rates with FDIC-insured banks or NCUA-insured credit unions. In 2008-2009 a few money funds "broke the buck" such as the Russell MMF, Schwab's YieldPlus MMF, and all of The Reserve's various MMFs. I would not necessarily be paranoid about MMFs but if the interest yields on MMFs are lower than insured bank deposits, then what's the point?

3. Ramsey endorses high-deductible health benefits or insurance plans with a Health Savings Account, which can be a great choice for some individuals and couples but which are more problematic for families or for lower-income Americans.

4. Ramsey claims that it's easy and commonplace to earn 12% rates of return. The charts shown during the FPU videos show a mathematical 12% compounded year-after-year, almost like Bernie Madoff. To the masses of those attending FPU classes, seeing Ramsey's path towards accumulating a $1 million nest egg, it's bound to lead to disappointment down the road. Can you imagine the difficulty for ELP full-service brokers (enrolled in Dave Ramsey's Endorsed Local Provider program) explaining this to investment neophytes who just completed the FPU course?

So in sum, while I do think Ramsey's Financial Peace University is a very good teaching curriculum for those who want to learn better basic money-management and debt-elimination skills, I have some misgivings about parts of his course. As for "beginning personal finance" books and media, the books by Eric Tyson (including his "Dummies" series books) are excellent, and I'd give high marks to Clark Howard. Suze Orman's programs are pretty good although I prefer Tyson and Howard. Certainly, I enjoy watching Suze's "Can I Afford It" segments.
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Re: Dave Ramsey: The Legacy Journey

Post by drawpoker »

With the media-driven culture we live in now people with no credentials at all for what they are doing can become celebrities and lifestyle gurus almost overnight. Showmen (or show-women in case of S. Orman) on TV, in syndicated newspaper columns, and on the road hawking their wares (books, tapes, whatever) in personal "appearances".
Frankly, I sometimes think the only reason these people acquired a name for themselves and a following is for the hordes of people who got in over their financial heads, running up credit cards to limits, buying houses they couldn't afford, overspending on lavish weddings, and otherwise engaging in conspicuous consumption up to their eyeballs.
When, or IF, these people finally realize how foolish they were -- sure makes them somehow feel better to know there are others in the same boat. Makes them feel so much better to know they are part of a large fraternity. Ramsey and Orman feed on this principle, and are milking it for all its worth.
I wouldn't buy so much as a stick of gum from either one. Even if it was marked down to 75% off.
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Re: Dave Ramsey: The Legacy Journey

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Re: Dave Ramsey: The Legacy Journey

Post by bungalow10 »

feh wrote: All the methods/info people need to get out of debt is available for free. This web site is a fine example.
Bogleheads.org is an example of a good website for financial literacy, but even here you see people who say that student loan debt isn't bad, and advice encouraging people to borrow for cars.

The mere fact that this site and it's wiki exists are great examples of why people like Dave Ramsey exist. Media is rife with encouragements to borrow money - even articles and sites that claim to be teaching people financial common sense. Think about the last recession - people were encouraged to borrow for homes (or cash how refis for remodels), cars, 0% credit card, student loans. These were are considered smart money decisions.

At least Dave tries to help people get out of debt before he tries to take a chunk of their investment contributions :twisted:
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Re: Dave Ramsey: The Legacy Journey

Post by Lynette »

.....
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Seattlenative
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Re: Dave Ramsey: The Legacy Journey

Post by Seattlenative »

bungalow10 wrote:
feh wrote: All the methods/info people need to get out of debt is available for free. This web site is a fine example.
Bogleheads.org is an example of a good website for financial literacy, but even here you see people who say that student loan debt isn't bad, and advice encouraging people to borrow for cars.........The mere fact that this site and it's wiki exists are great examples of why people like Dave Ramsey exist. Media is rife with encouragements to borrow money - even articles and sites that claim to be teaching people financial common sense. Think about the last recession - people were encouraged to borrow for homes (or cash how refis for remodels), cars, 0% credit card, student loans. These were are considered smart money decisions.........At least Dave tries to help people get out of debt before he tries to take a chunk of their investment contributions :twisted:
Wise thoughts. I really don't like consumer debt and am amazed at how many people in America think that debt products - such as home equity loans and home equity lines of credit - are "shrewd" choices for the "savvy" consumer.
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Re: Dave Ramsey: The Legacy Journey

Post by carolinaman »

I enjoy listening to his radio program when I can get it. He has good advice for a variety of situations, including some more complex ones. However, my wife and I attended a multi-session program at our church that presented a video series of his. It was much more about him entertaining than it was about content. I was very disappointed in that and dropped out after 3 sessions. He seems to have morphed into more of an entertainer than an adviser, which is how he started. Too bad.
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Re: Dave Ramsey: The Legacy Journey

Post by Seattlenative »

johnep wrote:I enjoy listening to his radio program when I can get it. He has good advice for a variety of situations, including some more complex ones. However, my wife and I attended a multi-session program at our church that presented a video series of his. It was much more about him entertaining than it was about content. I was very disappointed in that and dropped out after 3 sessions. He seems to have morphed into more of an entertainer than an adviser, which is how he started. Too bad.
Ramsey changed the course content two years ago from a 13-week to a 9-week class. Even more than in the past, he is an entertainer. Personally, I am glad that I did NOT terminate my three credit cards, which I use sparingly and pay in full monthly. When we applied for a home mortgage a bit over a year ago, my wife had a zero credit score and it took some quick tap-dancing to reapply for two of the cards so that she would have a credit score. (The age of the existing accounts was not affected, both of them are more than ten years old). They key here is to use credit cards very cautiously like cash, and don't carry revolving balances ever. More recently, we applied for a fourth credit card, the BofA Cash Rewards card which is linked to a BofA Preferred Rewards Gold package. It earns some very, very nice cash-back rewards but again, we primarily use it to buy gasoline and groceries at Fred Meyer, which does NOT impose a surcharge for credit card payment at the gas pumps.
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Re: Dave Ramsey: The Legacy Journey

Post by White Coat Investor »

Nothing wrong with the class, but someone who reads Bogleheads regularly isn't going to learn much from it. I have a few minor beefs with Ramsey, but they're mostly on the investment side rather than the debt management side.

http://whitecoatinvestor.com/how-dave-r ... ou-astray/
1) Invest you must 2) Time is your friend 3) Impulse is your enemy | 4) Basic arithmetic works 5) Stick to simplicity 6) Stay the course
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Re: Dave Ramsey: The Legacy Journey

Post by Lynette »

Seattlenative wrote: 2. Ramsey praises money-market mutual funds as THE place for stashing one's fully-funded emergency fund, but for the past six years, money market mutual fund rates have been a bit LOWER than rates with FDIC-insured banks or NCUA-insured credit unions. In 2008-2009 a few money funds "broke the buck" such as the Russell MMF, Schwab's YieldPlus MMF, and all of The Reserve's various MMFs. I would not necessarily be paranoid about MMFs but if the interest yields on MMFs are lower than insured bank deposits, then what's the point?

So in sum, while I do think Ramsey's Financial Peace University is a very good teaching curriculum for those who want to learn better basic money-management and debt-elimination skills, I have some misgivings about parts of his course. As for "beginning personal finance" books and media, the books by Eric Tyson (including his "Dummies" series books) are excellent, and I'd give high marks to Clark Howard. Suze Orman's programs are pretty good although I prefer Tyson and Howard. Certainly, I enjoy watching Suze's "Can I Afford It" segments.
The reason why Ramsey advocates MM for the emergency fund is that he does not believe in bonds as he likely doesn't want to clash with his ELPS. :D

I attended the first session of FPU - really large class - some of my buddies were there. As I mentioned one of the reasons I'm attending is because I thought I might learn something from the class participants. One hiking friend was trying to sell me on the benefits of Quicken. I told him that for budgeting, I thought that YNAB was better. As he is a real techie, maybe he'll work out a better Excel solution for the class.

What is the deal with getting rid of credit cards? Is the class encouraged to get rid of them?


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Re: Dave Ramsey: The Legacy Journey

Post by Crimsontide »

What is the deal with getting rid of credit cards? Is the class encouraged to get rid of them?

Lynette
I guess you really did just skim those books you bought for your Kindle :happy
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Re: Dave Ramsey: The Legacy Journey

Post by technovelist »

I recently got a Marriott credit card that came with 70,000 Marriott points. I have cashed them in for 9 nights at a hotel whose normal rates are about $100/night. You do the math. :moneybag :moneybag :moneybag
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Re: Dave Ramsey: The Legacy Journey

Post by Lynette »

Crimsontide wrote:
What is the deal with getting rid of credit cards? Is the class encouraged to get rid of them?

Lynette
I guess you really did just skim those books you bought for your Kindle :happy

:D :D I thought that someone posted that they did not attend Ramsey's course as they were concerned about being pressurized to destroy their credit cards. I was wondering if destroying credit cards was part of the class. Maybe a small group had a type of confessional in which each person admitted their sin of having x number of credit cards. Then as a matter of atonement, they borrowed the scissors and cut up the credit cards. :D :D .. or something like that. I wondered whether the cutting of cards was part of the class. I'm NOT giving up mine!!!
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Re: Dave Ramsey: The Legacy Journey

Post by Seattlenative »

Lynette wrote:I thought that someone posted that they did not attend Ramsey's course as they were concerned about being pressurized to destroy their credit cards. I was wondering if destroying credit cards was part of the class. Maybe a small group had a type of confessional in which each person admitted their sin of having x number of credit cards. Then as a matter of atonement, they borrowed the scissors and cut up the credit cards. :D :D .. or something like that. I wondered whether the cutting of cards was part of the class. I'm NOT giving up mine!!!
Yes. Ramsey encourages participants to cancel all credit cards. Each week of the FPU course, the facilitators conduct a "card cutting ceremony". Attendees are invited to come forward and use scissors to cut up their credit cards in front of the class. However, "confessing the sin" of continuing to use credit cards is NOT required.

Ramsey even has an FPU segment discussing what happens when debts are paid in full, all credit cards are closed, and and (unless you still have mortgage payments) you end up with a ZERO CREDIT SCORE. Ramsey's notion that it's okay to have a zero credit score is completely unrealistic. See more of his views at this link:

http://www.daveramsey.com/article/the-t ... editcards/

I DO endorse Ramsey's idea that you should regularly use U.S. currency and coin for routine daily purchases, instead of constantly using debit and credit cards. He's right that using plastic never, ever has the same psychological pain as counting out your hard-earned currency to pay a bill, "giving up those Benjamins" as he says. When paying in the form currency, most people will think twice before buying something they don't really need. This psychological phenomenon but it's been the subject of exhaustive research by VISA, MasterCard, American Express and Discover.
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Re: Dave Ramsey: The Legacy Journey

Post by Lynette »

Maybe Ramsey is correct on the behavioral science of credit cards but I'm not giving mine up. U find YNAB to be a good check on my purchase of electronic toys.

I was listening to Ramsey's CD's on my way home from work. I think he verges on being somewhat patronizing to women and singles. I HATE shopping and certainly don't waste time on hunting for bargains as he suggest women do. As I grew up in a somewhat male-dominated society in South Africa (30 years behind the US), I tend to be somewhat irritated by male/female comparisons. I'm nearly 71 so grew up in the "old days". I was the only woman in my MBA class, etc.etc.
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Re: Dave Ramsey: The Legacy Journey

Post by Lynette »

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Re: Dave Ramsey: The Legacy Journey

Post by an_asker »

Seattlenative wrote:
Lynette wrote:I thought that someone posted that they did not attend Ramsey's course as they were concerned about being pressurized to destroy their credit cards. I was wondering if destroying credit cards was part of the class. Maybe a small group had a type of confessional in which each person admitted their sin of having x number of credit cards. Then as a matter of atonement, they borrowed the scissors and cut up the credit cards. :D :D .. or something like that. I wondered whether the cutting of cards was part of the class. I'm NOT giving up mine!!!
Yes. Ramsey encourages participants to cancel all credit cards. Each week of the FPU course, the facilitators conduct a "card cutting ceremony". Attendees are invited to come forward and use scissors to cut up their credit cards in front of the class. However, "confessing the sin" of continuing to use credit cards is NOT required.

Ramsey even has an FPU segment discussing what happens when debts are paid in full, all credit cards are closed, and and (unless you still have mortgage payments) you end up with a ZERO CREDIT SCORE. Ramsey's notion that it's okay to have a zero credit score is completely unrealistic. See more of his views at this link:

http://www.daveramsey.com/article/the-t ... editcards/

I DO endorse Ramsey's idea that you should regularly use U.S. currency and coin for routine daily purchases, instead of constantly using debit and credit cards. He's right that using plastic never, ever has the same psychological pain as counting out your hard-earned currency to pay a bill, "giving up those Benjamins" as he says. When paying in the form currency, most people will think twice before buying something they don't really need. This psychological phenomenon but it's been the subject of exhaustive research by VISA, MasterCard, American Express and Discover.
I take scissors to my credit cards as well ... after I get the replacement ones ;-)
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Re: Dave Ramsey: The Legacy Journey

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Re: Dave Ramsey: The Legacy Journey

Post by fourwedge »

I'm a big believer in Daves baby steps. My wife and I just paid off our home mortgage in 19 months (120k) baby step 6 of 7. All while maxing out all retirement accts, Roth ira's and a 401k both years. People knock his advice but getting on a strict budget and paying off all our debt has given us 5k above expenses, to do with as we please each month. Talk about setting ourselves up to win.

I no longer do active investment now I am (mostly VG index funds) and I do hold a bond allocation. so as far as his investment advice I don't follow it to a t, but before I heard of dave Ramsey I didn't buy mutual funds at all... But rather individual stock. He has really changed my life along with the help of this forum.

Thanks Dave Ramsey
And thank you Jack Bogle.

... The two men who most influenced my life for the better!
Max out your tax sheltered retirement accounts with inexpensive, well diversified, index funds and you will beat 90% of all investors.
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Re: Dave Ramsey: The Legacy Journey

Post by gvsucavie03 »

My wife and I went to a Total Money Makeover Live event a year ago and, yes, it's a big commercial mixed with some content. All the same stuff he's preached for decades. My wife and I got in the car and looked at her and she said "so tell me what you really thought" and I replied "I'm disappointed."

He's the Amazon of personal finance - all the money he makes is in advertising and only somewhat in the sale of actual merchandise.
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Re: Dave Ramsey: The Legacy Journey

Post by mhalley »

Unfortunately most of the commments here are regarding Daves fpu, where the legacy journey is what to do to leave a legacy after you have done all of his baby steps, ie, completely debt free incLuding house, saving 15% or more toward retirement, children education payed for, etc.
https://www.daveramsey.com/legacy/class-previews/
Anyone have any reviews of the actual legacy program?
I am with most bogleheads and agree that Daves investing advice leaves much to be desired, and that debt can be beneficial when used properly. It is just that most people don't use it prudently.
Mike
gvsucavie03
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Re: Dave Ramsey: The Legacy Journey

Post by gvsucavie03 »

mhalley wrote:Unfortunately most of the commments here are regarding Daves fpu, where the legacy journey is what to do to leave a legacy after you have done all of his baby steps, ie, completely debt free incLuding house, saving 15% or more toward retirement, children education payed for, etc.
https://www.daveramsey.com/legacy/class-previews/
Anyone have any reviews of the actual legacy program?
I am with most bogleheads and agree that Daves investing advice leaves much to be desired, and that debt can be beneficial when used properly. It is just that most people don't use it prudently.
Mike
He said point-blank on the air that his Legacy Journey book (and I'll assume the course, too) is almost entirely "biblically based." He coins it all the time being the "proper way to view wealth from a biblical stand-point."

If the legacy involves investment strategies, I'd be very cautious.
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zaboomafoozarg
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Re: Dave Ramsey: The Legacy Journey

Post by zaboomafoozarg »

The guy makes a killing selling common sense and basic financial math.
Lynette
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Re: Dave Ramsey: The Legacy Journey

Post by Lynette »

deleted - not relevant. :D
Last edited by Lynette on Wed Sep 24, 2014 7:34 pm, edited 1 time in total.
riboflav
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Re: Dave Ramsey: The Legacy Journey

Post by riboflav »

zaboomafoozarg wrote:The guy makes a killing selling common sense and basic financial math.
Yes, but that is not why he makes money. He makes because of his accent, his folksy manner of speech, and his touting (or questionable interpretations) of Biblical principles. It's the delivery, not the message.

I would presume of a lot of people who feel they're drowning both financially and spiritually (sometimes they're intertwined, no?) are drawn to his personality and style.
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