willthrill81 wrote: ↑
Mon Sep 02, 2019 9:34 am
When it comes to his advice regarding consumer debt, I agree that it's spot on for many, perhaps most, people. It's good to hear that this is most of what he doles out these days.
His investment advice entails an odd mix of 'aggressive growth, growth, etc.' funds, which isn't necessarily terrible, but he recommends that listeners go through his ELPs (who pay him to gain that status) and buy loaded mutual funds.
He's stated that 8% withdrawals in retirement are safe.
Okay, now I'm up to speed with your thoughts.
Yes, the continuous commercials for ELP's, insurance, tax accountants, real estate agents, window blinds, Dollar Rental Car, books, podcasts, etc... all seem to be part of his "package". At least when it comes to retirement plans that are under everyone's employer plan via a 401k/403b/457b account - in terms of the portions of his shows I have caught to and from work in my commute - he just says pick low cost mutual funds (routinely mentions an S&P 500 index fund, and an international fund if they are available within the plan).
Yes, I agree on the latter about withdrawals in retirement being advice that is circumspect. I believe I did hear him quote higher returns several times than what we all would say is advisable on the BH forums during the accumulation phase, and a higher withdrawal rate (don't hold me to it, but I think I actually heard him tout a 10% withdrawal rate a time or two to a pair of callers when he was making an analogy or two) which we all know is rather optimistic and wise to avoid. The good news is, his sidekick Chris Hogan is the retirement specialist who Dave defers to these days, and Chris sticks to the 4% withdrawal rate rule. Most likely, over the years due to criticism, Dave has brought on other personalities who specialize in the things that he does not to round out the content and advice for his minions. Typical Hogan is here:
Ramsey himself seems to be great at real estate, living on less than you make, and debt which he knows are his specialities when it comes to giving advice. Mastering those topics when it comes to giving advice is what appears to be his value in terms of what he brings to the table, so I won't fault him on those subjects. He has provided some nice rants on consumerism, student loan debt, the "middle class", and political thoughts over the past few months on the shows that I tuned in to the radio from time to time that range from solid opinion to so embarrassing I quickly change the channel to hear some nice music.
I'm not apologetic for him, just providing feedback on the short 30 minute sessions I have heard him on the radio in the past few months driving to and from one of my jobs. Probably the only thing intriguing to me about him at this point is that my father (RIP), who was a minister and son of a banker, specialized in running a balanced budget for every church where he preached throughout his career, had a lot of similar fiscal views in terms of religion, debt, and giving. So it's a familiar old sermon I've heard many times before since being knee-high to a grasshopper. In other words, nothing too new in a message I've heard for decades outside of a different voice speaking it. One certainly needs to toss out the bad part(s) of the advice and accept the good part(s), no matter who the messenger is.