Comments on: Is Dave Ramsey A “Financial Expert”

By: Lucas

Lucas — Tue, 09 Mar 2010 05:19:09 +0000

I wouldn’t call him a financial expert in any sense. Motivational yes. Good at developing budgets yes. However my biggest beef with him is like most who proport to be financial experts on tv and radio. He’s not licensed. If he was he couldn’t make the claims he makes. He’s actually held to a much lower standard because he’s not licensed. He can make general reccomendations for huge swaths of people (or every single person) without any consideration for suitability. That’s grounds for license revocation and being banned from the industry except he’s not licensed so he can’t be held in compliance to any state or federal securities or insurance law. What he is good at is selling books. And for that I congratulate him.

By: Rick

Rick — Sun, 31 Jan 2010 13:53:41 +0000

I never once heard that he was an “Expert”, but building up a multimillion dollar company with over 200 employees is pretty good for someone you would not call creditable. I have close friends who are experts and professionals in their field and only through the school of hard knocks.
Radio talk show host is his expertise. Which he states in the Understanding Insurance DVD of FPU, as far as investing goes I have applied his method and am doing quite well, then again I started right after the big crash in 2008, but he also states to you seek a personal certified financial planner as well with the heart a teacher. Take it for what it’s worth dish out the junk and do your best.

By: chad

chad — Sun, 15 Nov 2009 23:40:53 +0000

Dave Ramsey is a joke! If he is going to call himself an “expert” than he needs to be knowledgable on all financial topics that he discusses. I respect “experts” if, when they don’t know the answer to a question….they say, “I am sorry I don’t know for sure, but I will find out and get you the correct answer shortly.” However, Ramsey thinks he knows it all and just makes up some crap if he doesn’t know. Also, I am sorry to all those people who listen to every word Ramsey says (invest all your money in growth stocks). I am sure that everyone was extremely happy to see their investment account down 40-50% last year! The everyday investor doesn’t understand volatility and risk/reward. He makes his listeners think they will return 12% every year….Freaking JOKE! I hope he is saving his money because he will get sued big-time some day soon.

By: Bankers Exchange Services

Bankers Exchange Services — Mon, 21 Sep 2009 15:58:09 +0000

1031 Exchange – August 2009…

Welcome to the August 12, 2009 edition of 1031 exchange.

KCLau presents Why Robert T. Kiyosaki is a best-selling author? posted at KCLau’s Money Tips, saying, “Robert T. Kiyosaki is the best personal finance author I follow. I started …

By: Personal Finance News Carnival Volume 6 | Peak Personal Finance

Personal Finance News Carnival Volume 6 | Peak Personal Finance — Thu, 13 Aug 2009 19:09:24 +0000

[...] Pillars presents Is Dave Ramsey A “Financial Expert” posted at Quest For Four Pillars, saying, “A discussion of Dave Ramsey and his [...]

By: Mike

Mike — Wed, 05 Aug 2009 00:51:11 +0000

Gwerst – I’m afraid you are wrong about that:

From Dave’s website: http://www.daveramsey.com/etc/cms/index.cfm?intContentID=6795

Q: Do ELPs pay a fee?

A: Yes. For ELPs, the program is a form of local advertising. It’s a way for them to attract clients who love The Dave Ramsey Show just like they do. We use the fees to fund the large staff and technology required to operate the ELP program.

By: gwerst

gwerst — Tue, 04 Aug 2009 23:05:45 +0000

I think you may be wrong about him getting a fee for his endorsed local providers. At the very least he has stated on his show that he gets no renumeration for sending people to his ELPs. As I understand it his ELPs are just financial professionals who have agreed to (and been trained in) some core values that Dave preaches.

By: JoeTaxpayer

JoeTaxpayer — Mon, 06 Jul 2009 15:16:52 +0000

My post today (click on my name to go right to it) was inspired by this Four Pillars article and two others. Dave’s advice regarding Low Balance vs High Rate, has a cost, which can be calculated, easily. Of course, it depends on a number of factors, total debt, as well as how it’s spread out, i.e. size of balance/rate for each debt. I don’t dismiss Dave as quickly as he dismisses any advice that not his. In finance, there are few absolutes. But when someone says “always” or “never,” I’m careful to look at their advice very carefully.

By: Thinking about Dave Ramsey » JoeTaxpayer

Thinking about Dave Ramsey » JoeTaxpayer — Mon, 06 Jul 2009 12:04:51 +0000

[...] I read Four Pillars Is Dave Ramsey a “Financial Expert” and this prompted me to start polishing a spreadsheet and newer article I’d been [...]

By: Bankers Exchange Services

Bankers Exchange Services — Thu, 02 Jul 2009 15:25:14 +0000

1031 Exchange – July 1, 2009…

Welcome to the July 1, 2009 edition of 1031 exchange.

KCLau presents Why Robert T. Kiyosaki is a best-selling author? posted at KCLau’s Money Tips, saying, “Robert T. Kiyosaki is the best personal finance author I follow. I started rea…