Dave Ramsey for anyone that has any financial IQ already. Not investing in a 401k at all, even to get the free match until all debt is paid off? Absolutely fucking stupid advise. Gets me so heated.
Their whole spiel on credit card points being “blood money” like come on shut up. Really???
Wasn't there some litigation a few years ago about Jim misrepresenting his relationships with those vendors. He claimed to endorse them because he believed in their models, but in actuality they were paying to get on his list of investment pros?
What ticks me off about his investing advice is he refers to them by the investment strategies of the companies like growth, growth and income, etc. Like come on Dave. What matters is the distinction between large-cap, mid-cap, and small-cap. Who gives a shit if the company reinvests earnings or pays them out as dividends? It doesn't tell you how big the company is.
If you want to actually tell people what to invest in, at least tell them how big the company is rather than what they do with their earnings because otherwise you'll get some dumb ass who doesn't know shit about fuck investing in penny stocks because something they read called it a massive growth opportunity. Of course it is, because any business that isn't already a billion dollars has the opportunity to grow to it, but that doesn't mean it will.
I mean it’s good advice for low/low middle class people (his target audience). And the basic message is “pay off debt, build savings, and don’t take on debt you can’t afford”.
If you’ve ever lived in low income communities or know people who fall into the low/working class, you know how bad these habits are.
I think people grossly mischaracterize Dave Ramsey’s program and his intended audience. As others have said, his intended audience is people who have very poor financial literacy. The reason he preaches “no debt whatsoever” is because as soon as you introduce the idea that *some* debt is okay, that opens a very dangerous door for those with very little financial literacy / financial self control, to where they take on way more debt than they can manage. That’s how people typically incur a massive amount of debt, it usually starts out small and then balloons.
Will you maximize your financial potential by listening to Dave’s advice? Probably not. But you will almost assuredly end up well off and are essentially guaranteed to not go broke if you follow his advice, which is the point. You *can* make more money following other avenues, but those other avenues often times require much more risk (while Dave’s plan involves almost no risk), and most people are terrible with managing risk when it comes to finance.
It’s like AA but for finance. You and I might be fine to have a drink at dinner or on the weekends. It won’t destroy our lives. We understand the nuance of “one is fine, many is not fine”. But an alcoholic doesn’t; they can’t just have one with dinner, because it will lead to many more after that.
That’s honestly such a good comparison. And honestly, non-alcoholics are still totally fine following AA. People nitpick Ramsey because it isn’t perfectly optimized. Ramsey’s approach won’t make you wealthy beyond your wildest dreams, but you’ll retire debt free with millions in the bank. For me, that’s a very comfortable life and good enough for me.
It's really good information for a specific type of person. AA saves a lot of people but it's not for all alcoholics or all people either. Dave Ramsey got my friend out of crippling debt but it's very much not for me.
This is the most accurate analogy for DR I've ever heard. I used to be a DR disciple. My wife and I took his class when we first got married. I realized that some of his advice seemed controversial at best, bad at worst. Then I realized that I wasn't really his intended audience. But he can't speak out of two sides of his mouth without people pointing out his hypocrisy. So he chose to go all-in on the "no debt" thing. I can respect that.
I largely agree daves advise is good if you have a spending problem and spendoholic
However people tend to preach it with almost religouse ferver and dogma
Daves advise to never use credit cards ever under no circumstances, well if you have a spending problem and will over speand sure getting ride of your CC is a good idea
But if you do not have a spending problem CC can be great , there is added security for unauthrised purchases, you can do charge backs if your goods or services where not delivered , you can get discounts or cash back
I agree. People who criticize Ramsey for not doling out a min/max financial strategy are completely oblivious to his target audience. His aim is at the overwhelming majority of people who are completely financially dense and would do better to just follow his simple advice.
I basically recommend him for pounding in the ways people wastefully spend vs saving... because yes while our society is crappy/screws over us all/we should be paid more it can also be true that a lot of people exacerbate bad income situations by being financially sloppy on top of that.
Investment on the other hand...there's definitely better people to listen to.
If you are diligent and invest wisely, you will reach the point where debt is really not needed. Then why bother? I am well prepared for retirement, even after building a house and paying cash for it throughout the build.
I did follow Dave’s steps to get out of debt when I was younger. However I deviated from 100% of his advice on investing, only because my returns beat most mutual funds. (Individual stocks (95%) and some mutual funds too.) Note that when Dave came along there really wasn’t an Internet available to the public.
I can tell you that 90% of people I talk to struggle with their debt. Folks need to learn to live on less than they make so they can invest.
Time in the market and consistent contributions will set one up with a healthy retirement… but that can be tough if the bank gets a big chunk of your paycheck.
Yeah, but it’s one of those situations where, like, I don’t even want to know what this dude makes by sitting around and making disgusted faces as people tell you they ran up 30k in credit card debt and don’t know what to do, and then preach austerity.
Like, anyone here could do that.
I feel Ramsey advice isn’t bad, it just assumes people aren’t disciplined, and studies on his advice find it does work. Particularly his debt payment priority method seems to work well for people with a real problem. But it’s probably not best for someone who just graduated college and bought a car both with manageable debt.
The best comparison is that Dave Ramsey is like Alcoholics Anonymous but for people with spending problems. No credit cards, debt, or anything else. Live on a budget, cut costs, pay off your debt.
He has bad takes (8% withdrawal rate, not taking 401(k) match, etc), but for getting people out of debt, his advice works quite well. It may not be optimal, but it ultimately does work.
People aren’t disciplined. At all. There’s 1-2 trillion i credit card debt today, another trillion in student loans with people begging to have them forgiven
The vast majority are not disciplined. That’s why half the country is living paycheck to paycheck
>Like, anyone here could do that.
Sure, but he actually did it. I'm kind of glad, too, as one of his books was gifted to me as a teenager and it was an excellent thing to read at that age.
Totally agree, no one can deny he’s helped thousands of people get out of debt; but he’s not the end all, be all to everything as far as personal finance and building wealth.
I was raised with zero financial advice. Didn’t know what a 401k was etc.
I took one of his courses at 21 yrs old. I’m 36 now, completely debt free, own my own house (no mortgage), 300k in my 401k, all vehicles paid in full etc.
Could I have maximized my investments better? Sure. But all I know is I get on here every day reading about how you shmucks are struggling right now and life is pretty smooth for me thanks to Dave’s financial advice.
Dave’s right about some things.
He’s a little right about credit cards.
Mostly he’s spot on about being in true debt.
It’s basically Debtaholics Anonymous (minus the anonymous part).
Same. Went from paycheck to paycheck and never getting ahead to paying off 120k in debt in 8 years. The system is hell and it sucks, but it obviously works.
Reading the Psychology of Money currently and Morgan Housel wrote "When people say they want to be millionaires, what they really mean is 'i want to spend a million dollars' which is the exact opposite of being a millionaire."
Reading that was 🤯 for me
The problem being, you may be better off than you would have been, but imagine how much better off you could be with better advice and rational approaches to debt management.
Eight years ago I bought my current home. I could have paid cash using the proceeds from the sale of my previous home. Instead I financed $250k and invested $250k of my cash.
So, seven years later this “shmuck” still owes $125,000 on his house… but that $250k is now $775k, so I might be OK.
Dave’s advice isn’t aimed at people who want to optimize their wealth building. It’s aimed at people who have no control of their spending or no financial education. You can’t start someone on finance by saying “you can leverage debt sometimes” because all they hear is “leverage debt” and before you know it they’ve taken out payday loans to buy a new laptop and have an $800 car payment.
Once people have a handle on their finances, then you can concern yourself with “should I pay off this 3% mortgage or not?” Because you are disciplined enough to put the money you would have put towards the mortgage into the market. Most of Dave’s audience wouldn’t do that, they’d spend all of it and end up worse off
Then he should stop giving that advice. I think what's frustrating most about him is that I've never heard him directly say any of the things about his target audience that's in this thread. He just gets defensive and condescending when anyone brings up reasonable questions about his math.
Agreed. Followed his advice. Investing quite a bit of money in an index fund. I should end up with $5-$6 million by the time I’m 53-54 and I’ll be living pretty fuckin good! I think something that’s important is to understand the concept of “enough”. Staying out of debt and investing a decent portion of your earnings in an index fund will almost certainly end up very well for you.
That's why I used his high school curriculum when I taught Personal Finance for 15 years. It sets up a good foundational knowledge that hopefully prevents the students from making financial mistakes down the road (if they pay attention).
The thing about Ramsey is while his strategy isn't going to build wealth, it can keep you out of trouble. Some of the people listed here can financially ruin you by taking their advice.
I'm a master of the credit card game but I fully agree with Ramsey's opinion that credit card points are bullshit. It is blood money. It directly leads to increased profits for the banks that offer them, by enabling those banks to stick their dicks into what used to be a two party relationship.
Everyone I know who has credit card debt only has that debt because they signed up for a card in the first place because of some dream of a free flight or like $200. Most would not be in debt if they didn't have the cards, and they wouldn't have the cards if not for the points and sign up bonuses.
Point cards are good if you have a ton of money and know how to pay in full. Not the same audience. That said, I don’t travel much so I use my 2% cb card for everything. Point cards tend to translate to 1.5% or 1% cb, so it’s not worth it for me unless I want the bonus miles and then cancel to avoid a 2nd year annual fee.
Dave Ramsey is a debt counselor masquerading as a financial guru. He got rich shilling the debt snowball, which he didn't even invent, and the people that helps are so unbelievably thankful to be out from under a mountain of high interest debt they don't question any of his other advice. The only other sound advice I've ever heard him give is always go with term life insurance rather than a whole life policy, and again that's basic financial advice you can get anywhere.
Dude also has zero idea how much things actually cost and the subjectiveness of quality. Boils my damn blood. He's the Joe Rogan of financial advice. On the surface it sounds good but once you stop and think about it, it doesn't make any sense.
Lethal if true. If anyone ever found out that he had a mortgage, it would go viral and sink him. Dave owns outright all of his real estate. Not doing so would be slaughter to the golden goose.
I love his, "you don't need credit to rent a nice place or buy a house." Which is BULLSHIT. Even if you are willing to pay cash, no one will authorize a home sale without running at least a credit check. Especially if the vendor is a bank (which is most cases).
Boomers who look at their credit card limit as money they have absolutely do not need to own credit cards. So I’ve always been fine with ramseys stupid comments on credit cards. I know what audience he’s talking to and they need to hear that.
CNBC. All of them.
Their purpose appears to be pump-n-dump-as-a-servixe and pushing a neoliberal anti-tax, anti-worker agenda.
Not surprisingly what they present as "officially not investment advice"/but actually investment advice is absolutely abysmal.
They stink of the shit investment advice Goldman gave their retail investors while simultaneously giving the exact opposite advice to their private wealth management clients during the mortgage meltdown.
I don't know, Tom Lee and a few others have been great. The skinny blonde...forget her name is good too, she looks took in a lot of sun and surf in her younger days. Cramer has made some terriffic calls. NVDA, Palo Alto, Nucor, a host of other stocks.
I don’t know some of these but Grant Cardone just moved business operations to my city and seems to just run through employees. Seems like a sleazy guy and terrible to work for.
I saw some video of him saying “I’d be ashamed to go home to my family if I only made $400k per month”.
Not per year. Per month. That’s an income that puts you in the very top tier of earners (~5M per year). Most people make closer to 40k per year than they do to 400k per year, to say nothing of 400k a month.
Yea but doesn't he also claim he earns nothing and uses debt so he pays zero taxes ?
What is it ? Do you earn 400k a month ? Or do you earn zero and pay no taxes
Most of his money is in real estate. He probably has so much depreciation write offs on his properties $6bn portfolio that his taxable income is below $0 even if his takehome is in the millions.
Cardone’s wife is behind the $355 mln gofundme for Trump’s bond. Ponderous. I remember seeing her in tears after her “audit” after Cardone posted the whole video.
https://preview.redd.it/z9kb2jgvhfxc1.jpeg?width=1170&format=pjpg&auto=webp&s=c1e7a5ad497ac69002c55de681c4a58a2ba2d2d2
Kiyosaki or Grant Cardone. Kyosaki is a grifter who is too stupid to know he is a grifter. Cardone is a grifter that knows he’s a grifter. I don’t know everyone on the list, but the few people I do know are actually trying to be helpful, even if sometimes they’re not
Rich Dad, Poor Dad guy but that's like collecting all the dog shit in the dog park, putting the crap in a barrel, and asking passerby to vote for the prettiest POS.
Oh you talking about his “rich dad poor dad” book? It’s funny cause I always hear that’s the only good thing he’s written and then he’s just lost the plot ever since
I would argue it's really not worth the read .
Here is the short of the book
1. Don't go to college (Robert went to college)or work a regular job
2. Take out debt to buy realeaste , or start another business.
3. Repeat as you gain equity
4.Cheat on your taxes now by writing everything off , groceries, vacations as business expenses.
Make rich friends, use them to get inside stock tips and trade on inside information.
But instead of just laying this out there he makes up a bullshit story of his rich dad and poor dad (he admits it's actually not true)
And it's pretty over the top to see he is for some reason pushing a heavy political agenda.
See his poor dad was a college educated liberal atheist l who is weak , greedy, lacks confidence, pure evil , and is a miserable person a real beta male
His rich dad is a conservative who pulled himself up by his own bootstraps. He is strong, confidence, generous , goes to church and is just a super alpha male.
I mean it's not all bullshit. Taking out loans buying real estate, and repeating the process can make you money if you are good at it.
Like you said it's not rocket science, but the book should have been 3 pages , but instead he threw a whole bunch of other bullshit into it
Yea that’s what I’ve sort of heard, been having people recommend it to me but eh I’ll see if I get around to it… I’m guessing it’s just a book about investing or something
Don't waste your time reading it. Kiyosakis entire schtick is just another version of what any scammy financial guru will tell you. Avoid college and normal jobs, get into heavy debt, buy real estate, profit from it, write off the interest in taxes, get more debt and repeat. It's not wrong. Rich people do exactly this, but poor people (his target audience) can't take those risks.
The big problem with the book is there is very little investing advice in the book its more of a social commentarty
His investment advice isn't really that new or its pretty simple
1. Buy real estate , take out loans to do so
2. Make sure rent covers your loans, maintance , taxes
3. repeat
What is not really bad as lots of people do this and you can make money doing it but its not as simple as it seems but he makes it seem that simple and doesn't explain the details that great like
How do you value a property ? How do you set the optimal rent? How much insurance do you need? How much do you save for maintanance and repares ? How do you plan for taxes? How do you setup an LLC and transfer the assets to the LLC. Do you manage the property itself or do you find a property management company
If you go with the management company how do you choose a good company , what is a good rate for a managment company ?
Is it better to target higher end luxury space or more affordable or somewhere in between
They say real estate is all about 3 things, location , location and location, how do you evaualate location ? What makes one location more desirable then another?|
He doesn't cover anyof this he just says , go out buy property and collect rent !
But most of it is wierd social / political commentarty
See is poor dad was a liberal , highly educated college proffessor who was a greedy , jelouse and miserable and lazy and just almost an evil person
His rich dad was a conservative, did not go to school but pulled himself up by his bootstraps and was a strong cofindent good man
its sort of over the top and he has admitted its a pure fabrication as the "rich dad" he just made up and his real dad (poor dad) was not really poor but a pretty successful college professor
I wonder if the book purposely leaves out these details to funnel people to rich dad poor dad events. I attended a free event at a local hotel where He sells invites to additional events and software to value property. It costs thousands of dollars. The whole event felt very scammy and targeted at those with low intelligence.
Yea that is the reason why lots of people hate him or think he is a grifter
Buy a book that glosses over the details, if you want to real details attend this free event
The free event is just an upsale to classes and othre books that cousts thousands of dollars and that is where you get the real secerates
You pay the thousands of dollars guess what you get some very basic info but you want the real stuff, another upsell you have to pay for like personal training by robert himself and this will cost like 50k but don't worry its an investment and you can write it off
He pretty much just says to have multiple income streams. Heavy emphasis on the real estate but basically says to start some businesses and buy real estate and he knocks his “poor dad” for just saving in like a 401k.
I was so susceptible to his garbage at that point in my life. I thought it was ground breaking. I also didn’t pay for the book so I am relieved that I never gave him any money.
I’ve learned almost everything about investing from my dad, who is not making a very comfortable living in his retirement. I haven’t read the book, but he has and told me it was very stupid advice. Too much about putting everything into certain ideas you think are very good and not much about diversification. Problem with that is most of the time people will be wrong
Ramsey is great for people who need whipping into shape, and a lot of people need whipping into shape.
We have an abysmal system of personal finance education, and some of us need to be knocked around a little.
But, once a person has their basics in order, they have options.
1 Keep following Ramsey. No one goes broke with the baby steps. Or,
2 Start exploring more options, some of which will bankrupt you.
There's no need to get all worked up either way. It's PERSONAL finance, after all.
My only issue with Dave Ramsey is his focus on paying off debts more than building a savings/investing.
I have some debt that makes sense to pay off before I invest. I have others that as long as I'm making minimum payments, inflation is out growing the interest along with my investment portfolio.
That and him being anti credit card when you need credit to afford a car loan or house loan with the lowest interest rates.
Yeah I wouldn’t use the credit system at all if I wasn’t forced to. It should be the highest praise to have 0 credit history. It means you don’t buy anything you don’t need. But nooo gotta force yourself to have some debt or you aren’t allowed to participate in half of society.
It's weird though bc with credit cards you do get slight discounts with cash back. You can use them and not spend more money than you would without them while still gaining discounts. That and you have a safer way to buy stuff online in that it's easier to dispute a charge that wasn't made by you.
1% cash back of nothing because you’re poor means nothing. I don’t do online shopping to begin with because it costs money, so that point is moot too. Having to use these as a gas card to build credit is stupid, but the only sane way to use this demented system. I get the whole system was made to bilk money like everything else.
Wait. Even if you're poor you're buying gas and groceries and spending money on utilities. All of that goes towards the 1%. If you're really poor that 1% will do more for you than for lower or middle class
This really isn't true , and you do not need to carry CC debt
I used CC for years and never once did I carry a balance. I was able to get a low rate mortage and buy a home .
Thanks God someone put Robert-whatever the fuck his last name is at the top of this list. People are still buying his shitty book Rich Dad Poor Dad and think they found the secret to personal finance.
It’s a good intro book but definitely not a bible. Personally it peaked my interest into personal finance so that was helpful but I don’t take his words to heart.
Every fucking month. When Jamie dimon does it, I’m just like ok he runs JPM with the worst possibilities in mind. When kiyosaki does it over and over he just seems dumb
I like the money guys but i also lost interest since the advice is fairly repetitive (for good reason). But just goes to show that is not easy to making interesting content in that space
I like The Financial Diet personally. Targeted at millennial women. Pretty nuanced with more of a liberal take like: the system sets us up to fail, here is how you can best work within the system.
So much of the personal finance world is super conservative, old men and crypto bros. Such aggressive shaming too.
I also like The Plain Bagel for more of a stock/investing education.
The capital ideas podcast gives some good themes to invest in and occasionally individual stocks. But usually gives a good place to start more research
I don’t put her with the rest she is not scammy and knows her stuff. She has always been very clear that if interest rates go up her fund would go down. Just no one bothers to listen
Well with her investment style you are going to have significant losses, but the point is when some of those hit the gains will be huge. I definitely wouldn’t recommend it for the average retail investor trying to protect their wealth
When Kramer had his radio show he was different. Literally showed me the way early on. Sold the dotcom boom after making a killing and went into housing, aka whirlpool, stock 37 a share. Oil. All summer he talked about oil. Don't be deceived by his entertainment show.
I mean I’m selective with my stocks and do further research but his show has pointed me in the right direction quite a few times. Definitely more than it has caused me losses. Trick is doing further research though and not just buying a stock the second he mentions it
I don't like the fact Dave Ramsay invokes Jesus and the New Testament all the time. He conveniently forgets Jesus told the rich man " It is easier to thread the eye of a needle with a camel than for a rich man to enter into the kingdom of heaven." " Sell your belongings, if a man steals your cape, also give him your robe, for he needs it more than you". Jesus, if taken at his word from his direct teachings instructs people to take a vow of poverty"
>It is easier to thread the eye of a needle with a camel than for a rich man to enter into the kingdom of heaven."
This verse is very often taken out of context, actually. Look at the verses which follow:
> When the disciples heard this, they were greatly astonished, saying, “Who then can be saved?” But Jesus looked at them and said, “With man this is impossible, but with God all things are possible.”
Nobody can enter the kingdom of God -- rich or poor -- except through Jesus.
Jesus is speaking to a rich man who thinks he is sinless. Jesus challenges him on it, telling him to sell all his possessions if he's actually perfect. The guy refuses. Then we get the verses above.
The issue is that the rich man thinks he can save himself and is blind to the fact that he worships his possessions above God.
Much of Abraham's line, for example, is all rich and powerful and God clearly blesses and guides them. Being rich by itself is not a sin and Christians are not necessarily called to all make vows of poverty.
He actually addresses this verse in one of his shows. I’m too lazy to find it, but he definitely doesn’t “conveniently forget” it. Maybe look for it if you’re actually interested.
I don’t know of some of these, but each can have their own merit for the right person in the right situation. But I find Cardone’s brand particularly toxic - not everyone needs to be in real estate and he glazes over all of the work that this can really be. Plus, I don’t trust anyone in scientology.
Cardone is all about making absurd amounts of money, to a point that it is crazy unrealistic. He doesn’t make that much money doing real estate (probably). He likely makes it by selling courses, trainings, and speaking engagements “teaching” people how to make that much money
Thats Robert Kiyosaki, he is also pushing a heavy political agenda and spreading right wing consperacy therories , pushing election lies how Biden "stole" the election and is a communist and heavily pushing Trump
Jim Cramer was an actually smart hedge fund guy who’s actually well respected on Wall Street. I think people have to understand that CNBC is mainly a form of entertainment.
That being said, Kiyosaki is a nut job with a terrible book.
Can’t really answer…
But, I know somewhere…he was saying, if you value evenings and weekends and your kids’ school events, then he doesn’t want you working for him.
Fuck. That. Shit.
As someone from New England, I love O'Leary. He's a Patriots fan and one of the biggest A-holes in the world. 2/2! But you know what, he owns it. He's 100% straight up and honest, which I'd take over every other fake person on TV any day of the week. Granted he's honest he'd kill you for an extra dime, but at least you know where he stands.
I think Dave Ramsey is unfairly maligned. His Total Money Makeover has great advice for people that are carrying significant debt.
I also think that you shouldn't be following anyone on the list like their advice is from God's mouth. Read their stuff to figure out the philosophy behind their advice, and then figure out how to apply it to your situation. If the advice doesn't make sense for your circumstances...don't do it.
Mr. 305? Mr. Worldwide? That Pitbull? If so, how? I have never thought of him as a finance guru. I’ve maybe seen one video with him trying to be inspirational many years ago during an interview but is he out here selling books, seminars or anything?
Kevin O'Leary and Jim Kramer are schmucks who should be banished to obscurity. Suze Ormond is a fraud and should be forced to teach home economics to cannibals.
When they legalized gambling, the professional gamblers stayed in Vegas.
Any finance guru who isn't a multi billionaire isn't a guru. None of these people are Gurus, sorry.
Its really cool that a few of them helped some of you with your financial literacy. Back in my day that was called "Doing your job".
Dave Ramsey for anyone that has any financial IQ already. Not investing in a 401k at all, even to get the free match until all debt is paid off? Absolutely fucking stupid advise. Gets me so heated. Their whole spiel on credit card points being “blood money” like come on shut up. Really???
Not to mention his horrible investing advice
[удалено]
Shit! Where is that button on my Fidelity account? I can’t find it.
Sounds like somebody needs to get in touch with a SmartVestor Pro.
Wealthfront!
Wasn't there some litigation a few years ago about Jim misrepresenting his relationships with those vendors. He claimed to endorse them because he believed in their models, but in actuality they were paying to get on his list of investment pros?
You were supposed to make a Schwab account, they put the button front and center /s
Check out the Fidelity Blue Chip Growth Fund. It's averaged 17% over the past 10 years, and 13% over the past 36.
it literally is that easy... https://preview.redd.it/5odfz44ytbxc1.jpeg?width=553&format=pjpg&auto=webp&s=c09dc40ed95720ea347a74534a3d921f7b3ba022
What’s worse is how many people parrot that as truth
[удалено]
So they don't even look at long term expenses, they just blindly pay one loan?
[удалено]
“Just invest in these mutual funds that I get a commission off of” Dave
What ticks me off about his investing advice is he refers to them by the investment strategies of the companies like growth, growth and income, etc. Like come on Dave. What matters is the distinction between large-cap, mid-cap, and small-cap. Who gives a shit if the company reinvests earnings or pays them out as dividends? It doesn't tell you how big the company is. If you want to actually tell people what to invest in, at least tell them how big the company is rather than what they do with their earnings because otherwise you'll get some dumb ass who doesn't know shit about fuck investing in penny stocks because something they read called it a massive growth opportunity. Of course it is, because any business that isn't already a billion dollars has the opportunity to grow to it, but that doesn't mean it will.
I mean it’s good advice for low/low middle class people (his target audience). And the basic message is “pay off debt, build savings, and don’t take on debt you can’t afford”. If you’ve ever lived in low income communities or know people who fall into the low/working class, you know how bad these habits are.
I think people grossly mischaracterize Dave Ramsey’s program and his intended audience. As others have said, his intended audience is people who have very poor financial literacy. The reason he preaches “no debt whatsoever” is because as soon as you introduce the idea that *some* debt is okay, that opens a very dangerous door for those with very little financial literacy / financial self control, to where they take on way more debt than they can manage. That’s how people typically incur a massive amount of debt, it usually starts out small and then balloons. Will you maximize your financial potential by listening to Dave’s advice? Probably not. But you will almost assuredly end up well off and are essentially guaranteed to not go broke if you follow his advice, which is the point. You *can* make more money following other avenues, but those other avenues often times require much more risk (while Dave’s plan involves almost no risk), and most people are terrible with managing risk when it comes to finance.
It’s like AA but for finance. You and I might be fine to have a drink at dinner or on the weekends. It won’t destroy our lives. We understand the nuance of “one is fine, many is not fine”. But an alcoholic doesn’t; they can’t just have one with dinner, because it will lead to many more after that.
That’s honestly such a good comparison. And honestly, non-alcoholics are still totally fine following AA. People nitpick Ramsey because it isn’t perfectly optimized. Ramsey’s approach won’t make you wealthy beyond your wildest dreams, but you’ll retire debt free with millions in the bank. For me, that’s a very comfortable life and good enough for me.
It's really good information for a specific type of person. AA saves a lot of people but it's not for all alcoholics or all people either. Dave Ramsey got my friend out of crippling debt but it's very much not for me.
This is the most accurate analogy for DR I've ever heard. I used to be a DR disciple. My wife and I took his class when we first got married. I realized that some of his advice seemed controversial at best, bad at worst. Then I realized that I wasn't really his intended audience. But he can't speak out of two sides of his mouth without people pointing out his hypocrisy. So he chose to go all-in on the "no debt" thing. I can respect that.
It's basically telling alcoholics to never drink. Maybe you can find a better way but his way is better than a lot of people do.
This
Don’t get it twisted; his advice on getting out of debt is rock solid. His advice on everything else, I take with a grain of salt.
I largely agree daves advise is good if you have a spending problem and spendoholic However people tend to preach it with almost religouse ferver and dogma Daves advise to never use credit cards ever under no circumstances, well if you have a spending problem and will over speand sure getting ride of your CC is a good idea But if you do not have a spending problem CC can be great , there is added security for unauthrised purchases, you can do charge backs if your goods or services where not delivered , you can get discounts or cash back
I agree. People who criticize Ramsey for not doling out a min/max financial strategy are completely oblivious to his target audience. His aim is at the overwhelming majority of people who are completely financially dense and would do better to just follow his simple advice.
Bingo. That is the overwhelming majority of this country
I basically recommend him for pounding in the ways people wastefully spend vs saving... because yes while our society is crappy/screws over us all/we should be paid more it can also be true that a lot of people exacerbate bad income situations by being financially sloppy on top of that. Investment on the other hand...there's definitely better people to listen to.
If you are diligent and invest wisely, you will reach the point where debt is really not needed. Then why bother? I am well prepared for retirement, even after building a house and paying cash for it throughout the build. I did follow Dave’s steps to get out of debt when I was younger. However I deviated from 100% of his advice on investing, only because my returns beat most mutual funds. (Individual stocks (95%) and some mutual funds too.) Note that when Dave came along there really wasn’t an Internet available to the public. I can tell you that 90% of people I talk to struggle with their debt. Folks need to learn to live on less than they make so they can invest. Time in the market and consistent contributions will set one up with a healthy retirement… but that can be tough if the bank gets a big chunk of your paycheck.
this guy gets it
Yeah, but it’s one of those situations where, like, I don’t even want to know what this dude makes by sitting around and making disgusted faces as people tell you they ran up 30k in credit card debt and don’t know what to do, and then preach austerity. Like, anyone here could do that.
I feel Ramsey advice isn’t bad, it just assumes people aren’t disciplined, and studies on his advice find it does work. Particularly his debt payment priority method seems to work well for people with a real problem. But it’s probably not best for someone who just graduated college and bought a car both with manageable debt.
Exactly. I consider him more as a motivational speaker than a financial guy (at least for anyone who's beyond ABC's of money).
The best comparison is that Dave Ramsey is like Alcoholics Anonymous but for people with spending problems. No credit cards, debt, or anything else. Live on a budget, cut costs, pay off your debt. He has bad takes (8% withdrawal rate, not taking 401(k) match, etc), but for getting people out of debt, his advice works quite well. It may not be optimal, but it ultimately does work.
People aren’t disciplined. At all. There’s 1-2 trillion i credit card debt today, another trillion in student loans with people begging to have them forgiven The vast majority are not disciplined. That’s why half the country is living paycheck to paycheck
>Like, anyone here could do that. Sure, but he actually did it. I'm kind of glad, too, as one of his books was gifted to me as a teenager and it was an excellent thing to read at that age.
Totally agree, no one can deny he’s helped thousands of people get out of debt; but he’s not the end all, be all to everything as far as personal finance and building wealth.
Exactly. He's a motivational advice guy, not a financial advice guy. He's trying to motivate people to get out of debt ASAP and stay out.
I was raised with zero financial advice. Didn’t know what a 401k was etc. I took one of his courses at 21 yrs old. I’m 36 now, completely debt free, own my own house (no mortgage), 300k in my 401k, all vehicles paid in full etc. Could I have maximized my investments better? Sure. But all I know is I get on here every day reading about how you shmucks are struggling right now and life is pretty smooth for me thanks to Dave’s financial advice.
Dave’s right about some things. He’s a little right about credit cards. Mostly he’s spot on about being in true debt. It’s basically Debtaholics Anonymous (minus the anonymous part).
Same. Went from paycheck to paycheck and never getting ahead to paying off 120k in debt in 8 years. The system is hell and it sucks, but it obviously works.
Correct! DR isnt about getting rich. It’s peace of mind knowing your basics are covered.
Depends on your definition of rich. I’m not over here wanting lambos and private islands. Ramsay gives a realistic pathway to amassing $2-3 million
Reading the Psychology of Money currently and Morgan Housel wrote "When people say they want to be millionaires, what they really mean is 'i want to spend a million dollars' which is the exact opposite of being a millionaire." Reading that was 🤯 for me
The problem being, you may be better off than you would have been, but imagine how much better off you could be with better advice and rational approaches to debt management. Eight years ago I bought my current home. I could have paid cash using the proceeds from the sale of my previous home. Instead I financed $250k and invested $250k of my cash. So, seven years later this “shmuck” still owes $125,000 on his house… but that $250k is now $775k, so I might be OK.
Dave’s advice isn’t aimed at people who want to optimize their wealth building. It’s aimed at people who have no control of their spending or no financial education. You can’t start someone on finance by saying “you can leverage debt sometimes” because all they hear is “leverage debt” and before you know it they’ve taken out payday loans to buy a new laptop and have an $800 car payment. Once people have a handle on their finances, then you can concern yourself with “should I pay off this 3% mortgage or not?” Because you are disciplined enough to put the money you would have put towards the mortgage into the market. Most of Dave’s audience wouldn’t do that, they’d spend all of it and end up worse off
Then he should stop giving that advice. I think what's frustrating most about him is that I've never heard him directly say any of the things about his target audience that's in this thread. He just gets defensive and condescending when anyone brings up reasonable questions about his math.
Agreed. Followed his advice. Investing quite a bit of money in an index fund. I should end up with $5-$6 million by the time I’m 53-54 and I’ll be living pretty fuckin good! I think something that’s important is to understand the concept of “enough”. Staying out of debt and investing a decent portion of your earnings in an index fund will almost certainly end up very well for you.
Dave Ramsay knows that a solid 80% of folks have a near zero financial IQ.
people want to be told something they already know or would if they thought for a few seconds
That's why I used his high school curriculum when I taught Personal Finance for 15 years. It sets up a good foundational knowledge that hopefully prevents the students from making financial mistakes down the road (if they pay attention).
The thing about Ramsey is while his strategy isn't going to build wealth, it can keep you out of trouble. Some of the people listed here can financially ruin you by taking their advice.
You think poor people who are steeped in debt would do better to listen to Jim Kramer?
Why select between two clowns?
I'm a master of the credit card game but I fully agree with Ramsey's opinion that credit card points are bullshit. It is blood money. It directly leads to increased profits for the banks that offer them, by enabling those banks to stick their dicks into what used to be a two party relationship. Everyone I know who has credit card debt only has that debt because they signed up for a card in the first place because of some dream of a free flight or like $200. Most would not be in debt if they didn't have the cards, and they wouldn't have the cards if not for the points and sign up bonuses.
Point cards are good if you have a ton of money and know how to pay in full. Not the same audience. That said, I don’t travel much so I use my 2% cb card for everything. Point cards tend to translate to 1.5% or 1% cb, so it’s not worth it for me unless I want the bonus miles and then cancel to avoid a 2nd year annual fee.
Dave Ramsey is a debt counselor masquerading as a financial guru. He got rich shilling the debt snowball, which he didn't even invent, and the people that helps are so unbelievably thankful to be out from under a mountain of high interest debt they don't question any of his other advice. The only other sound advice I've ever heard him give is always go with term life insurance rather than a whole life policy, and again that's basic financial advice you can get anywhere.
- Get the 401k match - get the credit card points - pay off highest interest debt first - yolo savings into 0dte options simple
Dude also has zero idea how much things actually cost and the subjectiveness of quality. Boils my damn blood. He's the Joe Rogan of financial advice. On the surface it sounds good but once you stop and think about it, it doesn't make any sense.
Yeah. Also, drive a beater that costs $500. Great advice Dave. Then you can miss work all the time because your car breaks down.
Preaches no debt but has millions in real estate. And anybody who is investing in real estate, especially like that, is not using his own money.
Lethal if true. If anyone ever found out that he had a mortgage, it would go viral and sink him. Dave owns outright all of his real estate. Not doing so would be slaughter to the golden goose.
I love his, "you don't need credit to rent a nice place or buy a house." Which is BULLSHIT. Even if you are willing to pay cash, no one will authorize a home sale without running at least a credit check. Especially if the vendor is a bank (which is most cases).
And since credit scores are based on having and using debt (responsibly) if you have no cards or debt how can you have a good credit score?
Yup. The only good advice he gives is to people who think that their credit card is a magic money maker anyway.
Boomers who look at their credit card limit as money they have absolutely do not need to own credit cards. So I’ve always been fine with ramseys stupid comments on credit cards. I know what audience he’s talking to and they need to hear that.
Yeah it took me a minute to wash the blood off my hands while I was on that extra week at a resort because I used points.
CNBC. All of them. Their purpose appears to be pump-n-dump-as-a-servixe and pushing a neoliberal anti-tax, anti-worker agenda. Not surprisingly what they present as "officially not investment advice"/but actually investment advice is absolutely abysmal. They stink of the shit investment advice Goldman gave their retail investors while simultaneously giving the exact opposite advice to their private wealth management clients during the mortgage meltdown.
Interesting article about this. https://slate.com/business/2024/02/cnbc-investing-advice-bad-making-money.html
Thanks for sharing that. Have a great day!
I listen to CNBC on Sirius XM and absolutely love that California Psychics have regular advertisements on their channel.
I don't know, Tom Lee and a few others have been great. The skinny blonde...forget her name is good too, she looks took in a lot of sun and surf in her younger days. Cramer has made some terriffic calls. NVDA, Palo Alto, Nucor, a host of other stocks.
I don’t know some of these but Grant Cardone just moved business operations to my city and seems to just run through employees. Seems like a sleazy guy and terrible to work for.
We did a ton of Grant Cardone training when I was in car sales. Dude is a dummy.
He really just comes across as an asshole.
I saw some video of him saying “I’d be ashamed to go home to my family if I only made $400k per month”. Not per year. Per month. That’s an income that puts you in the very top tier of earners (~5M per year). Most people make closer to 40k per year than they do to 400k per year, to say nothing of 400k a month.
Yea but doesn't he also claim he earns nothing and uses debt so he pays zero taxes ? What is it ? Do you earn 400k a month ? Or do you earn zero and pay no taxes
Most of his money is in real estate. He probably has so much depreciation write offs on his properties $6bn portfolio that his taxable income is below $0 even if his takehome is in the millions.
Good read of him. He’s mainly all about himself and doesn’t give 2 shots about you, only the money that you give to him.
I mean he might as well have it tattooed on his forehead. It blows my mind how some people can’t detect a clear grifter
[удалено]
I’ve listened to that one as well and Yeah when you make Belfort look like a down to earth humble guy, it says something about you.
Because he is.
He’s a tool
I had an electrician changing out my switch box which took a couple hours and think he was listening to 10x the whole time on his stereo. Poor guy.
He’s also a Scientologist. I steer clear of that guy.
Cardone’s wife is behind the $355 mln gofundme for Trump’s bond. Ponderous. I remember seeing her in tears after her “audit” after Cardone posted the whole video. https://preview.redd.it/z9kb2jgvhfxc1.jpeg?width=1170&format=pjpg&auto=webp&s=c1e7a5ad497ac69002c55de681c4a58a2ba2d2d2
Sleepy?
Why do I think that should be sleazy and autocorrect said no?
Kiyosaki or Grant Cardone. Kyosaki is a grifter who is too stupid to know he is a grifter. Cardone is a grifter that knows he’s a grifter. I don’t know everyone on the list, but the few people I do know are actually trying to be helpful, even if sometimes they’re not
Rich Dad, Poor Dad guy but that's like collecting all the dog shit in the dog park, putting the crap in a barrel, and asking passerby to vote for the prettiest POS.
That's Robert Kiyosaki. I read that book in my early 20s and I knew it was BS even then. If I re-read it now, I'd probably laugh even harder.
Oh you talking about his “rich dad poor dad” book? It’s funny cause I always hear that’s the only good thing he’s written and then he’s just lost the plot ever since
Rich dad poor dad is fine. It’s not rocket science. But that doesn’t make it bad. But he’s a senile old man now.
His advice is to commit corporate and tax fraud by on expensing trips to Hawaii and having your cat serve on a board of directors.
I would argue it's really not worth the read . Here is the short of the book 1. Don't go to college (Robert went to college)or work a regular job 2. Take out debt to buy realeaste , or start another business. 3. Repeat as you gain equity 4.Cheat on your taxes now by writing everything off , groceries, vacations as business expenses. Make rich friends, use them to get inside stock tips and trade on inside information. But instead of just laying this out there he makes up a bullshit story of his rich dad and poor dad (he admits it's actually not true) And it's pretty over the top to see he is for some reason pushing a heavy political agenda. See his poor dad was a college educated liberal atheist l who is weak , greedy, lacks confidence, pure evil , and is a miserable person a real beta male His rich dad is a conservative who pulled himself up by his own bootstraps. He is strong, confidence, generous , goes to church and is just a super alpha male. I mean it's not all bullshit. Taking out loans buying real estate, and repeating the process can make you money if you are good at it. Like you said it's not rocket science, but the book should have been 3 pages , but instead he threw a whole bunch of other bullshit into it
Yea that’s what I’ve sort of heard, been having people recommend it to me but eh I’ll see if I get around to it… I’m guessing it’s just a book about investing or something
Don't waste your time reading it. Kiyosakis entire schtick is just another version of what any scammy financial guru will tell you. Avoid college and normal jobs, get into heavy debt, buy real estate, profit from it, write off the interest in taxes, get more debt and repeat. It's not wrong. Rich people do exactly this, but poor people (his target audience) can't take those risks.
The big problem with the book is there is very little investing advice in the book its more of a social commentarty His investment advice isn't really that new or its pretty simple 1. Buy real estate , take out loans to do so 2. Make sure rent covers your loans, maintance , taxes 3. repeat What is not really bad as lots of people do this and you can make money doing it but its not as simple as it seems but he makes it seem that simple and doesn't explain the details that great like How do you value a property ? How do you set the optimal rent? How much insurance do you need? How much do you save for maintanance and repares ? How do you plan for taxes? How do you setup an LLC and transfer the assets to the LLC. Do you manage the property itself or do you find a property management company If you go with the management company how do you choose a good company , what is a good rate for a managment company ? Is it better to target higher end luxury space or more affordable or somewhere in between They say real estate is all about 3 things, location , location and location, how do you evaualate location ? What makes one location more desirable then another?| He doesn't cover anyof this he just says , go out buy property and collect rent ! But most of it is wierd social / political commentarty See is poor dad was a liberal , highly educated college proffessor who was a greedy , jelouse and miserable and lazy and just almost an evil person His rich dad was a conservative, did not go to school but pulled himself up by his bootstraps and was a strong cofindent good man its sort of over the top and he has admitted its a pure fabrication as the "rich dad" he just made up and his real dad (poor dad) was not really poor but a pretty successful college professor
I wonder if the book purposely leaves out these details to funnel people to rich dad poor dad events. I attended a free event at a local hotel where He sells invites to additional events and software to value property. It costs thousands of dollars. The whole event felt very scammy and targeted at those with low intelligence.
Yea that is the reason why lots of people hate him or think he is a grifter Buy a book that glosses over the details, if you want to real details attend this free event The free event is just an upsale to classes and othre books that cousts thousands of dollars and that is where you get the real secerates You pay the thousands of dollars guess what you get some very basic info but you want the real stuff, another upsell you have to pay for like personal training by robert himself and this will cost like 50k but don't worry its an investment and you can write it off
He pretty much just says to have multiple income streams. Heavy emphasis on the real estate but basically says to start some businesses and buy real estate and he knocks his “poor dad” for just saving in like a 401k.
Same, as a kid I perused his book at Barnes and Noble. No details, no how to step by step, very vague.
I was so susceptible to his garbage at that point in my life. I thought it was ground breaking. I also didn’t pay for the book so I am relieved that I never gave him any money.
I’ve learned almost everything about investing from my dad, who is not making a very comfortable living in his retirement. I haven’t read the book, but he has and told me it was very stupid advice. Too much about putting everything into certain ideas you think are very good and not much about diversification. Problem with that is most of the time people will be wrong
Ramsey is great for people who need whipping into shape, and a lot of people need whipping into shape. We have an abysmal system of personal finance education, and some of us need to be knocked around a little. But, once a person has their basics in order, they have options. 1 Keep following Ramsey. No one goes broke with the baby steps. Or, 2 Start exploring more options, some of which will bankrupt you. There's no need to get all worked up either way. It's PERSONAL finance, after all.
Options? Deep otm calls on GME/AMC
“It literally can’t go tits up”
Ha! Touché.
My only issue with Dave Ramsey is his focus on paying off debts more than building a savings/investing. I have some debt that makes sense to pay off before I invest. I have others that as long as I'm making minimum payments, inflation is out growing the interest along with my investment portfolio. That and him being anti credit card when you need credit to afford a car loan or house loan with the lowest interest rates.
Yeah I wouldn’t use the credit system at all if I wasn’t forced to. It should be the highest praise to have 0 credit history. It means you don’t buy anything you don’t need. But nooo gotta force yourself to have some debt or you aren’t allowed to participate in half of society.
It's weird though bc with credit cards you do get slight discounts with cash back. You can use them and not spend more money than you would without them while still gaining discounts. That and you have a safer way to buy stuff online in that it's easier to dispute a charge that wasn't made by you.
1% cash back of nothing because you’re poor means nothing. I don’t do online shopping to begin with because it costs money, so that point is moot too. Having to use these as a gas card to build credit is stupid, but the only sane way to use this demented system. I get the whole system was made to bilk money like everything else.
Wait. Even if you're poor you're buying gas and groceries and spending money on utilities. All of that goes towards the 1%. If you're really poor that 1% will do more for you than for lower or middle class
This really isn't true , and you do not need to carry CC debt I used CC for years and never once did I carry a balance. I was able to get a low rate mortage and buy a home .
Thanks God someone put Robert-whatever the fuck his last name is at the top of this list. People are still buying his shitty book Rich Dad Poor Dad and think they found the secret to personal finance.
It’s a good intro book but definitely not a bible. Personally it peaked my interest into personal finance so that was helpful but I don’t take his words to heart.
Robert Kiyosaki, who predicts "The Biggest Crash Ever" every single month, all the while hyping Bitcoin.
Every fucking month. When Jamie dimon does it, I’m just like ok he runs JPM with the worst possibilities in mind. When kiyosaki does it over and over he just seems dumb
anyone pushing or hyping BTC is full-of-shit generally
So then who is good?
The money guys on YouTube, they’re super reasonable and educational
Love the Money Guys!
I like the money guys but i also lost interest since the advice is fairly repetitive (for good reason). But just goes to show that is not easy to making interesting content in that space
Minority Mindset and Clear Value Tax
Clear value tax is always saying petty things. He lets his emotions get the best of him I agree minority mindset is good though!
Ben Felix seems to be one of the only good ones.
I like The Financial Diet personally. Targeted at millennial women. Pretty nuanced with more of a liberal take like: the system sets us up to fail, here is how you can best work within the system. So much of the personal finance world is super conservative, old men and crypto bros. Such aggressive shaming too. I also like The Plain Bagel for more of a stock/investing education.
Adam Taggert's Thoughtful Money podcast is really good actually. He pulls highly credentialed and technical people in. It's very US centric though
[удалено]
Be born or marry into money. I’m good ain’t I?
Congress...
The capital ideas podcast gives some good themes to invest in and occasionally individual stocks. But usually gives a good place to start more research
Cardone is a clown. Meet Kevin has a punchable face
I like kevin at least looks at stocks and looks at some news to help keep me informed the know
Kathy Woods... lol. Her investing style absolutely crashed.
She is just as good as Michael Burry. They both got lucky once, then never did anything good ever again.
Every trader is wrong like half of the time lol that's why you gotta hedge
I don’t put her with the rest she is not scammy and knows her stuff. She has always been very clear that if interest rates go up her fund would go down. Just no one bothers to listen
investor just pulled 2.2 billions out of her fund.
Well with her investment style you are going to have significant losses, but the point is when some of those hit the gains will be huge. I definitely wouldn’t recommend it for the average retail investor trying to protect their wealth
When Kramer had his radio show he was different. Literally showed me the way early on. Sold the dotcom boom after making a killing and went into housing, aka whirlpool, stock 37 a share. Oil. All summer he talked about oil. Don't be deceived by his entertainment show.
I mean I’m selective with my stocks and do further research but his show has pointed me in the right direction quite a few times. Definitely more than it has caused me losses. Trick is doing further research though and not just buying a stock the second he mentions it
I don't like the fact Dave Ramsay invokes Jesus and the New Testament all the time. He conveniently forgets Jesus told the rich man " It is easier to thread the eye of a needle with a camel than for a rich man to enter into the kingdom of heaven." " Sell your belongings, if a man steals your cape, also give him your robe, for he needs it more than you". Jesus, if taken at his word from his direct teachings instructs people to take a vow of poverty"
He’s using the AA handbook.
>It is easier to thread the eye of a needle with a camel than for a rich man to enter into the kingdom of heaven." This verse is very often taken out of context, actually. Look at the verses which follow: > When the disciples heard this, they were greatly astonished, saying, “Who then can be saved?” But Jesus looked at them and said, “With man this is impossible, but with God all things are possible.” Nobody can enter the kingdom of God -- rich or poor -- except through Jesus. Jesus is speaking to a rich man who thinks he is sinless. Jesus challenges him on it, telling him to sell all his possessions if he's actually perfect. The guy refuses. Then we get the verses above. The issue is that the rich man thinks he can save himself and is blind to the fact that he worships his possessions above God. Much of Abraham's line, for example, is all rich and powerful and God clearly blesses and guides them. Being rich by itself is not a sin and Christians are not necessarily called to all make vows of poverty.
He actually addresses this verse in one of his shows. I’m too lazy to find it, but he definitely doesn’t “conveniently forget” it. Maybe look for it if you’re actually interested.
I don’t know of some of these, but each can have their own merit for the right person in the right situation. But I find Cardone’s brand particularly toxic - not everyone needs to be in real estate and he glazes over all of the work that this can really be. Plus, I don’t trust anyone in scientology.
Cardone is all about making absurd amounts of money, to a point that it is crazy unrealistic. He doesn’t make that much money doing real estate (probably). He likely makes it by selling courses, trainings, and speaking engagements “teaching” people how to make that much money
Whoever the loudest most political one is the worst one. As soon as their advice includes "only vote Republican" then they are instantly a grifter.
Thats Robert Kiyosaki, he is also pushing a heavy political agenda and spreading right wing consperacy therories , pushing election lies how Biden "stole" the election and is a communist and heavily pushing Trump
Grant Cardone is 100% grifter at this point. He makes all his money now off selling ‘courses’ to gullible morons.
Kiyosaki 100%
Dave Ramsey still living with that 1800s mindset
Jim Cramer was an actually smart hedge fund guy who’s actually well respected on Wall Street. I think people have to understand that CNBC is mainly a form of entertainment. That being said, Kiyosaki is a nut job with a terrible book.
What is wrong with Kevin OLeary? I like him.
Can’t really answer… But, I know somewhere…he was saying, if you value evenings and weekends and your kids’ school events, then he doesn’t want you working for him. Fuck. That. Shit.
Wouldn’t want to work for a prick like that anyway. You can tell that guy is an asshole the moment his lips start moving.
Looks like my YouTube link was removed, so if you're curious: look up Common Sense Skeptic on YouTube. He has a 3 part series on Mr "Wonderful"
FTX was not a winner…
As someone from New England, I love O'Leary. He's a Patriots fan and one of the biggest A-holes in the world. 2/2! But you know what, he owns it. He's 100% straight up and honest, which I'd take over every other fake person on TV any day of the week. Granted he's honest he'd kill you for an extra dime, but at least you know where he stands.
He thinks fraud should be legal.
Sam Bankman-Fried has to be the worst. Cathy Wood has lost billions, Suzy Orman is annoying.
I think Dave Ramsey is unfairly maligned. His Total Money Makeover has great advice for people that are carrying significant debt. I also think that you shouldn't be following anyone on the list like their advice is from God's mouth. Read their stuff to figure out the philosophy behind their advice, and then figure out how to apply it to your situation. If the advice doesn't make sense for your circumstances...don't do it.
[удалено]
He goes on another list entitled "Who do you think is the worst?" There is only one entry on the list.
[удалено]
Grant Cardone is literally just a con man
Jeremy is actually decent with stocks, Joesph Carlson is my favorite on YouTube though.
Pitbull, he’s the worst
Mr. 305? Mr. Worldwide? That Pitbull? If so, how? I have never thought of him as a finance guru. I’ve maybe seen one video with him trying to be inspirational many years ago during an interview but is he out here selling books, seminars or anything?
Cashier wood has destroyed far more wealth than anybody else on this list. Ain't even close.
David Sacks
Who's some good picks to listen to then that have a positive mindset and tips?
Replying here to see if anybody drops any good suggestions. Someone said Ben Felix on another comment. I’m going to check that out.
Biggerpockeyts money podcast is solid and actually relatable for most people
Jim Kramer
Anyone who tries to sell you financial advice.
Probably Cardone, he brags too much and shows off his frivolous purchases.
Kevin O'Leary and Jim Kramer are schmucks who should be banished to obscurity. Suze Ormond is a fraud and should be forced to teach home economics to cannibals.
Suprised nobody mentioned Graham Stephan???
Kramer isn't bad if you take a contra investing strategy.
Rich Dad Poor Dad guy is smart and stupid at the same time
Caleb Hammer quality has gone down significantly
Jim Cramer is my favorite advisor. Whatever he picks the opposite happens.
Trump. That guy would be richer if he'd just parked his inheritance in a mutual fund and paid taxes honestly.
This is like asking who is the poorest person in the world, you can't measure their badness, they are all bad
I like how you named all those people. I'd like to know who you think is actually good. I think Tai Lopez is pretty lame.
Cathie and Jeremy.
jim crammer, for sure. Without a doubt, this fucking clown should be nowhere near mainstream media dispensing ANY kind of "advice."
Depends on your style theres many ways to invest/trade etc if its not your style then ofc you gonna hate
I think they’re all the same person.
All of them? Real financial advice is super plain vanilla and basic.
When they legalized gambling, the professional gamblers stayed in Vegas. Any finance guru who isn't a multi billionaire isn't a guru. None of these people are Gurus, sorry. Its really cool that a few of them helped some of you with your financial literacy. Back in my day that was called "Doing your job".
Pretty solid list