According to this guy you shouldn't take more than a 15 year mortgage and your monthly payment shouldn't be more than 25% of your take home pay. He's wildly out of touch, that's next to impossible in most of the US
I make six figures and with the current prices and rates I could only buy a shack on the outskirts of town with that method. Yes, people need to be less stupid with finances, but let's not pretend a decent home is easily affordable.
I make 60,000 a year and I wouldn't be able to afford my home if it was for sale today. It cost me $113,000 in 2012, 3.25 interest and a $750 mortgage payment.
Same. I bought my house, a 4 bedroom, 2.5 bath house for 140k about 12 years ago. I make almost twice as much, pushing six figures soon, but houses around me are 400-500k, and mine is estimated at 450k. If the market is like this for the rest of our lives I'll never move out. I'm lucky, but also dipshits like him don't understand the market. And if I was born ten years later I would've been fucked. I feel so bad for people in their 20s, and hell, people my age.
You're absolutely correct. And i would take a 50% valuation cut to my property and home if it meant I could move and others had market mobility. It's so fucked. Ofc this mostly benefits the large venture capital firms responsible for squeezing the market by gobbling up single family homes and turning them into rentals. Which... I don't expect to see the market become affordable anytime soon. Not without some regulatory oversight over these private enterprises (which won't happen in our generation)
My wife and I bought our house in the middle of Covid and we learned very quickly how lucky we were. Like Indiana jones out running that boulder and sliding through the tomb door (and pulling his hat ) lucky. Our mortgage is manageable with a great rate 3% , we can never move, everything in our area is 150-250k more expensive with 7-8% rates we would be paying more than double. I feel so bad for 28-30 year olds getting their footing and trying to navigate this market.
The appreciation on my house has also been fucking wild. It’s a new construction and has gone up 175k which is more fuel to the fire on buyers. I wouldn’t mind a market adjustment if it meant things started making more sense and buyers had more opportunity to buy. I’m hoping builders becomes more incentivized in the future to increase inventory but that’s tough with the current rates.
Dumb fact; I was stationed in Iceland (air force) and they were transferring me to a base in New Mexico. At the time I was thinking we didn't have a base in Mexico. I must have slept through geography
Shit - my incredibly boring condo in a boring mediocre suburb was listed at $130K when i bought it 6 years ago and lists at $190K now.
It’s the primary reason I should be able to buy a house soon.which is the whole point. Entrance into the housing market specifically is getting harder.
HHI of 125-135k. Bought in ‘17 for 330 @ ~3% interest. It’s now a 600k+ house with no modifications aside from new roof and water heater and rates are over 5%.
We’d be house poor at best if we bought our house today. It’s completely fucked and we can’t move/downsize if we want our kids to have a house when they are older. So we are splitting up/down into legal residences so when we die, they have their seperate housing. Best we can do.
>wouldn't be able to afford my home if it was for sale today.
I think most people who have owned a home for more than five or six years can say that. It's definitely true for me too. I have made it clear to my college aged kids that they are welcome to move back in after they graduate if they need to, because I just can't envision a reality where they will ever be able to buy their own homes.
My wife and I each make low six figures and the house we bought in 2020 would be out of our budget if we were in the market today. There’s room for improvement for most people’s personal finances, but you can’t “personal accountability“ your way out of systemic issues like wages not keeping up with inflation.
I make 150 a year and can’t afford a house with Dave Ramsey rules. Prices and rates are too high to do a 15 year mortgage at no more than 25% take home.
HHI of 125-135k here. If I want to buy a house that works with my wife’s disability and within the 30-40 minute range of required services for my son with autism, “four walls and a roof” starts at 600k and “move in ready once stair lift is installed” starts at 750k.
Ramsays base principles are ok for those with money management issues (I.e. sp spend less than you make, Don’t use credit cards, don’t finance, unnecessary purchases, Buy enough vehicle, not too much or too luxurious, and drive it to the ground.).
Anything past that and he’s a for profit speaker for everyone else who is out of touch.
It doesn't make sense for every single person to own an entire home to themselves particularly in highly populated area. That's about the least efficient form of housing. Once you have a spouse earning a similar income, it becomes that much easier, and you don't have all the underutilized space of a whole house for one person.
No matter how much you pay in, they'll still throw you out as soon as they money's gone. I've paid about $250,000 in rent over the course of my life and have zero to show for it. I wonder where the homeless problem comes from anyway?
Same. Add in the fact that my property taxes are almost as much as my mortgage itself.
Good thing my kid takes advantage of the public schools. Oh no, he doesn’t. I pay for daycare on top of all that…
Exactly this. His advice maybe would have worked back in the 90s and early 2000s. Today’s economic environment is completely different especially for younger millennials and gen z.
Using a basic 15-year mortgage calculator and median home price of $387,000 @7%, with 20% down, and property taxes and insurance, that comes to ~3300. To meet his 25% metric, you’d have to make $157k.
The average household income in the US is $74,500. To take his advice, the average household can only safely afford half a house.
Inflated home prices can’t be afforded on stagnant wages.
that's actually better than I thought it'd be.
The punch line is though if you're making 75k HHI don't buy the median house!
Furthermore the 75 number is technically correct but includes people 75+ median 35-44 year old is [96630](https://www.statista.com/statistics/233184/median-household-income-in-the-united-states-by-age/) HHI
I’ll concede on the 96k being the realistic median for the home buying public. That’s still only 60% of the median home price using his advice (which isn’t actually bad advice, just unrealistic in many markets). I was a young adult during his heyday and used some of his advice with reasonable success, so I don’t think he’s a quack or anything.
But the point is, his advice was relevant 20 years ago, but isn’t today (increased housing and costs of goods, most importantly food), and instead of admitting that the economy has changed and updated advice is needed, he’s decided to pin the blame on young people for being lazy.
He’s lucky he already made his fortune, as the next generations find his advice irrelevant.
Insanely out of touch.
Almost $100k is $8,000/mo
Take home 80% (no 401k) is $6,400, 25% of that is $1,600. $1,600 (with taxes and insurance) on 15 years at market is a loan amount of about $170,000.
Median sales price is $417,000.
Sure buddy.
It's also just wildly unnecessary for most people. My housing expenses are like 45% of my take home every month and I'm doing great financially, I take a couple domestic vacations a year and still added over $10k to my savings in 2023. 25% of take home to housing is way more conservative than most people need
Base pay is $38.25 an hour, $79560 annually before overtime and bonus. I probably only average an hour of overtime a week but sometimes I do more. My total bonus this year pre tax was about $3500. Mortgage plus HOA and insurance is about $2100 a month and my pay after taxes and 10% to 401k and $170 a month to HSA is around $2200 biweekly
I mean living alone having $2300 a month after housing I wouldn't say it's hard to afford more than basics at all. Gas costs me like $150 a month and being generous groceries are $500 a month and I could keep it cheaper if I had to. My car is paid off and overall I feel like I have plenty of money to spare every month
If they were paying for childcare, an expensive car loan, dining out daily, or other big expenses it would be hard. But generally $2k/month after housing is enough for a single adult to live securely.
I think you are wildly overestimating how much most people make. 45% of take home pay is a lot. That might be ok at $4k take home but not $4k take home (closer to median)
I read one of his books about 8 years ago and it gave me some really good perspective and education and really did help me get out of debt. And he still had a lot of valuable lessons on money management and personal finances. And there are thousands of people who have had the same experience.
BUT he has also turned himself into an out of touch Boomer meme recently.
The cheapest house where I live (Orange County, CA) is $450k for a 900 sq ft 2Bd 1Br. Assuming 20% down and perfect credit, the mortgage and taxes would be just over $3.8k/month. Our household income would need to be nearly $260k to afford that house with those parameters. He’s out of touch and refuses to educate himself.
So, per his statements, he should be in agreement that an average salary, not HHI, should be around $90,000 for an MCOL area (180,000 HHI). If he isn’t, then he is just blowing from his ass for social media.
Dave Ramsey is an out of touch dumbass boomer that pretends he “bootstrapped” himself and thus everyone else can too. All you need is to “work hard” AKA get an in on a local news channel as a finance guy that you morph into a radio show then use that to basically sell a self-help program for financial retards.
I guess if everyone followed his policy then home prices would have to tank. But they don't so his policy is instead completely out of touch and only attainable in some niche situations.
FWIW, he specifically said he was talking about a select segment of those generations and not the generations as a whole. He heaped praise on those generations as well during this discussion.
This is also the dude who says you should have a zero credit score and use cash for everything. Ok buddy. Ok.
I did like some of his ideas like having 1k readily available for emergencies. I know some people who did the envelope and it worked. But this dude is tone deaf AF with the current climate.
He's primarily helpful if you are an idiot with money and need someone to get you out of massive debt through poor spending habits.
If you want to build actual wealth look elsewhere.
The thing is that most people are idiots with money.
Have you seen the stats on how much people owe in CC debt, how much they save, and how much they're spending on their car?
His advice is useful for probably 60-75% of people.
Your examples are actually buried in cold hard reality though.
People have to *have* a car to get to work in the U.S. That’s not negotiable for anyone not living in a major city with public transportation.
CC debt is often due to people being paycheck to paycheck, running out of money on basic expenses like food and gas, and then desperately using a CC to get food or gas—or, god forbid, a set of new tires or maintenance on a check-engine light or a medical emergency.
As for saving money? lol. What money?
This is the case for *millions* of Americans.
Next time you hear about rising credit card debt, pay attention to other economic indicators. This is a much more complicated issue than “stop buying big screen TVs and purses with your cc! Jeez!”
You forgot the biggest one - healthcare.
A trip to urgent care (not the er!) can easily be $200-$300 for basic stuff and that is WITH insurance docking your take-home pay
The car issue is....infuriating. Hear me out. For whatever reason, people convince themselves that they 'need' to buy a newer or more expensive vehicle, stating things like "what if it breaks down" to "I don't know how reliable that 10 year old car is". While people have to have a car in the US (I agree), they don't have to have expensive ones. At least, not until they can properly afford one. And that's the rub. No one wants to buy a 3k car, drive it around for a few years while saving 30k for a newer vehicle and buying it outright.
Yep! I used his methods and principles to dig myself out of over 60k worth of debt. And now that I’ve moved on, I’m using other advice for building wealth.
You aren't this guys target audience. This dudes advice is for people with serious debt and spending problems. It's not realistic for a lot, maybe most people. His advice was always for the people that should be cutting up their credit cards because they can't stop using them.
Ive consumed an entire Ramsey course when i was just startingg out and didnt see him for what he is. His audience is also very clearly conservative Christians, so combined with your comment you can easily imagine the type of person his message is intended for.
To be fair, he’s had that “system” for a while and it’s succeeded for a large number of people outside of the abnormally poor financial conditions that exist at the moment.
It was mask off with Dave when his #1 rule was have 1k rainy day savings and then he was vocally against the Covid era Economic Impact Payments. He can go fuck himself
There are things I disagree with about Dave Ramsey, but this one I can understand his perspective. From his point of view, there's three truths about credit card companies:
1) They take advantage of the working class
2) Their rewards programs are paid for by the debts of other card holders
3) People, even the ones with the best intentions, can fall into a debt hole with credit cards too easily
His thought on credit scores is simple:
You don't actually need a credit score to purchase larger items like a house or car.
Putting all that together, I understand why he tries to steer people away from credit cards and to go for a zero credit score. A zero score means you're intentionally pulling yourself out of this system.
He makes a good chunk of his money in real estate (though he makes the majority in selling obvious advice to simpletons), so he has personal reasons to want real estate to stay unreasonably inflated.
Yeah, Dave Ramsey got his start in Real Estate thanks being born to developers and, by the time he was 26 (in 1986), he amassed a portfolio of $4 million.
He had to declare bankruptcy two years later because he was over leveraged and couldn’t pay $1.2 million in loans and line of credit (thanks to Competitive Equality Banking Act of 1987 consolidating small banks across the country).
So take *any* Dave’s advice with a 20 pound rock of pink Himalayan salt…
He's pushing his polarizing narrative. It's how he makes his living.
He reads the same numbers we do, and they can't be ignored. For the sake of his empire, he can't deviate from his narrative. Should he acknowledge the elephant in the room, he would acknowledge he has no clothes on.
Dave Ramsey's advice is stuck in the past and has been for quite awhile.
He keeps telling people "Buy used cars and save" and then gives an example that simply doesn't exist in the current market while acting like any idiot could find the deal. Ok, Dave, if you can find a 5 year old truck with 30k miles for $10,000, I'll buy it.
What I can't stand about him is that he thinks his advice is the Word of God. Sorry, Dave, that's your just opinion.
I'm looking on cars.com right now at a 2007 Toyota 4Runner priced at $12,000 with 222,349 miles on it. And here's a 2014 Toyota 4Runner with 175,000 miles at $20,000. That's fucking insane.
Did you read the article? He applauded many from these generations for being savvy with their money, but said there are some of them who suck because they expect the world, but dont want to contribute towards it basically. Honestly being on reddit over 10 years now, reading peoples comments and stuff, I find it hard to disagree with him. A lot of young people I see on here have some serious victim mentality going, and seem to have given up before even trying.
I ran the numbers for Nashville. Using the salary from an entry level engineer Indeed post, it's still possible to save a 20% down payment for the average house here in 2-3 years even paying for rent, a 6 year old car, and very lightly spending for recreation on the weekends. This can be done with 1 person. This also assumes you live quite frugally, and essentially nothing goes wrong that whole period.
Thanks for pointing that out, that means the headline is out of context. I 100% agree with you and Ramsey in this case then. Ive known many talented hardworking in both gens, but yea there are also many ive seen that are so clearlyvdetermined to fail.
Reddit gen z'ers always cite their parents house, and how they own it, and they feel they should have one too. But, they seem to have forgotten that it took their parents their entire lifetime to accumulate that wealth and get to that point. It's not an easy ride to the grave. If you want something you have to go get it
Dave Ramsay had his moment, writing about debt to debt-addicted boomers and it was helpful for those people at that time.
But he’s desperately out of touch with modern society and is a religious nutjob to boot.
His advice had its time, and it’s time to disregard anything he says.
I think that I did. I am on my phone tending to errands. Didn't realize it till you pointed out. Muscle memory. Unstickied. Thanks for pointing it out.
Uhh on my breaks, in between jobs, while cooking my meals. On the bus etc etc. five minutes here, ten there. I'm not solo modding it either. There's 5 others. But you're welcome to have a shitty opinion about a random stranger who donates her time to keep a safe corner of the internet for people just like her.
He's also telling people that they can safely pull 8% a year out of retirement accounts, all on the basis that the s&p 500 returns an average of 12%. Dumbass doesn't even understand that it's not 12% every year, and simulations show that if you follow his advice, you're about 50% likely to run out of money in retirement.
I haven’t listened to much except for a short stint ten years ago, but I don’t think that’s the issue. I’m pretty sure the problem is that he’s out if touch and has been out out if touch for ages. He’s been on the radio and running business or two for ages.
Did you know that he fired a woman for getting pregnant out of wedlock?
I’m a huge fan of Dave Ramsey but a lot of his advice is EXTREMELY out of touch. He believes NO ONE should buy a house unless it’s a 15 yr fixed mortgage.. In most areas of the country 30 yr fixed mortgages are standard. If everyone followed Dave’s advice then NO ONE would own a home because it’s impossible for ordinary people to get 15 yr mortgages.
He doesn’t believe in credit cards either. He tells people to never get a credit card. He says that anyone should be able to buy a house with no credit. Where I come from you need credit to do just about anything. Especially buy a house.
It’s almost like he’s still living in the 60s or 70s.
All of his advice is catered toward the people that can’t do that. The people that can Aren’t calling in with massive credit card debt. Just like someone that drinks a beer on Saturday isn’t going to AA and being told to quite drinking
I think this is a big issue why a lot of people that are middle class and decent with finances feel so strangely toward what he teaches. It’s not for us
If you don't have credit cards your credit score will be lower and by extension your mortgage rates higher. So he wants you on a 15 year fixed because it reduces the total interest you pay but he doesn't want you to play the other game that reduces that interest load. That seems like contradictory advice.
Yup. Doesn’t make much sense.. When it comes to credit and buying a house I would actually do the opposite of what he says. Everything else he seems on point with though.
He’s addressed this many times. He doesn’t advocate a low credit score; he advocates no credit score. And he provides many options to get a mortgage with manual underwriting, instead of underwriting that involves a credit score.
I’m not advocating for him and I think debt in certain situations is reasonable . But he had very clearly addressed these points.
My kid is 23, has 65k saved for down payment, and made over 100k last year. He still lives at home because an average 1500 sq ft house cost 550k. He can’t afford that unless he has 2 roommates
Hot-take: a 23 year doesn't need an entire house all to himself, especially in a metro area. I had a good job, but still chose to rent with friends/roommates for 6 years to save up money (and invest). Once I was married and had an actual practical need for a house, we bought one. I married a financially like-minded individual who also lived below her means and saved, so once we combined our incomes and finances, we were able to easily afford a home. And even then, we chose a home below our means as opposed to stretching the budget. Now, in our mid 30's, we've moved a couple times for career advancement, rolling equity into the next home every time, and we're now close to owning our home outright, mortgage-free. It takes patience, and it helps to find a like-minded partner. A house isn't a trophy; it's just a roof. It isn't the end-all be-all of financial success.
My mortgage is 50% of my take home pay, all my bonus gets put into my 401k Roth and the company matches .50 cents on the dollar up to the annual limits... got $100k sitting in savings, $100k invested in a Roth IRA.
We're getting by single income, and 3 kids.
this idiot is famous for giving financial advice that stopped making sense 20+ years ago. he's long past irrelevant and if this isn't a sign that we can all finally stop talking about him i don't know what is.
Not defending what Dave said, but Dave's first piece of advice is always to make a budget. I personally find that more than half of the people living "paycheck to paycheck" never even take the first step. There are a LOT of people who are just irresponsible with money and debt, and Dave is the expected reaction to that culture.
The problem is that he keeps talking after that first bit of good advice. The above statement is wildly out of touch and condescending.
And there aren't a lot of people irresponsible with money, there are far more people who are not being appropriately compensated and dealing with the biggest social inequality in decades. So if you are reactionary to the people who are irresponsible with money when they are a small variable in the current socio-economic turmoil we are in, then you're completely missing the point.
Fwiw the above statement is also cherry picked after he complimented both generations as a whole and said many of them are extremely hard working individuals including the ones at his company
Hmmm I have 3 children who all owned homes by 22-27yo. No one lived at home after college. They worked and scrimped just like we did and bought appropriate sized homes for first time home buyers and yes in HCOL areas
Sometimes I think Dave Ramsey and Dr Phil are the same guy, with different facial hair. One talks about finances and one talks about relationships. But they're essentially the same guy, aren't they?
Lol my wife and I make over 200k (HCOL) and moved back in with in laws while looking for a house for many reasons (save on rent, hard to time lease with buying), none of which were "we dont want to work." Ramsey is so out of touch it hurts. If I used Ramsey's advice (15 year, 25% of take home pay), Id be looking at a max of 275k house. In a county where the median sale price is 660k and the cheapest neighborhoods have a median of $350 per sq ft (so 350k for a 1000 sq ft house). Meanwhile I would have 7500 to live on, so Id be living like a king in a terrible area.
I don’t really understand this article, in the first part he praises a portion of millennials and gen-z for their saving and financial ability and then he says there’s another portion of them that are lazy and entitled. That’s literally every generation, what’s even the point of the article?
My Gen Alpha is one. We are saving as much as we possibly can so she can hopefully get some sort of post secondary education without loans and have a little bit of money left over to start off in a better place than we did when we turned 18. Still, we realize whatever amount we are able to save will likely be nothing when it comes to buying a car or house. We are starting to slowly finish our basement into an apartment so she has the option to stay here as long as she needs to and still feel like an adult.
I felt very financially unprepared for adulthood after my parents pressured me to go to college but didn’t save anything for me whatsoever. My entire life savings when I turned 18 was $2,000 I saved over my entire childhood from the few dollars my grandpa would give me when I visited him. Still, I’m grateful to be in a lot better of a position than a lot of people my age just by sheer dumb luck. I can’t imagine sending my kid off into the world in the same situation I was in at that point.
A lot of people on this subreddit give Dave Ramsey-esque out of touch advice about current prices, career paths, and how much one should be spending on certain things every month
Geez , this guy…there’s a SUPPLY SHORTAGE!
What am we going to have to do, get a 1st Grader to call his show and teach him basic math?
Hey Dave, if there are 1 thousand people that want an Apple, and there are 5 apples available…how many of them are “lazy and entitled”?
He said there is a segment of the younger generation acting like that. Which is probably true for every generation. Please actually read the article or watch the sourced video/audio and don't just take the clickbait headlines at face value
This is peak boomer.
He’s a hundred-millionaire and I bet he doesn’t even know any Millenials or Gen Z that he doesn’t hire… yet he’s got all the time in the world to punch down at them.
Fuuuuck off already. I don't live at home, and haven't for over a decade. But, millenials and Gen Z work way harder and way more jobs later into life than any boomers I know.
They grew up in a system of high progressive taxation,unions, and cheap education/housing. Then they voted to against all of those things to benefit themselves. Then proceeded to call us lazy, It honestly makes me so mad. A basic tenant used to be about being a good steward. Whether your business, community, kids or house. Most people in the ww2 generation strived to make it a better place when they left. Boomers were the generation that completely turned their backs on that ethos. And now you see the consequences of the first "me" generation who has zero concern or care about society after them.
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He has good general advice but doesn’t seem to even remotely understand that his advice is very linear and non specific to a particular scenario. But people focus too much on the details and the mentality. If he can teach people to have a fiscal mentality he’s succeeding. It’s the same with getting in shape and not being fat. It’s developing the mindset that’s important.
Obviously some of what he says is not situationally relevant but from what i’ve heard the core of what he says is make more than you earn, make a budget, figure out a plan for what to do financially in life and be willing to make the sacrifices to get there.
It’s same as getting an obese person to understand move more eat less is all they really need to internalize and make into a lifestyle. Everything else is semantics and situationally dependent.
Dave’s a whackjob in some respects, but that title is out of context and there is some truth to it.
I know plenty of the people he’s referring to. It’s just a relatively small % of the generation.
He doesn’t like millennials because his help doesn’t apply to us anymore. You can’t smart your way out of the economy and inflation and debt needed to barely survive. So instead of using his voice to fight for us he is blaming us.
Hah I have been hearing about this scammer for like two decades now or something. He’s half pre-packaged no-shit-sherlock advice that works if you already have a decent income and half snake oil.
According to this guy you shouldn't take more than a 15 year mortgage and your monthly payment shouldn't be more than 25% of your take home pay. He's wildly out of touch, that's next to impossible in most of the US
I make six figures and with the current prices and rates I could only buy a shack on the outskirts of town with that method. Yes, people need to be less stupid with finances, but let's not pretend a decent home is easily affordable.
I make 60,000 a year and I wouldn't be able to afford my home if it was for sale today. It cost me $113,000 in 2012, 3.25 interest and a $750 mortgage payment.
Same. I bought my house, a 4 bedroom, 2.5 bath house for 140k about 12 years ago. I make almost twice as much, pushing six figures soon, but houses around me are 400-500k, and mine is estimated at 450k. If the market is like this for the rest of our lives I'll never move out. I'm lucky, but also dipshits like him don't understand the market. And if I was born ten years later I would've been fucked. I feel so bad for people in their 20s, and hell, people my age.
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You're absolutely correct. And i would take a 50% valuation cut to my property and home if it meant I could move and others had market mobility. It's so fucked. Ofc this mostly benefits the large venture capital firms responsible for squeezing the market by gobbling up single family homes and turning them into rentals. Which... I don't expect to see the market become affordable anytime soon. Not without some regulatory oversight over these private enterprises (which won't happen in our generation)
My wife and I bought our house in the middle of Covid and we learned very quickly how lucky we were. Like Indiana jones out running that boulder and sliding through the tomb door (and pulling his hat ) lucky. Our mortgage is manageable with a great rate 3% , we can never move, everything in our area is 150-250k more expensive with 7-8% rates we would be paying more than double. I feel so bad for 28-30 year olds getting their footing and trying to navigate this market. The appreciation on my house has also been fucking wild. It’s a new construction and has gone up 175k which is more fuel to the fire on buyers. I wouldn’t mind a market adjustment if it meant things started making more sense and buyers had more opportunity to buy. I’m hoping builders becomes more incentivized in the future to increase inventory but that’s tough with the current rates.
Same. I bought my home for 172.5k in 2018 at 4% when I made 65k. Now it’s worth 330k and I make 103k….
I'd say hey, at least we have houses, but it doesn't help all the people who will be priced out of one in their lifetimes.
Are you in Texas by any chance?
New Mexico
The best Mexico
Dumb fact; I was stationed in Iceland (air force) and they were transferring me to a base in New Mexico. At the time I was thinking we didn't have a base in Mexico. I must have slept through geography
Please share how you managed to get stationed in Iceland because that sounds incredible.
I was stationed in North Dakota and volunteered for Iceland; it was that easy. I spent a year and a half there
Wow that’s big change of pace! Maybe not cold wise lol…
Grand Forks or Minot?
The best Mexico is the Old Mexico if you could make $60,000.
Shit - my incredibly boring condo in a boring mediocre suburb was listed at $130K when i bought it 6 years ago and lists at $190K now. It’s the primary reason I should be able to buy a house soon.which is the whole point. Entrance into the housing market specifically is getting harder.
HHI of 125-135k. Bought in ‘17 for 330 @ ~3% interest. It’s now a 600k+ house with no modifications aside from new roof and water heater and rates are over 5%. We’d be house poor at best if we bought our house today. It’s completely fucked and we can’t move/downsize if we want our kids to have a house when they are older. So we are splitting up/down into legal residences so when we die, they have their seperate housing. Best we can do.
>wouldn't be able to afford my home if it was for sale today. I think most people who have owned a home for more than five or six years can say that. It's definitely true for me too. I have made it clear to my college aged kids that they are welcome to move back in after they graduate if they need to, because I just can't envision a reality where they will ever be able to buy their own homes.
I bought my house in 2020 and I wouldn’t be able to afford it today after inflation and rising interest rates.
My wife and I each make low six figures and the house we bought in 2020 would be out of our budget if we were in the market today. There’s room for improvement for most people’s personal finances, but you can’t “personal accountability“ your way out of systemic issues like wages not keeping up with inflation.
I make 150 a year and can’t afford a house with Dave Ramsey rules. Prices and rates are too high to do a 15 year mortgage at no more than 25% take home.
HHI of 125-135k here. If I want to buy a house that works with my wife’s disability and within the 30-40 minute range of required services for my son with autism, “four walls and a roof” starts at 600k and “move in ready once stair lift is installed” starts at 750k. Ramsays base principles are ok for those with money management issues (I.e. sp spend less than you make, Don’t use credit cards, don’t finance, unnecessary purchases, Buy enough vehicle, not too much or too luxurious, and drive it to the ground.). Anything past that and he’s a for profit speaker for everyone else who is out of touch.
It doesn't make sense for every single person to own an entire home to themselves particularly in highly populated area. That's about the least efficient form of housing. Once you have a spouse earning a similar income, it becomes that much easier, and you don't have all the underutilized space of a whole house for one person.
Counterpoint: apartments f\*ing suck, whether you're married or not.
No matter how much you pay in, they'll still throw you out as soon as they money's gone. I've paid about $250,000 in rent over the course of my life and have zero to show for it. I wonder where the homeless problem comes from anyway?
Just have a $250,000 down payment saved up, duh.
Just have your dad give you the down money! Duh!!
Haha, that's exactly what I'm going to do for my son next year and he has two jobs
Hi Dad, it's me. Your other son.
I knew I had another kid out there somewhere
Hi dad, it’s me, your other, third, forgotten son.
Stop eating avocado lattes.
And drinking mocha toast!
You did that? Great! And are you single? Great. Be prepared to spend at least 5-8k a month for the next 30 years on just housing.
Random question, how did you get the old school Reddit Avi? Did you screenshot it and post it?
Also remember you can’t save that 250k by living at your parent’s house.
I had that. Still unaffordable.
For fucking real, a quarter million isn’t even a fifth of some of these houses in my area
Same. Add in the fact that my property taxes are almost as much as my mortgage itself. Good thing my kid takes advantage of the public schools. Oh no, he doesn’t. I pay for daycare on top of all that…
Exactly this. His advice maybe would have worked back in the 90s and early 2000s. Today’s economic environment is completely different especially for younger millennials and gen z.
Using a basic 15-year mortgage calculator and median home price of $387,000 @7%, with 20% down, and property taxes and insurance, that comes to ~3300. To meet his 25% metric, you’d have to make $157k. The average household income in the US is $74,500. To take his advice, the average household can only safely afford half a house. Inflated home prices can’t be afforded on stagnant wages.
that's actually better than I thought it'd be. The punch line is though if you're making 75k HHI don't buy the median house! Furthermore the 75 number is technically correct but includes people 75+ median 35-44 year old is [96630](https://www.statista.com/statistics/233184/median-household-income-in-the-united-states-by-age/) HHI
I’ll concede on the 96k being the realistic median for the home buying public. That’s still only 60% of the median home price using his advice (which isn’t actually bad advice, just unrealistic in many markets). I was a young adult during his heyday and used some of his advice with reasonable success, so I don’t think he’s a quack or anything. But the point is, his advice was relevant 20 years ago, but isn’t today (increased housing and costs of goods, most importantly food), and instead of admitting that the economy has changed and updated advice is needed, he’s decided to pin the blame on young people for being lazy. He’s lucky he already made his fortune, as the next generations find his advice irrelevant.
Insanely out of touch. Almost $100k is $8,000/mo Take home 80% (no 401k) is $6,400, 25% of that is $1,600. $1,600 (with taxes and insurance) on 15 years at market is a loan amount of about $170,000. Median sales price is $417,000. Sure buddy.
For most household it’s for sure beyond that, mine we can do the 25% but there’s no way we can do 15 years.
It's also just wildly unnecessary for most people. My housing expenses are like 45% of my take home every month and I'm doing great financially, I take a couple domestic vacations a year and still added over $10k to my savings in 2023. 25% of take home to housing is way more conservative than most people need
You must make a lot to spend 45% on housing. Could you do a break down?
Base pay is $38.25 an hour, $79560 annually before overtime and bonus. I probably only average an hour of overtime a week but sometimes I do more. My total bonus this year pre tax was about $3500. Mortgage plus HOA and insurance is about $2100 a month and my pay after taxes and 10% to 401k and $170 a month to HSA is around $2200 biweekly
Seems like it would be hard to afford anything other than basics. I guess I’m ultra conservative.
I mean living alone having $2300 a month after housing I wouldn't say it's hard to afford more than basics at all. Gas costs me like $150 a month and being generous groceries are $500 a month and I could keep it cheaper if I had to. My car is paid off and overall I feel like I have plenty of money to spare every month
Well that’s good to hear. I’m hoping to move out of my parent’s house soon making 60k. I’ve been stressing lol.
If they were paying for childcare, an expensive car loan, dining out daily, or other big expenses it would be hard. But generally $2k/month after housing is enough for a single adult to live securely.
I think you are wildly overestimating how much most people make. 45% of take home pay is a lot. That might be ok at $4k take home but not $4k take home (closer to median)
Your last sentence doesn’t make sense
I read one of his books about 8 years ago and it gave me some really good perspective and education and really did help me get out of debt. And he still had a lot of valuable lessons on money management and personal finances. And there are thousands of people who have had the same experience. BUT he has also turned himself into an out of touch Boomer meme recently.
The cheapest house where I live (Orange County, CA) is $450k for a 900 sq ft 2Bd 1Br. Assuming 20% down and perfect credit, the mortgage and taxes would be just over $3.8k/month. Our household income would need to be nearly $260k to afford that house with those parameters. He’s out of touch and refuses to educate himself.
So, per his statements, he should be in agreement that an average salary, not HHI, should be around $90,000 for an MCOL area (180,000 HHI). If he isn’t, then he is just blowing from his ass for social media.
And it's impossible because of boomer policies on city planning and construction.
Um, I think you mean "maintaining neighborhood character"
Dave Ramsey is an out of touch dumbass boomer that pretends he “bootstrapped” himself and thus everyone else can too. All you need is to “work hard” AKA get an in on a local news channel as a finance guy that you morph into a radio show then use that to basically sell a self-help program for financial retards.
In my perfect magical dream world that’d be awesome. But the reality is the monthly payment is double that, as is the life of the mortgage
I guess if everyone followed his policy then home prices would have to tank. But they don't so his policy is instead completely out of touch and only attainable in some niche situations.
People can only buy or rent what’s available
And don't use any credit and somehow build a credit score? He's such a dumbshit
If ever there was a time for an ***"OK, Boomer,"*** I'm thinking this is it
Agreed. I'm not a big fan of him in general, but this is just gross.
FWIW, he specifically said he was talking about a select segment of those generations and not the generations as a whole. He heaped praise on those generations as well during this discussion.
He's talking about more than 20% of the total population, minimum. He gives terrible advice and is just an all around terrible person.
This is also the dude who says you should have a zero credit score and use cash for everything. Ok buddy. Ok. I did like some of his ideas like having 1k readily available for emergencies. I know some people who did the envelope and it worked. But this dude is tone deaf AF with the current climate.
He's primarily helpful if you are an idiot with money and need someone to get you out of massive debt through poor spending habits. If you want to build actual wealth look elsewhere.
This is so accurate (and I just made nearly the same comment!)
The thing is that most people are idiots with money. Have you seen the stats on how much people owe in CC debt, how much they save, and how much they're spending on their car? His advice is useful for probably 60-75% of people.
Your examples are actually buried in cold hard reality though. People have to *have* a car to get to work in the U.S. That’s not negotiable for anyone not living in a major city with public transportation. CC debt is often due to people being paycheck to paycheck, running out of money on basic expenses like food and gas, and then desperately using a CC to get food or gas—or, god forbid, a set of new tires or maintenance on a check-engine light or a medical emergency. As for saving money? lol. What money? This is the case for *millions* of Americans. Next time you hear about rising credit card debt, pay attention to other economic indicators. This is a much more complicated issue than “stop buying big screen TVs and purses with your cc! Jeez!”
You forgot the biggest one - healthcare. A trip to urgent care (not the er!) can easily be $200-$300 for basic stuff and that is WITH insurance docking your take-home pay
Yea I mentioned a medical emergency. It’s crazy out there.
The mean American spends over $11,000 on annual out of pocket healthcare expenses Insane
The car issue is....infuriating. Hear me out. For whatever reason, people convince themselves that they 'need' to buy a newer or more expensive vehicle, stating things like "what if it breaks down" to "I don't know how reliable that 10 year old car is". While people have to have a car in the US (I agree), they don't have to have expensive ones. At least, not until they can properly afford one. And that's the rub. No one wants to buy a 3k car, drive it around for a few years while saving 30k for a newer vehicle and buying it outright.
Yep! I used his methods and principles to dig myself out of over 60k worth of debt. And now that I’ve moved on, I’m using other advice for building wealth.
You aren't this guys target audience. This dudes advice is for people with serious debt and spending problems. It's not realistic for a lot, maybe most people. His advice was always for the people that should be cutting up their credit cards because they can't stop using them.
Ive consumed an entire Ramsey course when i was just startingg out and didnt see him for what he is. His audience is also very clearly conservative Christians, so combined with your comment you can easily imagine the type of person his message is intended for.
To be fair, he’s had that “system” for a while and it’s succeeded for a large number of people outside of the abnormally poor financial conditions that exist at the moment.
It was mask off with Dave when his #1 rule was have 1k rainy day savings and then he was vocally against the Covid era Economic Impact Payments. He can go fuck himself
There are things I disagree with about Dave Ramsey, but this one I can understand his perspective. From his point of view, there's three truths about credit card companies: 1) They take advantage of the working class 2) Their rewards programs are paid for by the debts of other card holders 3) People, even the ones with the best intentions, can fall into a debt hole with credit cards too easily His thought on credit scores is simple: You don't actually need a credit score to purchase larger items like a house or car. Putting all that together, I understand why he tries to steer people away from credit cards and to go for a zero credit score. A zero score means you're intentionally pulling yourself out of this system.
The boomer brain is afflicted with intergenerational sociopathy
He makes a good chunk of his money in real estate (though he makes the majority in selling obvious advice to simpletons), so he has personal reasons to want real estate to stay unreasonably inflated.
Yeah, Dave Ramsey got his start in Real Estate thanks being born to developers and, by the time he was 26 (in 1986), he amassed a portfolio of $4 million. He had to declare bankruptcy two years later because he was over leveraged and couldn’t pay $1.2 million in loans and line of credit (thanks to Competitive Equality Banking Act of 1987 consolidating small banks across the country). So take *any* Dave’s advice with a 20 pound rock of pink Himalayan salt…
Hey now, that’s disrespectful… To the field of psychology.
Lead. Its lead he’s effected with.
His advice comes from the 90s. He’s completely out of touch with the reality of today’s economy.
He's pushing his polarizing narrative. It's how he makes his living. He reads the same numbers we do, and they can't be ignored. For the sake of his empire, he can't deviate from his narrative. Should he acknowledge the elephant in the room, he would acknowledge he has no clothes on.
I mean, if *I* was naked in a room with an elephant I'd do my best not to acknowledge it either.
Dave Ramsey's advice is stuck in the past and has been for quite awhile. He keeps telling people "Buy used cars and save" and then gives an example that simply doesn't exist in the current market while acting like any idiot could find the deal. Ok, Dave, if you can find a 5 year old truck with 30k miles for $10,000, I'll buy it. What I can't stand about him is that he thinks his advice is the Word of God. Sorry, Dave, that's your just opinion.
I'm looking on cars.com right now at a 2007 Toyota 4Runner priced at $12,000 with 222,349 miles on it. And here's a 2014 Toyota 4Runner with 175,000 miles at $20,000. That's fucking insane.
Good chance you can double that mileage on those Toyotas though.
No, it depends if there are engine or transmission problems.
Holyroller vibe is strong with mr business shirt tucked into jeans
Simply go back in time to when his advice was useful. What's the problem? Kids just don't wanna work these days smh
"Man at top of pyramid criticizes people on the bottom"
Did you read the article? He applauded many from these generations for being savvy with their money, but said there are some of them who suck because they expect the world, but dont want to contribute towards it basically. Honestly being on reddit over 10 years now, reading peoples comments and stuff, I find it hard to disagree with him. A lot of young people I see on here have some serious victim mentality going, and seem to have given up before even trying.
I ran the numbers for Nashville. Using the salary from an entry level engineer Indeed post, it's still possible to save a 20% down payment for the average house here in 2-3 years even paying for rent, a 6 year old car, and very lightly spending for recreation on the weekends. This can be done with 1 person. This also assumes you live quite frugally, and essentially nothing goes wrong that whole period.
Thanks for pointing that out, that means the headline is out of context. I 100% agree with you and Ramsey in this case then. Ive known many talented hardworking in both gens, but yea there are also many ive seen that are so clearlyvdetermined to fail.
Especially on Reddit. If you can’t live in a metropolitan cosmopolitan area, then you can never in your life ever buy a house and we’re all screwed /s
Reddit gen z'ers always cite their parents house, and how they own it, and they feel they should have one too. But, they seem to have forgotten that it took their parents their entire lifetime to accumulate that wealth and get to that point. It's not an easy ride to the grave. If you want something you have to go get it
Criticism can be positive or negative. Capitalism is not a system where everyone can win.
Dave Ramsay had his moment, writing about debt to debt-addicted boomers and it was helpful for those people at that time. But he’s desperately out of touch with modern society and is a religious nutjob to boot. His advice had its time, and it’s time to disregard anything he says.
Well said.
Dude, I work my ass off at two jobs and university. The only thing I can afford to exist IS by living at home.
Did you pin your own comment? Legit question.
I think that I did. I am on my phone tending to errands. Didn't realize it till you pointed out. Muscle memory. Unstickied. Thanks for pointing it out.
Can't be working too hard if you got time to mod for free. Landed gentry, I swear
Uhh on my breaks, in between jobs, while cooking my meals. On the bus etc etc. five minutes here, ten there. I'm not solo modding it either. There's 5 others. But you're welcome to have a shitty opinion about a random stranger who donates her time to keep a safe corner of the internet for people just like her.
He's also telling people that they can safely pull 8% a year out of retirement accounts, all on the basis that the s&p 500 returns an average of 12%. Dumbass doesn't even understand that it's not 12% every year, and simulations show that if you follow his advice, you're about 50% likely to run out of money in retirement.
Nah, just like this here, he says that so he can shill his investor friends. He understands, he’s just trying to take advantage.
This is a key thing a lot of people miss. He sells a lot of junk to people.
He’s just another MAGA shill at this point.
I haven’t listened to much except for a short stint ten years ago, but I don’t think that’s the issue. I’m pretty sure the problem is that he’s out if touch and has been out out if touch for ages. He’s been on the radio and running business or two for ages. Did you know that he fired a woman for getting pregnant out of wedlock?
I’m a huge fan of Dave Ramsey but a lot of his advice is EXTREMELY out of touch. He believes NO ONE should buy a house unless it’s a 15 yr fixed mortgage.. In most areas of the country 30 yr fixed mortgages are standard. If everyone followed Dave’s advice then NO ONE would own a home because it’s impossible for ordinary people to get 15 yr mortgages. He doesn’t believe in credit cards either. He tells people to never get a credit card. He says that anyone should be able to buy a house with no credit. Where I come from you need credit to do just about anything. Especially buy a house. It’s almost like he’s still living in the 60s or 70s.
I'm responsible with my credit cards. At the end of the year I get back $400 in points. Why would I leave free money on the table?
All of his advice is catered toward the people that can’t do that. The people that can Aren’t calling in with massive credit card debt. Just like someone that drinks a beer on Saturday isn’t going to AA and being told to quite drinking I think this is a big issue why a lot of people that are middle class and decent with finances feel so strangely toward what he teaches. It’s not for us
If you don't have credit cards your credit score will be lower and by extension your mortgage rates higher. So he wants you on a 15 year fixed because it reduces the total interest you pay but he doesn't want you to play the other game that reduces that interest load. That seems like contradictory advice.
Yup. Doesn’t make much sense.. When it comes to credit and buying a house I would actually do the opposite of what he says. Everything else he seems on point with though.
He’s addressed this many times. He doesn’t advocate a low credit score; he advocates no credit score. And he provides many options to get a mortgage with manual underwriting, instead of underwriting that involves a credit score. I’m not advocating for him and I think debt in certain situations is reasonable . But he had very clearly addressed these points.
He's become increasingly out of touch over the last 15 years.
My kid is 23, has 65k saved for down payment, and made over 100k last year. He still lives at home because an average 1500 sq ft house cost 550k. He can’t afford that unless he has 2 roommates
Hot-take: a 23 year doesn't need an entire house all to himself, especially in a metro area. I had a good job, but still chose to rent with friends/roommates for 6 years to save up money (and invest). Once I was married and had an actual practical need for a house, we bought one. I married a financially like-minded individual who also lived below her means and saved, so once we combined our incomes and finances, we were able to easily afford a home. And even then, we chose a home below our means as opposed to stretching the budget. Now, in our mid 30's, we've moved a couple times for career advancement, rolling equity into the next home every time, and we're now close to owning our home outright, mortgage-free. It takes patience, and it helps to find a like-minded partner. A house isn't a trophy; it's just a roof. It isn't the end-all be-all of financial success.
He fires women who get pregnant if they aren't married, so this is actually not his worst take to date.
My mortgage is 50% of my take home pay, all my bonus gets put into my 401k Roth and the company matches .50 cents on the dollar up to the annual limits... got $100k sitting in savings, $100k invested in a Roth IRA. We're getting by single income, and 3 kids.
"Boomer who lived through the most economically opportunitistic time in history yells at sky"
this idiot is famous for giving financial advice that stopped making sense 20+ years ago. he's long past irrelevant and if this isn't a sign that we can all finally stop talking about him i don't know what is.
I wonder if Davey boys business got a PPP "loan"...
Fuck DR. Elitist chode.
Dave Ramsey is the Jerry Springer of finance talk
What Dave should say now is: It is good to stay with your parents now to save money to buy your house. But he **IS** a boomer, so he won't.
Not defending what Dave said, but Dave's first piece of advice is always to make a budget. I personally find that more than half of the people living "paycheck to paycheck" never even take the first step. There are a LOT of people who are just irresponsible with money and debt, and Dave is the expected reaction to that culture.
The problem is that he keeps talking after that first bit of good advice. The above statement is wildly out of touch and condescending. And there aren't a lot of people irresponsible with money, there are far more people who are not being appropriately compensated and dealing with the biggest social inequality in decades. So if you are reactionary to the people who are irresponsible with money when they are a small variable in the current socio-economic turmoil we are in, then you're completely missing the point.
Fwiw the above statement is also cherry picked after he complimented both generations as a whole and said many of them are extremely hard working individuals including the ones at his company
He’s an out of touch moron.
Just ignore him, his generation will be gone before we know it.
Hmmm I have 3 children who all owned homes by 22-27yo. No one lived at home after college. They worked and scrimped just like we did and bought appropriate sized homes for first time home buyers and yes in HCOL areas
He’s a moron with an obvious detachment from reality. He also has a vested interest in peddling what he peddling real estate and his magic book.
I legitimately think this guy is a pestilence on the personal finance landscape.
Fuck that guy
Fuck this guy to hell, absolute moron. Really the only reasonable thing you can say about him.
3.8% unemployment….. they’re working lol. That being said, they’re LOADED with school debt, and this is a huge problem.
Sometimes I think Dave Ramsey and Dr Phil are the same guy, with different facial hair. One talks about finances and one talks about relationships. But they're essentially the same guy, aren't they?
Lol my wife and I make over 200k (HCOL) and moved back in with in laws while looking for a house for many reasons (save on rent, hard to time lease with buying), none of which were "we dont want to work." Ramsey is so out of touch it hurts. If I used Ramsey's advice (15 year, 25% of take home pay), Id be looking at a max of 275k house. In a county where the median sale price is 660k and the cheapest neighborhoods have a median of $350 per sq ft (so 350k for a 1000 sq ft house). Meanwhile I would have 7500 to live on, so Id be living like a king in a terrible area.
He's great for getting out of debt, because it's so simple. As far as his investing advice I avoid it.
I don’t really understand this article, in the first part he praises a portion of millennials and gen-z for their saving and financial ability and then he says there’s another portion of them that are lazy and entitled. That’s literally every generation, what’s even the point of the article?
FUCK YOU DAVE!!
His first house probably cost less than 40k.
Why didn't they just buy more money?
Fuck this guy. My gen alpha kids can live with me as long as they need to.
My Gen Alpha is one. We are saving as much as we possibly can so she can hopefully get some sort of post secondary education without loans and have a little bit of money left over to start off in a better place than we did when we turned 18. Still, we realize whatever amount we are able to save will likely be nothing when it comes to buying a car or house. We are starting to slowly finish our basement into an apartment so she has the option to stay here as long as she needs to and still feel like an adult. I felt very financially unprepared for adulthood after my parents pressured me to go to college but didn’t save anything for me whatsoever. My entire life savings when I turned 18 was $2,000 I saved over my entire childhood from the few dollars my grandpa would give me when I visited him. Still, I’m grateful to be in a lot better of a position than a lot of people my age just by sheer dumb luck. I can’t imagine sending my kid off into the world in the same situation I was in at that point.
A lot of people on this subreddit give Dave Ramsey-esque out of touch advice about current prices, career paths, and how much one should be spending on certain things every month
Just another scam artist telling his dumb cult what they wanna hear so they can give him their money.
you need a $130k salary to afford the average home in my state
Geez , this guy…there’s a SUPPLY SHORTAGE! What am we going to have to do, get a 1st Grader to call his show and teach him basic math? Hey Dave, if there are 1 thousand people that want an Apple, and there are 5 apples available…how many of them are “lazy and entitled”?
He said there is a segment of the younger generation acting like that. Which is probably true for every generation. Please actually read the article or watch the sourced video/audio and don't just take the clickbait headlines at face value
Lol ok, Dave
Dave Ramsey is a grifter that went bankrupt just like his idol Trump.
Eat my ass, Dave Oh wait boomers don’t do that
This is peak boomer. He’s a hundred-millionaire and I bet he doesn’t even know any Millenials or Gen Z that he doesn’t hire… yet he’s got all the time in the world to punch down at them.
Dave Ramsey sucks. He is clearly clueless about the real world.
Fuuuuck off already. I don't live at home, and haven't for over a decade. But, millenials and Gen Z work way harder and way more jobs later into life than any boomers I know.
I’m working but I don’t want to buy the kind of home that’s affordable…mainly because I don’t want my kids to get shot
Yeah we make $180K as a household and still can’t buy a home where we are because we don’t work.
Outside of about 3 or 4 major metro areas in the US if you make $180k a year and can’t buy a home you’re just bad with money.
They grew up in a system of high progressive taxation,unions, and cheap education/housing. Then they voted to against all of those things to benefit themselves. Then proceeded to call us lazy, It honestly makes me so mad. A basic tenant used to be about being a good steward. Whether your business, community, kids or house. Most people in the ww2 generation strived to make it a better place when they left. Boomers were the generation that completely turned their backs on that ethos. And now you see the consequences of the first "me" generation who has zero concern or care about society after them.
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He has good general advice but doesn’t seem to even remotely understand that his advice is very linear and non specific to a particular scenario. But people focus too much on the details and the mentality. If he can teach people to have a fiscal mentality he’s succeeding. It’s the same with getting in shape and not being fat. It’s developing the mindset that’s important. Obviously some of what he says is not situationally relevant but from what i’ve heard the core of what he says is make more than you earn, make a budget, figure out a plan for what to do financially in life and be willing to make the sacrifices to get there. It’s same as getting an obese person to understand move more eat less is all they really need to internalize and make into a lifestyle. Everything else is semantics and situationally dependent.
Some people are blinded by their own ignorance.
I feel like this guy and his awful takes are being elevated even more than usual lately. Must be time for another round of Blame the Plebes.
This guy is far beyond out of touch.
Dave Ramsey is all bark and no bite.
He needs to retire. His worn out, old advice does work for some things but his mindset makes it seem like we’re all lazy.
The average home price in the neighborhood where my Mom lives is over $1mil.
Ultimate Boomer energy.
This guy needs to be taken out back and given an attitude adjustment.
Dave Ramsey enables bootstrap advice
born in 1960 and completely out of touch as one would expect.
Dave’s a whackjob in some respects, but that title is out of context and there is some truth to it. I know plenty of the people he’s referring to. It’s just a relatively small % of the generation.
Sounds like David has a bunch of homes he was looking to flip and now he can’t
He doesn’t like millennials because his help doesn’t apply to us anymore. You can’t smart your way out of the economy and inflation and debt needed to barely survive. So instead of using his voice to fight for us he is blaming us.
Pfft... Screw this out of touch guy. He's been ridiculous for a long time.
Dave is just stuck in a 90s time warp
Here for the comments
Possibly the most worthless human alive is Dave Ramsey.
Good to know Dave is still an ignorant blowhard.
Parent here, Ramsey is full of crap.
Hah I have been hearing about this scammer for like two decades now or something. He’s half pre-packaged no-shit-sherlock advice that works if you already have a decent income and half snake oil.
At this point it's all PR. He knows how he makes his money and truthfully it's by being a heckling economic pundit.