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Money Guy Show

Deep Dive on Dave Ramsey's Investment Advice! (Financial Advisors React)

Money Guy Show

Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors

Education, Investing, Business

4.73.1K Ratings

🗓️ 7 August 2020

⏱️ 44 minutes

🧾️ Download transcript

Summary

Dave Ramsey is the best resources for getting out of debt. He has done incredible good for the financial world and millions of people across America. But there is one element of Dave's advice that deserves a closer look. How effective is Ramsey Solutions' investment advice? Let's do a deep dive on why it might not be as prudent as you think - and how to fix it! This was a highly requested episode! We hope it's helpful and inspiring. For more information, visit: https://www.moneyguy.com/2020/08/dave-ramseys-investment-advice/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

You asked for it a deep dive into Dave Ramsey's investment advice.

0:04.8

It's Brian Preston, the money guy, restoring order to your financial chaos, retirement,

0:11.7

investing, taxing.

0:13.6

You've got financial questions, he's got financial answers.

0:17.2

It's Brian Preston, the money guy.

0:20.7

Yeah, Brian, so this one is going to be kind of interesting. We sort of asked the audience out,

0:24.6

they're, hey, you know, we've talked about Dave Ramsey's investment advice in the past.

0:29.1

Would you be interested if we did a bit of a deeper dive? What are some things that are good?

0:33.3

What are some things that maybe aren't so good? And what's our take on it? And there was a

0:38.0

resounding yes from the audience that they wanted to hear it. So here we are to share our thoughts.

0:44.0

I feel like we need to lay out some ground rules though. I mean, we do live in Franklin, Tennessee.

0:48.6

And we're kind of in the backyard of the big dog himself, Dave Ramsey. And here's the thing,

0:53.0

you can't live in our parts and not have neighbors, people that you go to church with.

0:59.6

You know, there's a lot of, you know, of Ramsey solutions that are all in the community. And by the

1:05.6

way, if you were here, thinking you're a, see a show where Ramsey solutions or Dave Ramsey is

1:11.1

trashed, you're in the wrong place. And actually, we have tremendous respect for Dave. And I think if

1:15.6

you even as we poke holes in some things that I think that Dave is going to stray on and you

1:20.6

can improve upon, there is no doubt that Dave has done more good to the financial world than anything

1:28.4

else. Yeah. If we just wanted to kind of look at some of this quick accomplishments, he has over

1:32.8

14 million listeners to his weekly radio show. He sold over 11 million books. He has this says,

1:41.0

this is from the website over 800 team members. I know that just because I have some friends over there,

1:45.1

it's like 950 employees. I think about like how many lives is impacting this one.

...

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