The Wall Street Journal
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Young adults are seeing a lot of financial-advice TikToks from conservative radio host Dave Ramsey, and they’re not having it https://on.wsj.com/4bCRqAd
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Logan Miller
Sales
5d
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After reading the article. The perspective from Millenials and Gen Z is that they are more interested in the “here & now,” more so than a more prosperous future. The same sentiment we have observed from those generations that those 2 groups of people are more self centered than the generations preceding them. Heaven forbid they can’t drive a new car or have to eat a simple meal at home as opposed to a fine dining experience out in the town. As stated by many already, Dave promotes a lifestyle that requires discipline in the present so as to prosper the future. Like anyone in a public space, few would agree wholeheartedly with the public figure, but the essentials of his instruction have benefitted many and helped families get out of debt so as to provide a better life as the move forward. Dave, being a Christian, teaches tithing as the Bible teaches and ultimately that is the best financial advice anyone can be given. Everything belongs to God and He is allowing us to steward money, assets, and possessions. How we steward them truly affects our ability to be open to God’s blessings (financial or maybe otherwise)or possibly miss out on them.
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John Rodack III Esq.
Attorney at Spesia & Taylor Juris Doctor from DePaul University College of Law • National Trial Team Regional Champion
5d
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If someone starts actually listening to Dave Ramsey at 18 and actually follows his advice, they will retire a millionaire and leave their children a nice chunk of change.
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Patrick Saah
Active Job-seeker.
5d
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Dave Ramsey is wrong because he sometimes says that at least 80% of people who earn at least $1 million yearly are self-made. The reality is that the majority of people who earn at least $1 million yearly, inherited their wealth. It is statistically rarest to meet a person who rose from financial poverty with no money to earn at least $1 million yearly.
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Betty Guy
Founder & President | Coaching you on your entrepreneurial journey. Teaching you how to use AI-powered tools. Translating your videos in French to expand your territory.
3d
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I read the article and I shook my head in disbelief. I don't understand why would anyone in America spend their time criticizing Dave Ramsey. Yes, it's possible to get out of debt in America. Yes, it's possible to live within your means and below your means. Yes, it's possible to complete your education without hundreds of thousands of dollars in debt. Yes, it's possible to take out a 15-year fixed-rate mortgage with payments of no more than 25% of your take-home pay. Yes, it's possible to pay off your house in 6 1/2 -10 years. I did all of these things. And I spoke English with a French accent. 😂😂 So, I am here in Martinique, my home country, reading this article and I can't stop scratching my head wondering what is happening to the young people in America these days! 😂😂 The other question I have for these young folks is why aren't you guys earning $100000 and more? That I also did when I was in the U.S. and I had at my disposal maybe 10% of the tools and the knowledge they have access to these days with AI, and all of that. My message to these kids: stop complaining. Follow Dave's principles. Get to work. Go earn those big bucks. Get out of debt and become baby-steps millionaires. Yes, you can!
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Charles B.
5d
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I've written many posts on Ramsey Solutions and recommend not to be confused by Dave Ramsey's hypocrisy. 🤔 I don't like when he lies to people because I'm a Bible-believing Christian who believes in being open, honest, and transparent with others. Ramsey is more of a preacher than a financial planner. I understand that preaching the poverty mindset is his shtick, but it only works for low-income, blue-collar workers. Attached is a picture of me after Easter mass in Las Vegas when I was poor in my twenties. Ramsey doesn't live by the rules of "Financial Peace University." I believe it's better to live like Dave Ramsey than to follow his guidance blindly like rats following the Pied Piper of Hamelin. I recently wrote a LinkedIn article on the strict requirements of millennial style and plan to elaborate on what we millennials require with bespoke tailoring. One can look dignified while building a career. My suit and double-breasted waistcoat were custom-made to my requirements. My shirt and tie are Thomas Pink of Jermyn Street, St. James's, London. Fred Astaire inspired my Easter style in the 1948 musical Easter Parade.
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Hammed Qasim
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Thanks
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Tony Escobar
“Personal CFO” >> I create financial plans for mission minded entrepreneurs who want to achieve financial fulfillment on their own timeline
4d
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Dave is probably the most influential voice holding over from the Boomer / Gen X financial experience. Millenials and Gen Z are their kids. Here’s what they have seen their parents go through and what they themselves are now experiencing:-Global financial crisis-Covid-Inflation-Student loan debt crisis-Spiking housing prices-No more such thing as pensions-Political comedy-Rise of digital assets-Easier access to “success” via social media-EtcTo assume that Millennials and Gen Z are self-centered and careless about the future is too simplistic and not a fair assessment. The future looks different for them because the rules and systems of their parents are going to be a lot different. And what they have “inherited” is a lot different. That’s why I think M’s and Gen Z’s are actually yearning for a return to what I’d say is a more innate impulse of building cash flowing assets. ie, Right now assets that allow you to live a life that you don’t have to worry about retiring from. I’m not exactly Millennial or Gen Z, but I can get behind that movement. But I don’t think Dave is necessarily taking them there.
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Philip H. Greger Jr. MD MBA MLS FACS
Professional Cross-Functional Executive
5d
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Like most things, take it for what it's worth. His advice is certainly a good thing for a percentage of the population. The headline is misleading, as expected. Managing debt is both an art and a science, or think of debt as booze, just the right amount, and it is a "high-high;" too much, and you gonna pay for it.
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Daniel Beane
Territory Sales Manager, Cheyenne Intl.LLC - Building brand awareness and growing volume in central North Carolina
5d
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Dave is right. You must go through hard times when you start out . If you want to start out good times like when you lived when mom and dad paid for everything then be in debt and struggle forever. Live within your means build savings avoid debt and you will be better off later. It’s hard starting out for sure.
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