Why Dave Ramsey's baby steps SUCK!

Look. Dave Ramsey is great for getting out of debt, but he's a disaster once it comes to building true wealth and investing correctly. He'll kill your returns with his unnecessarily greedy fees. No offense Dave.

[LionOfJudah]

He has helped millions get out of debt. How many have gotten out of debt using your system?

[richiefingers]

Only 2, 3 months emergency fund? We just got out of a 2 year lock down 😆

[OTBkid]

Your advice is why I've never heard heard of you

[fordresurrectionest]

The bank can only charge you interest on money you owe. If you pay off your mortgage, guess what you stop paying interest. 😅

[quantumedits]

So your baby steps are as follows
1. Save no money I assume
2. Gain more debt because you lose more money if you pay it
3. Save 3 months of expenses (which is technically 3-6 months nit sure why Dave is wrong then)
4. don’t pay off your house because why would you want to own a house when a house can just own you
5. Save 100 percent to retirement because why not
6. Don’t send your kids to school and put that money in something worth while like single companies like apple.

There is a reason Dave’s steps work, and when people get tired of being in debt thanks to your advice Dave will be there waiting for them so they can actually do something that will benefit their legacy. Delete this trash

[Coffeendonuts]

Making videos from your phone trying to discredit a guy with a 300 million dollar net worth. Lol

[samuelrocha]

there's no way in any life I would have saved money if I let the bank collect interest from me for years. debt is not a tool, banks never lose money; you do

[crow-vzlx]

Who the hell would only have a 2 month emergency fund. ???

[Churros]

15% not enough?Maxing out?I don’t think you realize how difficult it is for some people to invest even 15% of their earnings. 15% is the minimum, but obviously if you can invest more, please do. It’s just not everybody had that luxury. 15% is more than most Americans do anyway.

[ryangray]

“Only need 2 or 3 months” lost you all credibility

[neilm]

Please explain how you lose money in the long run by paying off your mortgage? One would think that the less time you spend paying interest, the less money you lose in the long run.
I bought a house last fall and ALL of the interest is loaded at the start. I pay $1008 every two weeks and barely $460 comes off the principal. (Yes, property tax is included)
But I’m not interested in paying interest for 23 years when I can be rid of it in 12.
Please explain.

[TheMomanslm]

This is the ishiest ish I've heard.

[sasukesuite]

"You only need 2-3 months emergency fund"
Me, a government contractor whose contract expires every year: 👁👄👁

[billbeard]

I am not aware of Dave Ramsey selling mutual funds. I’ve never heard him address the issue of buying loaded funds, but I would agree they are a bad idea.

[Brianmatthewward]

Yeah, why make interest off every dollar instead of paying 5% to somebody for the pleasure of simply paying more money for something that I don’t have to? Let me know when this works for 10 million people, random guy on the internet.

[jeetpatel]

2-3 months is enough??? Was this guy under a rock during the pandemic?

[outof_obscurity]

Dave: get 3-6 months of expenses saved
You: that's too big you only need 3 months. 🤦🏻‍♂️

What? 😂😂😂😂😂

[tonobaker]

What about the first 3 baby steps. Those are good for getting people from 0 to something right?

[martab]

How can you loose money paying off your mortgage??? Explain your logic

[benny]

nah, we'll stick with Dave's steps