It’s no secret that many financial professionals don’t agree with much of the advice Dave Ramsey gives. This is because his financial assumptions are often false. Yes, he’s entertaining, but truly helpful … not always.
About a year and a half ago, Ramsey used Twitter to lash out at several financial professionals who had been chastising his investing advice. He tweeted:
“@ScottTruhlar @BasonAsset @behaviorgap @CarolynMcC// I help more people in 10 min. than all of you combined in your ENTIRE lives #stophating
— Dave Ramsey (@DaveRamsey) June 1, 2013
These comments strike me to the core. Many financial professionals help more people in the course of their career than Dave Ramsey ever will. So this column is for you, the thousands of financial professionals who strap on your boots (boots sounds tougher than nice leather oxford shoes), and spend their days, nights, sometimes their weekends helping everyday Americans struggling with poor spending and savings habits. Every month, I will dissect a piece of Ramsey’s financial advice and hold him accountable to providing sound financial principals instead of idealistic fallacies. If the pen is actually mightier than the sword, then, Sir Dave, I challenge you to a duel of math and wit.