You're Wrong, Dave Ramsey. Debt is NOT Dumb

We've all heard the line "Debt is dumb!" over and over again by the man who has taught millions of financially illiterate people to stop being stupid with their finances.

But what if, despite all the propaganda to the contrary, debt isn't as scary as pundits like Dave Ramsey and Suze Orman make it out to be?

Dave Ramsey speaks of debt like progressives speak of all the "scary" guns roaming the streets like packs of rabid wolves. Like it is some scary monster to be feared and avoided at all costs, lest it viciously jumps out and attacks you when you least expect it.

Like firearms, in the hands of the wrong person, debt can absolutely kill you. But, if you are properly trained and educated and have a healthy respect for debt, it can be the greatest tool in your arsenal towards achieving MASSIVE wealth and prosperity.

What all the debt free advocates fail to tell their customers is that nobody will EVER be debt free! You have a "free and clear" house? Try not paying taxes and see how long it takes before you lose your house at a tax deed auction. Have a million dollars in your bank account? You just lost 5% last year on inflation (and that's actually an extremely low estimate). Looking forward to taking distributions from your 401k or IRA soon? What happens when you hit mandatory distribution age and the stock market crashes? Uncle Sam MAKES you take distributions whether you want to or not!!!

I'm not saying that Dave Ramsey's advice is not good. What I am saying is that his advice fails to paint the whole financial picture. I totally understand why he does this though. He is speaking to financially illiterate people who can't keep their finances in order. I get it, guys because I was one of those people just 6 years ago!

See my $3 to $3 Million video here: https://youtu.be/vl8Hwr59ObA

You can't talk differential equations to a kindergartner, and you can't talk advanced financial strategy to someone who can't stop spending their money on dumb stuff.

Financial Peace University is a great foundational stepping stone towards realizing you have a problem, and getting yourself to stop digging a financial hole. But you have to move past that!!! You have to move past being a kindergartner and learn higher level financial strategies and concepts. That's how you grow!

Please do not think I am speaking ill of Dave Ramsey or any of his students. We all have to start somewhere, and FPU is a great place to start. However, if you stay at that level of financial IQ for the rest of your lives, you will never achieve your full financial potential. To me, Dave Ramsey would and should commend you to do so, because achieving massive wealth will allow you to do the very thing his entire program is based on:

"Live like no one else, so you can LIVE and GIVE like no one else!"