(Complete Show Notes Below)
In the 42nd episode of the Financial Procast:
Dave Ramsey Gets In a Twitter Fight
Yes, you right that right! It seems that about two weeks ago, some of the Financial Planning community Illumnati called into question some of Dave Ramsey's “rule of thumb” advice. In response, Dave didn't take to kindly to what was being said so he lashed out with some inflammatory language himself:
Now, who knows if Dave Ramsey actually writes his own tweets…many public figures and celebrity-types pay other people to do such things. But either way he is responsible for it.
What do we think of the whole exchange?
Well, we turn your attention to an article published over at Forbes where journalist Tim Maurer has written a piece in response to the spat. I tend to agree with the article—mostly. What do I mean by that? Well, I think that part of what all the people involved say is true, however, none of them have all the right answers or advice. Michael Kitces, Carolyn McClanahan, and Carl Richards are all somewhat famous financial gurus in their own right but picking a fight with Dave Ramsey on Twitter isn't likely to gain you any credibility…is it?
I don't think so.
Now, Mr. Maurer has come up with a list of “unifying financial planning principles” all on his own and he's asking other financial planners to “sign on” to these. Hmmmm…..
To save you the trouble of trying to read through each one, listen to the podcast and hear what we have to say about each one.