Ramsey on 1160 2/26/12

[del_griffith]

Well, i've decided to check all of this out for you....

We'll find out.

Thanks.

I know priorities change or things don't remain top of mind. Any update?

 

[nicomp]

Matter of fact, suggest Dave has a blind spot and you'll get one of his rants about how the problem is you and could never be him.
You know how Dave talks about his wife having that woman's perception about people not being genuine. My wife's radar goes off big time on Dave. But not with Clark. And I know Dave has lines of people willing to say just the opposite.
Dave does have what he calls his Eagles Group that is supposed to be something of an accountability group, but it really sounds more like an echo chamber.

I love it when he explains that since he went bankrupt more than once, he is uniquely qualified to tell us now not to go bankrupt.

 

[secondchoice]

I love it when he explains that since he went bankrupt more than once, he is uniquely qualified to tell us now not to go bankrupt.

I once knew a very successful bank president that would only make unsecured loans to businessmen* who had at least one bankruptcy. He was the lender for my late uncles natural gas field development in KY. which made my great uncle a millionaire. No I was not in the will.

*It was the 1970's and equal rights was just starting to take effect.

 

[del_griffith]

Matter of fact, suggest Dave has a blind spot and you'll get one of his rants about how the problem is you and could never be him.
You know how Dave talks about his wife having that woman's perception about people not being genuine. My wife's radar goes off big time on Dave. But not with Clark. And I know Dave has lines of people willing to say just the opposite.
Dave does have what he calls his Eagles Group that is supposed to be something of an accountability group, but it really sounds more like an echo chamber.

I love it when he explains that since he went bankrupt more than once, he is uniquely qualified to tell us now not to go bankrupt.

In defense of Dave, he's only been bankrupt once. September, 1988.

And again, in his defense, he advises people to avoid bankruptcy it if at all possible. But if it isn't possible to avoid it, then there are times when it is appropriate. I hear many callers who are deep or not so deep in debt but with some effort, grit and time that can work their way out of it. It's not easy. But they can do it. In many cases, they've lost hope. Sometimes that process can be a character builder. Sometimes the sting of that fight will assure they never get back in that situation if they at all help it. And sometimes it's best to pull the plug and start again another day.

 

[jry]

Well, i've decided to check all of this out for you....

We'll find out.

Thanks.

I know priorities change or things don't remain top of mind. Any update?

I put some feelers out an am waiting for a response. Thanks.

 

[markbohach]

In defense of Dave, he's only been bankrupt once. September, 1988.

And again, in his defense, he advises people to avoid bankruptcy it if at all possible. But if it isn't possible to avoid it, then there are times when it is appropriate. I hear many callers who are deep or not so deep in debt but with some effort, grit and time that can work their way out of it. It's not easy. But they can do it. In many cases, they've lost hope. Sometimes that process can be a character builder. Sometimes the sting of that fight will assure they never get back in that situation if they at all help it. And sometimes it's best to pull the plug and start again another day.

A listener once asked Dave if, since he was a multi- millionaire now, he ever paid back the loans he bankrupted.
I believe the listener was looking for a "gotcha" moment with Dave.

Dave's reply was - YES he did. Although it was not easy to do because once a loan is written off, it's virtually
impossible to go back and pay but he made good every penny he borrowed.

Dave does say that he doesn't expect others should do the same.

I personally would rather take advice from someone who has been there- done that- paid the price and
then wrote the book than from a professor who read about it once in a book.

By the way, I practice what Dave preaches, have read the book, drank the Kool Aid and am debt free.
Yes, I highly recommend debt free life to everyone.

And no offense to you faculty members out there.

 

[del_griffith]

In defense of Dave, he's only been bankrupt once. September, 1988.

And again, in his defense, he advises people to avoid bankruptcy it if at all possible. But if it isn't possible to avoid it, then there are times when it is appropriate. I hear many callers who are deep or not so deep in debt but with some effort, grit and time that can work their way out of it. It's not easy. But they can do it. In many cases, they've lost hope. Sometimes that process can be a character builder. Sometimes the sting of that fight will assure they never get back in that situation if they at all help it. And sometimes it's best to pull the plug and start again another day.

A listener once asked Dave if, since he was a multi- millionaire now, he ever paid back the loans he bankrupted.
I believe the listener was looking for a "gotcha" moment with Dave.

Dave's reply was - YES he did. Although it was not easy to do because once a loan is written off, it's virtually
impossible to go back and pay but he made good every penny he borrowed.

Dave does say that he doesn't expect others should do the same.

I personally would rather take advice from someone who has been there- done that- paid the price and
then wrote the book than from a professor who read about it once in a book.

By the way, I practice what Dave preaches, have read the book, drank the Kool Aid and am debt free.
Yes, I highly recommend debt free life to everyone.

And no offense to you faculty members out there.

Mark. A little confused. You see I'm not just some broke professor. I have read the book. Matter of fact, make that the books. I facilitate the class. I'm not very far away from being totally debt free.

I've set face to face and hand in hand with people who lost hope, had tears streaming down their faces, talked of ending it all and convinced them there was not only hope but this time it wasn't hype. A good part of that foundation was Ramsey, Burkette and yes Howard.

I've received many notes of thanks. But not multi-millions. But some of those notes or one on one thanks are worth more than the millions.

And yes, I sometimes see, hear or experience things that make me do a double take. I guess because I've not been bankrupt or not made many millions and took some time to questions some practices, that makes me a faculty member?

 

[jry]

Thanks Mark!
Daves situation was unique. He had great real estate but HIGH leverage. I have seen banks change hands and call notes, before.
Being thrown into a default situation is pretty painful stuff. You're making the payments, everything is rolling along. Then, the new guys take over and call you out. OUCH!

Back in 80 we were in that situation and, although my partner filed bankruptcy, i chose to make deals and pay everyone on my side of the deal off.

I am no worse for the wear.

 

[nicomp]

In defense of Dave, he's only been bankrupt once. September, 1988.

No doubt you are correct, I thought I heard him say he's been through it more than once. I probably musinderheard him. Anyway, by his logic Ron Paul would make a great President because he can't win a primary.

His message is great, it just gets old for 3 hours a day. How many times can we be entertained by someone calling to say they paid off their debts?

 

[del_griffith]

In defense of Dave, he's only been bankrupt once. September, 1988.

No doubt you are correct, I thought I heard him say he's been through it more than once. I probably musinderheard him. Anyway, by his logic Ron Paul would make a great President because he can't win a primary.

His message is great, it just gets old for 3 hours a day. How many times can we be entertained by someone calling to say they paid off their debts?

You may be right that he has said twice. But with conditions.

He made reference recently, and it caught me off guard so I may be missing something when he said it, but the gist was that his family went through bankruptcy in 1973. He framed it in the family loved boating and they lost the boat in a 1973 bk and losing the boat was painful. Since Dave was born in 1960, he would have been ~13 in 1973, so the bankruptcy couldn't have been his.

But he may have said something to the effect that he has experienced two bankruptcies in his life. And that could easily be misunderstood to mean he himself has been bankrupt twice.

 

[markbohach]

In defense of Dave, he's only been bankrupt once. September, 1988.

And again, in his defense, he advises people to avoid bankruptcy it if at all possible. But if it isn't possible to avoid it, then there are times when it is appropriate. I hear many callers who are deep or not so deep in debt but with some effort, grit and time that can work their way out of it. It's not easy. But they can do it. In many cases, they've lost hope. Sometimes that process can be a character builder. Sometimes the sting of that fight will assure they never get back in that situation if they at all help it. And sometimes it's best to pull the plug and start again another day.

A listener once asked Dave if, since he was a multi- millionaire now, he ever paid back the loans he bankrupted.
I believe the listener was looking for a "gotcha" moment with Dave.

Dave's reply was - YES he did. Although it was not easy to do because once a loan is written off, it's virtually
impossible to go back and pay but he made good every penny he borrowed.

Dave does say that he doesn't expect others should do the same.

I personally would rather take advice from someone who has been there- done that- paid the price and
then wrote the book than from a professor who read about it once in a book.

By the way, I practice what Dave preaches, have read the book, drank the Kool Aid and am debt free.
Yes, I highly recommend debt free life to everyone.

And no offense to you faculty members out there.

Mark. A little confused. You see I'm not just some broke professor. I have read the book. Matter of fact, make that the books. I facilitate the class. I'm not very far away from being totally debt free.

I've set face to face and hand in hand with people who lost hope, had tears streaming down their faces, talked of ending it all and convinced them there was not only hope but this time it wasn't hype. A good part of that foundation was Ramsey, Burkette and yes Howard.

I've received many notes of thanks. But not multi-millions. But some of those notes or one on one thanks are worth more than the millions.

And yes, I sometimes see, hear or experience things that make me do a double take. I guess because I've not been bankrupt or not made many millions and took some time to questions some practices, that makes me a faculty member?

Del, no offense intended. I wasn't referring to to people who teach FPU or provide counseling to help people out.
You obviously deserve kudos for having, as Dave would say, the heart of a teacher.

I was thinking of those econ courses I was forced to take where the prof droned on and on about the proper use
of credit and how we all needed to apply for our credit cards to establish our credit ratings. I drank that Kool Aid
and carried debt around my neck well into my 30's.

Keep doing what you're doing my friend.

Mark

 

[del_griffith]

Well, i've decided to check all of this out for you....

We'll find out.

Thanks.

I know priorities change or things don't remain top of mind. Any update?

I put some feelers out an am waiting for a response. Thanks.

I know things are busy and things get put in the bottom of the pile. But it's been a month. Anything in response?

My guess is if you went to the source, you won't get much if anything from them. Unlike the Clark Stinks segment, they don't like to address things like this. It's pretty much policy not to. Especially when it comes from the average guy on the street.

Oh they will take feedback from those who will further the crusade. So yes they will entertain feedback, even if critical, from a Lew Dickey or Bob Pittman or Truett/Dan Cathey or one of the mega preachers who can leverage the brand and name.

They overall do have a good program. For the vast majority of people, if they do it, it will work. Especially the get out of debt portion. And a lot of stuff they do for their partners and affiliates is top notch.

But there are somethings that aren't closely watched or where the puffery is deep. I think I noted a few several replies back.

So whatever efforts were made to get some background/answers, know that I appreciate it.

 

[del_griffith]

This is why I say there are blind spots in the Endorsed Local Provider program because they aren't being monitored and the evaluation doesn't ask what was recommended:


I had an appointment this week with the ELP in my area. I have a ROTH account that I wanted to transfer to a different account etc. and asked his help. If I move the ROTH over to his company he recommended that it go in a variable annunity with a guaranteed 5% Rate of return. It sounds good but I don't have any experience with this type of annuity for a ROTH. I did ask him "What does Dave think about this" and he said that Dave said he couldn't find a thing wrong with them. Can anyone tell me more about this?

Dave only recommends variable annuities when someone has max out tax deferred options.

And

I'm making monthly contributions to my Roth IRA (also managed by Dave's ELP).

I feel like I have a significant value of investments being managed by the ELP. I am a single woman in my 30's, and I want to make sure that I'm setting myself up for a successful retirement (at this point I cannot count on anyone else to provide for me). The thing is that I feel like the couple of times I have asked the ELP questions about the investments that he has put my money in, he is very short with answers and he makes me feel stupid for even asking the questions.

My questions are things like - why have my funds underperformed the S&P 500 in the last year-long period, why am I invested in Class C shares in my IRA, why is one of the fund a Bond Mutual fund (doesn't Dave recommend all Stock funds?), why are my Roth IRA shares Class A, why did you pick the funds that my money is in now?

Dave NEVER recommends bonds or bond mutual funds. And usually only Class A shares. Dave went as far as to say one day on air last year that any ELP that recommends bonds would be addressed. The above was written since 4-1.