Personal Finance Personalities to listen to after Dave Ramsey

Member since 2020 · 1 post · 1 vote

Hello,

I saw a short story of Robert Kiyosaki where he was talking about financial advising personalities. He said that if you are poor you listen to (name I didn't catch). If you are middle class you listen Dave Ramsey.....

It got me wondering if there is a personal finance personality to listen to once you've grown beyond Dave Ramsey. I'm not bagging on him in any way; I used him way back in the day and his advice really helped, I got out of debt and fixed a lot of bad habits. Those good habits have put me in a place where his advice and "steps" don't really apply to me anymore. Now I put my efforts towards real estate, but I wonder if there is someone I could listen to in the background that would have advice (non-specific to real estate) for someone like me.

Does anyone have recommendations?

Thanks,

-K

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Alicia MarksPro Member

Fort Worth, TX · Member since 2020 · 1k+ posts · 2k+ votes

@Lane Kawaoka has one focusing on passive income, many through turnkey investments. We have the BiggerPockets Money Podcast https://www.biggerpockets.com/... and I enjoy Chris Miles "Money Ripples" that focuses on passive income.

[email protected]Podcast Guest on Show #204

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Chris SeveneyBusiness Member
Moderator
Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
4y
@Kila Keuma
With the amount of podcasts at there, it’s truly dependent on personal style as the list is so long.
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Alicia MarksPro Member
Fort Worth, TX · Member since 2020 · 1k+ posts · 2k+ votes
4y
@Lane Kawaoka has one focusing on passive income, many through turnkey investments. We have the BiggerPockets Money Podcast https://www.biggerpockets.com/... and I enjoy Chris Miles "Money Ripples" that focuses on passive income.
[email protected]Podcast Guest on Show #204
2 Reply
Mark S.Pro Member
Rental Property Investor · KY · Member since 2013 · 1k+ posts · 540 votes
4y
Quote from @Kila Keuma:

Hello,

I saw a short story of Robert Kiyosaki where he was talking about financial advising personalities. He said that if you are poor you listen to (name I didn't catch). If you are middle class you listen Dave Ramsey.....
It got me wondering if there is a personal finance personality to listen to once you've grown beyond Dave Ramsey. I'm not bagging on him in any way; I used him way back in the day and his advice really helped, I got out of debt and fixed a lot of bad habits. Those good habits have put me in a place where his advice and "steps" don't really apply to me anymore. Now I put my efforts towards real estate, but I wonder if there is someone I could listen to in the background that would have advice (non-specific to real estate) for someone like me.
Does anyone have recommendations?
Thanks,
-K

Keith Weinhold and Get Rich Education podcast.
1 Reply
Kekila Keuma
Member since 2019 · 5 posts · 1 vote
4y
Quote from @Chris Seveney:

@Kila Keuma
With the amount of podcasts at there, it’s truly dependent on personal style as the list is so long.

Hello,
That's exactly the problem. There is too much to choose from, that's why I am hoping for recommendations.
0 Reply
Kekila Keuma
Member since 2019 · 5 posts · 1 vote
4y
@Alicia Marks. Thank you! I will give them a try!

@Mark S. Thank you too! I will also give these two a listen!
Thank you everyone!
-Kila
1 Reply
Jacob Hamilton
Developer · Alexandria Virginia · Member since 2022 · 10 posts · 11 votes
4y
I think the Dave Ramsey approach to paying off bad debt, getting on a budget and sticking to it is all good common sense advice that everyone at a high level follows to a degree. Whether it be your personal budget or your business budget, I don't know any successful individuals that their business does not have a budget in place and would argue that most wealthy individuals also have a personal budget in place as well.
The notion that Dave Ramsey's advice is for the poor or middle class is a fair argument in his methodology for real estate investing but when it comes to the tried and true staying out of bad debt and sticking to a budget; he could not be more spot on for anyone.

Take bits and pieces from all the information you consume and form your own opinion, bring those opinions here and get feedback and other takes on things.
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Chris SeveneyBusiness Member
Moderator
Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
4y
Quote from @Kekila Keuma:

Quote from @Chris Seveney:

@Kila Keuma
With the amount of podcasts at there, it’s truly dependent on personal style as the list is so long.

Hello,
That's exactly the problem. There is too much to choose from, that's why I am hoping for recommendations.

creating wealth simplified podcast
7e investments53 Reviews
Website View Page
0 Reply
James Wise
Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 31k+ posts · 20k+ votes
4y
Quote from @Kila Keuma:

Hello,

I saw a short story of Robert Kiyosaki where he was talking about financial advising personalities. He said that if you are poor you listen to (name I didn't catch). If you are middle class you listen Dave Ramsey.....
It got me wondering if there is a personal finance personality to listen to once you've grown beyond Dave Ramsey. I'm not bagging on him in any way; I used him way back in the day and his advice really helped, I got out of debt and fixed a lot of bad habits. Those good habits have put me in a place where his advice and "steps" don't really apply to me anymore. Now I put my efforts towards real estate, but I wonder if there is someone I could listen to in the background that would have advice (non-specific to real estate) for someone like me.
Does anyone have recommendations?
Thanks,
-K

I would never take anything an online personality said about money to heart....Unless they were shirtless and painted blue. You can always trust a shirtless blue dude.
2 Reply
Eliott Elias
Investor · Austin, TX · Member since 2021 · 9k+ posts · 5k+ votes
4y
Sam Zell
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Lane Kawaoka
Rental Property Investor · Honolulu, HAWAII (HI) · Member since 2011 · 4k+ posts · 2k+ votes
4y
It depends on where you are at in the journey. Most people (90-99%) of people just have bad spending habits or don't make enough income. Those people need to typically get to baseline and Dave Rambsey is a good program for that. But once your networth goes 100k-1M you need to open your mind to different ideas such as taking on good debt that meets 1.0 Debt service coverage ratio and build up your assets.
1 Reply
Mark S.Pro Member
Rental Property Investor · KY · Member since 2013 · 1k+ posts · 540 votes
4y
Quote from @Lane Kawaoka:

It depends on where you are at in the journey. Most people (90-99%) of people just have bad spending habits or don't make enough income. Those people need to typically get to baseline and Dave Rambsey is a good program for that. But once your networth goes 100k-1M you need to open your mind to different ideas such as taking on good debt that meets 1.0 Debt service coverage ratio and build up your assets.

1.0 DSCR will get you in trouble real quick.
0 Reply
Sarah Bee
Member since 2022 · 1 post · 0 votes
4y
Quote from @Kila Keuma:

Hello,

I saw a short story of Robert Kiyosaki where he was talking about financial advising personalities. He said that if you are poor you listen to (name I didn't catch). If you are middle class you listen Dave Ramsey.....
It got me wondering if there is a personal finance personality to listen to once you've grown beyond Dave Ramsey. I'm not bagging on him in any way; I used him way back in the day and his advice really helped, I got out of debt and fixed a lot of bad habits. Those good habits have put me in a place where his advice and "steps" don't really apply to me anymore. Now I put my efforts towards real estate, but I wonder if there is someone I could listen to in the background that would have advice (non-specific to real estate) for someone like me.
Does anyone have recommendations?
Thanks,
-K
Anyone know who the advisor for lower income people was?
0 Reply
Paul Vail
The Triangle, NC · Member since 2021 · 193 posts · 117 votes
4y
Ramsey is fine for debt management and budgeting. He kinda loses me with overly optimistic equity returns (claiming 12%/yr averages whereas after inflation it may be closer to 6-7%) and can be religiously in the wee hours. Overall, learning to budget and tackling debt should be lessons #1 and 2 for anyone over the age of 15, so thumbs up to Dave there. After that, it depends on your mentality. Deep dives with Financial Independence (the Mad Fientist), Journey to Launch (Souffrant), Money for the Rest of Us (Stein), Optimal Daily Finance, Stacking Benjamins, Big Picture Retirement, and Radical Personal Finance (Sheets) all have great information. As with any podcast, you kinda have to give them three to 5 episodes (and start from the earliest you can) to gain a vibe for what appeals to you. Some go into greater life-lesson detail (do you have a Will, Living Will, POA for medical and legal, and a ton of tangently-financial topics). Some or more serious or academic while others go for the fun.

I do think getting out of the silo mentality is important, so mix it up. Kiyosaki has opinions - some good, some whackadoodle. Just like the rest of us. However, when anyone says 'my way' is the only good way and everything else is vastly inferior -- that's ego, not healthy advice. Knowing and understanding paper asset investing fundamentals, real estate fundamentals, and small business fundamentals are all valuable and each of these wealth-building tools should be in our shed.

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