Finance guru Dave Ramsey slams 'awful' Gen Zers and millennials who live with their parents: 'They suck. They can't buy a house because they don't work'

However, the upheaval millennials and Gen Z have faced may soon be behind them. The former is expected to become the “richest generation in history,” courtesy of a $90 trillion great wealth transfer in the coming decades, while younger consumers generally say they’re feeling more optimistic about their financial futures.

Don't worry, eventually your parents will die and you'll be able to live in the whole house not just the basement.

Dave Ramsey sounds like someone who has forgotten what happened last time.

I've been sick of him from the first moment I met an adherent. I mentioned how I like to avoid debt and pay it down early and the person said "Oh, so you listen to Dave Ramsey?" I confessed to having no idea who they were talking about, and they swore that I was being obtuse because I couldn't have come up with "interest sucks" on my own.

We should teach the millionaires to fear again

It's not that they don't work, it's that their employers (boomers own the companies) don't want to pay them

It's not that I've been dealt a losing hand, it's that my generation wasn't dealt a hand at all, and were cussed out when we asked why the dealer left us out.... Then they told us we lost the game because we were too lazy to buy our own cards to use, even though that's not how Poker works.

I lost all respect for Ramsey when I came across a video of him saying he wouldn't take a 0% interest million dollar loan. His opinions on finance are outrageous and dumb.

What is so bad about living with your parents? That's still the norm in many parts of the world. For some reason western countries, and especially America, have exaggerated the benefits of being financially independent, as if shared resources were some kind of failure.

I beg to differ. The only people who lose when we share resources are the capitalists.

I've got a few friends in their thirties who live with their parents and the whole family is very happy. And although my kids are only six and three, I can't imagine any reason why I wouldn't want them to continue living in my house for as long as they needed support.

We all need support. It's not a shame. It's an asset more valuable than property, imho.

I'm a gen x, and I don't want to work. I mean really, who does? Who would rather work than spend time with their family and/or see the world? I work because I have to to survive.

Dave Ramsey is one of those guys where you have to eat the fish but leave the bones.

A lot of what he teaches is really great, practical advice--aimed at people who really might not understand financial basics.

Things like budgeting, saving, investing in mutual funds, and avoiding debt like the plague. That's all fantastic financial advice. The whole "borrower is servant to the lender stuff pulled right out of the Bible is stuff that most on here would agree with. Debt is a way to force people into financial serfdom.

But occasionally he says stupid shit like this. And maybe it's taken out of context, but probably not. He always has advocated busting your ass to get out of debt and start saving. He calls it getting "gazelle" intense about it(basically saying banks, lenders, etc are lions trying to kill you). Again, not too far off from whatost people agree with.

So, he's advocated getting multiple jobs if you need to until you can right your financial ship.

But he's also an proponent of advocating for yourself and getting better jobs and ditching the second job as soon as you can. So I dunno. He says dumb stuff but he's also pretty practical overall. Like I said eat the fish, leave the bones.

"fiance guru" isn't a real job. Fight me.

Dave "I fire people that have sex out of wedlock" Ramsey? Who cares what that religious nut have to say?

Eat the rich.

You aren't working your way into home ownership in many cases unless you also work your way into a different locality as well.

I bought my small 2x2 condo for around 500k in 2020, it's now worth ~800k. Housing inflation is out of fucking control.

I'm a Boomer myself (born in 1964) and this maybe the first legitimate occasion I've had to say "Okay, Boomer."

Out of touch.

I work 60 hours a week and had to move an hour outside the city to find a townhouse I could afford. And I'm one of the lucky ones.

God this guy is so out of touch

Dave Ramsey is a joke. Anyone who knows the basics of personal finance knows he has no idea what he's talking about and gives advice that is downright statistically incorrect (e.g. his 8% rule nonsense).

Broadly, I wonder if these folks have no memory for how they were regarded.

The silent generation was broadly characterized as all being lazy beatniks.

The boomers were all characterized as being lazy hippies.

Of course gen xers, millennials, and z have all had their turn.

Every generation broadly bemoans the laziness of the young generation. I recall reading someone who sampled media going back to 19th century, repeatedly finding the "young folks are lazy" rhetoric that is always present.

Yeah bruh, a 1500sf house in my hood costs $1.4M. You can get a tear down for like maybe $900K.

I work 9 hours a day you fuck.

Go fuck yourself dave

Dave Ramsey is a shitheel. His attitude toward money is obsessive and not compatible with healthy relationships or families. I would not be surprised if he were to die completely alone and unloved.

What he actually means:

They need to start taking out loans so I can continue to make easy money.

It's people like this that have rotted our societies. They want all our wealth to be stretched out in easy to target debt.

Dave Ramsey hates poor people. It’s my opinion that they remind him that his math doesn’t make sense.

I hereby encourage anyone encountering him to slam him as well.

Literally though. If possible, off the top of a cage and through a table, but at least a decent scoop slam.

I'm at my parents house for various reasons, and I was actually thinking of moving out this year to be closer to my friends.

And then I had a seizure. And my parents and my sister were instrumental in calling 911 and making sure I didn't end falling to the ground painfully. They stuck with me in the hospital, and have been incredibly supportive. State law doesn't even let me drive for 6 months, so they've helped immensely with all that. I don't think I would've even known I had a seizure if not for them, and I couldn't have taken the right corrective measures for my health.

So, from the very bottom of my heart -- fuck you Dave Ramsey. Go fuck yourself and shove a rusty cactus up your ass. I'd call him a cunt (which I do not do lightly), but he lacks the warmth and the depth to be one.

The man is an egomaniac

Has finance guru Dave Ramsey looked at the cost of housing compared to what working people earn? It's very different now than it was when the boomers were able to buy houses on the income of a single entry-level wage earner per household.

One wonders whether 'finance gurus' aren't just out-of-touch boomers any more

Clearly he is awful and should die in a fire, however I have reached my limit on news stories about how these modern 'generations' are affected differently than other 'generations.' It's a bullshit classification that does not exist in real life and I am tired of hearing manufactured news stories about it. People are people, and we need to all try to get along and help each other. No one is ever thinking about what generation someone else might be part of.

He is the embodiment of cringe.

Set him up with a whiteboard and feed him actual, real figures and watch him fail to explain how it would be possible to do what he’s claiming.

No financial gifts or inheritances from parents to use as a deposit, no magical income that comes from starting a business, no magical windfalls from putting house deposit savings into the stock market, just regular old income and student debt.

If he can’t do this, he should be ignored by the financial media.

Here’s a little graph I whipped up. Dave Ramsay was born in Nashville, in 1960. So he would have been a little too young to buy in 1975, but you get the general idea.

I’ve worked with a number of financial people, and if they talk for free, generally that’s what they’re worth to pay them.

10-hour days working my ass off in a technical "skilled" job to come home to a rented 1B1BR and entitled freaks like this still want to ignore their privileged life and throw shade. Fuck Dave Ramsey and fuck the greedy companies making record profits while also not paying their workers enough.

Dude thinks you can pull 8% a year from your retirement and be fine. Everything he says should be disregarded.

https://earlyretirementnow.com/2023/11/12/dave-ramsey-8-percent-withdrawal-rate/

In every thread like this I have to show up and just say: I have four part-jobs and work every day of the week and I can't afford a house. It's so frustrating to literally be working all the time, have no shot at the American dream anyway, and see privileged fucks like this guy claim I'm not working at all.

"... seven jobs." Is the completion of that quote.

Wait until this man has a stroke and his children refuse to move in and help him.

Respectfully, Dave Ramsey can suck my whole ass.

Cut him some slack, the silver spoon up his ass he was born with is surely causing some pretty incredible irritation after all these years - can't expect him to think clearly all the time.

And this is why he gives garbage financial advice. I've known several people who used their time living at home to build up a nest egg for a down payment.

Chop, chop, chop goes the guillotine.

I have heard that the younger generations just want to bang on the drum all day.

Good. I hope you have to decide between caviar and avocado toast because you don’t have the money for both because of this you silver spoon in the ear goon.

There are some people this world would be better off without.

Hot take incoming...

Another daily "Eat the Rich" post.

There's too much emotion on this topic to be able to have a serious and honest conversation about it (either/both ways).

Like with everything else that has to do with human beings, the truth lies somewhere in the middle.

And yeah, I know, "Centrist, kill him!!!1!!". But seriously, neither extreme has it 100% right.

Fix the supply of available new homes to purchase so that the costs come down, and stop just sitting on the couch bitching and moaning and go earn the money to buy the houses at the cheaper prices (and while you're off the couch, contact your elected reps and tell them to fix the housing shortage).

something something boot straps...

It's hard to get a job, man.