For the actor, see David Ramsey. This article may rely dave ramsey investment plan on sources too closely associated with the subject, potentially preventing the article from being verifiable and neutral.
American businessman, author, financial broadcaster, television personality, and motivational speaker. Ramsey’s company, The Lampo Group, Inc. Brentwood, Tennessee, oversees six divisions geared toward financial education. Ramsey has been featured on many media outlets including The Oprah Winfrey Show, 60 Minutes, and The Early Show.
Ramsey was born and raised in Antioch, Tennessee. He was a 1982 graduate of the College of Business Administration at University of Tennessee, Knoxville with a degree in Finance and Real Estate. Ramsey’s success soon came to an end as the Tax Reform Act of 1986 began to have a negative impact on the real estate business. One of Ramsey’s largest creditors was sold to a larger bank, which began to take a harder look at Ramsey’s borrowing habits. 2 million worth of short-term notes within 90 days, forcing him to file for bankruptcy relief. After recovering financially, Ramsey began counseling couples at his local church. Soon after offering private counseling services, Ramsey began attending every workshop and seminar on consumer financial problems that he could find.
Ramsey has been married to his wife, Sharon, for over 30 years. They have three children: Denise, Rachel, and Daniel. The family resides in Winchester, Tennessee. Twenty-five years ago, Ramsey started his radio career by co-hosting the show The Money Game with Roy Matlock of Primerica. Over time, that local show on one radio station in Nashville turned into The Dave Ramsey Show.
Ramsey founded his company, The Lampo Group, Inc. In 1994, he hired Russ Carroll, Ramsey’s lead financial counselor, and together they began teaching the first Financial Peace University classes on overhead projectors. Ramsey runs his business completely debt-free, an accomplishment he states was critical to the success of his company. Ramsey is also the creator of Financial Peace University, a biblically based training series for adults that integrates video teaching, class discussions, and small group activities.
The video series lasted for 13 weeks until August 2012 when it was relaunched as a 9-week program. Some topics covered in the series are cash flow planning, investing, saving, credit, retirement, and giving. In 2013, Ramsey and the Lampo Group launched the followup to Financial Peace University, The Legacy Journey. This course is a biblically based training series for adults lasting seven weeks focused on “what’s next? Financial Peace University, integrates video teaching, class discussions, and small group activities. Users list all sources of income and they give every dollar a name for the month, based on zero-based budgeting.
Ramsey supports the debt snowball method, where debtors pay off their lowest balance debt first instead of paying off their highest interest rate debt first. Ramsey recommends investors to hold all their investments in stock mutual funds, with no bonds, which has been criticized as stocks are more volatile than bonds. Ramsey recommends individuals buy term life insurance instead of cash value insurance or return of premium life insurance and invest the savings. The Nashville Scene has reported that Ramsey occasionally receives emails and letters containing the red-letter Bible verse: “And again I say unto you, it is easier for a camel to go through the eye of a needle, than for a rich man to enter into the kingdom of God. In 2010, Ramsey received criticism on social media sites for building a large and lavish home.