Dave Ramsey Net Worth, The Debt Savior Of American People

Dave Ramsey Net Worth

Dave Ramsey is one of the most trusted financial advisors in America.

When you are in debt, Ramsey might help you to overcome it. He’s a former realtor that once got bankrupt.

But now, he has helped a lot of people to get away from their debts using his own method.

Dave Ramsey is also a radio show host and a businessman.

He’s widely known for his radio program and TV show “The Dave Ramsey Show”.

Ramsey struggled his way to overcome his bankruptcy in the past.

As of this year, Dave Ramsey net worth is estimated to be $55 million.

However, you may wonder how much money actually does Dave Ramsey have till this day?

As many reports say that Dave Ramsey net worth is reaching of $55 million which comes from various sources.

It may come from any combination of his investment and profits he’d earned from his company which serve people to overcome any debt problem.

dave ramsey financial peace
Source: money.com

It also comes from entertainment activity he did in past few years, pretty similar with Marcus Lemonis net worth.

Furthermore, Dave Ramsey likely has a relation with people who trapped in debt and need an immediate help.

It’s because Ramsey is able to assist people who face a personal bankruptcy and trying to overcome it.

However, with dozen of experience to avoid financial problem, Ramsey and his company ‘Ramsey Solution’ has become one of the most trusted source of financial advice, especially in America.

Even though all of advices and methods are not totally agreed by its customers, but thing we are exactly agreed is that Dave Ramsey with his company has been successfully helping thousands of people overcome their debt and reaching a financial freedom.

Hence, even there still number of people doesn’t agree with his methods, those people still believe in him and all strategies he has told and given.

The Beginning Of Dave Ramsey

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Source: nab.org

David Lawrence Ramsey III was born in Antioch, Tenessee. He graduated from the College in 1982.

Dave studied Business Administration College in Tennessee University with a degree in Finance and Real Estate.

At the beginning of his business career, he was a real estate investor under his own company “Ramsey Investments, Inc.

In 1986, Ramsey built a rental real estate portfolio that was worth over $4 million.

However, in 1988, the bank wanted the money back immediately because it was bought by the new company.

Dave Ramsey had a hard time to finish the payment. Then, he filed bankruptcy in 1988.

He needed time to recover from that. So, Ramsey attended seminars and workshops on consumer financial problems.

At that time, he developed a set of materials and lessons about financial problems.

The materials are based on his own experience and works and teachings by related Authors.

From that, Dave Ramsey wrote a book “Financial Peace”. It’s his first book based on his experience.

Dave Ramsey ever said in a life documentary report, that he has instilled a strong work ethic since he was in a young age.

It’s not surprising that Dave Ramsey net worth has been rising from a past few years.

Further, he’s also trying to relate his life principle to the past story about his life.

Once, he extremely wanted to buy something, and he didn’t take any chase from his dad and try to pay on his own.

What is more, this cause had driven Ramsey to be young entrepreneur since that time.

Since then, Ramsey tried to earn money by doing some work.

He printed up his business cards in order to advertise his newly lawn care business.

In years later, as he has written in his book, he was trying to look for other ideas.

As a result, he was receiving his real estate license just several weeks after turning 18 year-old.

Aside from Ramsey, success in the easy age through hard work can also be seen through Daniel Radcliffe’s career journey (make sure you read more about Radcliffe at Daniel Radcliffe net worth).

Ramsey Solutions

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In 1992, Dave Ramsey built a financial support company for Americans who are ignorant of their financial principles.

Because that kind of people would likely make a mistake like Ramsey made in the past.

Under the company “The Lampo Group, LLC”, He offered financial counseling to them.

The Lampo Group started with small counseling sessions.

Now, it has grown to an organization that consists of over 550 people in. The organization is now called “Ramsey Solution”.

If you want to join and have a financial counseling session, you can just visit their website “daveramsey.com”

What makes Ramsey Solution different from other companies is its way to define success.

Most companies define it by the money coming in.

For Ramsey Solution, Success is based on the number of lives changed.

It’s not just an ordinary company who takes your money and give counselings.

It’s an organization to help you get out from financial problems.

Historically, in 1992, Dave Ramsey has built his own business, ‘Ramsey Solutions’, to helped people get out from being stressed and frustrated due to their financial and debts problems.

His aim is about helping other overcome problem and avoid them to not to be trapped in the same mistakes for the second time.

He had ever paid the ‘stupid tax’, mistake he had done with dollar signs on the end of the time.

Dave Ramsey didn’t only do help for others, he’d also wrote the book, ‘Financial Peace’ which based on all the stories about him and Sharon in a financial struggle.

Along the way, they also tried to sell all the books they’ve produced with only using Dave’s car.

Further, he also run his local radio and the call-in show program called The Money Game.

Nowadays, people may recognize it as The Dave Ramsey Show.

The Ramsey Solutions is becoming the one of source which helps increase Dave Ramsey net worth for a long time.

What’s different may come from the way it helps people to overcome their debts problem.

Instead of define success based on earning much dollars as many companies may offer, in Ramsey Solution it comes to the several steps every people should take called ‘Dave Ramsey’s 7 Baby Steps’.

The Dave Ramsey Show

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Source: slate.com

It’s not complete when talking about Dave Ramsey without the show that gets him famous, The Dave Ramsey Show.

The Dave Ramsey Show is both radio program and TV program.

It all started in 1992. While Ramsey was selling his “Financial Peace” copies, he was a guest on a radio show.

After that, the radio station offered him to host a one-house show for free for a month.

He gladly agreed in order to promote his copies. The show called “The Money Game”.

The radio show became so popular in Nashville.

Then in 1996, the name of the show changed to “The Dave Ramsey Show”.

By 2017, the show already aired from more than 585 radio stations.

He was honored with two nominations in Radio News/Talk Industry Achievement Awards, and he received an award for Syndicated Personality of The Year.

Because his radio show, Ramsey was honored to be in a National Radio Hall of Fame, and receive Marconi Award in 2009.

The show was a success. In the network sales, the show was worth $2.5 million in 2005.

From advertisers online, the show brought in an estimated $3.7 million.

He produced the show by himself which is distributed directly to the local stations.

There’s no programming service and national network connected to the show.

Nowadays, the show is also available as a podcast that people can listen via iTunes.

David Ramsey’s Bottom Line

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Source: cnbc.com

Mostly people may have heard that Dave Ramsey has faced the worst incident through his life.

He and his wife, Sharon, have been losing everything since bankruptcy come across their business as happened to Mike Tyson who also experienced bankruptcy in 2003 (check Mike Tyson net worth).

Since then, they’re trying to go on a quest to find out how did money totally work.

Moreover, they also attempted to know how they could have control and have a confidence to handle it.

However, it might take a time.

In that ‘journey’, they tried to realize that money, problem, worries, or even shortages actually came or ended accorded on their own though and decision.

Afterwards, he moved back to the place he ever lived, his real estate, the place he spent a time to eat and to get out of debt.

Further, he also tried to take a part in another path which is the path of helping millions of others to overcome any problem of debts.

Ramsey has become a successful person along his lifetime due to his principle that lead them to know what things he wanted to do and also partly thanks to the any helps come to him.

However, Dave Ramsey had a net worth of over $1 million when he was 26 by earning money from his business to purchase his needs by using helps, networks, and connections of his family in banking.

But it was actually not as great as mostly people thought.

He had addressed that he had lost all the fortunes he made due to lender acquired another and called in Ramsey’s debt for worth $1.2 million.

Along the way, that problem demanded Dave to purchase the money in only 3 months.

Afterwards, Ramsey filed to bankruptcy protection and avoiding any debts on his business since then.

The Debut On Television

dave ramsey net worth forbes
Source: bizjournals.com

The Dave Ramsey Show was a total success as a radio show. So, FOX Business Network brought it to televisions.

This financial program was aired at 8:00 p.m ET four days a week, Monday, Tuesday, Wednesday, and Friday.

Typically, the show began with short financial advice or opinion monologue.

Mostly, the show was devoted to helping e-mailers and callers with their financial questions and problems such as debt, divorce, personal, and business.

The show made its television debut on October 15, 2007.

Then, FOX Network ended the program on June 18, 2010.

Achieving The Net Worth

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Source: americanprofile.com

His Radio show and Podcast are still airing worldwide.

People from all over the world can listen to various platforms such as Youtube, Spotify, iTunes, and more.

His fortune was built by investing in real estate, writing some best-selling books about finance, hosting radio show/podcast, and of course financial counseling with his company “Ramsey Solution”

Dave Ramsey created a Univesity of Financial Peace to let people learn more about finances.

That would surely add a big fortune to Dave Ramsey net worth. Ramsey tends to give training sessions for those who need.

The total was estimated to be more than 4.5 million attendance.

His weekly show has over 13 million listeners. That’s what makes him getting more and more money every week.

Recently Ramsey had done building a luxurious mansion which leads to a controversy of him not doing his own financial advice.

The house and land are estimated to be over $4.9 million worth and he paid in cash, following his own advice.

He lives with his wife, Sharon and his three children in Franklin, Tennessee.

Ramsey also owns several lavish cars from popular brand such as Corvette and Lamborghini, different brand from Dave Chappelle who chose to collect Lexus LS460 and Rolls-Royce Phantom Drophead Coupe (read more about Dave Chappelle net worth).

Dave Ramsey’s 7 Baby Steps

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Source: psmag.com

Dave Ramsey net worth is not only coming from selling his hits books and running radio and TV shows, it also coming from his occupation as a lecturer at the university to teach ‘Financial Peace’.

However, there is outstanding step to avoid debts problem called ‘7 Baby Steps’.

These are an offshoot of the FPU class which involve planning ahead for emergencies, pay off debts, and formulate the further plans.

However, the 7 Baby Steps seem like not that easy to apply, but they will effectively work as long as people follow every step directly.

It’s good to see and learn what steps are, so we can avoid any financial problem that may come across sometimes.

Anyway, here we’re going to help you giving explain of each step, but how good it will work, it’s totally up to you.

Let’s find out the answer down below.

1. Step 1: $1,000 to start an Emergency Fund

The first step you’ll be suggested to plan the goal which drives you to save $1000 as fast as you can. However, your emergency fund may cover all unexpected events you can’t plan before.

2. Step 2: Pay off all debt using ‘Snowball’

Second step will come to the way you pay off all the debts you made by using ‘snowball’.

Here, you can pay off the credit of your cars, credit cards, or even student loan by listing all of your debts with no mortgage.

Then, you have to try to put them all to make a balance between smallest and largest.

Snowball method helps you to knock out your debts one by one.

3. Step 3: 3 to 6 months of expenses in savings

Step 3 brings you to build a fully funded emergency fund which could cover 3 till 6 months of your expenses.

It will help you to protect finance from life’s bigger outcome in the future.

4. Step 4: Invest 15% of household Income

Here, you’re suggested to consider your retirement by taking 15% of gross household income then begin invest it into your retirement.

5. Step 5: College funding for children

This step will bring you to pay off all debts except the house than beginning to save for retirement. Further, you need also to save for your children’s college expenses.

6. Step 6: Pay off home

Here, you’re suggested to take any extra money to put into mortgage in order to save you tens or even hundreds of thousands in interest.

7. Step 7: Build wealth and give

Last step will suggest you to keep building wealth and become generous by leaving an inheritance for your kids or even their kids in the future.

Conclusion

Dave Ramsey’s popular nickname is a financial guru. So, if you have problems with finance, you should come to him.

He managed to reach his success through hard work and recovering from bankruptcy was not easy for him.

By writing best-selling books, giving counselings, and hosting a radio show, Dave Ramsey can get what he wants.

As of this year, Dave Ramsey Net Worth is estimated to be $55 million.