Today at 12:00 p.m.
Christopher A. Hopkins
Nashville radio empresario Dave Ramsey has helped millions of people navigate their way out of debt and set a more sustainable financial course. Much of his advice on personal budgeting is sensible and a clear benefit to many of his listeners. His investment advice, on the other hand, is often misguided and potentially hazardous.
Ramsey blew up the internet last month by suggesting that his listeners, regardless of age or other considerations, should invest 100% of their assets in stock mutual funds and begin withdrawing 8% every year adjusted for inflation once they retire. The 8% withdrawal is about double what most responsible advisors and financial planners take as a theoretical starting point before considering the myriad factors unique to each individual situation.
