Dave Ramsey ELP

My wife and I are going through Financial Peace University at our church. Even though I knew most of the material, it was good to hear again and we actually started to implement a few of Dave's recommendations. I agree that he is in the business to promote himself and company but after going through half of his course, his ideas are needed for a lot of families. Let's face it, most families don't budget, are in debt up to their eyeballs, have no real concrete plan to reach financial independance, and are listening to their brother or cousin who is digging their own financial grave for advice.

I don't agree with all of his ideas but the basics are common sense and anyone that follows them will have good results.

As far as being an ELP, I actually applied twice but never heard from them. I spoke to our church about life and health insurance and have written 3 nice cases so far. In a sense, I became my own ELP for my church without the fee.

I prefer Crown Financial Ministries and Howard Dayton (the old Larry Burkett organization). They teach the same things as Ramsey but more balanced. They have radio broadcasts, seminars, one on one budget counseling, publications, and will hook you up with professional budget counseling if required. I know them personally and know that they are the real thing Christian wise. Costs are nominal and nobody is in it for the money. For example their seminar which is pretty much the same as Ramsey is only about $30 for a couple.

Crown Financial Ministries
 
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I prefer Crown Financial Ministries and Howard Dayton (the old Larry Burkett organization). They teach the same things as Ramsey but more balanced. They have radio broadcasts, seminars, one on one budget counseling, publications, and will hook you up with professional budget counseling if required. I know them personally and know that they are the real think Christian wise. Costs are nominal and nobody is in it for the money. For example their seminar which is pretty much the same as Ramsey is only about $30 for a couple.

Crown Financial Ministries

I'll check them out- Thanks
 
Dave gets asked that exact question very often on his radio show. He plays both sides of the fence on that. When he's pitching Mutual Funds (through his network of providers) he strongly says they will get an average return of 12% BUT when someone calls in with the question of why they should pay their 6% mortgage off early instead of investing it in the mutual funds he says "debt is dumb!" You're peace of mind is worth more than that and you'll go broke trying to do it any other way...........

When Dave Ramsey is talking about mutual fund returns averaging 10% or 12% I wish someone could broadcast this headline:

"The news that the Standard & Poor's 500 stock index returned just 0.06% a year for the 10 years ended June 30 has spurred talk about a "lost decade" for large-cap stocks and has sent financial advisers scrambling to find alternative investment strategies."

Large-cap doldrums drive alternative investment quest - InvestmentNews
 
well, so far, so good with the ELP program.. 2 weeks in, 1st case submitted, guy knew what he wanted, chose an HSA. Overall, I have gotten 4 leads, 2 unable to reach, one with poor health and this guy with 2 kids I was able to write.
 
When Dave Ramsey is talking about mutual fund returns averaging 10% or 12% I wish someone could broadcast this headline:

"The news that the Standard & Poor's 500 stock index returned just 0.06% a year for the 10 years ended June 30 has spurred talk about a "lost decade" for large-cap stocks and has sent financial advisers scrambling to find alternative investment strategies."

Large-cap doldrums drive alternative investment quest - InvestmentNews

That was before the more recent dive of the stock market!
 
It was also before the more recent climb of the stock market.... okay, this weeks dive was wiped out by this weeks climb, we still have a long way to go!

Also, for the record, indexes do not equal mutual funds. Mutual funds do not usually equal indexes. Don't confuse the 2.

Dan

That depends upon WHEN you got in. If you jumped into the Mutual Funds two weeks ago, you are not sleeping well today. If you got in 20-years ago, not so bad.

BUT it would serve people better to explain that there are RISKS with mutual funds. Dave oversells them to where they sound completely safe. He couldn't say half the BS he does if he actually had a brokers license.
 
When you fill out the form to become an ELP, they tell you that you will not hear from them unless they have an opening. So it should not be a surprise when you don't.

What bothers me is the ELP stands for Endorsed Local Provider, but an agent from MS has the whole state of PA locked up! Not very local.
 
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