Dave Ramsey Net Worth
Dave Ramsey is currently one of America’s most trusted sources for middle-class financial advice. His radio show, “The Dave Ramsey Show,” is among the top five radio talk shows in the United States and is heard by 13 million listeners every week on over 600 radio stations. Belonging to the evangelical Christian church, he often uses biblical principles to teach his “followers” how to improve their financial conditions. For example, he often advises avoiding debt because, according to verse 22: 7, “The rich dominates the poor and the borrower is a slave to the lender.”
|Dave Ramsey Net Worth||$200 Million
|Full Name||David Lawrence Ramsey III
|Date of Birth||3 September 1960
|Source Of Income||Media|
|Birth Place||Antioch, Nashville, Tennessee, United States
Radio Show Host
|Wife Name||Sharon Ramsey
Dave Ramsey Early life:
Ramsey grew up in a typical American family that, from childhood, instilled in him a strong work ethic. When he was 12, he asked his father for extra money to buy ice cream, getting the answer to work to earn it.
Taking his father’s suggestion literally, Ramsey printed 500 business cards at the local print shop on the same day to promote his first business, lawn care, to his neighbors. During his school years, he then developed other initiatives (e.g., selling leather bracelets), which taught him valuable lessons for the future, such as knowing how to develop customer service and the importance of keeping his word to customers.
Dave Ramsey Career:
Three weeks after he turned 18, Ramsey got his license to become a real estate agent (a business his dad also did), using the commissions he earned to help pay college tuition. After graduating from college, Ramsey was able to secure financing to buy properties for resale directly. At just 26 years old (1988), his real estate portfolio was worth $ 4 million (and his net worth over $ 1 million).
But the initial success was short-lived, and at 28, due to an argument with a new bank manager, Ramsey had to pay off a debt of $ 1.2 million within 90 days and file for bankruptcy. His account of $ 800,000 in cash, held at another institution, was of little use to calm the bank and obtain an extension: the remaining amount of only 378.
The fall from grace led Ramsey to acquire greater wisdom, and an utterly coincidental circumstance directed him towards the activity of financial adviser. One day, after the church service he attended every Sunday, a couple asked him exactly how he had survived his financial problems, begging him to give those suggestions for solving some money difficulties. Outside the church, sitting on a bench, Ramsey created a financial plan for their life, effectively starting his new career.
In the following days, he started a personal financial consulting firm called The Lampo Group, and his first clients were more than 350 students. Of his old university, eager to plan their future (in the US, young adults immediately start saving for pension funds and to buy a house as soon as they are hired).
A few months after The Lampo Group’s success, Ramsey began hosting a private finance-focused radio show called “The Money Game,” along with his friend Roy Matlock. He also published his first book around that time, taking advantage of his growing radio audience to sell it.
In addition to mutual funds, Ramsey has remained loyal to the real estate sector, which plays a crucial role in managing household assets in the US. He owns a portfolio of rental properties, and his investment philosophy is based on the careful selection of opportunities and the acquisition of properties at a reasonable price). Without using bank debt, using the rental income to hedge the initial investment and make a lasting net profit.
Dave Ramsey’s Net Worth:
Dave Ramsey is an American author, financial expert, business entrepreneur, and radio host with a net worth of $ 200 million. Dave Ramsey is probably most famous for creating a business where he helps others learn about finance.
Ultimately, Dave Ramsey’s story has a subtle (but noticeable) bottom line. He agreed that there is worth in his abilities from an early age, managing to earn extra money thanks to the simple spirit of initiative. His flawless effort helped him become a tycoon at the age of 26.
Over the past twenty years, millions of middle-class Americans have used Dave Ramsey’s teachings as a guide to achieving financial security and well-being, and his star continues to shine.