Dave Ramsey is one man who has been trusted in the field of finance for many years. His story has drawn the attention of the media from different parts of the world for his ability to climb the ladder of success even when it seemed almost impossible. From becoming a debtor of about $2 million, Dave Ramsey’s net worth skyrocketed into millions of dollars. Currently, he is a public speaker, a financial expert, financial counselor, On-Air personality, online sensation, investor, and entrepreneur. He has authored several bestselling books including The Total Money Makeover which sold over 6 million copies.
Although he is an American, he has positively affected the lives of people across the world with his teachings through various mediums. He has earned both wealth, name and several titles such as the National Association of Broadcaster’s Marconi Award winner for Network/Syndicated Personality of the Year, member of the National Association of Broadcasters (NAB) Broadcasting Hall of Fame, and inducted member of National Radio Hall of Fame
What is Dave Ramsey’s Net Worth?
Since he was able to come out of money troubles and has laid his hands on several things that seem quite fruitful, Dave Ramsey has made a good fortune worth an estimated amount of $55 million.
If you’ve ever wondered about his story, here’s what you need to know.
Story of Dave Ramsey’s Personal Bankruptcy
He was born David Lawrence Ramsey II in Antioch, Tennessee on September 3, 1960, and at the young age of 12, Ramsey was encouraged to work for his money and throughout his school days, he owned several businesses which would later help him become good in the field.
Coming from a family that was in real estate business and with a degree in Finance and Real Estate, Ramsey began a career as a real estate investor through a company he started. The business at first thrived and by the time he was 26, he was already earning a good amount of dollars and owned a rental real estate portfolio worth more than 4 million US dollars. Unfortunately, his success story was cut short and was left to pay a debt of dollars.
Although Ramsey was bankrupt, he did not last a while at the bottom but made a comeback and was able to settle his debts.
Dave Ramsey Financial Comeback
Belonging to the Christian religion, perhaps Dave believes in ‘charity begins at home’ as he started his counseling job in his church with a couple. Soon, the number of his counseling class increased day-by-day. Following his success in his newfound counseling job, Dave founded a company – The Lampo Group which was aimed at personal finance counseling.
As a result of his success in his company, together with Roy Matlock, he started a radio show called The Money Game. Subsequently, in 1992, Ramsey made a realization of another radio program termed The Dave Ramsey Show and with weekly listeners of about 12 million, he answers several questions from callers on personal finance questions. His show is aired in more than 500 radio stations in America, Canada and online.
From his financial experiences of rising, falling and rising again, Dave wrote a book called Financial Peace’ a guide on getting out of debt. Following the success of his 1992 published book, he started a class called the Financial Peace University where he teaches how to Pay Off Debts, make Budget, Save Money and Give Generously.
He further authored several other books including The Total Money Makeover, Complete Guide to Money, Smart Money Smart Kids, The Legacy Journey, EntreLeadership, The Money Answer Book, and The Financial Peace Planner: A Step-by-Step Guide to Restoring Your Family’s Financial Health.
Ramsey offers several live financial live coaching at different places of churches, workplace, organizations, and a host of others. His teachings are mainly related to financial freedom, how to get out of debt using what he calls the 7 baby steps, getting new behaviors on dealing with money and more.
So far in his career, he has supported the debt snowball method where debtors start by settling their small debts before the massive ones; recommends investors to hold all their investments in stock mutual funds, but their volatility increases risk compared to bonds; recommends retirees to withdraw 8% of their retirement fund each year. However, all these views have been taken differently by several people who both propose and oppose.
Today, Dave Ramsey’s net worth of $55 million doesn’t look like that of someone that was once in the dust.