| Revision as of 13:59, 10 July 2005 edit68.52.134.198 (talk)No edit summary← Previous edit | Revision as of 13:59, 10 July 2005 edit undo68.52.134.198 (talk) →His company, The Lamp Group, Inc.Next edit → | ||
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| After losing everything he began to take a hard look at what happened. Learning from his mistakes he began to counsel other people how to avoid bankruptcy and foreclosure on their homes. In 1988 he started The Lampo Group, Inc. He got back into real estate but this time avoided going into personal debt to acquire property. He was back on his feet in a few years. He started his radio program in 1992. | After losing everything he began to take a hard look at what happened. Learning from his mistakes he began to counsel other people how to avoid bankruptcy and foreclosure on their homes. In 1988 he started The Lampo Group, Inc. He got back into real estate but this time avoided going into personal debt to acquire property. He was back on his feet in a few years. He started his radio program in 1992. | ||
| ==His company, The |
==His company, The Lampo Group, Inc.== | ||
| His company now has about 100 employess (as of September 2004) and is divided into three major divisions: the Broadcast Division, the Financial Peace University Division, and the H.O.P.E. (or product and Live Events) Division. The word lampo, as used in the company name, means "to shine" in ancient greek. The mission statement is listed online as: "The Lampo Group, Inc. is providing Biblically based, common sense education and empowerment which gives HOPE to everyone from the financially secure to the financially distressed." | His company now has about 100 employess (as of September 2004) and is divided into three major divisions: the Broadcast Division, the Financial Peace University Division, and the H.O.P.E. (or product and Live Events) Division. The word lampo, as used in the company name, means "to shine" in ancient greek. The mission statement is listed online as: "The Lampo Group, Inc. is providing Biblically based, common sense education and empowerment which gives HOPE to everyone from the financially secure to the financially distressed." | ||
Revision as of 13:59, 10 July 2005
Dave Ramsey (b. 1960) is a United States nationally-syndicated talk radio host of The Dave Ramsey Show, based in Brentwood, Tennessee. His radio program is heard on over 250 stations throughout the United States as of June 2005. His show is based on "Life, Love, and the Pursuit of Piles of Cash," taking calls live from 1-4 CST on air. He teaches people how to get out of debt, build wealth, and everything in between. His radio program has been on since 1992. He has over 2 million listeners.
He is also a New York Times best-selling author. His most recent books are The Total Money Makeover, and Financial Peace, Revisited. His company -- The Lampo Group, Inc., -- is based in Brentwood, TN. One division of the company is called Financial Peace University or FPU. He is known to be passionate about teaching people to get out of debt, and to avoid the use of credit cards completely.
Dave Ramsey's story
Ramsey had a net-worth of over $1 million when he was 26 years old (1986), having built his wealth through investing in real estate, building a portfolio of over $4 millon. His debt led him to declare personal bankruptcy when some of his mortgage notes began to be called by the banks when the real estate industry went crazy in the late 1980s.
After losing everything he began to take a hard look at what happened. Learning from his mistakes he began to counsel other people how to avoid bankruptcy and foreclosure on their homes. In 1988 he started The Lampo Group, Inc. He got back into real estate but this time avoided going into personal debt to acquire property. He was back on his feet in a few years. He started his radio program in 1992.
His company, The Lampo Group, Inc.
His company now has about 100 employess (as of September 2004) and is divided into three major divisions: the Broadcast Division, the Financial Peace University Division, and the H.O.P.E. (or product and Live Events) Division. The word lampo, as used in the company name, means "to shine" in ancient greek. The mission statement is listed online as: "The Lampo Group, Inc. is providing Biblically based, common sense education and empowerment which gives HOPE to everyone from the financially secure to the financially distressed."
The Broadcast Division
This division is made up of The Dave Ramsey Show, the Dave Ramsey Money Minute (featurette), the Web and eBusiness units, and Strategic Alliances.
Financial Peace University Division
This division is built around the FPU product which is a 13-week video based curriculum taught by Dave Ramsey that teaches people how to get out of debt and build wealth. FPU classes are hosted in many various settings including churches, community and civic organization, corporations, schools and even the military. The FPU division also provides personal one-to-one counseling. The FPU material is now available in Spanish as well.
The H.O.P.E. Division
H.O.P.E. stands for "Helping Other People Excel". It includes the Live Events Department and the Publishing Department; which itself includes a youth resources area - teaching teens about money - and the "Dave Says" weekly newspaper column. Some of his products are available in Spanish as well. The Live Events are based on a 5-hour live teaching done by Dave in cities across America. He does about 14-18 live events a year. They are frequent sell-out events, usually well-attended by 4,000+ people.
Dave's basic teachings
Dave Ramsey's basic teachings can be summed up in what he calls the "Baby Steps".
- 1. Get at least $1,000 cash (emergency fund) in the bank as soon as possible.
- 2. Pay off all debt ASAP (except the house) using what he calls the "debt snowball method".
- 3. Build your emergency fund up to 3-6 months of living expenses.
- 4. Invest 15% of household income into Roth IRAs and pre-tax retirement accounts.
- 5. Save for your kids' college fund(s).
- 6. Pay off your personal home early.
- 7. Build wealth and give! Invest in mutual funds and real estate.
Dave is also very well-known for never borrowing money, since his bankruptcy in the late 1980s, and not using credit cards. One of his most famous maxims is, "Broke is normal. Why be normal?"
He talks a lot about what he calls "Gazelle Intensity", which is basically getting motivated and excited to get out of debt and "change your family tree". People call in during his radio program, especially on 'Debt-free Fridays' and cut-up their credit cards on air (using a variety of means). These are called plasectomies.
Ramsey argues that his advice is just plain old common sense "for your dollars and sense". He says the problem is that personal finance is 80% behavior and only 20% head-knowledge; we know what to do, we just don't do it.
The Dave Ramsey Show is broadcast live every day from his studios in Brentwood, TN (1-4 CST). The radio program is also heard on Sirius Satellite Radio and XM Radio, and streamed free of charge live on his web site at: http://www.daveramsey.com/radio/home/
Mr. Ramsey has been a frequent guest on many national network and cable TV & radio programs including The Today Show, CNN, The Neil Cavuto program, FOX News live, National Public Radio (NPR), etc.
See also
Resources
Dave Ramsey's Baby Steps (pdf) http://www.daveramsey.com/media/pdf/fpu_babysteps.pdf
Dave Ramsey On CBS 60 minutes -- Transcripts http://www.cbsnews.com/stories/2004/11/04/60minutes/main653794.shtml
Dave Ramsey, The Total Money Makeover.
Dave Ramsey, Financial Peace, Revisited.
The Dave Ramsey Show web site (One can listen to the radio program free via audio streaming) http://www.daveramsey.com/radio/home/
To find if the Dave Ramsey Show is broadcast in your area: http://www.daveramsey.com/radio/home/index.cfm?fuseAction=dspFindStation
The Lampo Group, Inc. http://www.daveramsey.com
Share It! (A non-profit started by Ramsey) http://www.daveramsey.com/fpu/special_interest/
MyTotalMoneyMakeover (subscription-based web site) http://www.mytotalmoneymakeover.com
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