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What 4 Financial Advisors Really Think About Dave Ramsey’s Advice

Find out what the pros think about Dave Ramsey's financial advice.

By Sarah Sharkey , Edited by Michael Cook

Updated Oct. 19, 2026

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Dave Ramsey is a popular figure in the personal finance space, and many of his followers gain tremendous value from following his well-known tips on financial fitness.

While many financial advisors agree with the bulk of Ramsey's advice, some caution against following the financial guru's every suggestion.

Keep reading to learn what four financial advisors think of some of Ramsey's more popular suggestions.

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Not all debt is bad

Ramsey is very against taking on or holding onto debt, but some advisors caution against completely avoiding debt altogether. Some say this can help lower financial stress.

"While I agree that people should seek to minimize debt, they certainly shouldn't forego investing until all debt is eliminated," says Robert R. Johnson, a professor of Finance at Creighton University's Heider College of Business.

Johnson says that waiting to invest until you've paid off any outstanding loans or credit card balances can prevent you from taking advantage of significant savings opportunities, including your company's 401(k) match program.

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Don't take too much out of your retirement account

Dave Ramsey has personally defended withdrawing 8% annually from retirement investments, arguing that long-term stock market returns can support that approach. However, some retirement experts strongly disagree, warning that withdrawing this much could increase the risk of depleting savings.

Johnson cautions that an 8% withdrawal rate may be too aggressive for many retirees, particularly when markets perform poorly.

Before choosing a withdrawal rate, Johnson recommends evaluating your financial circumstances or consulting a financial advisor to determine what is sustainable.

Emergency funds really do matter

One thing the pros can agree on is Ramsey's belief that everyone should have enough money saved up to cover between three to six months of expenses.

The only thing that Filip Telibasa, CFP, and owner of Benzina Wealth, disagrees with is just how much money you need to keep on hand. While Telibasa believes that this is a good range, he says that people should base their savings on their actual needs.

"For example, if you have one source of income and dependents (kids), then you should be closer to six months," he says, adding that those with two income sources and no children may need far less.

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Credit cards aren't the enemy

Ramsey advises his followers to steer clear of credit cards, but Chelsea Williams, founder and financial expert at The Money Whisperer, disagrees.

Instead, she says that when used wisely, credit cards can become a powerful tool that allows users to build credit, earn rewards, and even increase some of their financial flexibility.

"Instead of fear-based avoidance, I advocate for learning to manage credit responsibly to create financial security," she says.

Don't pay off your mortgage ASAP

Still paying down your mortgage? While that advice flies in the face of what Ramsey tells his followers, Williams says that carrying a note on your home can be a good thing since it doesn't tie all of your money up in your property.

Instead, she suggests a balanced approach of paying down your mortgage while also investing in assets that will help you generate wealth over time.

You should probably save more for retirement

In Ramsey's famed "baby steps" approach, he suggests investing 15% of your household income towards your retirement.

However, experts like Kristen M. Tidd, CTFA, VP and Senior Trust Relationship Officer at Greenleaf Trust, say this number isn't enough.

"Depending on financial goals, inflation, and lifestyle, 15% savings may be too low for some individuals or families."

Bottom line

While financial advisors tend to agree that it's good to crush your debt, many diverge from Ramsey's advice in a lot of places, including when it comes to the best way to go about getting free of loans and credit cards.

As you navigate your finances, it's helpful to listen to information from popular figures, like Ramsey. But at the end of the day, you'll need to choose what information works best for your unique financial situation.

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