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We did his Financial Peace thing a few years ago. Went from doing okay to having a budget and getting rid of all non-mortgage debt. I get why people don’t like

We did his Financial Peace thing a few years ago. Went from doing okay to having a budget and getting rid of all non-mortgage debt. I get why people don’t like him, but his stuff was transformative for us. Makes it hard to read things like this.

gnicholas 5y ago
How applicable would you say his strategies are for startup founders? Like many founders, I'm not piling away tons of cash for retirement right now. I assume that my growing (and financially breakeven) startup will continue on its current trend and that it will either become a lifestyle business or lead to a liquidity event. Would someone like me benefit from a course like his?
- mgkimsal 5y ago
  Haven't taken FP directly, but have read the material and listened to his show before. It might make you rethink your goals overall. It might make you consider just saving and giving yourself a bigger savings setup, and then pursue your startup goals later, when you can perhaps self-fund a lot more of it, and attack it from a position of stronger financial security. Or not...
- Brendinooo 5y ago
  I'm not a startup founder, so I can't say for sure. His course is basically just this[0], with some rationale and anecdotes, in a group. I don't want to downplay it because a big part of it all is getting motivated and disciplined enough to want to do it, and so having weekly group meetings made a huge difference. But the overview will give you an idea of what to expect. [0]: https://www.ramseysolutions.com/dave-ramsey-7-baby-steps https://www.ramseysolutions.com/dave-ramsey-7-baby-steps
- ryathal 5y ago
  His advice is for the masses, so it's don't play the unicorn game. The vast majority of startups are going to end in failure, so not tying your entire personal wealth into them is good because you will more than likely lose it all. Generally his advice is: if you can't take a salary from your startup it's a hobby/side hustle and you should have a job that pays the bills, until you are confident you can do so. Hoping you get a liquidity event is not sustainable advice for the masses.

gnicholas 5y ago

How applicable would you say his strategies are for startup founders? Like many founders, I'm not piling away tons of cash for retirement right now. I assume that my growing (and financially breakeven) startup will continue on its current trend and that it will either become a lifestyle business or lead to a liquidity event. Would someone like me benefit from a course like his?

mgkimsal 5y ago
Haven't taken FP directly, but have read the material and listened to his show before. It might make you rethink your goals overall. It might make you consider just saving and giving yourself a bigger savings setup, and then pursue your startup goals later, when you can perhaps self-fund a lot more of it, and attack it from a position of stronger financial security. Or not...
Brendinooo 5y ago
I'm not a startup founder, so I can't say for sure. His course is basically just this[0], with some rationale and anecdotes, in a group. I don't want to downplay it because a big part of it all is getting motivated and disciplined enough to want to do it, and so having weekly group meetings made a huge difference. But the overview will give you an idea of what to expect. [0]: https://www.ramseysolutions.com/dave-ramsey-7-baby-steps https://www.ramseysolutions.com/dave-ramsey-7-baby-steps
ryathal 5y ago
His advice is for the masses, so it's don't play the unicorn game. The vast majority of startups are going to end in failure, so not tying your entire personal wealth into them is good because you will more than likely lose it all. Generally his advice is: if you can't take a salary from your startup it's a hobby/side hustle and you should have a job that pays the bills, until you are confident you can do so. Hoping you get a liquidity event is not sustainable advice for the masses.