I have been a listener of the Dave Ramsey show for a year and a half, and I have read his books. I also have read part of R. Kiyosaki's series RDPD. Kiyosaki's principles are good to have present at all times, but Ramsey presents a more down to Earth and practical advice for building wealth to the common men. In the end I have taken ideas from both authors, but I am biased towards the debt-free Ramsey's plan.
I believe that debt is neither good nor bad. The problem lies in the fact that it is marketed as the only way to make it in life, as the only way to create wealth. And I believe that this is wrong. You can and should use leverage to create wealth but money is not the only kind. Time has been the most effective form of leverage for many people; and now creativity and knowledge have become another way to create wealth (tech industry for example).
In the end, both approaches can make you rich; one may do it in a few years (Kiyosaki), and the other most likely will in 15 to 20 years (Ramsey).
Pat
|