When Dave Ramsey speaks, people listen—and jabs at Social Security draw plenty of attention. Back in February, Ramsey slammed the system, sarcastically praising the government for convincing people to give up part of their paycheck in exchange for what he calls a “-4% return.” But one financial adviser wasn’t having it—and he offered a sharp rebuttal.
“Only the Government Could Make That Work”
Ramsey called Social Security a “sacred cow” and mocked people for defending a system he says delivers poor returns.
But Colin Exelby, a Virtual Financial Advisor at Celestial Wealth Management, with almost 50,000 subscribers on YouTube, argued that blanket statements like that can be dangerously misleading. With over 20 years in the field, he stressed that personal finance is personal, and sweeping generalizations rarely help real people.
The Real Issue Got Drowned Out
The heart of the clip featured a 61-year-old caller named Tracy, who asked when he should start collecting Social Security. He didn’t need the money right away but wondered if he should claim …