NEWSFLASH for most people this WILL NOT WORK. Why? Well, most people don't make enough in order to save enough, as this plan requires. Following this course of action isn't going to make you wealthy unless you make a lot of money in the first place. This game-plan is built around a life of fear and sacrifice. For this to work out you're going to need to work really hard for a really long time! This is a giant game of defence and defence alone doesn't create wealth. You also need to score points! In my opinion, Dave Ramsey's plan is antiquated. Sure, it might have been sound advice when the average life expectancy was lower, but today, the average person will live 10 years more than their grandparents. That means YOUR retirement savings have to last an EXTRA DECADE! As any financial advisor will tell you, the end goal should be to save enough money that you can live off the interest from your savings. In other words...you need to make the income first, then your income will build your savings. So, what's a better plan of action? Chris Hogan and Dave Ramsey both recommended eliminating debt. I DON'T AGREE. Not all debt is bad. There's "good debt" that pays you more than it costs you. If you learn the skills needed to leverage other people's money you'll be able to increase your earnings and start building real wealth. That's exactly what my clients are doing - Dan Abreu, for example - who has been able to add $27,000+ monthly residual income within just one year. In one year, Dan's made 5 times the income that Angie will make using Dave Ramsey and Chris Hogan's plan over a 15 year period. Whereas Angie's money will run out, Dan's won't. So... the question you need to ask yourself is 'how long do you want to work hard?'