Dave Ramsey Says 'Awful' Gen Z & Millennials Who Live With Parents Can't Buy A Home Because 'They Don't Work'

He's relying on tired stereotypes about younger generations that just aren't true.

young gen z and millennials working fizkes / Shutterstock

Dave Ramsey made a recent appearance on Fox Business to discuss his brand of personal finance guidance, which he seems to have developed in a vacuum, without actually taking economic realities into account. 

The podcast host and CEO of Ramsey Solutions was interviewed on "The Bottom Line With Dagen & Duffy" on April 4, 2024, where he shared his narrow perspective on how young people should manage their money, along with their attitudes. 


Dave Ramsey said that ‘awful’ Gen Zers and Millennials who still live with their parents can’t buy homes because ‘they don’t work.’

The 63-year-old personal finance expert responded to a Wall Street Journal article that claimed that many people under 40 disagree with his advice. 

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“I’m real good click-bait,” Ramsey acknowledged before launching into his highly unreflective hot take on why younger generations haven’t acquired wealth at the same rate as boomers like himself. 

“I’ve been doing this for 35 years, and there’s always a group of people who say you can’t do it, and so the system has to change, and they’re a victim, and they’re entitled, and you know, TikTok gives them a voice, or Instagram gives them a voice or whatever, but it’s always been that way,” he exclaimed. 

In the same breath, Ramsey touched on the overwhelming economic devastation that millennials and Gen Zers have experienced in a very sideways fashion. 



“The truth is that this Gen Z generation and the millennials, who caught a bunch of [expletive], are excellent generations,” he said. "What we’re seeing with both of them is there is a segment of them that is very serious and very good with their money. They believe in it. They believe in saving, they believe in investing, they believe in the free enterprise system.” 


Millennials, who range from 30 to 44 years old, graduated into the Recession of 2008. Gen Z’ers, who are 12 to 27 years old, came of age in an era of global pandemic, causing immense upheaval across both social and economic landscapes. 

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Add on stagnating wages, an unbearably high cost of living, and a housing market that’s inaccessible to most people, and you’ve got the bitter cocktail that younger generations are being told to drink without complaining. 

After offering a very brief recognition of the economic hardships that younger generations have found themselves mired in, Ramsey continued by declaring, “And then there’s a segment of them that just sucks. They’re just awful.”


He leaned on tired tropes to describe generations that have been hit with worldwide economic events far beyond their control. 

“They’re a participation trophy, they live in their mother’s basement, and they can’t figure out why they can’t buy a house ‘cause they don’t work, you know, stuff like that,” Ramsey said. 



It’s both unjust and reactionary for Ramsey to blame younger generations for not keeping their heads above water when it comes to their finances. 

His perspective ignores the major economic downturns that Millennials and Gen Zers inherited, along with staggering student loan debt and an inflation rate that’s at a 40-year high. 


According to a series of polls cited by Fortune Magazine, 39% of millennials who moved back in with their parents in the past year did so because of the exorbitant cost of rent. Almost 30% of grown-up Gen Zers live with their parents, as the rising cost of living has made it impossible for them to afford to move out. 

Yet Ramsey was quick to defend the “400 millennials, 500 millennials, working on our team here at Ramsey,” saying, “They’re incredible. I love them. Gen Z all over the building. I love them. They’re fabulous.”

It seems like when it serves him, Ramsey will throw his version of support to these struggling generations while simultaneously declaring that the people who disagree with him are “Just this one segment of whiners on TikTok."



Much of Ramsey’s ethos relies on the idea of being an enterprising self-starter, which a huge swath of people don’t have access to due to structural inequalities built into the way America functions. 

Ramsey also claimed that his company “Did the largest study ever done of millionaires in North America, and we found that the typical millionaire in America did not inherit their money.”


He stated that “89% were not millionaires because of inheritance. They did it the old-fashioned way. They earned it.”

“The number one way they became millionaires was just simply putting money in their 401K, over a long period of time and getting their home paid off,” he said. “It really wasn’t rocket surgery.” 

However, employers aren’t required to offer 401Ks, and many companies don’t provide this benefit to entry-level or part-time workers. Being able to save income comes down to access and opportunity — not "rocket surgery" at all, whatever that made-up profession may be. 


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Alexandra Blogier is a writer on YourTango's news and entertainment team. She covers social issues, pop culture, and all things to do with the entertainment industry.