Dave Ramsey speaks on the reason why he believes term insurance is better than whole life insurance.
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This is a must see. Google the term “SECRET RICH PLAN” and go to the first site. Then click on the LIFE INSURANCE page to see what the rich are? trying to hide for themselves. If you are tired of being poor, then this will brighten your day up.
if you want an amazing health insurance plan check this out
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Many Term companies renew your policy irregardless your health. That gives the family more than enough time to invest and have a nice pot of gold at the? end.
is it ever a good time to buy whole life like if? your 60
Dave forgot to mention the 70% chance that people will experience a stroke, heart attack, cancer, or diabetes all before the age of 45. You no longer qualify for affordable coverage, if any at all at this point. This might put a hiccup in the 20 or 30 year plan! And lets not forget obesity is killing us as well. Too bad we all aren’t millionaires like him, otherwise we wouldn’t have to worry. Too bad life is not as perfect? as he imagines it to be.
PRIMERICA is THE BEST! Forget who hates.?
Dave is the? man….
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He also assumes average rates of return, which are bogus and assumes NO losses…when has that EVER happened? It hasn’t…Most financially saavy people and/or people who are wealthy know that you could leverage “good” debt appropriately and hedge your bets in safe vehicles? while minimizing losses and taking advantage of the current tax and business structures…According to Dave…the smartest thing you should do then is invest in mutual funds till you have enough saved up for a house and pay ca
I love Dave’s concepts of getting out of “bad” debt…but I think he is a financial idiot…because any super wealthy client that I know would never be? so heavily into the market…Look at the “real” rates of return, not the so called, bogus average rates of return which really aren’t average…I feel like Dave can’t even do simple math…it’s a shame that so many people take everything he says as gospel, which is why he and Susie Orman are great “radio” and “tv” personalities…but stupid.
What Dave recommends is relatively tough for the average person to do (considering we are so conditioned to spend, complain,? and spend some more), but it’s sound advice if you’re setup in a near perfect condition. Now if you have debt, bad health, rocky family, etc etc… not so much. But this was a good presentation. I appreciate another viewpoint – especially from all of these commenters. Ya’ll are some vocal folks!
This is the one issue i have with the Ramsey/Orman types. There is no way to guarantee where? a person is going to be in 20 years, what their insurance need will be, what their insurance costs will be or what assets they will have.
Generalizing financial advice is very dangerous.
Every Knee Will Bow, Every Eye Will See, Every Tongue Will Confess That? Jesus Christ is Lord — – JESUS CHRIST REIGNS –
Primerica TERMITE?
Just a sell out?
hmm, I guess Dave never handed? anyone a death benefit. oh but the house is paid for, yay
If this fat clown cared, he would lead the charge against usury, fractional reserve banking, the 1999 elimination of the glass steagall act, and the federal reserve.
Ramsey is a greedy hypocrite. End Usury? That’s not good for Ramsey! Greedy Fu*k should burn in? hell.
he is right on term life BUT his about mutual funds and the stock market? He’s totally out of touch.
Wall Street obviously wants EVERYTHING.? Its the second greatest fraud going apart from religion. Save for “retirement” is a complete fraud. Don’t do it. Live for today. Ramsey is a fat ass wall street shill. A total kike fraud. The more you give to wall street the less you have. Keep it close people. DO NOT TRUST THESE LUNATICS. The DJIA was at current levels TEN YEARS AGO.
YES!!! RU ~TU!!!! Just got back from the TU convention this last? weekend in Ohio – did you go??
anyone else here work for Primerica?? team unstoppable baby!
lol… He does not mention that mutual funds also charges fees and you will loose value along the way. Also, he forgets to mention the tax status on withdrawals and the infinite? banking concept.
@infoguy1978 mutual funds have been around? for 90 years and have been paying average of 10%-12% on peoples money.
Ramsey is a smart guy but I have no idea why he tells people to invest in mutual funds in this corrupt economy. With the? dollar being devalued it makes no sense to invest in stocks/mutual funds
Power of Northwestern Mutual Permanent? Life Insurance! Invest into what Mr. Ramsey? What earns 5.85% ?
Every Whole life policy has a savings that earns 1%-3% interest. Ur money isn’t worth anything for 3 years. They make u wait up to 6 months to take out any of ur OWN money. They charge 6%-8% if u borrow any money by the way, ur money isnt even making that much interest to begin with. And when u die, ur? the insurance company keeps watever was in ur savings. whole life=TRASH value
$40k per? year average income, you cannot put away 15% into a qualified retirement account; according to IRS rules, you can only put up to $5,000 per year at an age of 32. I can’t believe they let such a person give incorrect information on public television.
Universal Life, with 4.5% to 5.5% Minimum Guarantee Rate selling back in the 80′s and 90′s with flexible premiums of the cash value part, and contract good for the life of the client. Leaving a road for all of who still have our polices from back then. Now a great place to park our money at 5.5% while others can’t find that at Banks, Annuities, Treasuries or even the stock markets…. Insurance Companies our a few of us through the nose now. So? who’s over paying for Universal Life? LOF haha.
What? a asshole
Hello! Anyone heard? about the Undercover Cash System (search on google)? Ive hear some extraordinary things about it and my sister made ton of money with it!
You guys are funny.. Whole life does not paid the cash value if you died. So they keep that.. And is over priced.. Is your need money from that cash value, you can borrow it, really you have to borrow you own money and paid interest!! So term is the way? to go..
Its? alot harder to do than to say dave fucking ramsey
HYPOTHETICALLY is the key word in? everything that DAVE says!!!!
This would be true dave ramsey however, not everyone has the means to accumulate 700k in cash in that amount of time. Your also not figuring inflation that will hit over an amount of time so 700k may not be as much as you or your wife believes 20 years from now. Ramsey has some good ideas, but the way he speaks leads me to believe that he truly? hasnt helped anyone that could already have helped themselves without his advice.
I truly believe WL is one of the most powerful products out there in regards to a permanent death benefit, but also being leveraged as an asset with huge tax advantages. DR is only good for low net worth individuals in serious amounts of debt. The rest of us have moved on from DR and his term theories that fund his own wallet through Zander. Buy term, invest the rest doesn’t work in this climate period. ? When 99% of term policies don’t pay out in the US, choose something that will.
You are correct there is no 15% investment out there!!! in fact bonds have out performed equities over the last 43 years according the Wharton School of Business. And the Wall Street Journal had published numerous articles about how the average investor earns less than 4% in the stock market. Whole Life is an awesome tool for protection and growing assets long term in a safe secure structure with no market risk – I’ll take 5% TAX FREE? all day long!!!!
There’s a third party article for Medical Economics by a financial guru that states even major banks put money into whole life insurance for their Tier 1 Capital Reserve? and that’s powerful. So I’d say to do what the rich do.