Dave Ramsey on life insurance
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Dave Ramsey on life insurance
Dave Ramsey on life insurance
Video Rating: 4 / 5
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btw dave is awesome
If you already have a job, I have tips and advice for you. It doesn’t require doing extra work. It is the insider advice that tells you you could be saving money from what you’re already doing. Trust me, I don’t have a hidden agenda, I want to help people, not scam them.
Hey, I noticed this video was posted in 2008. What happened that year until today? Did anyone loose anything on mutual funds, 401k’s, and other market linked investments??? I wonder how much money that 52 yr old guy lost out of his $700,000 mutual fund investment? At that age when will he ever make it up??
P – Pyramid Propagators
R - Retard Reunion
I – Insidious Insects
M – Masturbating Man Milk Maniacs
E – Egregiously Entrap Elders
R – Racist Rectum Rebels
I – Imbicilic Illiterates
C - Cancerous Cacophony
A – Apathetic Absolute Alienation
@matthewsapaulainc The only 2 ways that you can get the “guaranteed savings” out of a whole life policy is to take out a policy loan (@ 6 to 8% revolving interest & lower the death benefit by the amount borrowed until repaid) or surrender the policy (the permanent insurance the agent convinced you that you needed.) You can take out a loan from the bank at lower interest & that would be tax free as well. How much is your “tax-advantage” on a whole life policy actually going to cost you?
@matthewsapaulainc There’s no investment in a w/l policy. If you have a $100K policy & accumulate $10K in cash value & die, the company still only pays $100K. Given the fact there’s no cash accumulation for the first 2 to 5 years or more (I came across one recently with no cash accumulation for 15 years) you would have to hold these policies for decades before you could expect to break even (if at all). Since they cost 4 to 10 times more than term, few people get the coverage they actually need.
Speaking of industry changes – in Canada – One time big player, Standard Life, is the latest trash value company to fall out of the insurance industry. There were over 3000 trash value companies in North America 35 years ago, now there are less than 990.
What about the all too common complaint against your companies by seniors who’ve had their policies cancelled for no reason? Why is it always such a shock to your clients when they find out how their policies actually work? Why is it so easy to replace these policies when they do find out how they work? Why don’t you have the backbone to meet us on agent confrontations anymore?
Couldn’t help but notice you didn’t respond to any of my points. How about the common practice of you “highly trained professionals” putting universal life policies on children and then telling the parents that they’re education funds? How about the “expert analysis” you do that results in as much or more trash value insurance being placed on the children as on the parents?
The troll goes on to show how utterly clueless he is when it comes to 401K’s, Mutual Funds, calculating investment returns, tax laws, & everything else related to financial services. Claiming to know how the rich operate, when I give him a question he should have been able to answer immediately, he spent days spamming my questions & giving amateur answers. He then, desperately, tries to save face by Googling up Estate Freeze before realizing he just shot himself in the foot again.
The trash value troll defends, as a good policy & great investment, a whole life policy that gave the woman who owned it a “return” of NEGATIVE 46% after 19 years. He continually ignores the fact that the only way this woman can get these “savings” is to take out a policy loan (@6%-8% revolving interest) or to surrender the (permanent?) policy. He states a bunch of crap that easily be disproved by going through ANY whole life policy.
The troll has to resort to the use of multiple aliases, identity theft, & spamming other users’ comments (censorship), & making crude comments. He doesn’t have an argument to state, for him this is an ongoing, desperate, pathetic, plea, for attention coming from a failure & fraud who couldn’t make it in the industry.
The troll uses a lower case “L” in his user name instead of a 1 (one) so he can impersonate me. Check out my profile and note that it shows that I joined YT on February 17th, 2011. Now check out the profile of the trash value troll who’s claiming I’m imitating him, It shows that he joined on August 31st 2011. I’ve had this profile over 6 months before him, yet he claims I’m imitating him. This is what he considers truth.
The trash value troll – aka wodendog, insurancemike10, SuperLifeguy, jgilles85 ( a rip-off of a different user), Termisexpensive, aIprime1 (a rip-off of me), w8lifterdude & several other names that haven’t been seen since Google made users associate a phone # with their accounts, can’t attack Primerica or defend the trash value industry with out resorting to idiotic lies, spamming other users comments, using multiple aliases, & generally making a total fool of himself.
Big words from a gutless coward who has to spam comments & use multiple aliases because he’s a cockroach who can’t stand the light of day. You can censor comments all you want, wimp, but you can’t hide from yourself. You’re a fraud & you know it.
@aIprime1 clearly! He mentions “hypotheticals” in what a 52 yr old’s scenario wud be w/ kids in their 20s out of the house. What about REALITY? Those same 20 yr olds can’t find a job with their MBAs, have moved BACK home while retirement plan isn’t “squeaking by” @ $700k but at $350k all the while HOPING his employer doesn’t lay him off. A permanent life insurance policy w/GUARANTEES would go a lot further all in a tax-advantaged environment. And NO, I don’t sell life insurance.
Stating that the rich don’t use life insurance for retirement purposes is clear evidence of this guys lack of financial intelligence. There’s tremendous amounts of cash value they can use to supplement retirement income. But more importantly there’s the death benefit. By having the DB they can spend down their assets with no fear knowing the DB will provide income replacement should they die.