That's part of the equation. Some of it is that 99 percent of RRs know almost nothing about WL and are brainwashed to push market risk instruments. That is how they make their money. Susie has that type of background.
Why Do Suzie Orman and Dave Ramsey Trash WL So Much?
- Thread starter Mburns
- Start date
That's part of the equation. Some of it is that 99 percent of RRs know almost nothing about WL and are brainwashed to push market risk instruments. That is how they make their money. Susie has that type of background.
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Well, for some GOOD news... the author John Cummuta (whom I FIRST heard of BTID), is NOW a proponent of whole life/infinite banking.
http://www.johncummuta.com/Resources/The_Banker's_Secret_book.pdf
The Banker's Secret to Permanent Family Wealth
http://www.johncummuta.com/Resources/The_Banker's_Secret_book.pdf
The Banker's Secret to Permanent Family Wealth
Jastoneback
New Member
- 7
Most agents simply just down understand when certain policies are appropiate or not.
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I had a new Dave Ramsey fan as a son of an FE applicant yesterday.
He liked the premium. The locked in rate, the fact that dad could get first day coverage, etc. but then he asked if this policy built cash value.
Yes, it does build cash up after the 2nd year.
Nope! We don't want this one then. No cash value insurance.
So if I have a company that will be the exact same on everything but doesn't build cash value, that's what you want?
Yes.
You are a Dave Ramsey fan aren't you?
Yes.
Listen, all the cash value means is that if your dad pays on this policy for a few years and then cancels, he gets some of his money back. I can sell your dad a term plan with no cash value but the rate will increase next year at age 75 and if your dad doesn't die by age 80 it will cancel him entirely.
Why would Dave recommend that?
Because if you dad sells everything he owns and moves into your basement and invests all of his money with Dave's Enorsement providers they will get him over 12% on his money and he will be rich by age 80 and not need life insurance at that point.
OK, we will take this one.
He liked the premium. The locked in rate, the fact that dad could get first day coverage, etc. but then he asked if this policy built cash value.
Yes, it does build cash up after the 2nd year.
Nope! We don't want this one then. No cash value insurance.
So if I have a company that will be the exact same on everything but doesn't build cash value, that's what you want?
Yes.
You are a Dave Ramsey fan aren't you?
Yes.
Listen, all the cash value means is that if your dad pays on this policy for a few years and then cancels, he gets some of his money back. I can sell your dad a term plan with no cash value but the rate will increase next year at age 75 and if your dad doesn't die by age 80 it will cancel him entirely.
Why would Dave recommend that?
Because if you dad sells everything he owns and moves into your basement and invests all of his money with Dave's Enorsement providers they will get him over 12% on his money and he will be rich by age 80 and not need life insurance at that point.
OK, we will take this one.
Those Dave Ramsey fans have a hard time thinking for themselves.
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If you look past his disdain for Life insurance, he has a lot of good things going. I personally give a copy of his TMM book all of my new employees and recent college grads in the family. Living debt free is a blessing that few people will ever realize.
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His investment advice is horrendous as well. His advice on debt might be 80% correct. He is just wrong. World would be a better place if he would go away.
- 359
Yeah, like how he said one day to never borrow money to start a business.
That's one of the stupidest pieces of "advice" I've ever heard. 90% of the restaurants in my town that are thriving (and employing hundreds) would never have opened if the owners had to save $500K or $750K to start 'em up.
Stupid...
If you have enough money to start a business you probably don't need a business. Who has the $750k plus need to start a lot of businesses.
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