Dave Ramsey Owns an Annuity

[0b1kanobee]

For curious minds who want to know, I recently found out Dave Ramsey owns an annuity. It's actually a variable annuity of all things. I can't say what company it's with but I found it rather interesting.

I went to his site and didn't see where he thought annuities were bad. He simply said they could be used rather well in the right situation.

I had Dave Ramsey and Clark Howard come up a few times over the weekend while doing a marketing event. The one woman who swore she followed his plan to a T ended up admitting she had 3 credit cards for emergencies. I never thought buying shoes could be an emergency but heh!

Ben Bernanke also owns one or two annuities.

Just a little trivia for those of us curious.

 

[Norwayguy]

For curious minds who want to know, I recently found out Dave Ramsey owns an annuity. It's actually a variable annuity of all things. I can't say what company it's with but I found it rather interesting.

I went to his site and didn't see where he thought annuities were bad. He simply said they could be used rather well in the right situation.

I had Dave Ramsey and Clark Howard come up a few times over the weekend while doing a marketing event. The one woman who swore she followed his plan to a T ended up admitting she had 3 credit cards for emergencies. I never thought buying shoes could be an emergency but heh!

Ben Bernanke also owns one or two annuities.

Just a little trivia for those of us curious.

Of course it is a VA....Don't you know that mutual funds and I would guess he also means subaccounts earn a 12% return he says so in almost every radio show.

 

[Newby]

For curious minds who want to know, I recently found out Dave Ramsey owns an annuity. It's actually a variable annuity of all things. I can't say what company it's with but I found it rather interesting.

I went to his site and didn't see where he thought annuities were bad. He simply said they could be used rather well in the right situation.

I had Dave Ramsey and Clark Howard come up a few times over the weekend while doing a marketing event. The one woman who swore she followed his plan to a T ended up admitting she had 3 credit cards for emergencies. I never thought buying shoes could be an emergency but heh!

Ben Bernanke also owns one or two annuities.

Just a little trivia for those of us curious.

Nothing surprising about that. If you listen to his show, he changed his stance on variable annuities a couple of years ago. As long as you buy it through one of his endorsed local providers they are good. Not fixed annuities because his endorsed providers don't sell those.

He knows what side his bread is buttered on.

Ben Bernanke had to disclose all of his assets when he took office. Most of his savings (several million) are in annuities. At least they were back then.

Just means he's smart.

 

[kr16]

Does Dave own Zander, its everything he is against but he pushes them.

 

[Newby]

Does Dave own Zander, its everything he is against but he pushes them.

Zander is his biggest paycheck so he doesn't allow anyone else to sell term life insurance using his name. He may or may not own part of it. But it is a huge money-maker for him.

It's not against anything. He tells everyone they need 10 to 20 times their income in term life insurance. That's what he sells through Zander.

 

[VolAgent]

Nothing surprising about that. If you listen to his show, he changed his stance on variable annuities a couple of years ago. As long as you buy it through one of his endorsed local providers they are good. Not fixed annuities because his endorsed providers don't sell those.

He knows what side his bread is buttered on.

Ben Bernanke had to disclose all of his assets when he took office. Most of his savings (several million) are in annuities. At least they were back then.

Just means he's smart.

Doubly smart when you think about it for Bernanke. Generally public figures like him have to put their money into blind trusts. An annuity probably serves the same purpose and gives him some protection depending on the type of annuity and how much is in each one.

 

[jacobtn]

Zander is his biggest paycheck so he doesn't allow anyone else to sell term life insurance using his name. He may or may not own part of it. But it is a huge money-maker for him.

It's not against anything. He tells everyone they need 10 to 20 times their income in term life insurance. That's what he sells through Zander.

it would seem difficult to make a term sales business profitable, with the underwriting complexities and the ordering of parameds, followups required etc. when you are writing younger ages. Of course I guess they write larger ones too on wealthier folks, and some may be older. Wonder what they do on the older ages where term is not available?

Dave always preaches against any type of permanent coverage, which is ridiculous since the older folks don't have term available typically and most want a policy they can keep without it running out. GUL when illustrated for death benefit and no CV is essentially a permanent term policy!

Oh that's right everyone will be a millionaire if they follow his program so when the term expires they can start their own ins company!

 

[sman]

For curious minds who want to know, I recently found out Dave Ramsey owns an annuity. It's actually a variable annuity of all things. I can't say what company it's with but I found it rather interesting.

I went to his site and didn't see where he thought annuities were bad. He simply said they could be used rather well in the right situation.

I had Dave Ramsey and Clark Howard come up a few times over the weekend while doing a marketing event. The one woman who swore she followed his plan to a T ended up admitting she had 3 credit cards for emergencies. I never thought buying shoes could be an emergency but heh!

Ben Bernanke also owns one or two annuities.

Just a little trivia for those of us curious.

Do you have any documentation of Dave Ramsey owning a VA? According to this blog entry in 2010, he does not.

Uncovering the Mysterious Variable Annuity - daveramsey.com

Dave doesn’t own any variable annuities, though he meets all the prerequisites. His simple investing strategy involves mutual funds and real estate. That’s it.

And I love this article on fixed annuities from Dave.

The Retirement Crisis: Are Annuities the Answer? - daveramsey.com

A typical fixed annuity may offer a 5% guaranteed annual payout with 1.15% in annual fees. That lowers your actual return to just 3.85%.

How many fixed annuities that offer a fixed guarantee rate have annual fees? Let alone an annual fee of 1.15%? He's an ***.

 

[0b1kanobee]

Do you have any documentation of Dave Ramsey owning a VA? According to this blog entry in 2010, he does not.

I do not and even if I did, I couldn't disclose it or the source. I don't see how my source could be any more reliable. I can't disclose anymore than what I have. There would be lawsuits flying and people losing their jobs. It sure would make for interesting news though.

 

[Norwayguy]

Do you have any documentation of Dave Ramsey owning a VA? According to this blog entry in 2010, he does not.

Uncovering the Mysterious Variable Annuity - daveramsey.com

Dave doesn’t own any variable annuities, though he meets all the prerequisites. His simple investing strategy involves mutual funds and real estate. That’s it.

And I love this article on fixed annuities from Dave.

The Retirement Crisis: Are Annuities the Answer? - daveramsey.com

A typical fixed annuity may offer a 5% guaranteed annual payout with 1.15% in annual fees. That lowers your actual return to just 3.85%.

How many fixed annuities that offer a fixed guarantee rate have annual fees? Let alone an annual fee of 1.15%? He's an ***.

It says 5% payout, I would take it he is speaking of a rider and the fees associated with the rider.