Why Do Suzie Orman and Dave Ramsey Trash WL So Much?

We don't necessarily disagree. Tithing is only a very small part of Biblical stewardship. Yes, Dave does mention tithing, but it is in the context of factual information in order to promote Zander and his ELP agenda.

I don't feel any push towards the "Zander" or "ELP" agenda. I listen to his show frequently and understand that Zander is a paid advertiser. He rarely even mentions the ELP's and when he does he just says go to his website to find one. ELP's don't pay him, they just get screened by him.

I agree with most of Dave's teachings. The biggest thing is the "get rid of debt" part. I paid of my house at age 45 and it's a great feeling. The amount of money you save by not having interest charges on homes/cars/retail etc is HUGE.
 
I don't feel any push towards the "Zander" or "ELP" agenda. I listen to his show frequently and understand that Zander is a paid advertiser. He rarely even mentions the ELP's and when he does he just says go to his website to find one. ELP's don't pay him, they just get screened by him.

I agree with most of Dave's teachings. The biggest thing is the "get rid of debt" part. I paid of my house at age 45 and it's a great feeling. The amount of money you save by not having interest charges on homes/cars/retail etc is HUGE.

Haha.....ELPs most definatly pay Ramsey. They pay a fee for their territory for financial rep doing mutual funds it is based on the telephoen area code.
 
I don't feel any push towards the "Zander" or "ELP" agenda. I listen to his show frequently and understand that Zander is a paid advertiser. He rarely even mentions the ELP's and when he does he just says go to his website to find one. ELP's don't pay him, they just get screened by him. I agree with most of Dave's teachings. The biggest thing is the "get rid of debt" part. I paid of my house at age 45 and it's a great feeling. The amount of money you save by not having interest charges on homes/cars/retail etc is HUGE.

You really think the ELPs don't pay for the endorsement? You must be kidding.
 
I'm not as familiar with Suze Orman's pitch as I am with Dave (I know Suze, I just find her obnoxious so I pay her no attention!). That said, I have a broker who has a great approach to selling against Dave. Generally speaking if you are working with someone who is a candidate for something other than term insurance, they probably have a good income. So a simple approach is Dave's advice is great for people who are broke and have $20,000 in credit card debt. Is that you? (at which point ego kicks in, and of course that is not me!)

Here are a few things that Dave says and your client might disagree with 1-2 of these:

- You should never buy a new car (and NEVER lease).
- You should have no credit cards (do you have an AMEX??)
- Student loans are bad.
- 30 year mortgage is bad.
- No investment property that isn't owned 100% outright.
- No single stocks, only mutual funds.

This is simple, when your clients say they only want ter because they follw Dave's teaching, lets just make sure they are in line 100% (you don't have a car pamyne do you? Because if so Dave says you should sell it and buy a beater..). Most of the time you'll quickly find something they disagree with (IE, my kid could not have gone to college without loans) and you can build upon that. "As I mentioned, Dave's advice is great for poor people who are broke. That is not your situation."
 
I have problems with Dave ' s approach for a couple reasons. First, he makes too many assumptions. Gains averaging 12% or more might be possible but it's not realistic. Secondly, he doesn't prepare anyone for how long they need for retirement. 20-30 years is a long time to manage. This makes whatever percentage you have in funds harder to manage. Thirdly, his advice on LTC is unrealistic and borders on deceptive. Turn 60 and buy LTC...right! Only if you're healthy enough. If you can't get LTC. ..don't put any of your nest egg into a FA or FIA.
These points are huge and most people don't hear about this from their advisors.
 
Keep it simple. Term protects your survivors IF you die Perm protects your survivors WHEN you die

Dave thank you so much. I've been searching for a solid way to remember & more importantly, teach the difference between Term and WL. Yours is perfecto.

-MillerLIFE
 
Suzie Orman has changed her tune on WL recently but Dave Ramsey is paid by Zander Insurance and they only offer Term if Im not mistaken. So he is going to preach about the product that puts money in his pocket. I have a hard time putting faith into a guy (Dave) about financial advice that has declared BK not once but twice.
 
Suzie Orman has changed her tune on WL recently but Dave Ramsey is paid by Zander Insurance and they only offer Term if Im not mistaken. So he is going to preach about the product that puts money in his pocket. I have a hard time putting faith into a guy (Dave) about financial advice that has declared BK not once but twice.

Good reason to listen to him about the risks of being in debt...But your right about pretty much anything else.
 

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