Dave Ramsey

[STIBROKER]

might what to take out some life insurance........

I would rather have peace of mind today because I may die tomorrow, or today.

 

[VaDwayne]

might what to take out some life insurance........

Have plenty for now, but thanks for the advice. If I make it to 58, everything is paid for(I hope), kids are gone, life insurance is no longer needed, but I'm good in the area of life insurance if my plan doesn't work out accordingly. BANNER LIFE WILL HOOK MY WIFE and her new man up!!!!!!! I got it when I was a healthy young buck when it was cheap, not the old useless worn out fart that I am today.

I would say I worry more about LTC and disability coverage than anything. Oh I forgot, my wife will get a healthy gov't pension if there is such a thing in 18 years. That will help too.

 

[Newby]

Dave says "Don't be strive to be normal, normal people are broke and in debt". AMEN !!!!!

His advice, although elementary is sound.

I am a listener, and using his cash techniques I no longer have car payments, or credit card debt( paid off almost $30,000 in 2 years). My house will be paid for in a max of 12 years( I will be 58) but probably in 8 years(I will be 54).

Dave Ramsey preaches "Peace of Mind" which I know from experience works because I am 2 years into a new career and only do and sell what I want to, because I don't have bill collectors calling me everyday.

Some guys works 70 hours a week to put money away for their later years. I would rather have peace of mind today because I may die tomorrow, or today.

The stuff you are buying into is the same stuff smart people have always done. Live under your income, don't pay interest on ANYTHING except a house and pay it off quickly, don't buy new cars and don't finance cars. This is just basic common sense stuff.

It's the other BS that he adds to it that makes it bad advice. Term as the solution for everyone is an ***'s chant. Mutual funds for everyone is ridiculas. Annuities being bad for everyone is also ridiculas. Not using credit cards (and paying them in full each month) because you will have no self control is for simpletons. And recommending people use debit cards is less than stupid. Dave is a great pitchman. He can say things you already know and you think he invented it.

I was debt free long before I ever heard of Dave Ramsey. It's simple, don't buy crap you can't afford.

 

[VaDwayne]

The stuff you are buying into is the same stuff smart people have always done. Live under your income, don't pay interest on ANYTHING except a house and pay it off quickly, don't buy new cars and don't finance cars. This is just basic common sense stuff.

Agreed, just took me awhile to learn and someone to get me thinking about it.

It's the other BS that he adds to it that makes it bad advice. Term as the solution for everyone is an ***'s chant. Mutual funds for everyone is ridiculas. Annuities being bad for everyone is also ridiculas. Not using credit cards (and paying them in full each month) because you will have no self control is for simpletons. And recommending people use debit cards is less than stupid. Dave is a great pitchman. He can say things you already know and you think he invented it.

Agreed, but I think he gets people to think more about the situation and gives a plan of attack to fix it.

I was debt free long before I ever heard of Dave Ramsey.

Like the things mentioned above, 1 way of doing things is not for everybody. Term works for my plan......

It's simple, don't buy crap you can't afford.

Wish I could say the same thing but unfortunately I liked new cars a lot, and other stupid stuff I couldn't afford. LESSON LEARNED!!!

 

[j20a00g]

Must be another dave ramsey, he was never a producer.

I'm strongly doubting it's another "David L Ramsey III"

 

[xrac]

This is what Ramsey doesn't tell people:

Term insurance is actuarially designed and priced to NOT be inforce when you die.

Term is an IF you die while young solution.

Permanent is a WHEN you die, at any age, solution.

Rick Blaine, Topgunproducers.com.

 

[Texas Broker]

The amusing thing is Dave Ramsey quotes a figure of the return of the S & P over the last 50 years being X. He talks about Mutual funds returning 10 to 12% per year. Some of his listeners have acutually told me those are the funds they want that Dave recommends.

He recommends owning the ones that average better that 10% per year. We have had some difficult years and not many returned that in the last 3 years.

I have clients making a guranteed 4.5 % in the cash value of their life insurance. Which beats losing 30% in Mutual Funds.

I agree with some of Dave's ideas but his advice is a cookie cutter aproach aimed at the masses of lower income.

 

[STIBROKER]

and what product would that be...........

I have clients making a guranteed 4.5 % in the cash value of their life insurance.

 

[VaDwayne]

The amusing thing is Dave Ramsey quotes a figure of the return of the S & P over the last 50 years being X. He talks about Mutual funds returning 10 to 12% per year. Some of his listeners have acutually told me those are the funds they want that Dave recommends.

He recommends owning the ones that average better that 10% per year. We have had some difficult years and not many returned that in the last 3 years.

I have clients making a guranteed 4.5 % in the cash value of their life insurance. Which beats losing 30% in Mutual Funds.

I bet you told a different story a few years ago or did you tell clients to invest in life insurance even when they were making 10% because they were guaranteed 4.5% regardless of the economy? I bet not....

 

[HarryRenard]

I bet you told a different story a few years ago or did you tell clients to invest in life insurance even when they were making 10% because they were guaranteed 4.5% regardless of the economy? I bet not....

Are actually saying that a maybe is better than a guarantee??

And yes I did say that and still do.