E85: Why Financial Gurus like Dave Ramsey are Wrong

by Dollars and NonsenseFinancial Management, Infinite Banking, Podcast0 comments

E85: Why Financial Gurus like Dave Ramsey are Wrong

In this episode, we discuss why Dave Ramsey is wrong when they tell the world to buy term and invest the difference, and then how infinite banking can fit into anyone’s financial picture.

See also our blog post called: Why Dave Ramsey is wrong about infinite banking.

Dispelling Misconceptions About Whole Life Insurance:

Why Dave Ramsey is wrong. We also discuss Suzy Orman. Why financial gurus like Ramsey and Orman dismiss whole life insurance.
Why most of them are flat out wrong about their advice
The right way and wrong way to view and use policies
How infinite banking is such a vital asset to you
Leveraging policies to make investments to make your money work two jobs for you
How they conveniently hype the market rate of return and downplay policy rates of return

Takeaways:

The self-proclaimed financial gurus are flat wrong about whole life insurance, because it’s not merely about a life insurance policy. They completely miss the point. It is literally about banking and how money works.
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Infinite banking is not whole life insurance. We are not investing money in a whole life insurance policy. We are building a bank.
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They’re just mistaken on the infinite banking concept. “Oh, they’re just leaving money in a whole life policy.” No, the infinite banking is different. It’s not whole life insurance. It’s a process that uses whole life insurance.
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Buy term and invest the difference is faulty. They always downplay how much a policy can earn you and they always hyper exaggerate how much money you can make in the stock market or in mutual funds. Dave Ramsey’s the most guilty of this.
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