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Who is Dave Ramsey?
I never heard of him. What does he do and is there a website?
I never heard of him. What does he do and is there a website?
Dave Ramsey Endorsed Local Provider
- Thread starter bluemarlin08
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http://www.daveramsey.com/shop/Audio_CD_Special_With_Free_Boo_P227C48.cfm?afid=7
Guess you never heard of Google . . .
Guess you never heard of Google . . .
- 477
There are many uses for permanent insurance. What about a pension option selection offset? That's a classic example of a good use of permanent insurance for the average Working Joe. I have an idea Ramsey wouldn't even know what I'm talking about. What if you find you have a limited life expectency and want to bypass all the probate and tax issues with your assets? Ask Dave Ramsey if you can MEC a term policy. What about having some insurance for final expenses and meeting the basic needs of your family (income for extended time off from work)? Sure, if you get to an old age you can buy final expense insurance, but that does nothing for younger senior that never reach that point, nor does it address the problem that many seniors don't have $200+ per month for an insurance policy, although anyone can find $15-$25 per month when younger. What about starting a VUL policy for children to help with retirement planning at an early age? After all, they don't earn income and can't start a Roth and with custodial accounts you'll lose control of the money at majority age.
Statistically, the average person WOULD be better off utilizing permanent insurance for the bulk of their retirement from what has been shown of investment studies. Now, I firmly believe in market investing. Those statistics are skewed by people that do stupid things like my brother-in-law who yanked his money out of the market immediately after 9/11 and, effectively, bought high to sell low. Smart investors undoubtedly called their broker or registered representative with their checkbooks in hand, realizing the buy opportunity. But my brother-in-law is hardly alone in this. If a person only has limited investment knowledge, time to track his portfolio, and balls, then a portion of his retirement should perhaps be in WL.
My understanding is the qualifications Ramsey brings to the table are that he ran up his CC debt so high he had to file bankruptcy 2 or 3 times and then realized one day that he should budget himself and live more responsibly. Yeah...I know a guy that realized he needed to quit smoking too, but he doesn't walk around acting as if he's a cardiologist or respiratory physician.
- 477
If he says NO ONE should EVER consider permanent insurance, then he's an extremely poor person to take advice from, among the worst of the worst.
The sad part of the financial world (particularly investments) is that an NASD affiliated person (an actual real professional, not a blowhard) has to really watchout what kind of advice he gives, as should be. But when I studied for my licenses, it amazed me that if I were not licensed in any way and just an opinionated Joe that wanted to start my own radio show or magazine--there is no regulation or oversight whatsoever. I found that amazing. Unfortunately, there are a lot of "gurus" out there that are about as wise to take investment advice from as it would be to take business advice from Don Lapre.
Dave was highly leveraged in real estate when his bubble burst.
The advice is not to over-extend yourself and to, if all possible, avoid debt.
Dave has made a very good living telling people not to do what he did. Nothing wrong with his basic advice, it is more his style & ego that is annoying.
Like John Cummata and others, he wraps himself in the Bible and sucks in people who are generally not very bright. Almost like an opportunity meeting at a hotel ballroom, his followers (lemmings) salivate at the sound of his voice and willingly poor money into his books, CD's and seminars taught by Koolaid drinkers.
Dave is a legend in his own mind and has no tolerance for the views of others, no matter how correct they may be.
- 15,319
I found the site just after my posting. Perhaps a little less sarcasm in your reply would have been appropriate.
- Thread starter
- #17
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My objective in this post was to see if any others were ELP's. The majority of the leads I get are from very decent folks that aren't koolaid drinkers, and some very successful folks as well. He originally partnered up with a Primamerica/AL Williams guy and I think that is where he developed the "trash value" views. His organization doesn't get into my business that I do outside of his leads and they are aware I do estate planning and often use permanent ins for liquidity. I don't always agree with him, my point is that his listeners have become great clients and I have a very high closing ratio with his leads. Not trying to start a term versus permanent argument, most professionals underatand there is a place for both.
My kids used to do the same thing.
Ask mom or dad for the answer to a question rather than using their own talents. Eventually they learned the only way to get the answer to questions was to FIRST try and learn on their own.
I assume anyone savvy enough to use the internet and find this forum can also use search engines to answer their own, easy questions.
Apparently that is an incorrect assumption on my part . . .
- Thread starter
- #20
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No such company.
??? Sorry for the misspelling, assumed one would know the company regardless, must type more accurate on this forum I guess -)
??? Sorry for the misspelling, assumed one would know the company regardless, must type more accurate on this forum I guess -)
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