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Even if he is referring to a rider, he still would be incorrect.
Dave Ramsey Owns an Annuity
- Thread starter 0b1kanobee
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Even if he is referring to a rider, he still would be incorrect.
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VolAgent said:
You expect accurate info from Dave? This the 12% mutual fund return guy lol.
You're giving him too much credit. In the same blog he talks about what the balance of a 10k investment would be after 30 years using the 3.85% return. He probably doesn't even know what a rider is. Plus, until recently, fixed annuities (not index annuities) haven't had options for riders.
- 17,063
In one of his recent books where he is answering questions, someone asks if it's a good idea to prepay your funeral.
His answer was no because if you took that same $10,000 and invested it (with one of his preferred providers no doubt) at age 20 and left it alone until you retired you would have one million dollars.
This sounds realistic because a lot of 20-year olds that have saved up $10,000 can't wait to get down to the funeral home and prepay their funeral with it. And I'm sorry but I have a hard time believing that $10,000 will compound into $1,000,000 during our lifetime.
But what do I know?
His answer was no because if you took that same $10,000 and invested it (with one of his preferred providers no doubt) at age 20 and left it alone until you retired you would have one million dollars.
This sounds realistic because a lot of 20-year olds that have saved up $10,000 can't wait to get down to the funeral home and prepay their funeral with it. And I'm sorry but I have a hard time believing that $10,000 will compound into $1,000,000 during our lifetime.
But what do I know?
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Newby said:
And I am sure the question came from someone much older and the response made them shake thier head like.....But I am 80 years old I don't have 40 years to wait and take risks in the market.
Ramsey is not considering taxes, inflation, or market fluctuations in his advice.
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So you're telling me markets don't go straight up, and I may have to pay taxes on the gains?????
How can you have a bully as a hero?
