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Life Insurance Is NOT an Investment - Dave Ramsey Rant

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Get a cheap Term Life here, and then invest the rest! https://goo.gl/LFpCEj
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Text Comments (56)
Larry B (1 month ago)
I love your radio show Dave Ramsey. I have a question I have a 500k 20 year term. I’m 60 yo and my insurance is expiring. I found out that my rates is 10x if I renew it every year and it is going to increase every year. If I still want to have insurance so I can build a legacy to my family what would you suggest?Thanks
judas brute (2 months ago)
12 whole life agents watched this video
Nathaniel Gooding (3 months ago)
you either live long or die early. regardless insurance should be in your wealth building plan in the beginning and when you have enough money from your savings or investments (depending if your adviser is efficient) you should be able to live off of it down the road and cancel your insurance.
Susan Freeland (3 months ago)
Where in the baby steps do I start with looking into getting life insurance???? Suddenly single mom of 4 small children. Thank you.
Amanda Johnston (2 months ago)
High Midnight I would assume as soon as your 4 walls are up. Double check the book
Jim Houser (4 months ago)
call and cancel right away...these slimy insurance salespeople will also pump you for contact info for your friends and family...don't give out any names/ numbers.
KMF (4 months ago)
I don't need life insurance but I do need disability insurance. With a long-term care Rider. Does anybody no of the best way to do that?
Amanda Johnston (2 months ago)
kari KF call Xander and ask them
John W (4 months ago)
Why would anyone use life insurance as an investment vehicle? It has an otherwise valid purpose, namely being a safety net for loved ones who cannot support themselves (usually children). People buy life insurance on the understanding that if they survive the term, it's money well spent. If something terrible happens, their loved ones are protected. I think Dave misses the nail here.
KMF (4 months ago)
John W he does talk about buying life insurance for life insurance not an investment if you listen to the whole video
shayne barr (4 months ago)
Melissa Joy (4 months ago)
only $400,000, doesn't that seem like they would be underinsured?
Rebecca Shields (4 months ago)
Depends on what their expenses are, how old their kids are. My husband and I have just $200,000 each to cover our mortgage and childcare costs if something happened to the other. We don't need more than that so why pay for it?
Jeremy Logan (4 months ago)
Why does he never talk about Bank on Yourself...
David Reynolds (4 months ago)
I have a $100K life insurance policy through my work and that is plenty for a single and childless man like me. I am debt free, mortgage free and fattening retirement accounts. Getting more life insurance would only make my mother and sister more insurance rich.
Seymour Cake (4 months ago)
I am 32 years old and my term life policy covers me til 94.
Seymour Cake (4 months ago)
MrTHL1 okay that's cool.
Mr#1 (4 months ago)
I'm just getting a 30 year. that'll bring me to age 62.
Seymour Cake (4 months ago)
MrTHL1 good question is have to check that out. The aim is to be financially stable way before then. So I wouldn't have to worry about renewal.
Seymour Cake (4 months ago)
Jestic The rep was from Primerica. The actual life insurance company is National Benefit Life Insurance Company.
Mr#1 (4 months ago)
what would the renewal rate be? can't imagine it being cheap when you're over 50.
Xfggfcggb Ddcvhhjj (4 months ago)
Pass the message and also call the swatteam
Xfggfcggb Ddcvhhjj (4 months ago)
Somebody please call the swat team on this old man family and radio station crew name Dave ramsey... he haves a voodoo doll and he hurts the guy as a hostage ...him and his family wants to kill the guy with witchcraft black magic
Brandon P West (4 months ago)
Love this video man! Telling it how it is.
Lance kaminsky (4 months ago)
Dave is right about fees hurting so much. He should also mention that active mutual funds could easily have 1% management fees and 5% up front costs but thinks those are better than index funds.
harrison wintergreen (3 months ago)
index funds are not magical. a one-time 5% fee can be cheaper than any other fee, if you hold the fund long enough. 5% divided by 30 years, is cheaper than .05% fee per year, every year, for 30 years. a fee of up to 1% can be justified if the fund out-performs the S&P 500. The following Fidelity funds match or beat the S&P 500. Ticker Symbol - Avg Annual Growth / Year of Inception / Annual fee. Asterisk (*) indicates 4 or 5 star rating from Morningstar. Data accurate as of 27 December 2017. Large Cap funds FCNTX - 12.58% / 1967 / 0.68% * FMAGX - 16.05% / 1963 / 0.68% FMILX - 13.43% /1 992 / 0.54% FOCPX - 13.82% / 1984 / 0.84% * FTRNX - 11.84% / 1958 / 0.74% * FBGRX - 11.69% / 1987 / 0.70% * PARWX - 12.84% / 2005 / 0.95% * [Not a Fidelity fund, but available for purchase through Fidelity] Mid Cap funds FLPSX - 13.86% / 1989 / 0.68% * FDVLX - 12.27% / 1978 / 0.67% FLVCX - 12.33 % / 2000 / 0.80% Small cap FCPVX - 11.56% / 2004 / 0.99% * [Closed to new investors] International FISMX - 14.35% / 2002 / 1.34% * Other/Sector/Specialty Funds FSRPX - 13.78% / 1985 / 0.78% * FDLSX - 14.07% / 1984/ 0.80% * FDFAX - 12.69% / 1985 / 0.76% FSCHX - 14.25% / 1985 / 0.80% * FSPHX - 15.78% / 1981 / 0.74% * FBIOX - 13.58% / 1985/ 0.75% FSPTX - 13.21% / 1981 / 0.77% FSCSX - 15.99% / 1985 / 0.76% * FSRFX - 12.99% / 1986 / 0.83% * FSELX - 12.46% / 1985 / 0.77% * FBMPX - 12.42% / 1986 / 0.82% FSDAX - 12.16% / 1984 / 0.79% *
ACR (4 months ago)
Agreed. I never understood why he talks down about index funds when they are far superior to what he recommends. If he just simply recommended VTSAX on this channel he would be a financial savior.
Chong Yang (4 months ago)
At what age do you buy term life insurance? 30 years old buy 30 years until you hit retirement age for 401k? 35 year old buys 25 years of term?
Jestic (4 months ago)
Peggy Helton yes you can get a large death benefit policy just not a long term policy...
Peggy Helton (4 months ago)
jestic faith - If you are young you can get a Large Life Insurance Policy very cheap. If you get life insurance early and keep it up it will be much cheaper than looking for life insurance in your 30’s, 40’s, etc.
Jestic (4 months ago)
34/mo for $1million?? i think you might need to read more into your policy....
Christine C (4 months ago)
Not until you have a wife and family to protect.
BlackWorldTraveler (4 months ago)
mwall444 I've met so many through the years in their 20s with no kids and not married with life insurance. Also some that have insurance on their girlfriend and even her kids at times and forget while still auto paying the monthly premium years after they break up. Those agents are good. And the reason I invest in certain insurance company stocks.
Eddie Shin (4 months ago)
how is insurance is an investment, any kind of insurance for that matter??
Brian Howard (4 months ago)
Should military members have separate life insurance? In 2 months I’ll be in baby step 4
Amanda Johnston (19 days ago)
Brian Howard yes absolutely. I use to be active duty and my husband still is. You want 10 x the coverage of what you make a year. I think Dave says ten, double check. But it’s so important to have one outside the military because you never know when you might get out, be forced out, or want to get out.
Brian Howard (19 days ago)
Amanda Johnston we have life insurance as active duty, I’m just wondering if I should have another policy to include the one we have
Amanda Johnston (2 months ago)
Brian Howard what do you mean separate?
elosmilealways (4 months ago)
These pyramid schemes always use your friends to get to you
droptozro (4 months ago)
$300/month.... wow yeah you got taken. You'll get $400k per person for about $18/month each in term insurance. $300 or $36? Easy answer.
Isaiah Smith (4 months ago)
I always thought life insurance is a joke to the wise thinker. Normally people would laugh at whoever thinks like this, but im glad an older experience multi millionaire backed up my thoughts
Stuart Hughes (4 months ago)
This is old!
Stuart Hughes . Might be old but some people need to hear again or some people first time hearing it.
ModernCicero (4 months ago)
Sound advice here. Life insurance is NOT an investment vehicle.
RG 306 (4 months ago)
It’s an investment if you never saved money in your younger years, which let’s be honest there are a lot of people who haven’t saved enough or at all.
DavinR16 (4 months ago)
It’s an investment to whom ever has it and dies first lol
Stretch (4 months ago)

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