I Trash People for This
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- Опубликовано: 25 фев 2024
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The best combination of personalities in the Ramsey organization is Dave and Rachel. They are both great on-air personalities, but the fact that she is his daughter and can be more direct with him than any other personality, while still making things funny and entertaining, really makes them shine as a team.
I agree. They're my favorites as well.
I gotta say i love all of their personalities but Jade is my favorite. I think only Dave is more direct than she is.
27 and owning home in irvine, dude is raking it in
I was surprised when I heard that because I live close to Irvine
Most likely a trust fund baby.
@@15KHPCLUB He said he and his wife make a good living so I have no reason to doubt them. Plenty of high earning 20-somethings in Irvine
@@15KHPCLUBmost likely you're jealous
@@SnifferSock Most likely you’re gullible.
I think this was actually one of the most enjoyable "podcasts" that I've listened to from them. Most of them are good but I feel like this was funny yet so helpful and really well rounded responses.
it's amazing callers call in asking certain questions as if they don't already know the answer they're gonna get.
I hate whole life insurance, almost as much as I hate annuities. The money you use to pay into it is post tax and if you liquidate the policy, you have to pay tax on it again. It’s also got very poor return…
I hate scammers that sell it more than the dumb product itself. I have a little sympathy for young people that got hired to sell this crap not yet fullly understanding what it is they are shovelling, but that sympathy wears off as soon as their misinderstanding does.
I was watching a few days a video on the Valuetainment channel (Patrick Bet-David & Co,) and one of his guys, Adam, was hating on Dave because Dave hates Whole Life Insurance. At no one time did Adam disclose that he (and Pat) are both insurance salesmen.
Lol...shocker...eh.
Don't use love the sneaky oil salesman tactic that so many numb skills try to pull against good decent. Honest people?
I'm quite searching that Ron Paul has chuckled. Add that exact same question to himself. Whenever he found himself screwed over by the system three different times when he ran for president.
A savings bond pays more interest than life insurance
Regular brokerage account. Add SPY, VIG, VUG, VT, VTI, let cook for 30 years..
you only speak facts
VGT
SCHD
@@JWH808 Zero reason to invest in SCHD as a high earner in your 20's
It's always fun watching Rachel's expressions when you two are on together. You can see the father-daughter dynamics. Before I knew of Dave Ramsey our insurance agent tried to get us into a Whole Life policy. Something didn't feel right (not to mention the expense), so we went with Term Life instead. I guess my gut instincts were working :-)
Victor, just let your father in law know that you would like to do business with him but, that you would like to open up a term insurance policy instead. No relational problem and you are still getting something that’s beneficial for your family.
Depending on who your dependents are, and what wealth you've got stored, you may not need life insurance at all. Insurance NEVER a good deal. You buy it when you can't afford what might happen if you don't.
0:40 seconds guy explains wanting to use whole life. The smile on Rachael's face was so funny 😂
She knew what was coming... lol
[3:11] is priceless, y'all. Got a good laugh out of it! 👍
“No hippie names” 😆👌
Victor should know not to ever mention whole life insurance to Dave. His father-in-law screwed him.
Ask FIL how much commission he's going to make on this. 60-80% the first year, and 5-10% per year thereafter.
Better to whole life insurance alternatives: Growth stock mutual funds, SPY stocks, index funds, ETFs, municipal bonds, bonds of any kind.
I wish there was a follow up idea. Okay they're maxed on 401k and IRAs. What should they do next? Brokerage account? Real estate?
This is where I disagree with Dave Ramsey: both US political parties suck, not just one.
Well yes, but one in particular is way worse and it rhymes with Lemocrats
In the same way as cat poo i worse than dog poo? They're still both poo. @@metaltera86
@@metaltera86 "Both parties are bad but the one I dont like is worse!" wow this guy definitely politics
The only one party is allowing millions of undocumented aliens to come in our country illegally
Yep, most Republicans are just Democrats driving the speed limit.
Dude...do NOT buy a freaking life insurance policy. Tell him to find another sucker. Get term life (if you really want life insurance) but buy it from an independent person. If you are maxing out 401 and Roth you can max out HSA and if you have kids you can do ESA or 529. And beyond that, open a taxable brokerage account. Or save for a house in a HYSA. Dave is being nice here. Your father in law is trying to fleece his own family for a lousy commission. He's a jerk, imo. Tell him to stay out of your business.
IF YOU HAVE A WIFE AND KIDS 💯 BUY A TERM LIFE POLICY!!!!
While you’re scrimping and saving in your 🐂💩 tax-advantaged accounts, I’m growing my business, investing into rental real estate and raking in millions.
You know, the thing that’ll earn you way more money, give you direct control over it and better tax benefits?
Also term insurance is even worse as it’s most likely to expire well before your death resulting in wasted premiums…
Educate yourself instead of listening to blatant misinformation from Ramsey Issues.
Agreed there's no reason to argue with your father in law about how to invest when you're raking in the kind of dough that this family is. Just put it in a brokerage or overpay your mortgage or whatever, they are going to retire with 7 figures easy, I cant imagine spending an extra second worrying about what to do with the rest
Moonbeam here… I agree with Dave lol
Taking a whole life policy is like using sandpaper for toilet paper.
And what's wrong with using sand paper as toilet paper?
Sounds kinky
@@RJ-cv2uwUnless you're the Hulk or Superman, you might get some uncomfortable rashes... You know I never thought about that. Do superheroes need to partake in any kind personal hygiene or does their super invulnerability biology body state prevent rashes and/or other such medical issues? Like, do they get cavities?
36 grit! OUCH!
"Don't pet me!" 😂🐶
Imagine going out to dinner with family member Dave, and you pull out your credit card when your check comes!!
Dave is loaded. Hand the bill to him and see the benjis. 💵
@@g3powerbook335 Dumb idea.
Ever heard of civil forfeiture?
Victor, also keep in mind that your FIL will lose his ongoing commissions if you cancel it. Just be prepared for that to come up. My now deceased stepmother was still collecting whole life commisions well into her 80's up until death. So that is where some of your premiums go to. It is sickening.
Just buy and sell what stocks congress and their spouses are buying and selling its legal insider trading basically.
I have whole life…because I didn’t quality for term life at the time….also, the person who solid it to me…was me…when I sold life insurance for 6 months…under the guidance of my boss… now I feel like I wasted 6k and should cancel. Any insight?
Every time I hear Dave try and guess the callers age I think about the carnival game where they guess your weight 😆
Rachel and Dave make s good combination because Rachel can disagree respectfully. Even though it sometimes pisses Dave off I'm sure that's something he likes about her
This is why he's The Papa!
I’ve noticed that most callers at the beginning say they are doing well when asked. And then launch in to their problem. If I were them I would rather respond by saying “ Well I’m doing terrible and that’s why I’m calling.”
Either they didnt tell him what they recommend him do with the money or i missed it while doing some chores and listening simultaneously
Their standard response is: once you've maxed out your retirement and paid off the house,
dump it into an index fund or a mutual fund, Here: Call this number and we'll help you find a
financial advisor who will teach you how to decide for yourself. Also, spend a little more on yourself and be a bit less stingy about tips and charitable donations. Just don't go crazy.
I love her jumper ❤❤
Completely unrelated but what is that watch Mr. Ramsey has?
That is a Garmin Epix. Great watch.
Also, "no" is a complete sentence.
I’m disappointed that Dave did not ask “do you have children?” (do you have a need for insurance? Term is the way to go)
This is my favorite duo in the show. The Father daughter chemistry is real.
Just put it in an index. IRA, HSA.
His father in law, probably have no idea who Dave is.
Did he say his house is paid off if not start paying that house down after roth and 401k is maxxed
No, he said they bought a house. Didn't say either way about paying cash versus a loan.
one big killer on whole life is that half of the initial/early amount is commission. putting the money into any reasonable investment with zero or very low fees should outgain what is possible with paying huge fees initially.
car lease is really for businesses with plenty of money that don't want to deal with ownership issues. Example, some investors put up money for a business. the manager they hired wants to drive a fancy car.
They forgot to tell him the alternative after maxing out on 401k and RothIRA
Spend it and enjoy your life
I’m 10 years into a Whole Life Insurance policy. I signed up for it when I was in college because my parents told me it was a good idea. I’m just learning from Dave that it’s not good.
In 10 more years I’ll get all my premiums back. Should I cancel the policy now & leave with nothing or just pay for 10 more years & receive all the premiums I paid for 20 years in a check?
I guarantee how you described is not how it actually works. You need to run from the policy or rather just stop paying the premiums and then what you paid in will be used up while still covering you
I would research your policy in detail to understand exactly how it works. Then I would model it out and do what makes the most sense.
Cancel immediately and put the money you're saying into the S&P500.
Whole Life policies are really strange. I cannot get my arms around them.
I feel like whether WL is a good idea depends on what you are using it for. I got mine at 23 years old and its purpose is to pay funeral expenses and debts so that they don’t become a burden to my family. Any other money I have would be theirs to keep free and clear without worrying about paying anything off. I started out $20 a month and 20 years later I still pay $20 a month because the rate was locked in. The purpose is that even if I lost my job and became very broke I could still scrape up $20 to pay my life insurance or my relatives would pay the premiums. Wheres with TL I would possibly face rate increases with age and health issues but I will pay like someone who is 23 when I get to be 63. State Farm stopped offering my policy because of the high return rate we get. Mine in grandfathered in. Also if I cash it out it’s my money not a loan. If I die without cashing out my relatives will get that amount on top of the amount of the policy.
I don't think whole life works that way. If you die, your heirs get ONLY the death benefit. The insurance company keeps the cash value. The great expense of whole life is often justified by salesmen touting the death benefit as well as the great cash value savings plan associated with it, but in the end, you are left with only the death benefit. That same death benefit could be had at a much cheaper rate with a 10, 20, or 30 year term policy. Realistically, when you get to the age of 63, if you manage your investments wisely, you shouldn't need life insurance any longer. About 80% of whole life policy holders end up surrendering their policies early and don't leave a death benefit.
Um Dave Ramsey said your company sucks! 😂
I was gifted a $75k whole life policy from my parents that makes enough to pay the premiums and I'm 33 years old. The cash value is around $10k. Should I just cash it out?
Keep it.
Imagine if they had just had that invested in an index fund and gave that to you. Wasted potential
No doubt. They started it when I was born. So only 33 years of growth. Probably would've doubled their investment about 4-5 times by now. @@TopShot501st
Cash out and invest it into a mutual fund. If you average 10% per year it will double 4 times. You will never get that kind of gain from the insurance. You won’t have any taxes because there was no actual growth based on how much was put into the product.
@@TopShot501st Imagine ditching an insurance policy that could’ve covered a potential terminal illness and death that left you bankrupt because a wealthy radio host said it was a “terrible idea.”
Wasted legacy…
What does Dave think about leasing a car when you are offered a car benefit trough your company? In short, they pay half of the leasing cost.
He doesnt like it. period
300€ a month for a new car, including repairs, insurance and taxes baked in just seems too good. I cant get that without a car benefit@@mannyjeanpierre4062
Until you lose your job.
in which case you dont have any car payments. The risk is entirely on the company offering the car benefit@@d.taylor3760
Both parties are the wrong party.
Party that keeps our borders open for foreign invasion is def more in the wrong
Which would be BOTH parties.@@intercine4986
I wished they would suggest alternative ways to invest that money to Victor. I think that's why he ultimately called them for, to where they put the money if not whole life insurance. Unfortunately, sometimes they mute the caller a bit earlier than they supposed to and don't let the conversation going
He already maxed out his 401k and Roth ira. He said this was just extra money
Uh oh. Pop sold the kids a bill of goods.
What about a 20-Pay Whole for kids w/ optional paid-up additions for the Guaranteed Insurability? Not being combative; genuinely want to learn.
I was diagnosed w/ epilepsy in my teens and MY Dad took out another Whole Life-policy for me then (we’re both P&C agents who also sell Term & Whole Life). I can’t afford insurance now due to my medical conditions, & this policy is SOMETHING for my son. This is why I like to offer Whole Life especially for young kiddos when it’s less expensive and they’re still healthy.
Given you sell both term and whole life - ask yourself why you get better commissions on whole life policies and you'll have your answer. They make more $ for the insurance companies and that money has to come from somewhere... so it's the plan buyers who ultimately get less in returns for what they spend.
Honestly "young healthy kiddos" are just about the worst candidates for whole life since their term life premiums would be rock bottom. I feel like you know (or should know) this
for the other commenters, when someone's young and healthy it's smarter to set aside savings in addition to insurance - e.g. instead of spending $200/mo on a whole life policy, buy a $50/mo term policy and put the extra $150 into growth stock. Ultimately the money in that account would grow a lot faster than whatever "cash value" comes built into the whole life policy and by the time the term is up, there'd be enough money there to renew at a lower death benefit or to just self-insure going forward. For example $150/mo for 20 years ($36k) grows to $70-100k based on 6-10% rate of return. And if the insured dies during that time, the beneficiaries would get the policy payout and keep the savings (vs whole life where the insurer takes the cash value and only pays the death benefit).
@@TS6815thank you: I do know a lot of what you said, but not all of it and very much appreciated your insight!
I get fed a rhetoric by the insurance-carriers but zero training. I understand the value of Term, but this has made me think.
so this is the guy trying to strike Hammerhand!?!
Thing Dave doesn’t factor is increased premiums if don’t get life insurance young
Father-in-law of the caller, is that you??
So Dave has family and friends with credit cards, student loans and car leases. We only need time share on our Dave bingo cards for his head to explode.
Based on her reaction, I'm pretty sure Rachel is one of the ones who "votes the wrong way."
And what would that be exactly?
@@15KHPCLUB Democrat, obv.
I think more likely also based on other interactions she has had with Dave is that she tends to be less under the assumption that she is correct than Dave and the fact that he would live say that he has family (who would know that he is talking about them) that are wrong about the way they vote caught her off guard.@@ASimoneau
I just don't get this Life Insurance thing. There's such better places to put your money.
Buy Gold!
........and "buying Gold".🥴
My financial advisor, at the time, got me into a whole life policy. I was a busy doctor, and did not investigate. He told me I could later borrow against it. Held for 12 years, which is way longer than I was associated with him, cashed it to buy a plane, and had to pay taxes on it. Probably, in the long run, I was better off than holding it.
You are still dumb today even though you are a doctor
The best thing to do is buy term insurance from him
My aunt passed and I inherited some of her portfolio and cash savings, I’m 28 with about 400k cash in savings and as usual everybody’s preaching invest, so what stocks are a good long term buy, only major purchase I intend to make is buying a home in 5years from my returns
Lucky you, I’d buy a lot of tech stocks and Dividend portfolios with that.
Don’t come to RUclips looking for RUclips advise, instead contact a fiduciary for proper guidance.
Same, I just use RUclips for research purposes, I run all my major investment through an investment adviser, the market is just too unstable to handle things on your own.
How do I reach out to a financial advisor? my portfolio has been struggling since 2022 and I’ve been holding on by the skin of my teeth.
Monica Mary Strigle’ is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
You can avoid the whole conversation about baby names by just not having any kids.
Dave does not have political arguments? Yeah right.
His friend who leased a car, more then likely got a low interest rate. Dave does not hang out with non millionaires.
I KNEW IT, rachel is a Lib…oh man…she’ll come around when she grows up lol
Dave is a a Republican! Not a MAGA sheep
All humans are sheep. @@jo4285
These clowns get offended when you tell them no tho.
Pro tip, adjust your W2 withholdings so they take $0 tax. Invest that money during the year in a HYSA. Then pay during tax time and keep profit.
No matter how well you think you changed it. It is impossible to get to 0.
You do know that the IRS will start charging you underpayment penalties...? lmao.
@@CurieBohr Bro i'm up 2600% on NVIDIA options in the past 3 months.
@CurieBohr enjoy your Rollercoaster
You have to pay for underpaying but not for overpaying it's stupid
What’s the easiest way to save 50 dollars in America?
This isn’t a riddle. Sadly enough.
You guys didn't recommend roth i.r.a.s. He said their 401ks were maxed out so that was one of the reasons they were considering life insurance. Missed that chance.
Thought he said 401k and roth
HIs 401k and Roth IRA are maxed
✝️
You'd think Dave was smart enough to realize the left and the right are 2 sides of the same coin.
Dave is a prime example of “wealth doesn’t always equate to intelligence.”
Ramsey just gave his two cents on gay marriage from someone close to you, he basically said, "Celebrate their stupid decision, but don't talk about it."
How's your dad doing mr ramsey?
I could never imagine being so arrogant and pompous that I would say out loud that the way that I vote is the "right" way. I know part of what he is doing is schtick for the show. But I also believe that deep down he really means it. Deep down Dave believes he is the smartest person in every room he walks in to. It has probably helped him build his business to where it is. But boy oh boy - I just could never be that arrogant.
He's been successful. Most people are not.
@@jimroscovius there are lots of very successful people who still retain their humility.
@@theburnetts agree. pompous and arrogance is ugly, no matter who wears it.
@@theburnettsI get what you are saying, but I do think it is a joke. Yes, he may mean it to a degree. However, to an extent, everyone believes that they vote the right way, or at least, for a better choice. If they didn’t, then why would they vote that way? Humility is important. I believe I vote the right way, but I acknowledge that in the grand scheme of things I could be wrong. If I said that I vote the right way in the context Dave said it, I would hope it would be received light-heartedly which I think was the point. Part of the joke of characterizing it as the right way is the idea that everyone believes their way is the right way which can’t be true for everyone. I think that’s what makes it funny.
And yet that's how all Americans are.
I never understood why every caller asks Dave "How are you doing" He's doing just as fine as when the previous caller asked him five minutes earlier
Thanks for dropping out. How are doing?
🤣🤣🤣
Everyone wants to hear the "better than I deserve" response
well it is called "courtesy" ;-)
You don’t understand basic phone etiquette?
I have friends who probably vote like you. I don’t engage. It’s a sound policy. And your financial info is great
Guess Dave vote Orange Donald Duck
Why is whole life so bad? Someone explain
There are plenty of videos on this channel that talk about it. Dave will explain in detail why he thinks they are bad. The cost compared to a term policy is outrageously more expensive.
@@andidede3653 Because you are paying thousands a year. And they pay less then HYSA'a.
@jimmymcgill6778 practically using your own money to borrow from it and the money disappears other than the face value when you die.
it has been answered on the show many times, but it boils down to a very expensive price for benefits that are being completely overstated by the salesmen who make huge commissions. For the average working class person with a family, term insurance is the best value.
It is a life insurance policy that includes a horrible savings plan inside it. When you die, you lose all the savings and only the face value of the insurance policy is paid out.
Comment
I’m glad I don’t have to have family dinners with Dave if he has the gaul to tell people who they should vote for. It’s their vote. They should do with it what they choose. 😂
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She's mostly on Telegrams , using the user name,
wrong party.. interesting. they probably think the same of you.
They're American. That means they don't think at all.
Some of Dave's family don't vote for insurrectionists. Wild I know.
Yeah, they instead vote for the party that's considered to be the political wing of the KKK!!! Sick, isn't it?
Dave bashing Dems again is rich. What else to expect from a boomer?