I always appreciate how IBC (Steve Parisi and his firm) transparently discuss commission and that all important equation: higher commissions are of less value to the end customer, while lower commissions are of better relative value.
Dave Ramsey financial education is perfectly appropriate for people with zero basic financial understanding. Basically, he can teach terms and definitions. After that, Imma say R Nelson Nash #ForTheWin
Dave Ramsey is a good place to start if you are riddled with bad debt. Properly structured WL is a powerful AND asset. Ramsey is good with getting out of debt. Steve is good at building wealth. Thanks Steve.
When he says the insurance company steals the cash value, that goes against the formula I learned on my exam: Net Amount at risk + cash value-any outstanding loans = Net death benefit. That's not even including the nonsense he tells his audience about dividends.
Personal finance is the broad net of the category, but in DR’s case it’s more appropriately branded “impersonal finance”. Even the calls that he takes from individuals, I don’t find have the due care that should be afforded an individual - there’s just not enough time given DR’s format, so I’m not devoid of respect for what is accomplished by DR for a mass market, generic advice for the mean or average caller. An individual should be able to assess that they are not receiving personalized financial advice over the span of a 10 minute phone in; but not all such individuals will realize this. 15:40 I don’t think DR would invest time to understand WLI because it’s not a product that is most suitable for the vast majority of his readership/viewership.
As a graduate of Dave's FPU, my feeling is he has done his reputation a great disservice, and has lost a good measure of my respect, personally. His ideas and plans to get put of debt, and manage your money properly are excellent. And if his belief was, that if you're struggling with your finances, you shouldn't buy into a whole life, but rather buy a term for protection at a manageable premium, that would be fine. But that's where he should stop. Not every product is right for every consumer, but some products are perfect for a lot of people. When he lays blame on an entire industry because he had a bad experience with a Northwestern product/agent, he comes off as an arrogant, uninformed person. His personality is abrasive, when it doesn't need to be.
I always appreciate how IBC (Steve Parisi and his firm) transparently discuss commission and that all important equation: higher commissions are of less value to the end customer, while lower commissions are of better relative value.
Dave Ramsey financial education is perfectly appropriate for people with zero basic financial understanding. Basically, he can teach terms and definitions. After that, Imma say R Nelson Nash #ForTheWin
Dave Ramsey is a good place to start if you are riddled with bad debt. Properly structured WL is a powerful AND asset. Ramsey is good with getting out of debt. Steve is good at building wealth. Thanks Steve.
Thanks Edward!!! 🙂
When he says the insurance company steals the cash value, that goes against the formula I learned on my exam: Net Amount at risk + cash value-any outstanding loans = Net death benefit. That's not even including the nonsense he tells his audience about dividends.
excellent video (as usual), keep 'em coming!!
Dave is a salesman, if he cant profit from a product he wont sell it.
Personal finance is the broad net of the category, but in DR’s case it’s more appropriately branded “impersonal finance”. Even the calls that he takes from individuals, I don’t find have the due care that should be afforded an individual - there’s just not enough time given DR’s format, so I’m not devoid of respect for what is accomplished by DR for a mass market, generic advice for the mean or average caller. An individual should be able to assess that they are not receiving personalized financial advice over the span of a 10 minute phone in; but not all such individuals will realize this. 15:40 I don’t think DR would invest time to understand WLI because it’s not a product that is most suitable for the vast majority of his readership/viewership.
As a graduate of Dave's FPU, my feeling is he has done his reputation a great disservice, and has lost a good measure of my respect, personally. His ideas and plans to get put of debt, and manage your money properly are excellent. And if his belief was, that if you're struggling with your finances, you shouldn't buy into a whole life, but rather buy a term for protection at a manageable premium, that would be fine. But that's where he should stop. Not every product is right for every consumer, but some products are perfect for a lot of people. When he lays blame on an entire industry because he had a bad experience with a Northwestern product/agent, he comes off as an arrogant, uninformed person. His personality is abrasive, when it doesn't need to be.
Dave doesn't like whole life because he doesn't own a whole life company.
11:45 @Steve Parisi couldn’t you have gone even leaner and got north of $1.8M CV in first year?