So Dave Ramsey is RIGHT. 😊😊😊😊 • The only Annuity that is fairly priced and transparent is a SPIA • The vast majority of Annuities have opaque strategies and fees. This is not an accident. Insurance companies have themselves to blame
He’s right so long as people can navigate the behavioral aspect of a 100% stock portfolio. Even Fixed Indexed Annuities will outperform bonds with less risk though. Roger Ibbotsen, Nobel Laureate, did lots of studies on this.
David, Thanks for the informative video. I believe it's, my case, very timely. I watch your videos with great interest. Last year I started getting with the program of revamp of all my portfolios to reduce taxes and to start making sizeable Roth conversions. Thanks to you I believe I'm on way to reduce my tax liability toward zero. I'm looking through that study, on page 26 under the topic of Non-US investors I find a reference to the 35%/65% allocation to Domestic / International. It appears to me that authors are saying that Non-US investors should have that allocation. For US investors the study, to me, indicates US investors should maintain a 50/50 Domestic/ International investments strategy. What say you?
@@davidmcknight8201 Hard to consider the data when there’s an angle. That said it seems all of the options have benefits and I’m considerations. I’d probably hedge them
Recent? Dave hasn't been in this studio for years. The show isn't even called the Dave Ramsey show anymore. It's not hard to find, like you, it's on youtube!
@@DavidMcKnightit’s still his show and he is there all the time, he just making his show last past his retirement, and yes he’s consistently wrong on investments
TBH, I would probably have a majority stock market position in retirement. The only difference is that I'm not planning on barely getting by in retirement. I'm planning on having so much even if the market goes down it is mostly irrelevant for me as I would just live off of the SP500 dividend at that point, so why would I need any bonds when it's unlikely the dividends for the general market will drop 50% suddenly, only it's overall value would. If the general market dividends dropped 50%+ I think I'd have bigger concerns than whether my money is in stocks or bonds.
Once you get past "muh baybee step" #1, Dave Ramsey gets it wrong a lot of times. Not sure how he got known as a "financial guru". A lot of his financial advice is laughable at best, downright fraudulent at worse.
Dave Ramsey became known as a financial guru because if you picked 1000 random people at random, just pick the next 1000 americans you see walking down the street, and giving them Dave's advice will lead to better outcomes than any other financial advisor. Thats because the average american has too much debt, too little sense, spends too much, and saves too little. Dave's advice is for the average american, and everyone dumber than average, AKA 50%+ of the population
We live in a free country. And Dave Ramsey has helped more average Americans get out of debt and build wealth. • Feel free to articulate your financial plan and let your fellow citizens vote on it. Certainly no one has a monopoly on financial planning ideas. • I will gladly weigh your strategy and adopt what makes sense
So Dave Ramsey is RIGHT. 😊😊😊😊
• The only Annuity that is fairly priced and transparent is a SPIA
• The vast majority of Annuities have opaque strategies and fees. This is not an accident. Insurance companies have themselves to blame
He’s right so long as people can navigate the behavioral aspect of a 100% stock portfolio. Even Fixed Indexed Annuities will outperform bonds with less risk though. Roger Ibbotsen, Nobel Laureate, did lots of studies on this.
The podcast episode is not recent, it's around 10 years old. Not that it matters of course
Thanks for the correction 👍
I’m leaving towards a 100% allocation.
What % of your personal net worth is in an annuity?
0%. I’m only 51.
No way I'm going to pay an insurance company for an annuity.. no way
Yes, he's riding on the coattails of Dave Ramsey, but as soon as I see it isn't genuine, I'm moving on. I only have time for the man and his team.
David, Thanks for the informative video. I believe it's, my case, very timely. I watch your videos with great interest. Last year I started getting with the program of revamp of all my portfolios to reduce taxes and to start making sizeable Roth conversions. Thanks to you I believe I'm on way to reduce my tax liability toward zero.
I'm looking through that study, on page 26 under the topic of Non-US investors I find a reference to the 35%/65% allocation to Domestic / International. It appears to me that authors are saying that Non-US investors should have that allocation. For US investors the study, to me, indicates US investors should maintain a 50/50 Domestic/ International investments strategy. What say you?
I’m like 50/50 stock to cash at 57 , I can’t take seeing my account loosing 40 percent, Dave doesn’t need his money and said so.
As the paper pointed out, Bonds are horrible way to protect you.
HYSAs are subject to wildly swinging interest rates. Annuities much less so given insurance companies widely diversified general accounts.
This seems like a sales pitch
Putting that aside, what did you think of the facts I laid out in the video?
@@davidmcknight8201 Hard to consider the data when there’s an angle. That said it seems all of the options have benefits and I’m considerations. I’d probably hedge them
It is!
Recent? Dave hasn't been in this studio for years. The show isn't even called the Dave Ramsey show anymore. It's not hard to find, like you, it's on youtube!
I already thanked another commenter for pointing it out. It was my mistake.
@@DavidMcKnightit’s still his show and he is there all the time, he just making his show last past his retirement, and yes he’s consistently wrong on investments
TBH, I would probably have a majority stock market position in retirement.
The only difference is that I'm not planning on barely getting by in retirement.
I'm planning on having so much even if the market goes down it is mostly irrelevant for me as I would just live off of the SP500 dividend at that point, so why would I need any bonds when it's unlikely the dividends for the general market will drop 50% suddenly, only it's overall value would.
If the general market dividends dropped 50%+ I think I'd have bigger concerns than whether my money is in stocks or bonds.
Good plan.
It’s weird for a 30 year old to have 30% of their money in bonds.
I wouldn’t.
That’s good advice, replace your bond exposure with some annuities.
Makes good sense.
Once you get past "muh baybee step" #1, Dave Ramsey gets it wrong a lot of times. Not sure how he got known as a "financial guru". A lot of his financial advice is laughable at best, downright fraudulent at worse.
True.
Dave Ramsey became known as a financial guru because if you picked 1000 random people at random, just pick the next 1000 americans you see walking down the street, and giving them Dave's advice will lead to better outcomes than any other financial advisor. Thats because the average american has too much debt, too little sense, spends too much, and saves too little. Dave's advice is for the average american, and everyone dumber than average, AKA 50%+ of the population
We live in a free country. And Dave Ramsey has helped more average Americans get out of debt and build wealth.
• Feel free to articulate your financial plan and let your fellow citizens vote on it. Certainly no one has a monopoly on financial planning ideas.
• I will gladly weigh your strategy and adopt what makes sense
@@Dividendflywheel True!