Dave Ramsey is Right!

For anyone who knows me this is going to raise some eyebrows, because of how outspoken I am about the misinformation campaigns of the highly popular Dave Ramsey.

Now, don't get me wrong, Dave's program "Financial Peace University" or "FPU" is a no-nonsense way for the financially illiterate to gain control of their finances and establish the foundation of their journey to financial independence. Dave is a marketing genius, and he has been highly rewarded for his ability to market to the 95% of the population who literally knows NOTHING about how to manage their money. For this I give him due credit, and respect his business acumen. He is not and idiot; in fact, he is highly intelligent: He's just WRONG...

The biggest problem I have with Dave Ramsey is his partial truths on topics which would allow his subscribers to achieve true financial freedom. He advocates for using only cash, having zero debt (other than your 15-yr mortgage), and dumping all of your excess capital into his "Magical" (I would use the term "Bullshit") 12% mutual funds which he never specifies, and shows zero proof actually exist. I'll let you in on a little secret...they don't exist!

One of the biggest partial truths (which is the same thing as a whole lie) is his stance on whole life insurance. It's difficult to do a Google search on Dave Ramsey without having one of his articles, podcasts, or videos admonishing whole life insurance popping up near the top of the search. Dave HATES whole life insurance and he's more than happy to condescendingly speak his piece on the subject. The problem with this is that Dave is using another one of his half-truths (remember, we call them lies in the real world) to justify his stance as the subject matter expert on the topic of life insurance.

Here's what Dave recommends on life insurance: Buy enough TERM insurance to replace your income for 10-years and invest the rest in growth stock mutual funds that achieve 12%+. This means that if you earned $100,000/yr then you should have a $1M Term policy and invest what you would have spent on the same coverage whole life policy into his mythical 12% growth stock mutual funds (which ones are those again, Dave...?)

I'm not here to try and convince you one way or the other to buy high cash value whole life insurance, nor am I here to try and dissuade you from investing in mutual funds. What I AM here to do is expose one of the many half-truths/lies that Dave Ramsey uses to inaccurately self-anoint himself as the end-all-be-all when it comes to life insurance.

Here's a weird thought: How about bringing on an ACTUAL life insurance agent to discuss the opposite side of the coin, Dave? Even if your stance on highly customized whole life policies remains unchanged after the discussion, I would respect the gesture and chalk it up as a "To each their own" decision. However, Dave's pride and arrogance get in the way of finding the truth about many topics. He is absolutely correct in certain regards to finances, but he has used his popularity and success to limit people who unquestioningly follow his teachings to a minimalist lifestyle filled with meager returns.

In this, the 2nd video in a 5-part series I am doing on using highly customized high cash value whole life insurance policies to "Bulletproof" my wealth, my friend and creator of the "Bulletproof Wealth Strategy," Tom Laune and I discuss how Dave Ramsey is, in fact, 100% right about whole life insurance.

Wait...whaaaaaat!?!?

Yeah, you heard me, Dave Ramsey did get something about whole life insurance correct. There's obviously much more to this story than I'm letting on (Uh, oh, did I just pull one of Dave's "half-truths" out on you? Haha!)

Check out Tom's website, loaded with tons of free videos about his Bulletproof Wealth Strategy: www.https://bulletproofwealth.info/

I really hope you guys enjoy this video, because it can absolutely change your life and exponentially increase the wealth you can one day pass on to your heirs. All I ask is that you keep an open mind when viewing these videos. If you get to the end of them and decide, based on using the facts of the case, that I'm out of my mind, GOOD! I highly encourage my viewers to use their own critical thinking. That is probably the biggest difference between entrepreneurs and Dave Ramsey: Dave panders to the financially illiterate; those who are easily persuaded to follow someone without question or challenge. Entrepreneurs use the facts, understand and analyze each situation and strategy as a unique event, and execute their own judgement based on their PERSONAL financial strategy!

Here's to your WEALTH!