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Cash Out My Whole Life Policy?

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Dave giving her props when she solved her own problem better than he did is a humble move
Comment from : @murphdoesitagain

The thing Dave always does is leave vital information out firstly the cash value that is non taxable accumulated interest Secondly the insurance company fronts money in the case of death that money is the insurance company’s and your family for when you die that cash value if or when u make your premiums you will get regardless 3rd let’s say you invest in a stocks, u have a 401 k or Roth IRA the risk value is much higher than whole life Dave Ramsey is the king of blowing smoke up peoples ass
Comment from : @MYGENESIS4evrNEW

And this is why whole life is a good idea They are not keeping your money, they are just giving it back to you
Comment from : @re2914

10000 at 7 average in the stock market for 25 years is close to 750k Wtf is this whole life insurane thing? Seems like a scam
Comment from : @deathkyo

She's doing to much pray about it
Comment from : @shawngreen7160

How do you not get the cash value in the policy?
Comment from : @NickFromLongIsland

What happens when the market crashes on her 250k? Always the bet the market is going up? Given the risk and the time left in her life the policy is a good bet Is the Fed going to bail out the next crash like the last one?
Comment from : @terryglime411

“You didn’t need me, I needed you” if only the whole life pushers that call in could admit when they’re wrong like Dave can good man
Comment from : @jesusiscurtis

240 would double in 7 years
Comment from : @treycobb1636

Pretty sure she gets the full 666k for the death benefit Not sure why they subtracted the cash value It's like weighing potential loss vs certified gain Man had 5 coronaries and poor family history She should just stay the course at this rate imo
Comment from : @Omni-King2099

She will owe taxes on that 240k Prob 40k Changes the numbers a bit
Comment from : @BLAZIN68

Finances are not difficult
Comment from : @realtalk2046

I think he’s wrong at 2:37 when he says it’s a $400k policy The insurance company keeps the cash value, but the beneficiaries get the full death benefit Right?
Comment from : @ericwaters

I wish she would return to tell us how his bad advice is affecting her or not I hope her spouse is doing well
Comment from : @horizongrowthacademy

Cashing out in Florida no taxes it’s worth the move
Comment from : @Undermineded-333

Our company teaches how to buy term and invest the difference Started out as an FPU instructor I get to assist clients on doing what Dave teachesmost rewarding career I have ever had
Comment from : @krissifaith6709

she has been paying 10k PA from 1997 for 25 years which is 250k she did not even break even She only has 240k in cash value Horrible product
Comment from : @r4rasa

104 years Na cash out now and days enjoy the money before kicking the bucket😅😅
Comment from : @fordresurrectionest9556

Well, I just got resold on Whole life! Why on earth would anyone, understanding money, have a term life policy, what a joke! Most of the comments here are typical of "Keynesian" economic math I'm scrapping banks altogether, and going Whole life Don't just listen to a financial planner or any of those people, read and do research Every approach to term life I've seen is a huge waste of money, but if you have a 401(k) you're used to wasting money With a Whole life policy, I would definitely not waste money in the stock market, have you peole seen the multiplier tables, amortization tables? Average mutual fund is 4-5, 6 if you get lucky (the ups and downs of the market), and the bank charges you interest on a load, so throwing your money away there too(?), credit cards same, consumer debt, same, and you people are fretting about small money? The S&P doesn't even return that kind of interest, in fact over time (the stock market isn't always up), it loses money 2008 is a prime example (heck, 2020-2024 has been awful) When I hear negative on anything, I always research it They're usually hiding something!
Comment from : @jamestriplett2876

Husband had 5 bypasses???? Probably needed to take care of himself Especially if the men in his family dont live long My father is 75 and car drive and still works i am 46 amd the eldest in my family, and I am in the gym three times a week This dude needed to take care of his health after the first bypass
Comment from : @2025fambam

Exploring US stock trading from Australia changed how I view investing With a 30 surge, I gained about $50,000, But, it also revealed the complexity of its market factors it demands skill and strategy
Comment from : @JosephGodwill9h

She could use the cash value to pay the premium on the policy
Comment from : @ML-qj9fq

This advice is absolute malpractice brbrShe owns an appreciating asset, that cash flows but unfortunately doesn’t understand what she has Even more unfortunate she asks an equally ignorant person with an agenda what to do brbrWhether you like whole life policies or not she’s just been given permission to light money on fire It’s criminal brbrI can never tell if Dave is painfully ignorant or deliberately dishonest, either way this is really bad
Comment from : @AndrewHansen-b8c

Its an amazing product Whole life is the way to go
Comment from : @chrisventura1881

That man isn't dying anytime soon She'll probably go before him, truth be told😊
Comment from : @GodessIsabelRaina

Question anyone Does anyone know how Globe Life can sell life insurance so cheap❓️are they trustworthy❓️🤔
Comment from : @GodessIsabelRaina

Take a loan on the cash value RIGHT NOW, keep paying the premiums and set the dividends to go to repay the loan
Comment from : @reidbalzer9514

Dave is so intentionally misleading it's criminal Just buy term from his website is all he cares about
Comment from : @ericklarman7049

Whatever you do do not use Northwestern Mutual that was still your money and I got the receipt to prove it
Comment from : @Airmanmx1

Comment
Comment from : @dylankramer9249

If my maths is right, she’s been putting in $10,000 a year for 26 years, that’s $260,000 she has contributed And her cash value is $240,000?! These damn whole life insurance companies need to be put in prison
Comment from : @ChristopherNunn-hn6oc

11 return on investment bullspit and as we all know the market never goes down plus taxes cut the crap dave
Comment from : @Inyourpowero1

Christian Motivational Speaker is the beneficiary of a 666k death benefit
Comment from : @kennykistler6735

9 years at a more conservative 8 investing the $834 per month they already are That gets them to nearly exactly $666,000
Comment from : @JasonGroom

They must be rich I pay $500 a year on mine and think it's too much
Comment from : @erickanew

What's the tax impact?
Comment from : @dorothyhodder203

666 lol
Comment from : @barnabascollins4625

I love her!! Smart lady
Comment from : @Cyber_Diva

This is the only time I’ve ever seen a Caller stump Dave I guess age does come with smarts lol 👍🏽
Comment from : @kamakazecam

Ramsey team: posts about cashing out whole lifebrbrMe, who has no whole life: interesting
Comment from : @Mrqwerty2109

An 11 return on investment Dave?! That's egregious brbrIf caller has an advisor and insurance person looking out for their best interest, they all sit down together // Note 600k of death benefit only Growing to 666 in that many years Doesn't sound like a great policy mix Probably should have been suspicious of this up frontbrbrI like cash value for flexibility when markets suck the wind out of investments during retirement/ btw: cash value does not equal surrender value
Comment from : @tbopens41

Reduce pay up the policy, take a policy loan for $250k, take the 10k of premium that you were putting in and invest it that makes the most sense You get everythingbrbr-$250k in handbr-Still have about $250k of DBbr-No more premium duebr-Invest the 10k a yearbrbrAnything other than this is bad advice… Like REALLY bad advice
Comment from : @6040adam

This woman contributed 10k a year for 27 years With compound interest at an 8 rate, she would've had 950k Holy fucking shit
Comment from : @peterpham240

These whole life salesmen need to be in prison
Comment from : @jameshorton3692

A great example of why whole of life is a horrible product She has to roll the dice here If she had the cash value in investments since 1997, it's going to be worth a lot more than the current face value
Comment from : @maxshiraz3447

Policy loan has tax advantageif you understand the tax advantage, you cannot be fooled by buy term and invest in difference
Comment from : @pj882

Her only problem was not canceling maybe 6 years ago She had kids and only way to get life insurance, so she had no choice
Comment from : @sdsudjrtz

more simple questions that need to be asked like are there dividends that could be applied to reduce premium ? Does the death benefit increase over time ? What’s the increase in cash value every year I’m sure when all questions are answered it would make sense to keep
Comment from : @jonathangoldstein7246

Not the 666 upon death 😢😅
Comment from : @Prettyricky504

Finally he admitted he’s wrong 😅
Comment from : @ricardoalcides7184

Don't give up the whole life policy, it is an asset and possible you are now un-insurable Whole life will always be there for you and your family, great product!! 11 returns in stock market are no guarantee
Comment from : @darrend9313

It’s not genetic it’s their diet
Comment from : @Hunter2847

Why not cash out and keep the policy? Also, should she not consider an investment?
Comment from : @AaronDMiller23

Policy purchased 1997 Supposed policy maturation date of 2062 at age 102? Can that even be right?
Comment from : @humblekind4189

This is clearly a great policy for this family, and a prime example of the power (both financial and emotional) that a good whole life insurance policy can bring I’m glad Dave decided to listen here first before making a blanket statement to cancel an in force whole life policy (which I’ve seen him do before)
Comment from : @cscorona1

Or they can simply stop paying the premium…
Comment from : @pastorjacob

Be careful talk to your agent / company that issued policy - if you cash in the policy there are tax consequences- you may want to keep policy and withdraw premiums you have paid - and you can invest that money- also see when it will be paid up
Comment from : @darrellyoung3602

Why cash it out?
Comment from : @Wall2000x

I'm surprised astroman hasn't comment on this video yet
Comment from : @multimeter2859

If they had invested 10k a year from the beginning they would be better off
Comment from : @ianmowbray3284

So by the end the question is, will he live at least 5 - 7 more years?
Comment from : @ericonca

people hate what they don't understand
Comment from : @madchevy121382

Dave what are you talking about
Comment from : @madchevy121382

no buy an iul and stop acting like term is for every circumstance dave ramsey
Comment from : @madchevy121382

Do not cash out Whole Life cash value, take out a policy loan insteadbrIt is called an "& asset" for a reason
Comment from : @infinitevelocityCA

With his poor health, I would keep it He could expire tomorrow
Comment from : @alinatamashevich3354

They also don't need life insurance if you have no kids at home and have a good retirement
Comment from : @jwise7777

I'd take it out, saves me 10k per year and invest the rest in the S&P500
Comment from : @webfreakz

That's around $30 per day
Comment from : @jdjose3268

I don’t like this advice at all He’s 62 and has had cancer in the past and health problems and family longevity is against him When he passes away the beneficiary is going to receive $660K –not $420K It doesn’t matter if $240K has been paid in over 25 years in premiums The life insurance contract says $660K -assuming no policy loans have been taken brLife insurance is not an investment folks because there are no risks Life insurance has guarantees and safety I hope she keeps the policy because of the questionable health of her husband I only wished it was a dividend paying life insurance product with growing death benefit Doesn’t sound like it is
Comment from : @jimcrowley1709

whole life is garbage too many people fall for that pipe dream the rate of return of the cash value is nothing
Comment from : @whoyoume1

Anyone notice how many times millionaires call this show
Comment from : @52CA

FV of 240K, 10K pmt, at 10 per year gets to 666K in 145 years
Comment from : @colbyallen5750

First time I've heard Dave put the mathematics ahead of the ideology
Comment from : @Lon1001

Yeah problem is he is uninsurable Humble of Dave to admit he is wrong I think the reason he didn't jump at it right away which he ALWAYS does to cash out whole life is because it sounds like he is uninsurable so he can't just replace it with some term as most people could It is kinda close because she figures he only has probably 10 years left but if I was in there situation I would probably cash out the money and go take that trip of a lifetime you have planned in your mind, sure maybe you are blowing $20k but why not, they would have over $1M still, their house is paid off and they are out of debt so not a lot of bills
Comment from : @TheDjcarter1966

Dave’s reaction to 666k at 2:13 😂
Comment from : @cw5948

Dave didn't consider the crash in 2023 that will leave everyone with just 10 of they have now
Comment from : @tracygaluszynski1868

Only time Dave ever said “no, you know what your doing “
Comment from : @jonathanmitchell7610

You promote greed 👎
Comment from : @chipsnotchunks2620

Ahh yea, another woman who just can't stop talking about when their husband is going to diepoor guy probably doesn't have it in him anymore to remind his wife that he's sitting right here when you're running the death calculations Obviously a very humble "Christian" motivational speaker
Comment from : @Nick-gk6hj

What about tax implication?
Comment from : @IsaacGTX

Cursed number
Comment from : @Naturenerd1000

She just wants to cash out on her investment That husband is like a walking mutual fund Poor guys gonna die working Would be nice for her to work and make more and for him to retire and enjoy life
Comment from : @djpuplex

Yes, cash it in and get dividends
Comment from : @mjwmontgomery

She is planning for her husband’s death ☠️! Never marry an American 🇺🇸 woman!!!
Comment from : @roolyfe

Wow, Dave admitted that he was wrong This is like sun rising from the west
Comment from : @MrSandeeparneja

He didn’t consider the other option which is to find out what the life insurance face amount would be if they took a reduced paid up optionbrThat life policy has been based on a time when interest rates were higherbrPlus, her husband is no longer insurablebrAnd everyone dies…
Comment from : @michellemorford349