Title | : | Why Would I Want To Borrow Money From Myself? This Makes No Sense! |
Lasting | : | 7.33 |
Date of publication | : | |
Views | : | 85 rb |
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Thanks for confirming this insane idea Comment from : Michael Tran |
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I need money Comment from : Amata Eloho |
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I need money Comment from : Amata Eloho |
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I need money Comment from : Amata Eloho |
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Aside from the amazing personal and inter-generational benefits it possesses, the Infinite Banking Concept is a practical application of sound money economics and a peaceful solution to the enormous problems central banking has caused and still causes today It is rooted in Austrian economics, which dates back centuries at this pointbr brThe commentary in this entire video is innocently ignorant at best, but in my opinion, is just foolish and grossly misleading to the publicbrbrI typically prefer to be as charitable as possible, so I’m reluctant to offer such harsh criticism, but these are people’s lives and legacies at stake - not to mention, the economic well-being of our society at large Comment from : Bryan W Crute |
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I never liked Ramsey He plays everything so straight all the time He never moves outside of the box brEXAMPLE: He says NEVER to borrow money from yourself So, is it better to borrow money from a lender and pay them interest & fees when you could borrow from your 401k and pay interest to yourself with no fees? It's not the right thing to do for everybody but there are certain instances when this is absolutely the right thing to do Comment from : Anthony CIOPPA |
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My PC couldn't even believe this guy asked the question and stopped playing the video for 15 seconds after the question Comment from : F Huber |
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Sheesh dave almost sold me one of those life insurance policies, they sound real good Comment from : Un Named Channel |
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Don't go in the tiger cage o my god! 😆😆😆 Comment from : m a cummings |
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Just open a vangaurd account and load up on the ETFs VOO, VIOO, VO, VGT, MGK, VAW and good dividend growth stocks like Home Depot, Visa, brCostco, target 🎯 Comment from : William Read |
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Dave is so dumb lol Comment from : Abbott |
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You borrow the life insurance companies money, your money stays in and grows between 4-5 YOU DON'T BORROW YOUR OWN MONEY!!! UGGGGHHH Comment from : A Edwards |
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Shout out to your sponsors huh Dave? Fkn clown 😂😂🤡🤡 Dude on his right holds Dave’s belt loop while his wife pegs him Comment from : Mike D |
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At that point why not just borrow from an investment portfolio? Comment from : Zach T |
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Funny he doesn’t mention non-direct recognition - a minor detail that crushes his views of this Comment from : Neal Smith |
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That voice Ramsey did sounded exactly like Garfield 4:12 Tell me I’m wrong Comment from : Me🌴 |
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"why would you want to borrow money from yourself?"brbrTo avoid taxes Full stop Thats it Thats the point Don't act confused Comment from : Random User Name 92840531 |
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Dave, go solo!!! Comment from : Ambers Lil Rose |
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Did you guys skip reverse mortgages? Comment from : John Minogue |
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I swear Ramsey has people call for this 😂 Comment from : Jesse Howard |
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No, you're giving people bad advice because you keep telling them to buy mutual funds You're totally right about whole life insurance and debt is bad stuff Comment from : Cosmic Coffee |
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😂😂😂😂 I used to work for a timeshare company Comment from : Susie Blanco |
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DAVE RAMSEY STRONG🇲🇽🇺🇸🇲🇽🇺🇸🇺🇸🇺🇸🥇🇲🇽 Comment from : Juanelos G |
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Situation where I borrowed from myself and it did make sense I took out a 401K loan in order to increase my downpayment on a house so that I would not have to pay for mortgage insurance My 401K is not invested in high yield investments My IRA is where I invest like that With matching funds I make 125 profit in my 401K without risking losing any of it I reduced my mortgage interest expense The only additional expense is I'm paying the loan back with taxed dollars But since I received the loan tax free, the only double taxation will be on the interest I'm paying to myself when I eventually withdraw it The amount of the loan was not huge and my tax bracket is quite low so this expense will be minimal Comment from : John Ferrell |
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😎👌🖖👍✌😁 Comment from : john mirbach |
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Heh As soon as he said "whole term life insurance" I knew this would be fun Comment from : Matt Crouch |
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If my future self didn't get lucky, we had been doomed from long before he got here Comment from : John Chorny |
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It's robbing Petter to pay Paul no thank you Comment from : Kimberly Butler |
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That's why I got out of insurance sales Comment from : Kimberly Butler |
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What a stubborn man Is he ignorant or an idiot? He said it right at the beginning He is doing better than he deserves When you take a loan from an insurance company, you do NOT BORROW YOUR OWN MONEY! You borrow the insurance company money with your money as collateral! Comment from : Sound Money Financial Solutions |
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6:31 when your boss makes a joke Comment from : gb! 510 |
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South Park warned me about timeshares Comment from : ThePatriots010304 |
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"Mental gymnastics" :) Comment from : webfreakz |
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“Self-banking” sounds like an oxymoron Comment from : Al Credeur |
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Love you Dave but you are so wrong here - the death benefit which is higher than the cash value is higher pays out tax-free which covers the cash value borrowed So the net estate benefit is in excess of the cash value and covers the outstanding CSV loan and pays out tax-free Eg the CSV of 50k may have a death benefit of 500k so your net estate value would be 450k tax-free Comment from : Neal Cameron |
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Shredded Clear and concise dismantling of the whole life as a savings vehicle argumentbrbrJust treat whole life like a really long term policy, and stay away from gimmicks Term is what you need to protect dependents for 20-25 years, security beyond that should come from the investments you've made over that 25 year period - with the money you didn't waste on whole life Comment from : SafetyThird |
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HEY RAMSEY!! ANDY SHECTMAN HAS A MESSAGE FOR YOU ON ''SNAFU RADIO''!!! Comment from : batman robin |
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If they borrow money to put into amc they would be millionaires Comment from : pitbullboxing5 |
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Only protection I get is on laptop, iPad and tv worth it if accident happens or it stops working Just because it's new doesn't mean it can't suddenly stop working Comment from : Mr Carroll Ware |
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I borrowed from my 401 , payback was 45 Comment from : sir LUCIUS |
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I like you Comment from : David Milhous Carter |
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I just bought a whole life insurance policy and a time share for this summer What? Is that wrong? Comment from : Daniel Ferritto |
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Plus, there's the fee they charge every year for managing your own money Comment from : Jonna Borosky |
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Iso financial advisor for hefty lawsuit you're the only person I can trust unfortunately Comment from : Brooklynne Stewart |
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There’s a whole life sales snake somewhere punching air right now Comment from : TANK SHERMAN |
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I have a hilton timeshare and I love it Comment from : My Ozempic Journey |
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Yeah why wouldn’t you put money into a Roth IRA 🤣 Comment from : Jason Phillips |
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Dave is hilarious 😆 Comment from : Elsa J |
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Let me ask Dave the genius a question Is your home equity your money? The answer is No because you have to borrow against the collateral in your home to get the money unless you sell the property It’s the same thing with cash value life insurance The life insurance lets you borrow against the collateral in your policy because they know you are good for the money because they underwrote you for life insurance Comment from : Allan Bartlett |
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Buy term at age 65 and see how much it is Comment from : teeduck |
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Tiger cage I will think about that one next time I get put on a financial contract Comment from : snapo s |
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Whole Life Policy: if he is asking he must have never listened to Dave for more than 15 seconds 😆 Comment from : Steven Porter |
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The more money you have in your checking account the less fees you have to pay, and you can even get interest checking at no cost Most everything is free banking with lots of money in it Seems unfair that banks slam low income checking accounts with all kinds of fees and ATM fees But it should motivate you to make more income to be able to have no banking fees! I use to be low income so I know the feeling of the bank making me pay service fees ATM fees and all kinds of fees just to deposit my own money Comment from : Tony Mart |
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There was a point in my life where I was the bank, I didn't need a bank, until I got married :) Comment from : Tony Mart |
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I went to a timeshare presentation once, and they're definitely scummy If you aren't ready to do the math yourself with a good understanding of investing, compound interest, and all, they can be pretty convincingbrbrThey also offered a completely ridiculous interest rate if I financed it (I think they offered something like 15) They said I could easily refinance with another bank later, which is a complete lie Comment from : user-bc7cb8uu7e |
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Can't wait for all the comment from whole life agents Bank on yourself 🤣🤣🤣 Comment from : BunkMasterFlex77 |
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Ramsey on a Rant I love it !!!!! Comment from : El Chapo Jr |
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“Back when I had hairbrthey were scummy” lol🤣 Comment from : Jason Chunn |
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Whole Life and Universal Policy is way too expensive Comment from : El Chapo Jr |
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I really wonder who puts thumbs down Comment from : J Smith |
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How about the car extended warranty spam callers? Comment from : Dan S |
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Absolutely fantastic Comment from : Nomadic Hacker |
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When are people going to realize how stupid whole life insurance is 🤷🏻♂️🤦🏻♂️ Comment from : Side Hustle Steven |
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Dave: "No one as greedy as a time share person"brMe: "browsing shitcoin forums"br"Whats a time share?" Comment from : Corporal Crypto |
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Whole Life isn't an asset that is economically beneficial for the middle and lower middle class (Ramsey's audience) Most of his advice is for people that have zero economic intelligence and not much money Comment from : Pancho De la Verga |
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Can someone comment on index universal life? Isn't that tax free growth? I get that there is fees for the life insurance but let's say you max out all your retirement vehicles, HSA and still have money left over Would it be a good idea to park some excess cash there? is that tax free growth? Thanks Comment from : Wojciech Mm |
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Howcome whenever these people always talk about Whole Life Life Insurance, they are always talking about the cash value but they aren't talking about the fact that the death benefit and premium are locked in for life and never change? Comment from : Mark Bazikian |
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Well it is tax free if you die with the policy Comment from : The Peter Dislike Show |
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Sallie mae Comment from : Jacquee Henry |
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Oof Comment from : Brendan Evan |
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S/o Columbus, OH 🔥 Hometown City Comment from : DJ Mitchell |
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Why doesn’t Dave hate MLMs as much as time shares and whole life? All scummy scams Comment from : Silvia |
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a "whole term life policy"! Comment from : The Peter Dislike Show |
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Always best to ask Dave first Comment from : White rice in my salad |
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second Comment from : Allison Acton |
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First Comment from : Amaury Fernandez |
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