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🚨 Based Dave Ramsey emerges: “If we brought this back, there would be a revolution... If the tax person from the IRS had to stand in the lobby of your company, and you got paid in cash, and you had to take your cash and hand it to the...

23,851 görüntüleme • 19 gün önce •via X (Twitter)

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An angry caller confronts Dave Ramsey for calling “Infinite Banking” a scam only to walk directly into a brutal financial reality check. ​Caller: “I am calling in response to a video I saw recently that you claimed infinite banking concept was a scam and actually got quite pissed off about it. I do not agree with that, and certain points that you made in that video. And I have set up a policy for my son when he was 1 years old, he's 5 now. Has a 500 thousand dollar face value. We pay 5,373 dollars a year for 13 years, and it's paid up at that point. There's a few points that I wanted to discuss that I just didn't agree with. One of the main things was that... so you claim that the cash value dies with you, and you only get the face value paid out.” ​Dave: “That's true. That is.” ​Caller: “Well, it's not true if you reinvest the dividends back into the policy.” ​Dave: “Dividend reinvestment is not cash value. Dividend reinvestment is because you have a mutual company, and the policyholders are the owners of the company. And so the profits from the company come to the policyholder, and they use that to buy paid up additions. That is not the same as keeping your cash value. That's buying extra insurance with your overpayment.” ​Caller: “But it still works out to be having a cash value much greater than the $69,849 we put into it.” ​Dave: “But the actual cash value, not the paid up additions... the actual cash value dies with you.” ​Caller: “No, because—” ​Dave: “Yes it does. I think... oh, OK.” ​Caller: “But your death benefit is larger than your cash value, so for me, I looked at it—” ​Dave: “Because you bought more insurance! You know what a paid up addition is? A paid up addition is buying additional insurance. I understand that's why you're getting more at death. Not because you got your cash value, but because you used your policy dividends to buy additional insurance. Right? But that's different than getting your cash value. If you took those policy dividends and went and bought a term insurance policy for 100,000, well, you'd get 100,000. But that's not your cash value.” ​Caller: “Well, I have a term policy.” ​Dave: “I know, but you missed my point. You're talking about... you use the policy dividends. You use the money they send to you because you're in a mutual company to buy additional insurance.” ​Caller: “Yes, paid up additions, yeah.” ​Dave: “Yeah, if you'd buy a term policy on the side for $100,000 instead, with that same money, you would get $100,000 more than your face value. But that's not your cash value, that's additional insurance. They're different.” ​Caller: “But right... they are different. In term, you don't have cash value to borrow again.” ​Dave: “I'm aware of that. But your point was that you don't lose the cash value, and my point is 100% of the time, by definition, you lose the cash value.”

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