this is the ramsie call of the day part of the ramsay network

thomas is with us in new york city welcome to the ramsay show hey thomas merry christmas

merry christmas to you too dave thank you so much hello gentlemen how you doing great man

what's up nothing quick question first question. First of all, I just

wanted to preface it by saying, Dave, I've been listening to your show for a while, and I really want to thank you for

all your advice. I used to be one of those people that really just thought about, well, yeah, I can afford that payment.

You know, I can afford that payment and just all of a sudden, I'm just under this massive amount of debt. And after listening to for a couple months, I've just basically restructured the way I do everything.

I'm just, you know, stop buying stuff.

I'm getting my debts paid off.

I'm within a couple years.

I plan to be completely debt-free.

So thank you very much for your advice.

My question is, I've heard you talk a little bit about whole-life policies.

Now, my wife and I right now have whole life policies.

They're good until we're 125 years old.

We have about $1.5 million in coverage.

It costs us about $680 a month to have that.

And I've heard you sort of say that you didn't think they were a great investment,

but I haven't really heard you get into any details about why you think that is. So I was wondering if you could just talk about

that a little bit and, you know, maybe I'm missing something and if I am, I'm sure you'll

hit the point. Okay, sure. Well, the overarching main companies that sell whole life, the numbers break down about like this.

Per $100 that you pay in premium, you can buy the same amount of term life insurance, 15-year-level term,

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