Heated Debate Between Infinite Banker and Dave Ramsey

The Ramsey Show Highlights

Ramsey Network

Self-improvement, Education, Investing, Business

4.6 • 682 Ratings

🗓️ 19 September 2023

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

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Summary

Today's episode features Dave Ramsey & Jade Warshaw. The Ramsey Show Highlights is a quick, daily dose of advice on life and money in under ten minutes. Hear from experts like Dave Ramsey, Ken Coleman, Rachel Cruze, Dr. John Delony, George Kamel & Jade Warshaw. Part of the Ramsey Network. Delivered to you seven days a week. Budget for free with EveryDollar: Click Here Learn more about your ad choices. https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Brought to you by the Every Dollar app. Start budgeting for free today. Jim is with us in Nashville.
0:07.9	Hey, Jim, welcome to the Ramsey Show. How can we help? Hey, Dave, glad to talk to you.
0:12.8	You too, man. Enjoy your show. Thank you.
0:14.5	All right. I am calling in response to a video I saw recently that you claimed infinite banking concept was a scam
0:24.3	and actually got quite pissed off about it. So I do not agree with that in certain points that
0:32.3	you made in that video. And I have set up a policy for my son when he was one years old.
0:40.6	He's five now.
0:41.7	I'm sorry.
0:43.6	Say that again?
0:44.7	I said, I'm sorry.
0:49.4	Yeah, so am I sometimes.
0:51.6	No.
1:00.5	So I set that policy up for me. He was one years old. Um, it has a $500,000 face value. We pay $5,373 a year for 13 years. And it's paid up at that point.
1:12.2	There's a few points that I wanted to discuss that I just didn't agree with.
1:18.5	Do you want to just kind of take one thing at a time?
1:21.0	Sure, that's fine.
1:22.2	Okay.
1:23.6	One of the main things was that so you claim that the cash value dies with you, and you only get to face value paid out.
1:33.5	That's true.
1:34.6	Well, it's not true if you reinvest the dividends back into the policy.
1:40.0	Dividend reinvestment is not cash value.
1:43.6	Dividend reinvestment is because you have a mutual company,
	...

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