Why Whole Life Insurance Sucks

Ramsey Everyday Millionaires

Ramsey Network

Investing, Business, Careers

4.6 • 3.6K Ratings

🗓️ 18 September 2023

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

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Summary

Listen to how ordinary people built extraordinary wealth - and how you can too. You’ll learn how millionaires live on less than they make, avoid debt, invest, are disciplined and responsible! Featuring hosts from the Ramsey Network: Dave Ramsey, Ken Coleman, Rachel Cruze, John Delony, George Kamel & Jade Warshaw. Helpful Resources: Need Help with your investments? Click here to connect with a SmartVestor Pro. To learn more about how to plan for Retirement click here To learn more about Investing click here Create a college savings plan for your child’s future. Click here to connect with a SmartVestor Pro. Learn more about your ad choices. https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy

Transcript

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0:00.0	This episode is sponsored by Smart Vestor.
0:07.2	Connect with an investing pro for free at Ramsey Solutions dot com slash invest.
0:15.2	You're listening to Ramsey everyday millionaires where we talk investing, retirement, building
0:19.7	wealth and outrageous generosity.
0:22.9	Jeremy's with us.
0:23.9	Jeremy is in Tucson, Arizona.
0:25.5	Hi, Jeremy.
0:26.5	Welcome to the Ramsey show.
0:27.5	Thank you.
0:28.5	Thank you for taking my call.
0:29.6	How can we help?
0:31.0	So quick question, my son, young son got himself stuck into a whole life policy.
0:39.2	And of course, I want to talk him out of it, get him to invest in something else.
0:44.6	So I know the biggest hook is he came ball against his policy.
0:51.4	I know that with the 401k, you'll get penalized, which leads me to maybe neutral funds,
0:59.3	which I don't know a lot about.
1:02.2	So I was wondering what's the major difference between the 401k and a mutual fund that he
1:08.4	may be able to borrow against in the future.
1:11.9	Okay.
1:12.9	How old is your son?
1:13.9	23.
1:14.9	Okay.
	...

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