Suze Orman and Dave Ramsey discuss Bank On Yourself

It seems like every week now, someone writes us to let us know they forwarded one of my blog posts to Suze Orman and Dave Ramsey, or urged them to take me up on my standing offer to debate them about Bank On Yourself.fly on the wall

As I’ve said numerous times, I know Suze and Dave have helped many people get out of debt and get their financial act together.  However, there are two critical areas we strongly disagree on.

Neither of them has taken me up on the offer to debate me – yet. But I can’t help but wonder if they’ve ever actually checked into Bank On Yourself.

What would it be like to be a fly on the wall as Suze and Dave discuss Bank On Yourself? No need to wonder any longer, as our hidden video camera captured it all. Click the play button below…

YouTube Preview Image

In case you’re wondering, the statements made by Suze and Dave in the video about why you should invest in mutual funds and why you should avoid whole life insurance are direct quotes from their books.

And Suze really did tell the New York Times she doesn’t follow her own advice about investing in the market.

And yes, John Bogle, the founder of Vanguard – the largest mutual fund company in the country – really has written a stunning exposé about the smoke and mirrors mutual fund companies use to pull the wool over your eyes regarding the real returns you’re getting…

The conventional rates of return (we rely on) to measure performance reflect performance that is higher, and in many cases much higher, than returns earned by shareholders.”

- John Bogle1

So why don’t Suze, Dave and most other financial gurus know about Bank On Yourself-type policies?

The three main reasons for this are:

  1. Very few insurance companies even offer the kind of policy that maximizes the power of the Bank On Yourself concept
  2. Insurance agents and financial advisors who help their clients implement this strategy take a 50-70% cut in commissions to do so
  3. Probably because of reasons #1 and #2, this kind of policy is not even covered in most (and maybe all) of the training programs insurance agents take to get their licenses. It’s also not covered in the training they take to receive advanced designations, like CLU, ChFC, etc.

In fact, advisors who pride themselves on their 30+ years of experience and the “alphabet soup” behind their names often admit they’ve never heard of these kinds of policies!

That’s a big part of the reason why the Bank On Yourself Authorized Advisor Training Program was created.

To receive a free Analysis and get a referral to one of only 200 advisors throughout the U.S. who have met the rigorous qualifications, simply request it here. There’s no obligation to find out what your bottom-line numbers and results could be if you added Bank On Yourself to your financial plan.
Request Your Analysis Button
Many people have been willing to keep an open mind and look into the facts about Bank On Yourself, and people have been flocking to it, in order to have peace of mind and financial security.

But if you’re reading this, and you still have a few questions holding you back, you can find the answers here:

1Common Sense on Mutual Funds, by John C. Bogle – 2010 (updated 10th Anniversary Edition)

Comments

  1. Dan Proskauer says:

    HA ha Ha HA ha Ha ha ha HA!

    I’m lauging so hard I cant’ type!!!!

  2. Scotty Needham says:

    This is excellent! “I don’t care…12% a ____ ! ” Too funny. Let’s see more videos. Keep up the great work Ms. Yellen.

  3. Bill Liebler says:

    this was very good. I do wish I had figured out how to generate a net worth of $32M while not doing what I told other people to do. That is a good business for some. Wish I had figured it out long before I did, but as a convert to BOY I can say – glad I found it when I did. Keep up the message Pamela – and I’m glad to know you actually save/invest personally as you recommend in your book and on this site.

  4. Russ Morgan, CFP says:

    Very funny….but sad too that this is the case

  5. This video is hysterical and the message is legitimate. Stock market hype and volatility are especially dangerous when combined with “trustworthy” talking heads. Lots of people listen to bad advise and take risks they are not even aware of.

    My BoY policy has increased in value consistently and predictably while my ‘professionally managed” portfolio has moved wildly over the last few years (mostly down in value) and is clearly vulnerable to significant loss. Same for my self directed IRA funds.

    BoY plans should be a part of everyone’s investment strategy. You know the funds will be there when you need them.

  6. THOUGHT IT WAS A LITTLE FUNNY,,WITH THE DOUBLE TALK..” I MADE —%”. DONT REALLY UNDERSTAND INVESTMENTS WISH I DID…MAYBE I WOULD HAVE MORE MONEY…YOU JUST PROVED WHY PEOPLE DON T INVEST TO MUCH DOUBLE TALK..

  7. ROFL! I got 12% in the last millisecond. (I asked for 100% but my Mutual Fund said they didn’t have it right now.)

    Nicely done, but it’s sad to think Dave’s and Suze’s resistance isn’t based on honest (though needless) ignorance.

  8. Wow!! I just finished your book.. Its like you were hired by us and wrote a book on what we do!!! How can I learn about how you recommend structuring plans like this for my clients? I think I know but want to know more….our custom whole life policies, with puar, and opp are powerful tools! I know that we are designed to do precisely what you are talking about!!

  9. I’m not surprised in the least!

Trackbacks

  1. [...] This post was mentioned on Twitter by Patrick Baird, Pamela Yellen. Pamela Yellen said: Almost every week, someone tells us they sent one of my blog posts to Suze Orman and Dave Ramsey, or urged them to… http://fb.me/DMaeGTbN [...]

  2. [...] a fly on the wall and watch Suze Orman and Dave Ramsey caught on video  discussing Bank On Yourself, the subject of my best-selling [...]

  3. [...] a fly on the wall and watch Suze Orman and Dave Ramsey caught on video  discussing Bank On Yourself, the subject of my best-selling [...]

  4. [...] a fly on the wall and watch Suze Orman and Dave Ramsey caught on video  discussing Bank On Yourself, the subject of my best-selling [...]

  5. [...] a fly on the wall and watch Suze Orman and Dave Ramsey caught on video  discussing Bank On Yourself, the subject of my best-selling [...]

  6. [...] a fly on the wall and watch Suze Orman and Dave Ramsey caught on video  discussing Bank On Yourself, the subject of my best-selling [...]

  7. [...] a fly on the wall and watch Suze Orman and Dave Ramsey caught on video  discussing Bank On Yourself, the subject of my best-selling [...]

  8. [...] a fly on the wall and watch Suze Orman and Dave Ramsey caught on video  discussing Bank On Yourself, the subject of my best-selling [...]

  9. [...] a fly on the wall and watch Suze Orman and Dave Ramsey caught on video  discussing Bank On Yourself, the subject of my best-selling [...]

  10. [...] a fly on the wall and watch Suze Orman and Dave Ramsey caught on video  discussing Bank On Yourself, the subject of my best-selling [...]

Speak Your Mind

*