Posts Tagged ‘What Dave Ramsey doesn’t know about Bank On Yourself’


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…

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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.

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Suze Orman and Dave Ramsey: Let’s debate!

UPDATED January 13, 2012:  It’s been more than 3 years since I challenged Suze and Dave to a debate, but they haven’t taken me up on it yet.  This post sparked some very lively debate and insightful comments, so be sure to read those, too.

If Bank On Yourself is so good, why isn’t everyone already doing it?

Here’s why…

If you browse the personal finance section of any bookstore, turn on the TV or open a magazine on finance, you’ll discover that 99 out of 100 financial “gurus” will insist that whole life insurance is a lousy place to put your money. Most will recommend you buy term life insurance instead and invest the difference in mutual funds.

That’s in spite of the fact that, had you invested in an S&P 500 index fund for the past 12 years, your nest-egg wouldn’t have grown at all. And that doesn’t even factor in 35% inflation during this period!

Suze Orman & Dave Ramsey

Suze Orman & Dave Ramsey

But I’m getting a little ahead of myself. Part of the problem is these financial experts know nothing about the specially designed type of dividend-paying whole life policy used for the Bank On Yourself method

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