Why Infinite Banking is a SCAM! | Reaction to Dave Ramsey’s Video | Wealth Nation

Whole life insurance gets a bad reputation. Let's clear up the misunderstanding...

===========================
Ways to Work with Us
===========================
⚡Start a Life Insurance Policy? Complete our new client application

===========================
Watch This Next:
===========================

===========================
Subscribe to our channels:
===========================

===========================
Connect with us!
===========================

===========================
Disclaimer:
===========================
Wealth Nation provides content for informational purposes only. While we aim to offer accurate and up-to-date information, always consult with qualified professionals before making any retirement, tax, or legal decisions.

The Infinite Banking Concept® is a trademark of Infinite Banking Concepts, LLC, with which Wealth Nation is not associated or endorsed.

===========================
In this video, we carefully examine the arguments put forth by Dave Ramsey, a prominent personal finance expert, and provide a counter-perspective on the concept of Infinite Banking. We explore the underlying principles, potential drawbacks, and hidden costs that may make this strategy less effective than it appears.

[WealthNation]

✍🏾 Are you ready to Start a Policy? Complete our new client application.

[anothercomment-]

I like and respect that you two are students of Dave Ramsey and still trust a lot of what he says but you think for yourselves and aren’t afraid to say it how you see it - it’s so much better than when people follow people 100% blindly just because they like a lot of what they say - great job!

[michaelb.]

Dave is great for helping or should I say motivating you to pay off debt after that completely ignore Dave and educate yourself and get other perspectives.

[EdoHannibal]

Dave said don't buy gold in 2004 and I listened to Dave in 2004! I wish I would have ignored Dave and purchased gold in 2004.

[whyme]

This makes no sense. People who listen to this advice should really seek a CFP vs Insurance agents who make substantial commission based on selling these policies and isnt a fiduciary.

[joselee]

I drank the DR cool aid too and I still respect what Dave does but I agree with you guys. Another thing that is happening with Dave’s advice is the 60 and 70 year olds who outlived their term policies and never really invested and now can’t even get a term life policy.

[lwsgoto]

I would prefer to see some illustrations to show in money terms what happens in infinite banking vs other types of policies.

[InvestedLifestyle]

They don’t mention that in a bank you can borrow hundreds of thousands of dollars, example is when we bought a house, we borrowed 600k without collateral, with “infinite banking” you can only borrow 80-95% of your cash value. So you mean if I want to buy a house I have to somehow get 700k to give to a life insurance cash?

[DarinApplegate]

I am totally grateful for Dave Ramsey and FPU because I am a graduate and my dad was even an instructor. That being said if I followed exactly what Dave said to do I would have been left in a foreign country without any access to my own funds. I have traveled around the world 3 times yet he said there is no reason for a credit card.. I've had my bank shut down my debit card for 3 days without any way to contact them. Sorry Dave, I choose not to be homeless in Doha. Dave shouldn't have such a smug attitude about things he really hasn't researched. Dave 90% awesome thank God for him and 10% Insane and needs to zip it.

[robertcalhoun]

I really struggle with these people because they do not do a great job of simplifying what infinite banking is. I understand the theory but the practicality is not well described in none of the the videos. Each is an hour long plus...

[bldcyfy]

Just found you folks...better late than never! You two are crystal clear and that is a godsend. Thank you.

[jpostell]

Thank you for simplifying your explanations… super helpful video!

[jshock]

Traditionally we have two options when we buy anything :
1)Finance it
2)Pay Cash
Dave Ramsey is the cash guy. Obviously that's better than financing and paying interest. But paying cash is self financing. You lose the ability to earn on your money when you pay cash. Infinite banking gives us a third option, pay cash while still earning on your money.
3) Infinite Banking

[wvnova]

If you invest in your mindset, skill sets and network you wont have to cut back on expenses and live like a pauper . Your mind is your greatest asset there is no way you can invest in it coupled with taking action and not increase your income. I'm not sure my comments are relevant to this video, I was reading the comments.

[elvinmaldonado]

You guys are awesome... the best info outhere. Keep it up . Great effort and content.

[LL-tvxc]

Jus stumbled on your channel. Very informative and enjoyable. Thank you.

[SPAMOK]

He did the exact same thing when he compared a HELOC to a traditional mortgage (to pay your home off faster). He explained an amateurized loan using simple interest. Two completely different things. His suggestion was to make extra payments, not replace one loan with another (No matter how financially beneficial).

[thiessyboyyy]

Down with Dave!!! Thank you guys for explaining his video. Having clarity on insurance from level headed people is what the people need!

[KeiSpeaksLife]

This video was really good. Great explanations. Easy to follow. Thank you both.

[uwarrior]

"Dave Ramsey is rambling and deflecting" goes on to ramble and deflect 😂😂.