Why Would I Want To Borrow Money From Myself? This Makes No Sense!

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Title	:	Why Would I Want To Borrow Money From Myself? This Makes No Sense!
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Thanks for confirming this insane idea
Comment from : Michael Tran

I need money
Comment from : Amata Eloho

Aside from the amazing personal and inter-generational benefits it possesses, the Infinite Banking Concept is a practical application of sound money economics and a peaceful solution to the enormous problems central banking has caused and still causes today It is rooted in Austrian economics, which dates back centuries at this pointbr brThe commentary in this entire video is innocently ignorant at best, but in my opinion, is just foolish and grossly misleading to the publicbrbrI typically prefer to be as charitable as possible, so I’m reluctant to offer such harsh criticism, but these are people’s lives and legacies at stake - not to mention, the economic well-being of our society at large
Comment from : Bryan W Crute

I never liked Ramsey He plays everything so straight all the time He never moves outside of the box brEXAMPLE: He says NEVER to borrow money from yourself So, is it better to borrow money from a lender and pay them interest & fees when you could borrow from your 401k and pay interest to yourself with no fees? It's not the right thing to do for everybody but there are certain instances when this is absolutely the right thing to do
Comment from : Anthony CIOPPA

My PC couldn't even believe this guy asked the question and stopped playing the video for 15 seconds after the question
Comment from : F Huber

Sheesh dave almost sold me one of those life insurance policies, they sound real good
Comment from : Un Named Channel

Don't go in the tiger cage o my god! 😆😆😆
Comment from : m a cummings

Just open a vangaurd account and load up on the ETFs VOO, VIOO, VO, VGT, MGK, VAW and good dividend growth stocks like Home Depot, Visa, brCostco, target 🎯
Comment from : William Read

Dave is so dumb lol
Comment from : Abbott

You borrow the life insurance companies money, your money stays in and grows between 4-5 YOU DON'T BORROW YOUR OWN MONEY!!! UGGGGHHH
Comment from : A Edwards

Shout out to your sponsors huh Dave? Fkn clown 😂😂🤡🤡 Dude on his right holds Dave’s belt loop while his wife pegs him
Comment from : Mike D

At that point why not just borrow from an investment portfolio?
Comment from : Zach T

Funny he doesn’t mention non-direct recognition - a minor detail that crushes his views of this
Comment from : Neal Smith

That voice Ramsey did sounded exactly like Garfield 4:12 Tell me I’m wrong
Comment from : Me🌴

"why would you want to borrow money from yourself?"brbrTo avoid taxes Full stop Thats it Thats the point Don't act confused
Comment from : Random User Name 92840531

Dave, go solo!!!
Comment from : Ambers Lil Rose

Did you guys skip reverse mortgages?
Comment from : John Minogue

I swear Ramsey has people call for this 😂
Comment from : Jesse Howard

No, you're giving people bad advice because you keep telling them to buy mutual funds You're totally right about whole life insurance and debt is bad stuff
Comment from : Cosmic Coffee

😂😂😂😂 I used to work for a timeshare company
Comment from : Susie Blanco

DAVE RAMSEY STRONG🇲🇽🇺🇸🇲🇽🇺🇸🇺🇸🇺🇸🥇🇲🇽
Comment from : Juanelos G

Situation where I borrowed from myself and it did make sense I took out a 401K loan in order to increase my downpayment on a house so that I would not have to pay for mortgage insurance My 401K is not invested in high yield investments My IRA is where I invest like that With matching funds I make 125 profit in my 401K without risking losing any of it I reduced my mortgage interest expense The only additional expense is I'm paying the loan back with taxed dollars But since I received the loan tax free, the only double taxation will be on the interest I'm paying to myself when I eventually withdraw it The amount of the loan was not huge and my tax bracket is quite low so this expense will be minimal
Comment from : John Ferrell

😎👌🖖👍✌😁
Comment from : john mirbach

Heh As soon as he said "whole term life insurance" I knew this would be fun
Comment from : Matt Crouch

If my future self didn't get lucky, we had been doomed from long before he got here
Comment from : John Chorny

It's robbing Petter to pay Paul no thank you
Comment from : Kimberly Butler

That's why I got out of insurance sales
Comment from : Kimberly Butler

What a stubborn man Is he ignorant or an idiot? He said it right at the beginning He is doing better than he deserves When you take a loan from an insurance company, you do NOT BORROW YOUR OWN MONEY! You borrow the insurance company money with your money as collateral!
Comment from : Sound Money Financial Solutions

6:31 when your boss makes a joke
Comment from : gb! 510

South Park warned me about timeshares
Comment from : ThePatriots010304

"Mental gymnastics" :)
Comment from : webfreakz

“Self-banking” sounds like an oxymoron
Comment from : Al Credeur

Love you Dave but you are so wrong here - the death benefit which is higher than the cash value is higher pays out tax-free which covers the cash value borrowed So the net estate benefit is in excess of the cash value and covers the outstanding CSV loan and pays out tax-free Eg the CSV of 50k may have a death benefit of 500k so your net estate value would be 450k tax-free
Comment from : Neal Cameron

Shredded Clear and concise dismantling of the whole life as a savings vehicle argumentbrbrJust treat whole life like a really long term policy, and stay away from gimmicks Term is what you need to protect dependents for 20-25 years, security beyond that should come from the investments you've made over that 25 year period - with the money you didn't waste on whole life
Comment from : SafetyThird

HEY RAMSEY!! ANDY SHECTMAN HAS A MESSAGE FOR YOU ON ''SNAFU RADIO''!!!
Comment from : batman robin

If they borrow money to put into amc they would be millionaires
Comment from : pitbullboxing5

Only protection I get is on laptop, iPad and tv worth it if accident happens or it stops working Just because it's new doesn't mean it can't suddenly stop working
Comment from : Mr Carroll Ware

I borrowed from my 401 , payback was 45
Comment from : sir LUCIUS

I like you
Comment from : David Milhous Carter

I just bought a whole life insurance policy and a time share for this summer What? Is that wrong?
Comment from : Daniel Ferritto

Plus, there's the fee they charge every year for managing your own money
Comment from : Jonna Borosky

Iso financial advisor for hefty lawsuit you're the only person I can trust unfortunately
Comment from : Brooklynne Stewart

There’s a whole life sales snake somewhere punching air right now
Comment from : TANK SHERMAN

I have a hilton timeshare and I love it
Comment from : My Ozempic Journey

Yeah why wouldn’t you put money into a Roth IRA 🤣
Comment from : Jason Phillips

Dave is hilarious 😆
Comment from : Elsa J

Let me ask Dave the genius a question Is your home equity your money? The answer is No because you have to borrow against the collateral in your home to get the money unless you sell the property It’s the same thing with cash value life insurance The life insurance lets you borrow against the collateral in your policy because they know you are good for the money because they underwrote you for life insurance
Comment from : Allan Bartlett

Buy term at age 65 and see how much it is
Comment from : teeduck

Tiger cage I will think about that one next time I get put on a financial contract
Comment from : snapo s

Whole Life Policy: if he is asking he must have never listened to Dave for more than 15 seconds 😆
Comment from : Steven Porter

The more money you have in your checking account the less fees you have to pay, and you can even get interest checking at no cost Most everything is free banking with lots of money in it Seems unfair that banks slam low income checking accounts with all kinds of fees and ATM fees But it should motivate you to make more income to be able to have no banking fees! I use to be low income so I know the feeling of the bank making me pay service fees ATM fees and all kinds of fees just to deposit my own money
Comment from : Tony Mart

There was a point in my life where I was the bank, I didn't need a bank, until I got married :)
Comment from : Tony Mart

I went to a timeshare presentation once, and they're definitely scummy If you aren't ready to do the math yourself with a good understanding of investing, compound interest, and all, they can be pretty convincingbrbrThey also offered a completely ridiculous interest rate if I financed it (I think they offered something like 15) They said I could easily refinance with another bank later, which is a complete lie
Comment from : user-bc7cb8uu7e

Can't wait for all the comment from whole life agents Bank on yourself 🤣🤣🤣
Comment from : BunkMasterFlex77

Ramsey on a Rant I love it !!!!!
Comment from : El Chapo Jr

“Back when I had hairbrthey were scummy” lol🤣
Comment from : Jason Chunn

Whole Life and Universal Policy is way too expensive
Comment from : El Chapo Jr

I really wonder who puts thumbs down
Comment from : J Smith

How about the car extended warranty spam callers?
Comment from : Dan S

Absolutely fantastic
Comment from : Nomadic Hacker

When are people going to realize how stupid whole life insurance is 🤷🏻‍♂️🤦🏻‍♂️
Comment from : Side Hustle Steven

Dave: "No one as greedy as a time share person"brMe: "browsing shitcoin forums"br"Whats a time share?"
Comment from : Corporal Crypto

Whole Life isn't an asset that is economically beneficial for the middle and lower middle class (Ramsey's audience) Most of his advice is for people that have zero economic intelligence and not much money
Comment from : Pancho De la Verga

Can someone comment on index universal life? Isn't that tax free growth? I get that there is fees for the life insurance but let's say you max out all your retirement vehicles, HSA and still have money left over Would it be a good idea to park some excess cash there? is that tax free growth? Thanks
Comment from : Wojciech Mm

Howcome whenever these people always talk about Whole Life Life Insurance, they are always talking about the cash value but they aren't talking about the fact that the death benefit and premium are locked in for life and never change?
Comment from : Mark Bazikian