In a country where the San Bernadino DA characterizes Apple fighting for privacy as Orwellian, comes this news item<\/p>\n
How Fiduciary Rule May Censor Financial Broadcasters Like Dave Ramsey<\/a><\/p>\n The quick synopsis of what Dave Ramsey does for those not familiar with him and\/or living in Belize…<\/p>\n Dave recruits people who want to become “debt free”. Much of that recruitment occurs at churches because Dave loves Jesus (or the legal protection of religion). Dave then sells people a course in how to get to debt free heaven.<\/p>\n It’s pretty straight forward – the couple have to agree to work from a budget, give 10% referral fee to Jesus, eat beans and rice, stop going out to eat, don’t take vacations, get rid of your car, buy everything for cash, maybe take a weekend second job working at Walmart – basically living the American Dream™<\/p>\n Having drastically cut expenses, pay off your credit card debt and close the accounts as fast as possible. Don’t worry about your credit score. All your credit card score measures is your gullibility to become a slave to the blood sucking banks.<\/p>\n Once you have no debts and are used to living in poverty and have free cash flow, talk to one of the financial advisors (called an Endorsed Local Provider) who pay Dave a referral fee and then buy as much term life insurance as you can afford using Zander Insurance Group, which just happens to also be located Nashville, TN.<\/p>\n Everything until the last paragraph I agree with. I would just suggest an alternative is to go back to school or move to a better employment location and work to increase your income rather than living like a serf in a mobile home. Start adding things back into your life you can afford. Spend more time with your children. Create memories. Replacing credit cards with life insurance is just switching blood sucking masters.<\/p>\n The guy mentioned in the story sells annuities, which Ramsey almost always says are a bad idea, because the people pushing them get a large upfront commission that they don’t disclose, which means a huge early termination fee if you decide to back out of your decision.<\/p>\n","protected":false},"excerpt":{"rendered":" In a country where the San Bernadino DA characterizes Apple fighting for privacy as Orwellian, comes this news item How Fiduciary Rule May Censor Financial Broadcasters Like Dave Ramsey The quick synopsis of what Dave Ramsey does for those not … Continue reading