Dave Ramsey is WRONG about Infinite Banking | Why Infinite Banking is NOT a Scam
Control and Compound with Darren Mitchell · Control and Compound Financial | BNV Media
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Show Notes
On today's episode, Darren and Christina debunk the infamous Dave Ramsey video on YouTube where he tells a caller on his show why infinite banking is a scam and why this caller should stay away from this type of policy.
Point by point, Darren and Christina dissect where Dave goes wrong in his video and although he is coming from a perspective of being in the United States, as opposed to Canada, much of what he's staying/misleading still applies in Canada. Tune in now and find out why Dave is wrong!
Show notes:
00:00 - Introduction
2:16 - A caller on Dave Ramsey's show asks Dave about Infinite Banking
4:52 - Dave tries to tell the caller that he's being overcharged by the policy
12:05 - Dave thinks infinite banking is "old school whole life" done poorly and thinks they pay out nothing at death
20:20 - Dave thinks the dividend payment is the "refund of a deliberate overcharge"
23:53 - Dave thinks that since these policies cost more than others, it's a ripoff/scam
27:11 - Dave says the only reason these policies exist is for the commission the agent makes selling it
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