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Old 08-26-2016, 03:34 AM   #21
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I agree I believe Dave Ramsey is on to something

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Old 08-26-2016, 10:18 AM   #22
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While I am not willing to subject myself to 7 1/2 minutes of Dave Ramsey, the notion of buying term and investing the difference has been around for a long, long time.. early 80s or even before that so he isn't breaking any new ground.

Whole life does have its uses, particularly for situations where permanent insurance coverage is needed for business buyout or estate tax purposes. While I would not necessarily advocate that someone buy whole life, the whole life policy I ignorantly was sold in 1977 has turned out ok... if I die tomorrow the annual return will have been over 7.5% after-tax and if I cash it in tomorrow my after-tax return would be about 4.5%.

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