The Ramsey Show - App - There's NEVER a Reason to Get Whole Life Insurance (Hour 3)

Episode Date: November 5, 2019

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🎵 Live from the headquarters of Ramsey Solutions, broadcasting from the Dollar Car Rental Studios, it's the Dave Ramsey Show, where debt is dumb, cash is king, and the paid-off home mortgage has taken the place of the BMW as the status symbol of choice. I'm Dave Ramsey, your host. You jump in, we'll talk about your life and your money. It is a free call at 888-825-5225. That's 888-825-5225. Beatrice in Maryland starts off this hour. Hi, Beatrice. How are you? Hello, Dave Ramsey. I'm so excited to talk to you. You too. What's up?

Well, I'll give you a quick synopsis. My husband and I have done a lot of big, dumb, stupid mistakes, but we did do something smart, and that is last January we started on your program. And we have been like gazelles. We've just been going gangbusters. Cool. And we're on baby step six now. Good for you.

But I'm 62, he's 58, and now we have a big dilemma, and you're going to be the tiebreaker because my husband and I have a difference of opinion, and we haven't been listening to you long enough to know if this is like a well-known thing to do with Dave or whether or not you can give us some new information. So we've got everything paid off except for our primary house and one of our rental properties. So we couldn't decide which was the best to pay off, whether it would be the rental or the home, but we decided that the home was the best thing to pay off, whether it would be the rental or the home, but we decided that the home

was the best thing to pay off. And we have just over a million dollars in our retirement accounts. And because I'm over 59 and a half, my idea is to take money out of those accounts and just get the dang house paid off and have a better lifestyle because our payment's really super expensive. We made a lot of dumb decisions about five years ago. So how much does you owe on the dang house? The house, we owe $275. Okay.

And you have over a million dollars in your 401Ks or retirement accounts. Right. Okay. How many rentals do you own that are paid for? We have one paid for, one that just breaks even, and it'll be paid off in eight years if we just leave it as is. Yeah, and what do you owe on it? $150.

Okay. Are either one of you still working, or are you both retired? Well, so that's another glitch we ran into. Both of us became unemployed in the last year and we started our own business and it's been hit or miss, but we're sort of getting on our feet and we just, we seem to be making it. God has been so good to us. We seem to be making it and we had a reserve, so it wasn't the end of the world, but that's kind of what our dilemma is. Because we don't have a steady income right now,

do we take a big chunk of change and pay off the house, which would make our monthly life easier because our payment is almost $4,300, or do we just kind of stay the course? But, you know, I'm going to be 70 years old by the time it's paid off. So what do you owe on? You owe $150 stay the course. But, you know, I'm going to be 70 years old by the time it's paid off. So what do you owe on? Are you owe $150 on the rental? What is that rental worth? That rental is worth probably, it's a little dated.

I could probably get about, I could probably net maybe about $400. So it's worth $550? You mean net of what? I'm sorry. No, no, no. Not after my mortgage and such. Okay. So you would sell the thing for $450 and then the mortgage.

So you would have $300,000 worth of equity there. Something like that, but I'd have to pay a realtor and all of that. Okay. And the other rental that's paid for is worth what? That's probably worth about $300. Okay. I'll tell you what I would do, and you can do whatever. There's not a big slam dunk on this either way.

Okay. A couple of principles to use to help you make the decision, and the other listeners as well listening in to make the decision. Okay. I would not tell you to drain your retirement accounts down too low in order to pay off the house, principle number one. So if you told me – If you told me – I know, I understand what I'm saying, but if you told me if you told me i know i understand

but i'm saying but if you told me i had 250 000 in there or 300 000 in there and basically we're going to end up with very little 50 or 60 000 bucks after paying off the house i would say don't do that okay that's principle number one you have enough and you'd have enough left over if you paid off the house you You'd be fine. Okay? You guys are, you have a net worth of over a million dollars, and when we finish these transactions, you will still have a net worth of over a million dollars. We will just move some of them around. Okay?

Right. The net worth does not change by lowering one account and paying off debt on the other. It's a zero-sum game on net worth. So you have a net worth in excess of a million dollars, you will still. You just have more of it tied up in real estate and less of it in the accounts if you use the accounts to pay off the real estate. Now, that's principle number one. Principle number two is I know from our millionaire study, where we study 10,000 millionaires,

that the typical millionaire does have two primary areas that their wealth is in if their net worth is under $5 million. And it is in a paid-for home, and it is in their 401ks in retirement. So you are no exception to that soon. Okay? Right. And the third thing I always look at is a paid-for home going into retirement years is very necessary. Because if you live to 62 and you're in decent health, statistically speaking, you have a very high chance of living into your 90s. Average death age in America is 78 for a female, 76 for a male, but that includes infant mortality, teenage death, and so on.

So you have a real 30-year horizon in front of you that you want your house paid for because you are then controlling the largest item in your budget the expense item has gone away and is stabilized okay so the the quality of your retirement is greatly increased by having a paid for house in retirement because you're going to be there a long time you see what i'm saying those are the three things I'm looking at. I love rental real estate as an investment. I love a paid-for house more. You will pay a 15% capital gain on the sale of the rental property

that has a $150,000 mortgage and that would sell for enough to net you to pay off your residence, you will pay your tax rate, which is probably 25% to 30% ordinary income, pulling the money out of the retirement account that's a million dollars. Your taxes are going to be double if you pull it out of the million that they'll be if you pull it out of that rental house. I'm selling that rental house, and I'm going to be 100% debt-free, have one rental paid for, and my home paid for. That's what I'm going to be 100% debt free. Rental. Have one rental paid for and my home paid for. That's what I'm doing.

Yeah. Yeah. Okay. Well, thank you. It's tax efficient and you're 100% debt free when you're done. And you didn't touch your million dollars. Boom! I love it. You guys have done so good.

So proud of y'all. Very well done. Congratulations. This is the Dave Ramsey Show. Folks, let's cut through the bull. Interest rates are exceptionally low, so you're missing out if you have not called Churchill Mortgage to see if you can save money on your home loan. Lots of other companies are out there claiming great deals, but don't get lured by slick advertisements. No-cost refinance offers do not mean they're free. Churchill Mortgage has a no-bull refinance.

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Equal housing lender. 761 Old Hickory Boulevard, Brentwood, Tennessee 37027. Thank you for joining us, America. We're glad you're here. Open phones at 888-825-5225. Our question of the day comes from blinds.com. They are the number one online retailer of custom window coverings. I'm a customer. I'm a fan of this company. Started in Jay's garage, and he has exploded this business.

It is so well run to becoming the number one online retailer. You get free samples, free shipping, new promos all the time. Always use the promo code Ramsey. Michelle's in Georgia. Dave, I was surprised when another insurance agent told me that in your book, you admitted to having whole life life insurance

in your portfolio. The insurance agent lied. Michelle, I didn't say that in my book. I admitted that when I was in my early 20s that a goober from college came and sold us a whole life policy, and I was so stupid I bought it, but I canceled it once I learned mathematics. What a scumbly burger.

His belief that it would help you reduce taxes. I had asked that if you still had it and that was unknown. Because I sell life insurance, I want to do right by my customers. Is there a condition that someone should have a whole life policy? If so, why? No, there is not. Whole life, life insurance, cash value life insurance is the payday lender of the middle class.

I've been screwing the middle class for decades. No one sells whole life, life insurance except insurance people. No one believes in it in the financial planning arena that doesn't sell it. All the independent thinkers and all the people who do financial planning based on numbers and mathematics believe whole life is a ripoff and don't sell it the only people who tell you it's a good idea are people who sell it that's a pretty sucky record really if you think about it and this guy is a straight up freaking liar um no i did not say in my book I had whole life life insurance for tax advantages. I've written a bunch of books, and I really do know what's in them because I really wrote them. And it's just simply not in there.

This guy's a bonehead liar, and you really should avoid doing any transactions with him. As far as whether you should sell whole life, absolutely not. There's only two kinds of people that sell whole life life insurance. There are those that know that it's a ripoff, and therefore they're crooks, and there are those that are too stupid to understand the mathematics, and they still continue to sell it, or they've just kept their head in the sand and refuse to look at the mathematics. The mathematics are pretty simple. Whole life life insurance is roughly 100 times more expensive. So it's 20 times more expensive, I'm sorry.

So about $100 a month buys you the same amount of whole life life insurance that $5 a month buys you in term insurance. What does the other $95 go to? Since you're being charged $100 instead of $5 for the same amount of insurance. It goes to build up a cash value inside the policy, which for the first three years is zero. What do you call that? Front-loaded heavy commissions. I mean, if it's a $100 a month premium,

that means that they are collecting almost $4,000 worth of commissions before you make a dime. I don't think so. And their commission's 100% of your savings for the first three years. Look at a whole life policy. Look at the cash value buildup.

Zero, zero, zero, first three years. That's horrible, you guys. That's not a difference of opinion about, you know, a few percentage points in how our mutual fund is charged. Our mutual fund charges 5.75% for the ones that do charge commission these guys charge a hundred percent for the first three years it's unbelievable it's unconscionable and then once you do start actually having a cash value then you can calculate the rate of return on your money because we know what the insurance costs because we can compare it to term term covers the cost of the insurance so we can figure out you got 95 going in and then we can watch it grow and put that into a financial calculator and we can back out the

actual yield those of us who know how to do you know a financial transaction with financial calculator here's what you'll find the average cash value policy will yield you net of all expenses 1.2% on a whole life policy, 3.6% on a universal policy, and 4.3% net of all expenses. Now, they'll quote you 10 and 12 and all this other crap on a variable life. And so it's a horrible rate of return for long-term investing. Absolutely horrendous rate of return on long-term investing. Oh, and then when you do build up the cash value, if you have a $200,000 whole life policy and you end up with $50,000 in there after you get past those zeros and the horrible

rate of return and you finally end up with $50,000 in there after you get past those zeros and the horrible rate of return, and you finally end up with $50,000 in your $200,000 cash value policy, and you die, you know what they send to the beneficiary? $200,000. The amount of the insurance. What happened to your investment? Well, they keep it. So you have a savings account where the first three years they keep all your investment. Well, they keep it. So you have a savings account where the first three years they keep all your money. After that, they

pay you 1%, and after that, when you die, they keep your money. This is a horrible savings account. It's a payday lender of the middle class. It's absolutely ludicrous. So, no, I wouldn't sell that stuff to anybody. I wouldn't even sell that to an enemy.

I wouldn't want my name attached to the lack of integrity of selling a product like that. And if you're a whole life life insurance agent and that pisses you off, good. Because I'm a consumer advocate. I'm not here for you. I'm here for my listeners and what takes care of them and what serves them. And I've consistently said this on the air since the first day I turned on this microphone. I have never wavered from it one time. And I certainly didn't say in one of my books, you slime ball, that I own this garbage.

Unbelievable. Unbelievable. So, no. No. don't sell whole life you shouldn't sell whole life don't own whole life you should always buy term life insurance for five dollars instead of a hundred dollars do your investing anywhere else crap if you put it in a fruit jar you'll end up with more money when you die than these people. Because at least it'll still be there. It doesn't just poof, disappear. Puff, the magic dragon of finance. It's unbelievable.

It's a horrible, horrible product. Hope I wasn't unclear. All right, Caroline is with us in California. Hi, Caroline. How are you? Or Carolyn, I'm sorry. Hi, Carolyn. How are you?

Hi, Dave. Thank you so much for taking my call. I'm so excited to talk to you. Certainly. How can I help? So my husband and I are on baby step two currently, and I'm just trying to think ahead right now, try to think about the future when we're not on beans and rice. And so once the time comes for us to actually save for a house, we don't own a house, we rent. My husband's an adult, Harry. So we wouldn't buy anyways for eight to 10 years until he's out and we know where we're going to live. Once the time comes to save for a house, could we do that simultaneously with the retirement and our kids' college funds? And where should we put that money that we're saving for a house

since it wouldn't be, you know, very quickly after. Well, I would do 15% of your income in Baby Step 4 into retirement when you're at Baby Step 4, always first. Second, I would address kids' college, and third is Baby Step 6, pay off your house early. That's where, with the money that's left over after the other two, that's where I would throw the money in for a house. And, yes, I'd just use a good mutual fund for that and let it grow.

So, hey, that's a really good question. And thanks for your service. We appreciate you. This is The Dave Ramsey Show. Business leaders, if you're not using LinkedIn Jobs, you are missing out. Our Ramsey Solutions Company page on LinkedIn has over 100,000 followers. That's over 100,000 potential like-minded people our team communicates our current openings to. We also post on LinkedIn Jobs because we know the right person will have an impact on our company for years to come, and LinkedIn Jobs matches the right person with the right job. It's no wonder a hire is made every eight seconds on

LinkedIn, and over 600 million members visit LinkedIn to make connections, learn and grow as professionals, and discover new job opportunities. In fact, LinkedIn members add 15 new skills to their profiles and apply to 35 job posts every two seconds. Get started today with LinkedIn Jobs and get $50 off your first job post. Visit LinkedIn.com slash Ramsey. Terms and conditions apply so Jackie is with us in Florida. Hi, Jackie. How are you?

Hi. Thank you for taking my call. Sure. What's up? So my husband and I recently decided that we could financially, that I could financially quit my job and focus on the business. I do alterations and teach sewing classes, but I also wanted to bring in extra income. So I still freelance, but my tax preparer told me to change my business from an LLC to an S-Corp. So I just wanted to call and see if that was sound advice.

Why? I'm not sure. I guess because my clients would pay the business and not me directly. Doesn't matter. An LLC and an S-Corp and a sole proprietorship are all taxed exactly the same way. Okay. If they pay Jackie's Alterations Company and you're a sole proprietorship, which means you're running off your Social Security number and there is no entity, 100% of your income after expenses is taxable.

The same is true if it says LLC after it or if it says S-Corp. All of those pass through straight to your personal return. Okay. I've got about 60 LLCs, one S-Corp, and two trusts, and they all have straight pass-through. The only thing that doesn't do pass-through is a C-Corp and two trusts, and they all have straight pass-through. The only thing that doesn't do pass-through is a C-Corp, and you don't want a C-Corp in small business under any circumstances. Right.

Okay. Now, it might be that in your state that some of the state taxes are different on an LLC than a sub-S. That's a possibility. We had some law changes in Tennessee that made the sub-S be less advantageous than an LLC for some nuanced state taxes, but federal income taxes treated exactly the same you can write and if you hired a if you hire someone the payroll tax everything is you know your self-employment tax everything is exactly deductible the same way so i can't imagine why they would want you to do that especially with a tiny little one person a tiny little one person business like this yeah i'm not even sure you should be an llc or an escort but you are so i'm not going to worry about it.

It's not that big a deal. But you're having to file two tax returns a year, and you're having to pay your annual fees with the state to keep the LLC up, and the same would be true with an S-Corp. So I guess what I would do is ask why. Okay. And if you don't get a good answer answer it might be time to get different tax advice from a different person right because randomly suggesting i do this stuff without a really good mathematical explanation and by the way you should be able to understand the mathematical

explanation even if it is correct if you can't it, that means you have a tax preparer who has not got the heart of a teacher. And their job is not just to do your taxes. Their job is also to explain to you what your options are, and then you make a good decision. And to do that, they have to have the heart of a teacher. So I don't hire tax preparers. Got a great tax guy. World class. I mean, my stupid tax returns are as thick as a phone book, man. It's

unbelievable. This guy is incredible, and he doesn't work on our team. I have a CFO here that works in conjunction with him, and I sit down with the two of them, and we go through these pages and pages and pages and pages of stuff every year uh and i am required by the fact that i am a steward over this a manager over this for god i am required to understand enough of it to know what it is i'm signing and i'm paying for and so i get down in the weeds on this garbage every year,

which the amount of money I'm paying pisses me off too, but then I also lose productivity because I'm having to learn all this, and you get to do the same thing. You get to learn why it is this person is suggesting this. There may be a reason, but I don't know what it is, because all three of those entities, a sole proprietorship, an LLC, or an S-Corp from a federal standpoint, all pass through to your personal return the net of expenses. The deductions are the same. The people paying you pay the same thing.

It doesn't matter. You keep it all separate. It's a business. The business income goes into the account. The business expenses come out of the account. What's left is called profit. It's cash basis accounting on a small business like yours. It's the way you ought to be doing it, and it shouldn't be rocket science here.

But, you know, maybe there's something unique to Florida law that I'm not aware of, but the federal law, there's no advantage to what they're talking about. All right, let's go to Liz in New York. Hi, Liz. Welcome to the Dave Ramsey Show. Hey, thanks, Dave. Sure, what's up? So I'm going back into mediation tomorrow for the second round.

Mediation for what? For divorce. Oh, no, I'm sorry. Yeah, thanks. That's so gut-wrenching. Yeah, it really is. So we're not really able to settle on the hard stuff, which is why we're going back in for the second mediation. But we hit a wall in regards to the house that we bought three and a half years ago, four years ago, there was inheritance money left from my husband's estate or my husband's parents' estate

that he brought into our joint bank account. We've always had joint finances. But now that we're in the process of divorce proceedings, he is putting it back on me that the money, in fact, belongs to him. Why wouldn't it? Because he, according to the state of Maine, if you bring it in. No, I'm not talking about the state of Maine, and I'm not talking about the state of your bank account. I'm asking, it was his money left to him by a grandparent, and he put it in to help the family get a house.

Now, why wouldn't he be due that money back morally? Okay, so that's why I'm calling, because I've been wrestling with this. He's suggested a couple of proposals, and this is what I wanted to run by you. Okay. of proposals and this is what I wanted to run by you. Um, the first proposal is that if I, um, decide to let go of that money, um, and, and it's his, um, then I walk away from the house and, um, any expenditures to do repairs on it. Um, of selling it if he decides to sell it, along with any other debt, just leaving me with one credit card with $3,000 on it. Is there any other money coming to you?

Yeah, there's half of his 401k. Which amounts to how much? About $100,000. Okay okay and what do you do for a living um i'm a caregiver and how old are your kids um they're uh 22 25 and 30 okay and so he would keep the house and all the debt if you would agree to walk away from his inheritance. Yes. And what's owed on the mortgage? It's $230,000.

Okay. He needs to refinance that as part of this and get your name off of it. Yeah, yeah, for sure. And is there equity in the house that is not as inheritance um a little bit but what's a little bit what's a little bit well the inheritance was 50 000 so there's there's not a lot okay if the roles were reversed and your mother died and left you $50,000, how would you feel? I would feel opposite of how he feels. You would?

You would want to give him half of it in the middle of a divorce? I would. Okay. But I'm also not the one filing, and I'm not for the divorce. I haven't been this entire time. So there's a lot of hurt that comes into the mediation. It always does. Yeah. And I'm from a divorced family and he's not. And so I come into this with that as well.

I don't think there's a right or a wrong answer here morally. And so I think you're okay to feel that way. Hold on. We're going to talk after the break. This is a big deal. Hold on just a minute. Our scripture of the day, Jeremiah 29 11 For I know the plans I have for you declares the Lord Plans for welfare and not for evil to give you a future and a hope Dale Carnegie says most of the important things in the world Have been accomplished by people who kept on trying when there seemed to be no hope at all. All right, we're talking with Liz in New York.

She's in the middle of her second divorce mediation. It's not going well. Her husband's relative passed away, left him $50,000 years ago. He put it into the joint bank account and then bought a home with it for the for the two of them uh by law in her state that makes that money now uh vulnerable in the divorce to where she would be due half of it legally speaking he says no he wants it and he will trade out to her to walk away from that uh money in return he he will take on the debt of the house and do all the repairs to the house. And if it sells later, then proceeds above that would be split with her.

Is that what you told me? It is. Thank you. And the question then is, morally, is that money his? Because legally, your state is pretty clear it's not um correct uh and and so but he's he's arguing and arguing and you're asking should i take this deal you're also getting 100 grand which is half of his 401k which will be transferred over and you are a caregiver uh and i did ask i'm sorry you have you have children? Are they grown? Yes. Okay, so there's not kids involved in this equation

in terms of supporting them by one of the two of you. Okay. Anything I left out, is there any other money on the table? No, we did agree in the first mediation to split the 401K. That got a little ugly and i i think that's where part of the pushback on the on the home is um that's kind of a no-brainer that's true in every state yeah you're for your 401k is his 401k is your 401k in virtually every state as far as i know that that's a standard. You're going to lose half your 401K in a divorce. Just get ready for that.

Okay. And you don't have a retirement savings personally? No, I don't. I've been the gravy. I've worked part-time just to bring something to the table, but he's been the breadwinner. We had a small business for four years before we were taken out uh in the recession yeah and i didn't earn money i was

and he's seeking the divorce you mentioned that and you come from a divorced family and he does not and so these uh types of uh hurts enter into the equation and how you feel about this. And I ask you if the roles were reversed, if you'd be willing to give up inheritance you got from the death of your relative, and you said yes you would, you'd give up half of it. I would because in the case of my parents, they've been divorced for as long as I've been married, which is over 31 years,

and my kids, my adult kids have never seen their grandparents in the same room. But that's not going to change by the inheritance being split. No, no. But my heart is still for my husband and and it's for for my family and so but you don't my mind that i wanted to understand but these are independent variables right but my point is is that i had already made up in my mind and my heart that i was willing to walk away from the house um but then I wanted to call in because I thought I value your opinion, and I wanted your backing on this.

Yeah, okay. All right, I appreciate that. But you're walking away from the house trying to salvage some level of civility between the two of you. Absolutely. You think that's going to happen when you walk away from the house? It's hard. I don't know.

But in the long run... How long have you been married? 31 years. Why is he quitting? Wow. He doesn't want to go the distance. Yeah, I knew that yeah okay

alright he's looking for happy yeah I got you he's wanting out not through I mean I got you. He's wanting out, not through. I mean, yeah. I got you.

Okay. Well, to start with, I'm so sorry. This is such a heartbreaking, heart-wrenching situation. And so I probably would not use the motivation of, this guy's looking for happy happy that's why he's trying to get out and you're trying to uh let him have this money in hopes that that helps him have a little happy so that it makes everything a little bit more okay even in a horrible situation i doubt you're going to get that for this concession me too okay so I don't want to give you your hopes up.

I think you're going to get probably about the same guy six months from now, regardless of how this goes down. Yeah. And so I'm kind of thinking, though, that, number one, I did say going into the break, if you let him have the house, he has to refinance the mortgage to get your name off of it. Right. That's mandatory in this mediation because you don't stay on the mortgage and not own the house.

That's dangerous for you because if he gets behind and they start foreclosing, you can't force the sale of it. You only have the liability. You don't have the asset anymore. And in a lot of divorces, people quit claim the ownership to one spouse or the other, but then they stay on the mortgage, and that's really bad financial and legal advice, and yet a lot of divorce lawyers will go along with that. Don't you dare go along with that. If you don't force the sale of the house, force the refinance of the mortgage. Okay.

That is a non-negotiable. That's a non-starter. If he's unwilling to do that, just force the sale of the house. Now, above 50. And we don't have lawyers, by the way. Okay. The mediator then. Okay.

Yes. Okay. Force it. Right. Because you're going to get stuck with a mortgage, and if he goes sideways in his life while he's chasing happy and doesn't pay the bill they're going to foreclose on you and there'll be nothing you can do about it so you do not have your name on the mortgage when

the smoke clears on this period okay either by the sale of the house and we split the proceeds however we agree to or by him refinancing. Now, above the $50,000, you said there's a small amount of equity, and you're going to be relinquishing that in return for not having to fool with the repairs or the liability of the mortgage, right? Correct, and some debt. Oh, some other debt, too. Is your name on the other debt?

I need to find out that. Okay. And so if you are giving up this battle and letting him keep this, that the law says is partially yours, in an effort to be more civil, then he's got to refinance the house and he's got to refinance any of the other debt or your rights to half of this house comes back if any of that debt ever comes back. You follow me? Okay. I do.

In other words, let's say there's $20,000 worth of credit card debt as an example over here that's got both your names on it he promises to pay that and in return you walk away from his inheritance portion right then if he doesn't pay it you now have rights to the inheritance portion again okay that needs to be the agreement because i want him to guarantee this with the inheritance that he's going to follow through. Okay. And get the refinance done. Because if you're going to give this stuff up, you've got to get what was promised to you. Right.

In all of those cases, I'm going to tell you to walk away from it because you're getting out of all the debt, including the mortgage. And it gives you a clean, fresh start, not because of the law and not because of your broken heart and not because of his civility, but because it's good, better for you six months from now financially. Yes. That makes sense? It does. It took me a while to comb through the barrel of fishhooks, and I want to make sure I got it right as to what I would do.

There's a lot of stuff in play here including a broken heart and all of it is a legitimate part of the discussion. I'm so sorry. So sorry. 31 years. Wow. That puts this hour of the Dave Ramsey Show in the books. We'll be back with you before you know it. In the meantime remember there's ultimately only one way to financial peace and that's to walk daily with the Prince of Peace, Christ Jesus. Hey guys, it's Blake Thompson, Senior Executive Producer for The Dave Ramsey Show. This hour's over, but you can find more great content on our YouTube channel. Catch the most watched Dave Ramsey, debt-free screams, and the very popular Everyday Millionaire segment. Go to The Dave Ramsey Show YouTube channel and Catch the most watched Daybranes, debt-free screens, and the very popular Everyday

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