Do your own research

[SimpleMeLike]

Hi M.W.

Yes, I'm a retired trucker. It was a hard business, and rewarding excluding
the long hours and a host of BS dealing with shippers/customers.

You seem to be a little loss concerning the benefits of Life Insurance.
I'll try not boast, but my wife and I have been using several policies
and have achieved exceptional results. I've outlined the major
benefits in my original post.

Allow me the opportunity to share some websites with you.
These are wonderful websites with details on how
Insurance can be used to finance your own loans.

If you choose to stay ignorant on this subject, that's of course your prerogative.

https://www.wallstreetmojo.com/infinite-banking/

https://corporatefinanceinstitute.com/resources/knowledge/finance/infinite-banking/

https://livingwealth.com/infinite-banking/

Hello mikeriley,

I am happy you are out of the trucking business.

I know a few people trying to start and become profitable truck owner operators and losing ALOT of money. I think its a scam.

 

[M.W.]

And I guess that was what I was alluding to, too. Perhaps not in eloquent ways. There is a huge difference between billionaires and people like Musk who do have the required capital but just not in liquid form. Normal people do not have that, else they would not need to take on expensive loans and fall into difficulties to service said loans. Home equity is not available capital because in the event debt cannot be serviced the person would end up homeless. Very different.

Pretty sure Elon Musk is using credit to acquire Twitter. Credit gives you leverage. If you can borrow money at a lower rate and make a return at a higher rate, it makes sense to use. The wealthy most companies use credit. They borrow against their holdings to avoid realizing capital gains and paying the resulting taxes. To the contrary, people who never use credit even at low rates are not the best investors as they are leaving opportunity on the table.

Dave Ramsey's message is targeted towards the people who if they don't pay off their mortgage or pay down their debt, they will blow the money on worthless trinkets, cars, and fast food. It's targeted towards people who need to come up with a budget in order to not go bankrupt. It's probably not possible to teach many of those people how to invest over the radio, but the hope is that they will at least get on the right track by paying down debt and then later become interested in investing / saving for retirement.

 

[murray t turtle]

And I guess that was what I was alluding to, too. Perhaps not in eloquent ways. There is a huge difference between billionaires and people like Musk who do have the required capital but just not in liquid form. Normal people do not have that, else they would not need to take on expensive loans and fall into difficulties to service said loans. Home equity is not available capital because in the event debt cannot be serviced the person would end up homeless. Very different.

%%
Good points+ big difference between credit + credit on an appreciating asset.
I like Dave Ramsey, very practical. But one of Dave Ramsey's friends said '' you actually owe the restaurant the money as soon as you get the food'' LOL + right borrow example .