You may be considering using Primerica for insurance, investment, or financial services and wondering what Dave Ramsey thinks about Primerica. As a refresher, Primerica is known as a multi-level marketing company (MLM). In MLM’s, the companies revenue often comes non-salaried workforce. Oftentimes, you would see a friend selling the product or services to another friend.
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The purpose of this article is to explain whether Dave Ramsey endorses Primerica and what he thinks about MLM companies. If you are already with Primerica, check out our article covering how to cancel Primerica.
Does Dave Ramsey Recommend Primerica?
In short, Dave Ramsey does not endorse Primerica per his Twitter account. He states that the cost of their insurance is HIGH.
Dave Ramsey does not recommend their insurance product, but what does he think about their investment or financial service products? Let’s dive into Dave Ramsey’s view on Multi Level Marketing companies.
What Does Dave Ramsey Think About Multi Level Marketing?
Dave Ramsey actually provides some information about MLM companies. In general, he provides pros and cons about MLM companies. He mentions on Youtube (2:15) how MLM companies have high turnover and how the ones who make it are recruiting, hiring, and training new people.
Here are Dave Ramsey’s pros and cons to MLM companies:
Pros:
- You have the opportunity to start your own business from scratch
- There is a potential to make money
- You may get a lot of support from your team
- You may have flexibility
Cons:
- You could alienate yourself from your friends and family
- You will have to pay money upfront
- The job may consist of more recruiting than selling
- You may lose money.
In short, Dave Ramsey doesn’t necessarily condone the MLM companies, but he doesn’t necessarily endorse companies like Primerica. You have to make the decision yourself.
What Are Alternatives to Primerica and MLMs?
If you haven’t already, check out my favorite side hustle alternative to Primerica. Hint – I make between $1300 and $5000+ per month from this side hustle, and I probably only spend about 3-5 hours a week doing so.
Important: Primerica has been under investigation for multiple interesting cases that may be helpful in your research
You may be able to find something you love and make money without pursuing an MLM. For example, I really enjoy vacations with my family. So, since 2014, my wife and I have gotten over $50,000 in free travel through different strategies involving credit card points. Please note that this only works because we pay the balance every month. If you do not, you can lose a lot of money in interest payments. Now we save money and can still travel with our family.
I also enjoy writing, so I went onto Upwork and started writing on personal finance topics. I got paid up to $100 per article I wrote. If you do this, you may consider starting small and building your way up.
