Sign in to comment!


Dave Says

What to Do When Your Broker Goes Rogue

Dear Dave,

My broker has recommended a managed futures fund. I’ve never heard of these, and I got the feeling she doesn’t know much about them, either. She’s always been very conservative and reliable before, so we’re concerned. Can you explain something about them?


Dear Krista,

It sounds a little like she jumped off the cliff and became a roulette dealer. The term “managed futures” is virtually an oxymoron. I think she needs to explain her behavior and the investment after this stunt!

With managed futures you’re basically betting on the future price of a commodity. What’s the price of gold, or oil, or wheat going to be somewhere down the road? You’re guessing as to what the future will bring, and managing a group of those guesses. What a joke!

People in the brokerage business represent dumb things every day. The sad thing is this is someone you thought you could trust.


Dear Dave,

I know you usually recommend having eight to 10 times your income in life insurance. I’m 25, single, and I have no kids. Do I still need that much life insurance?


Dear Anonymous,

The need for life insurance is very low in situations like yours. All you really want is enough to cover burial expenses, and clean up any mess you may leave behind. If you own a home you may not have to worry about any remaining debt, because the sale of the house might cover it.

Many times an employer will furnish you with life insurance equal to your yearly salary, or maybe twice that amount. In lots of cases, that alone will take care of things for young singles. Check into it!


Dear Dave,

I’m 19 and about to start college. Thanks to my part-time job and generous parents, I’ll be able to pay for college without student loans. Since I won’t be borrowing money, what’s my next financial step?


Dear Patrick,

Stay away from the free t-shirt tables. Those things always have credit cards hiding behind them. Remember, if it seems too good to be true, it probably is. But since the money is already there for school, the only thing you really need to do is save all the cash you can for after graduation.

The first couple of years after college may be the most life-changing, and volatile period of your life. If you keep working and saving like you have already, you’ll have cash on hand for an emergency fund and to start your new life. Plus, you’ll be able to plan for the future by investing in good, growth stock mutual funds, and maybe a Roth IRA after that!


* For more financial help please visit

Dave Ramsey is America’s trusted voice on money and business, and CEO of Ramsey Solutions. He has authored five New York Times best-selling books. The Dave Ramsey Show is heard by more than 8.5 million listeners each week on more than 550 radio stations. Dave’s latest project, EveryDollar, provides a free online budget tool. Follow Dave on Twitter at @DaveRamsey and on the web at

Bank Rates

Loan Type Graph Rate +/- Last Week
30 Y Fixed Graph 3.93% up 3.86%  
15 Y Fixed Graph 2.99% dw 3.02%  
30 Y Fixed Jumbo Graph 4.24% dw 4.29%  
5/1 ARM Graph 3.26% up 3.20%  
5/1 Jumbo ARM Graph 3.79% dw 3.82%  
Loan Type Graph Rate +/- Last Week
$30K HELOC Graph 4.68% up 4.61%  
$50K HELOC Graph 4.10% up 4.03%  
$30K Loan Graph 4.48% -- 4.48%  
$50K Loan Graph 4.12% up 4.10%  
$75K Loan Graph 4.12% up 4.10%  
Loan Type Graph Rate +/- Last Week
36 M New Graph 3.03% -- 3.03%  
36 M Used Graph 3.21% dw 3.22%  
48 M New Graph 3.25% up 3.11%  
48 M Used Graph 2.72% dw 2.83%  
60 M New Graph 3.37% up 3.10%  
Loan Type Graph Yield +/- Last Week
6 month Graph 0.34% dw 0.36%  
1 yr Graph 0.63% -- 0.63%  
5 yr Graph 1.41% -- 1.41%