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Episode 3411:
Mike Ballew explains why home warranties are often a poor financial decision, describing them as overpriced plans for predictable expenses rather than true insurance. He makes a compelling case for self-insurance, urging homeowners to save strategically instead of relying on warranty companies that rarely deliver full value.
Read along with the original article(s) here: https://eggstack.com/blog/2020-03-08-Are-Home-Warranties-Worth-It/
Quotes to ponder:
"Home warranties are forced savings for people who don’t have the self-discipline to save."
"Insurance performs well when the risk is low and the potential damages are high."
"You don’t need to insure against things that are totally predictable."
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Optimal Finance Daily - Financial Independence and Money Advice