Years ago, I completed all of the training to become a certified financial planner, CFP. The training took 2 years and was excellent. However, when I discovered that the only way to make good money was to advise clients to invest in high commission and inappropriate investment products, I never practiced as a CFP. I am just too honest. The worst investment product you can buy is an annuity. The sales commission for selling an annuity is about 10 percent, which is the only reason financial advisors try to sell annuities to most of their clients. Almost no one should invest in an annuity because of the high maintenance costs, surrender fees, and the fact that you can do a lot better with other financial products. Stay away from annuities and advisors who sell them.
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