Talk of The Villages Florida - Rentals, Entertainment & More
Talk of The Villages Florida - Rentals, Entertainment & More
#1
|
||
|
||
Paraday
I have noticed a lot of newspaper ads for this company as well as billboards. This has got to cost a pretty penny. I was playing golf with a person who had on a Paraday visor and shirt. I asked her how they could afford all those ads. She said they had many clients so could afford it. How many can they have when they are just a local company? She also told me that those seminars are free for attendees.
I do not have any investments with this company and if I did I would be a little concerned where they were getting all this money for those ads. Just curious. John
__________________
Neptune, NJ 1963-2005 The Villages 2005-forever "Don't curse the darkness when you can light a candle" |
|
#2
|
||
|
||
Paraday
Quote:
Do a search on the commission rate for annuity brokers, then you’ll know how he can afford those billboards. Broker 1 Retiree 0 BTW, annuities are not investments. Sent from my iPhone using Tapatalk |
#3
|
||
|
||
Life insurance and annuity peddlers...I just checked their website. They have a "Paraday Learning Lounge" for their "seminars". lol
__________________
"No one is more hated than he who speaks the truth." Plato “To argue with a person who has renounced the use of reason is like administering medicine to the dead.” Thomas Paine |
#4
|
||
|
||
Went to one of his seminars a while back. Not impressed. Each table is seeded with one of their present clients. Presentation never mentioned what Parady actually did with your money, instead it repeated ad nauseum how several Christmas's ago Mr Parady used the co pa you credit card to pay off several peoples layaways. When I asked the couple seated at our table who had been Parady clients what was being done with their money, they had no idea but they liked him.
|
#5
|
||
|
||
I have been to a few of their seminars. I did not find the content particularly deep and it is clearly aimed at making people comfortable with the organization (but I am always looking for detailed presentations). They bring in a fair number of guest speakers. They primarily sell annuities and insurance but also have a financial advisor business at what I believe is an above typical percentage fee. The commissions on annuities can be pretty attractive and that can fund a lot of efforts to attract even more new business. I suspect they are pretty good at analysis of your financial situation and showing you that annuities will be appropriate. The real question is do you want to use annuities and insurance - there are other options. Their chocolate chip cookies are pretty tasty. I am not a customer.
Quote:
|
#6
|
||
|
||
They are annuity salesmen selling high commission products. The only person an annuity makes sense for is a compulsive gambler who will go through all their money unless it is tied up where they can get at it. Or someone who knows for a fact that they will far outlive the actuarial tables for their current age. And the biggest downside is your investment money is now tied to a single insurance company. Zero diversification.
__________________
Life is to short to drink cheap wine. |
#7
|
||
|
||
My Villages investment counselor has several hundred clients, has a modest home, does drive an upscale car. He does not take lavish vacations and is a personal friend. I asked him about Parody not long ago. He said he really could not ethically comment but only winked and stated, "yes it does make one wonder how they can afford their high priced advertising".
For me I think this Parody outfit has found a soft target. |
#8
|
||
|
||
It goes beyond that. Some people just want a guaranteed income stream and annuities are one way to generate that. Diversification can be achieved through multiple annuities. I doubt those who have annuities have all of their money tied up in them so there will automatically be some diversification. They are not a vehicle that I would use but I can see how they might be attractive to some.
Quote:
|
#9
|
||
|
||
Quote:
Billboards all over the place ,full page newspaper adds Tv exposure ,Store front offices and Villages rent isn't cheap. Money is coming from someone somewhere Like to hear a clients prospective
__________________
Don't take life Too Serious ..It isn't permanent |
#10
|
||
|
||
Quote:
I personally see almost no situation where an annuity is a good option for anyone except the person selling it. Again, a gambler, someone not capable of managing any money, or someone who has a family history of over 100 year old relatives. There just is no good case to be made for them. Probably less then 1% of the retired population should be in an annuity.
__________________
Life is to short to drink cheap wine. |
#11
|
||
|
||
While I appreciate the concerns expressed about annuities and their high sales commissions, people should be careful stating that they are not for most people. I have a pension from a Fortune 500 company, which is an annuity. And a pretty good one at that, fully funded and secure. So not all annuities are necessarily "bad".
|
#12
|
||
|
||
In your original post you stated "zero diversification". I am glad to see that you walked that back. As I already suggested, I doubt many people have all of their money in annuities so they should have some diversification.
There are annuities with survivor benefits so stating that the heirs will receive zero is not necessarily true. How exactly did you come up with the conclusion that "Probably less then [sic] 1% of the retired population should be in an annuity." ? I personally neither buy into the concept nor choose to characterize people I don't know as possibly suffering from a gambling issue or possibly being too incompetent to manage their money simply because they have elected to use an annuity. I know several people who don't suffer from either characterization and have an annuity as part of their overall strategy (which also includes mutual funds, ETFs, individual stocks, cash, and bond funds). Again, they don't personally float my boat but I do accept that there is a place for them in a well thought out strategy. Quote:
Last edited by biker1; 04-02-2018 at 12:22 PM. |
#13
|
||
|
||
Quote:
To each their own. I personally believe that almost no one should be using this investment vehicle. There are so many better investment strategy's available. And I also consider a single annuity which most people who buy them have, to be zero diversification for that part of their investments. I guess we just have to agree to disagree.
__________________
Life is to short to drink cheap wine. |
#14
|
||
|
||
You actually never used the word "SHOULD". I don't believe anything was taken out of context. The meaning seemed pretty clear to me, although it is now a moving target as you walk things back. I noticed you never answered my question. Whatever ...
Quote:
|
#15
|
||
|
||
Paraday
Quote:
Actually what you have, is a defined benefit plan. Mine is through a Dow Industrial, I’ve never considered it an annuity, simply a pension. |
Closed Thread |
|
|