Parady Financials

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  #1  
Old 04-01-2015, 08:33 PM
hulahips hulahips is offline
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Does anyone use parady and recommend?

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  #2  
Old 04-02-2015, 08:49 AM
Jim 9922 Jim 9922 is offline
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Only pushes annuities. Seems to like a lot of "U-Ra, Ra". If you are into annuities check out several others for different ideas and plans. Annuities involve big commissions so everyone wants to sell them.
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Old 04-02-2015, 09:48 AM
Laurie2 Laurie2 is offline
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There is an article in Tuesday's Daily Sun, March 31, Section A, Page 11, that gives some general information on things to think about when deciding to have someone handle your investments.

The article has a list of questions to ask. It is not an in-depth article, but it's a start.
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Old 04-02-2015, 12:40 PM
hulahips hulahips is offline
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Are annuities a bad investment?
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Old 04-02-2015, 12:44 PM
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They also taut relatively high yields with insurance companies that are not highly rated., BBB or less.
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Old 04-02-2015, 12:46 PM
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Quote:
Originally Posted by hulahips View Post
Are annuities a bad investment?

Not bad, just a personal choice.
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Old 04-02-2015, 04:00 PM
Bonnevie Bonnevie is offline
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first questions to ask--are they fee only, fee based, are they fiduciaries?

you might want to go talk to Fidelity....they give you the option of just taking their advice for free or they will manage it for a fee...
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Old 04-02-2015, 05:40 PM
Carla B Carla B is offline
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Quote:
Originally Posted by Bonnevie View Post
first questions to ask--are they fee only, fee based, are they fiduciaries?

you might want to go talk to Fidelity....they give you the option of just taking their advice for free or they will manage it for a fee...
The OP asked about Parady. They are not financial advisors, so fee-only, fee-based doesn't apply to them.
  #9  
Old 04-02-2015, 06:57 PM
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Quote:
Originally Posted by hulahips View Post
Are annuities a bad investment?
As an insurance product, annuities are about risk transfer.
Not an investment product.
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  #10  
Old 04-02-2015, 07:03 PM
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There are a million different kinds of annuities, with more pouring into the market very day. Most annuity contracts are very difficult to understand, even for those in the business. And if you don't understand it, don't buy it. The fees for annuities can be extremely high as well. Use extreme caution. This may well be the most abused financial product in use today. Are there any good annuities? Some fee-only planners use immediate fixed annuities to "create a pension" for their clients.
  #11  
Old 04-03-2015, 05:42 AM
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Who is "Greg Parady" Where is "Greg Parady" I see sign and pictures every where.
I have been looking for his story on "CNBC" which has been advertised for months in the paper and billboards.
Did I miss it?
  #12  
Old 04-03-2015, 05:53 AM
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Quote:
Originally Posted by jimmer View Post
Who is "Greg Parady" Where is "Greg Parady" I see sign and pictures every where.
I have been looking for his story on "CNBC" which has been advertised for months in the paper and billboards.
Did I miss it?

Pay no attention to that man behind the curtain !
  #13  
Old 04-03-2015, 02:50 PM
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Parady has an office in The Villages on 466A. Since your inquiry was does anyone know about Parady and that wasn't really answered, I'd suggest visiting their office. They also do a "meal with a spiel." Just call their office and they will set it up. I attended one and found it to be informative. No products were pushed and no obligations to see them again.
They are not an investment house nor claim to bt. They offer plans to protect your accumulated wealth. Visit them so you can make your own informed opinion.
  #14  
Old 04-03-2015, 02:59 PM
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I would suggest you visit the Parady office on 466A or attend one of their dinners advertised in the Daily Sun. This will at least provide you with accurate information so that you can make a more informed decision. Went to one a few months ago. There was no pressure to buy any products. If you wished to set up am appointment with them, you did so. If not, you leave without any obligation.
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Old 04-03-2015, 05:10 PM
CassieInVa CassieInVa is offline
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I was talked into a variable life insurance annuity by Ameriprise a few years ago. It was in my IRA and I didn't know any better. Since then there's been a class action lawsuit as they shouldnt have put that product in an IRA . Also they guaranteed 3% returns at the very least but when I reviewed my numbers and really looked at it - after their fees and commissions etc., I wasn't even making 1%. I also lost 50% during the crash in 2008. That was my fault because I just couldn't take it anymore and pulled out . My adviser did not explain the risk factor to me at all. I was thinking that an annuity was safe. I had no clue I could lose all my money. That was my fault for not asking more questions.

I have since learned that those variable and life insurance annuities pay huge commissions upfront and have high annual fees. The only type of annuity I would do moving forward is a SPIA - single premium immediate annuity . I pay an insurance company a certain amount of money and they promise to pay me a certain amount monthly for the rest of my life . That may be an option for me as I get older .

Also, if you are considering an annuity please do your research! Over the years as people have become more educated, the life insurance companies and the brokerage firms are changing the names of the products but they are all still the same product essentially.
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