Using Mike and Mary Mastin for annuities.

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Old 03-02-2018, 01:22 PM
jbfroman jbfroman is offline
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Default Using Mike and Mary Mastin for annuities.

There were some older posts on the Mastins regarding tax preparation and annuity investing that were not very favorable. Since that has been a while, has anyone had more recent experience with them?
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Old 03-02-2018, 01:24 PM
Wiotte Wiotte is offline
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There were some older posts on the Mastins regarding tax preparation and annuity investing that were not very favorable. Since that has been a while, has anyone had more recent experience with them?


Why not move on ?


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Old 03-03-2018, 05:59 AM
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So you found someone who had lots of unfavorable reviews in this forum but that was awhile ago. Now you'd like to go with him/them. That in spite of any others who have had a stellar record for many years. Sounds like a good plan for me. Go for it!
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Old 03-04-2018, 08:37 AM
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So you found someone who had lots of unfavorable reviews in this forum but that was awhile ago. Now you'd like to go with him/them. That in spite of any others who have had a stellar record for many years. Sounds like a good plan for me. Go for it!
Do you recall who has had good reviews? I'd like a referral. Thanks.
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Old 03-04-2018, 03:39 PM
Carla B Carla B is offline
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Have you thought about consulting Parady re annuities? I don't know much about annuities but I do know for certain that if you are a client of Parady you will have lots of fun!
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Old 03-04-2018, 08:26 PM
Wiotte Wiotte is offline
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Default Using Mike and Mary Mastin for annuities.

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Have you thought about consulting Parady re annuities? I don't know much about annuities but I do know for certain that if you are a client of Parady you will have lots of fun!


Maybe it’s me, I don’t see the fun in having Parady tie up
your capital with less than A rated annuity companies. Fidelity will broker only AA/AAA companies.
Do your due diligence people. Trust no one, check everything.



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Old 03-05-2018, 06:25 AM
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I don't know about the Mastins, but having worked for three financial advisors over the years, I personally would not trust anyone to manage my money who was not a Registered Investment Advisor (RIA) or a Certified Financial Planner(CFP), and a Fiduciary. You should also be aware that both insurance and especially annuities pay a nice up-front commission for the guy that sells them to you. You can go to SEC.gov | HOME, and check on the record and history of any registered advisor.
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Old 03-05-2018, 08:16 AM
Wiotte Wiotte is offline
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Default Using Mike and Mary Mastin for annuities.

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I don't know about the Mastins, but having worked for three financial advisors over the years, I personally would not trust anyone to manage my money who was not a Registered Investment Advisor (RIA) or a Certified Financial Planner(CFP), and a Fiduciary. You should also be aware that both insurance and especially annuities pay a nice up-front commission for the guy that sells them to you. You can go to SEC.gov | HOME, and check on the record and history of any registered advisor.


I would not trust anyone with capital letters after their name period. Registered, certified... bah blah blah. I’ve attended enough plate licking dinners to realize not one so called adviser tells the truth, the whole truth and NOTHING but the truth. They all must think we’re idiots. Tell the audience what they want to hear and BAM, they just latched onto your life savings and they walk away with a fat commission.
Be especially aware of those with a magical secret financial formula that no other broker uses or has never if thought of. These guys try to make you believe they have a patent on their idea. Some even have the gonads to tell you not to trust the other brokers (advisors) because their not honest, but we are. They’ll attempt to lull you into complacency by showing or telling you what good family people they are, how their connected to their community blah blah, YET they don’t tell you what their really thinking and how they’ll disappear like Houdini when the do do hits the fan.


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Old 03-05-2018, 09:04 AM
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I would not trust anyone with capital letters after their name period. Registered, certified... bah blah blah. I’ve attended enough plate licking dinners to realize not one so called adviser tells the truth, the whole truth and NOTHING but the truth. They all must think we’re idiots. Tell the audience what they want to hear and BAM, they just latched onto your life savings and they walk away with a fat commission.
Be especially aware of those with a magical secret financial formula that no other broker uses or has never if thought of. These guys try to make you believe they have a patent on their idea. Some even have the gonads to tell you not to trust the other brokers (advisors) because their not honest, but we are. They’ll attempt to lull you into complacency by showing or telling you what good family people they are, how their connected to their community blah blah, YET they don’t tell you what their really thinking and how they’ll disappear like Houdini when the do do hits the fan.


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At least the ones with the capitals after their names made the effort to take the training and jump through the hoops to get certified. Although, you are right; not all certifications are genuine either. That's why you should check them out at the Securities Exchange Commission website. You can also report a fraud on the site, and they DO get into some serious trouble for fraud. Also beware anyone who uses terms like "guaranteed", that's ILLEGAL by SEC/FINRA standards, and a definite red flag!
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Old 03-05-2018, 09:22 PM
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Do you recall who has had good reviews? I'd like a referral. Thanks.
bump
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Old 03-05-2018, 11:23 PM
retiredguy123 retiredguy123 is offline
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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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Old 03-05-2018, 11:32 PM
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Default Using Mike and Mary Mastin for annuities.

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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.


But, but, what about all the (free) meals ?


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Old 03-05-2018, 11:35 PM
Wiotte Wiotte is offline
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Default Using Mike and Mary Mastin for annuities.

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Originally Posted by retiredguy123 View Post
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.


You’re a good man Charlie Brown.


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Old 03-06-2018, 06:56 AM
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Annuities are a good decision for maybe 1% of the retired population. Only those who can't manage their money at all and will spend every dime if they have it available. Then maybe an annuity would work for them because it would parse out the money in a slow even way. Annuities only really benefit those that sell them. The list of pro's is very short and the con's list is very long.

When you are so old and feeble that you can't write a check or count money then and only then you might want to consider an annuity. And even then I emphasis the word might as I believe there are better alternatives.

Parady was mentioned as providing fun along with their full page ads every day in the paper. Think about how they can afford those perks and all that advertising. Commissions on annuities are high and those selling them make lots of money.

There are lots better ways to invest your money with a greater return that is much safer and more diversified.
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Old 03-06-2018, 08:05 AM
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Annuities are a good decision for maybe 1% of the retired population. Only those who can't manage their money at all and will spend every dime if they have it available. Then maybe an annuity would work for them because it would parse out the money in a slow even way. Annuities only really benefit those that sell them. The list of pro's is very short and the con's list is very long.

When you are so old and feeble that you can't write a check or count money then and only then you might want to consider an annuity. And even then I emphasis the word might as I believe there are better alternatives.

Parady was mentioned as providing fun along with their full page ads every day in the paper. Think about how they can afford those perks and all that advertising. Commissions on annuities are high and those selling them make lots of money.

There are lots better ways to invest your money with a greater return that is much safer and more diversified.
I always look with a jaundiced eye, toward those companies who have enough money...to sponsor polo teams.
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