Using Mike and Mary Mastin for annuities.
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  #11  
Old 03-05-2018, 11:23 PM
retiredguy123 retiredguy123 is online now
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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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Using Mike and Mary Mastin for annuities.
  #12  
Old 03-05-2018, 11:32 PM
Wiotte Wiotte is offline
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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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Using Mike and Mary Mastin for annuities.
  #13  
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.


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  #14  
Old 03-06-2018, 06:56 AM
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l2ridehd l2ridehd is offline
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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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  #15  
Old 03-06-2018, 08:05 AM
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Originally Posted by l2ridehd View Post
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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  #16  
Old 03-06-2018, 10:50 AM
Marathon Man Marathon Man is offline
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Call J. G. Wentworth. 877-cash-now.
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  #17  
Old 03-06-2018, 12:12 PM
Wiotte Wiotte is offline
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Call J. G. Wentworth. 877-cash-now.


Funny


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  #18  
Old 03-06-2018, 12:55 PM
My Post My Post is offline
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Ken Fisher is right about annuities IMO. Total waste. Almost impossible to get out of. Hidden fees. Bad option.
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  #19  
Old 03-07-2018, 07:51 PM
buzzy buzzy is offline
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The topic has shifted away from the Mastims. Should they be avoided?
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  #20  
Old 03-15-2018, 08:17 AM
Jim 9922 Jim 9922 is online now
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The topic has shifted away from the Mastims. Should they be avoided?
No one has said anything about them. Apparently they had a bad rap in the past. Maybe your question has been answered.
My Granpappy used to say, "You can stick your finger in a pencil sharpener only so long before it starts hurting"
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