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Old 04-08-2009, 08:19 AM   #21
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Of course when you work so hard to just pay your bills and your savings go out the window with the markets we were interested
Well, just about the worst thing you could do after losing money in the market (like most of us have) is to jump into some *other* 'investment', which I believe is very likely to cause you to lose more of what you have left. That would be very sad. The market is likely to come back some day. Be patient, don't "Buy High, Sell Low".

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the numbers have me worried our mortgage 1/2 paid we would be back up to the max and all the fees I just can't find enough info from others !
The fees, and the "dome of silence" are MAJOR RED FLAGS!

Run, do not walk from this. The most important thing is to not get involved in conversations with this person, they are probably well trained to smooth talk over the problems, they will tell you that people that dissuade you are idiots stuck in the "old way of doing things", and of course there are fees, "you get what you pay for", etc, etc, etc.

There is no silver bullet to investing, and paying some marketing company for a supposed silver bullet will just put you further behind.

If there was merit to this, don't you think people on this board, all looking for higher returns would be all over it?

Good luck. You will get some good input on this forum if you chose to ask questions about your situation.

-ERD50
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Old 04-08-2009, 08:29 AM   #22
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...but not alot of actual factual experience .
I would really like to see or hear someone's experiences before mortgaging our home .
thanks
I'm in lockstep right behind ERD50.
Some very smart people have written some darn good books on investing. According to them, across the board, speculation should be reserved for only the assets you are willing to lose.
Your home does not qualify as something you should be willing to lose.
The fact that "someone" is trying to get you to wager what may be your largest asset is a HUGE RED FLAG.
I would be highly insulted that anyone would intrude into my personal finances with some "get rich quick" scheme.
I agree it would be best for you to immediately discontinue contact with this con artist. RUN!!!!
If you feel the need to gamble, take a very small amount of disposable income and play with some high flying stocks.
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Old 04-08-2009, 09:15 AM   #23
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Sounds like a Canadian version of Douglas Andrew's "Missed Fortune 101" schemes, where his team of insurance salesmen recommend you move all 401k, IRA and home equity into mysterious life insurance contracts that are so complicated you need their help and ongoing fees to hold the structure together. I've also seen a variation locally, where they add big leverage to buy real estate, but still keep all profits in the same structured insurance contracts.

I am not interested in investing in something too complicated for anyone except the salesperson to understand. I suspect that's because I actually do understand it well enough to recognize who's self-interest is promoted by such a scheme, and it isn't mine.
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Old 04-08-2009, 09:42 AM   #24
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I only invest in things that share the following characteristics:

1.) A fifth-grader can understand precisely what I am investing in and why there is an opportunity for profit;

2.) There are not a lot of transaction costs and fees;

3.) It is completely liquid, with a recognized market;

4.) It is not leveraged such that I may end up sleeping in the street if I am wrong

Stocks, bonds and mutual funds meet my criteria. HEIR does not.
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Old 04-09-2009, 06:39 AM   #25
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Bullets 2, 6, and 7 here
Home Equity Investment Rewards Inc — Home
should be enough to help you decide.
Gee, it sounds almost like Ponzi scheme, but in different clothes
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Old 04-09-2009, 10:18 AM   #26
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... hopefully you have already disqualified yourself from this innovative money-making opportunity scam by breaking the code of silence when you shared it with the financial infidels here on the forum.
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Old 04-09-2009, 06:07 PM   #27
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I just wanted to thank everyone that replied to my post about HEIR . I believe that you all saved us a huge amount of worry and cash . !! I hope others will benefit from these posts and stay away from HEIR .
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Old 04-24-2009, 09:13 PM   #28
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HEIR spelled sidways and in 3D is Bernie Madoff. Just another scam.
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Old 04-27-2009, 02:55 PM   #29
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Gee, it sounds almost like Ponzi scheme, but in different clothes
The only thing WORSE than a scam is a "Chistian-Based" scam.......
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Old 04-27-2009, 06:11 PM   #30
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The only thing WORSE than a scam is a "Chistian-Based" scam.......
+1 My thoughts exactly.
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Old 04-27-2009, 07:54 PM   #31
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The only thing WORSE than a scam is a "Chistian-Based" scam.......
Would that be "faith-based investing"?
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Old 04-28-2009, 12:59 PM   #32
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I just wanted to thank everyone that replied to my post about HEIR . I believe that you all saved us a huge amount of worry and cash . !! I hope others will benefit from these posts and stay away from HEIR .
This post made my day! YW
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Old 04-28-2009, 01:04 PM   #33
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This post made my day! YW
Mine, too! - now where were all those warnings about DJIA?
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Old 04-28-2009, 01:20 PM   #34
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Would that be "faith-based investing"?
OK, I'll take the plunge for the good of the collective. I personally never ran across this stuff.
What are the warning signs?
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Old 04-28-2009, 01:26 PM   #35
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OK, I'll take the plunge for the good of the collective. I personally never ran across this stuff.
What are the warning signs?
Hallelujah, brother, and pass the collection plate!
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Old 04-28-2009, 07:31 PM   #36
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OK, I'll take the plunge for the good of the collective. I personally never ran across this stuff.
What are the warning signs?
I believe Nords was referencing (and I certainly was referencing) religious affinity fraud, in which scammers play on the trust among members of particular religious communities. E.g. - I might trust my fellow UCC congregants more than outsiders, so the fraudsters would be, or pretend to be UCC members like me. I think that, to a certain extent, Bernie Madoff was an example of affinity fraud.

Here is some SEC information about affinity fraud, including what things to look for.

Investor Alert: Affinity Fraud
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Old 04-28-2009, 10:23 PM   #37
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OK, I'll take the plunge for the good of the collective. I personally never ran across this stuff.
What are the warning signs?
#4: Your financial advisor quotes scripture's parable of the servants investing their master's talents.
#3: Referrals to a financial advisor who's a member of your church.
#2: "Socially responsible investing" is their only asset class.

... and the #1 warning sign: Giving more to your financial advisor than you give to your church!
Is it Christian if you give more of your money to a financial advisor than to the Church?
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