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Old 07-27-2010, 11:00 PM   #21
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Most invitations are not at super nice places so I've tossed them without thinking much about it.
But lately, I've been getting some higher end invites.
Not sure how I managed to get on their list but thought it might be worth considering.
Steve
Oh go ahead and go for it Steve. If you don't like it, you can leave.

I've never been to one because most invitations would make me drive into the city...I don't want to mess with the traffic. Now, if I get one close by, I just might go....besides, what else do I have to do all day?
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Old 07-27-2010, 11:00 PM   #22
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2 of these that I have done. One was from Nations Bank of America or whatever they used to be called. When my wife put a bunch of money in play with them for banking and investments and our mortgage, we got invited to a very good filet mignon lunch, and Kristi Yamaguchi was the featured guest. They weren't selling to us very hard, but then again we were only in our 20's, and everyone else in the room was 40's-60's, so we didn't quite fit their profile.

Second one was a classic timeshare deal. 2 hours of pain for a 3 night stay at the Hilton's newest 'vacation club' near Disney World. Nicest condo I've ever stayed in. I especially like the hot tub in the master bedroom. All you have to do is say "no" about 100 times, and you have just earned free lodging.

I'd do both of these again in a heartbeat.
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Old 07-28-2010, 07:38 AM   #23
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I do not have time now, but when I get to ESR I would go to at least one at a nice enough restaurant. Since I am an investment professional well aware of how most of the more complicated products work, I suspect they would throw me bodily after the third or fourth comment.
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Old 07-28-2010, 08:13 AM   #24
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I'd love to be there and see an investment pro go at it with the speakers..good one! That one I'd go to for the entertainment value alone.
As for me, these invitations end up in file 13/aka the garbage. I bore too easily.
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Old 07-28-2010, 08:59 AM   #25
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I've been to many of these and if DW hadn't decided she had better things to do w/ her time, I'd probably still be going. You can usually learn a thing or two, if not from the presenter, from the other guests at your table. You can also fulfill your public service duties by helping the other guests learn a thing or two. Sometimes the latter is difficult bc the sponsors plant a "host" at each table but usually this doesn't happen bc the freeloaders outnumber them by a lot. 95% of those I've gone to don't allow Q&A......they say bc of time limitations ..........probably some truth in that since they do cover a lot of ground.......but it also serves the dual purpose of not allowing a single skeptic of poisoning the air for their sales overtures which then happen in private meetings (the divide-and-conquer approach).

I suspect if you're on this forum and you use credit cards responsibly that you would not have much trouble not sucumbing to their siren songs. If you do find yourself at a private meeting with them, one useful technique I've learned from a friend is to ask for time to think about A's product and go see B and them him you're thinking about A's. B will tell you everything that's wrong with A's. Then if you're tempted by A's, go see B.

If you're married, take your spouse along as a learning experience so you can be the vaccine for avoiding something that might happen to them after you're gone. Overall, you'll have a nice meal, learn some things (even if only not what to do), maybe even win some free $$$......often they have drawings (at the end for the stayers) or investment trivia contests.
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Old 07-28-2010, 09:06 AM   #26
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I'd love to be there and see an investment pro go at it with the speakers..good one! That one I'd go to for the entertainment value alone.
.
Most I've gone to don't allow Q&A . I've been to one that did and it was not pretty......think of 5 or 6 pit bulls beating up on something. I actually felt sorry for the speaker..........doubt if he allowed Q&A in the future.
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Old 07-28-2010, 11:15 AM   #27
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If you're married, take your spouse along as a learning experience so you can be the vaccine for avoiding something that might happen to them after you're gone.
Now that's an interesting idea. I've got the Princess fairly well-trained to spot scams, and there are plenty of examples in this world to help in that, but maybe she needs to meet some these people in real life so she can see how tricksy they are.
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Old 07-28-2010, 10:43 PM   #28
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I say "take her," Leonidas. Most women--and I R one so I've talked to many--have no clue about what's going on outside their little sphere of interest...particularly if they have been housewives. And, frankly, I say that with some sadness....
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Old 07-28-2010, 10:48 PM   #29
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I do not have time now, but when I get to ESR I would go to at least one at a nice enough restaurant. Since I am an investment professional well aware of how most of the more complicated products work, I suspect they would throw me bodily after the third or fourth comment.
You would be classified as a "know-it-all plate licker".........
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Old 07-28-2010, 11:04 PM   #30
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I do not have time now, but when I get to ESR I would go to at least one at a nice enough restaurant. Since I am an investment professional well aware of how most of the more complicated products work, I suspect they would throw me bodily after the third or fourth comment.
Heck...I'd be willing to pay for the meal just to listen in on that exchange.
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Old 07-28-2010, 11:17 PM   #31
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I say "take her," Leonidas. Most women--and I R one so I've talked to many--have no clue about what's going on outside their little sphere of interest...particularly if they have been housewives. And, frankly, I say that with some sadness....
I understand perfectly - especially the sadness. My wife, who was commercially successful as an artist in her teens, and was a banker when we married, basically turned over the family financial responsibilities to me after the kids came along.

That was against my wishes, but I just couldn't get her interested in the subject. Can't say that I blame her - if there was someone I really trusted to handle my finances I would love to let them take it off my hands in a moment.

Now that the kids are grown she's starting to come back around a bit and has expressed an interest in learning. It has been a small blessing mixed in with tragedy that her father's death last year has resulted in her receiving a decent bit of money to invest on her own. She's been forced to stretch herself a little in the education process - something that I've helped along as best I could.

So, in a timely manner, tonight's mail included an invitation for a seminar on IRA and 401(k) laws and strategies on distributions and investments. Since she is inheriting an IRA and a 401(k), I recognized a good opportunity. It's at a middling-decent steakhouse that I crossed off my personal list years ago, but it's really close to the house, and for free it can't be that horrible.

She liked the idea and had only one question: "Are you hoping that the education is on IRAs and 401s, or how to pick apart the sales pitch for a bad investment?"

I told her that I hoped for both.

My desire is that this will be something to really fire up her interest. But I'm also looking to put a little scare into her, to get her serious about what she needs to learn. Not to the point that she's afraid of dealing with anyone in the financial industry, but to help her use knowledge to develop the self-confidence to say "no thanks" to a bad deal.

Anyway, there are three available dates in the middle of next month and she's going to take care of getting us registered. I will report back sometime later about our experience for all to enjoy.
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Old 07-29-2010, 12:21 AM   #32
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I'd love to be there and see an investment pro go at it with the speakers..good one! That one I'd go to for the entertainment value alone.
As for me, these invitations end up in file 13/aka the garbage. I bore too easily.
Come up to Milwaukee, I go to 2-3 a year.........
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Old 07-29-2010, 08:33 AM   #33
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Got an interesting first-time offer in the mail yesterday that has some quantitative data and shows where the "opportunity" is for "them" and the danger for you. Refer a friend to come in for a free consultation and receive a free $100 gift card to various restaurants or Nordstrom. They'll even make it effortless by going to their home. Or even refer yourself.
Only stipulation is that the account being reviewed must be at least $30K.

Perhaps to increase the yield? Save on the free public dinners and get you to supply the raw material for their mill. I think they much prefer to deal with individuals than groups much as lions and other predators have better success when they can isolate potential prey from the herd/school.

You should be perfectly safe at the public dinners but be careful about the free consultations afterwards.
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Old 07-29-2010, 09:08 AM   #34
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Now that the kids are grown she's starting to come back around a bit and has expressed an interest in learning. It has been a small blessing mixed in with tragedy that her father's death last year has resulted in her receiving a decent bit of money to invest on her own. She's been forced to stretch herself a little in the education process - something that I've helped along as best I could.

There are lots of simple investment books geared for women or if she does not like to read a lot of commuity colleges run investing courses for women . I did both when I was first learning.
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Old 07-29-2010, 09:17 AM   #35
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There are also lots of in-home classes you take on the computer from community colleges that are good on ed2go.com. I've taken 3 so far on a wide variety of different subjects, and really enjoyed them. While the class is going you can post questions all you want to the professor. I think they are worth the time, anyway...and really cheap to take (like -$100).
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Old 07-29-2010, 09:20 AM   #36
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Come up to Milwaukee, I go to 2-3 a year.........


You go to them, FinanceDude, or you put them on? I'd love to see you speak and hear what you have to teach.
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Old 07-29-2010, 09:49 AM   #37
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You go to them, FinanceDude, or you put them on? I'd love to see you speak and hear what you have to teach.
Go to them..........always interesting. Plus, anyone who buys a list so bad that they mail to FAs deserve my presence.........
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Old 07-29-2010, 10:32 AM   #38
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Go to them..........always interesting. Plus, anyone who buys a list so bad that they mail to FAs deserve my presence.........
Haahahahaha. I am sure they are quite entertaining.
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Old 07-29-2010, 10:58 AM   #39
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You all have pointed out things I didn't realize.
Number one in my mind is they may have a representative sitting at our table. That could make it very unenjoyable. I didn't think they would get that up close and personal. I was thinking more of eating, listening to their BS and slipping out the back. I guess they have had that pulled to many times. So now they corner you.
Do lines like, my money is tied up right now, I'll get back to you later work?
Or maybe, I'm not working right now, you probably better go after somebody that a has a dollar or two.
I'm sure if I decide to try it, I'll think of some kind of song and dance for them. They may have heard it before but who cares.
Steve

PS. I'm the kind of person that loves to piss off the car dealer folks.
Nothing I like better than wheeling and dealing with them, especially when I really don't care if I buy a car or not. They don't know how to handle that kind of play. The last time I played the game I walked out over three hundred dollars that we were apart. By this time the manager of the dealer ship (the guy who appeared on their TV commercials) was following me out in the parking lot begging. He finally said to me, you are enjoying this way to much. I just smiled and kept walking. He then said, I can't believe you are walking out over 3 hundred bucks. My reply was, I can't believe you are allowing me to walk, the ball is in your court. My Wife was with me, she said you know that was fun. If we get bored in retirement we'll just go harass car dealers. Kind of a pay back for all the BS when we really needed a car (younger days) and got jerked around.
Anyway, I figure I can eat and escape without being harmed !!!
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Old 07-29-2010, 11:17 AM   #40
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Good luck fending off the wolves Steve.

To me, attending one of those dinners voluntarily would be the equivalent of giving myself a root canal just to pass time...
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