This is probably why I thought you were a financial adviser. It looks like you said you've been one for 11 years.Well, I have been an FA for 11 years, and have never seen that in a VA. In a VUL or EIA product, DEFINITELY........I get those stupid cards and letters from Joe Smith Western Reserve Life promising 9-10% commissions...............the stuff is pure crap but someone is getting suckered to buy it somewhere in America everyday..........
Financial Malpractice Radio
- Thread starter ziggy29
- Start date
LOL!
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
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- Jun 25, 2005
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I was at my mom's this past week. She listens to call-in shows on the radio as well. Her favorites are the financial shows and the gardening shows.
If you think the financial shows are porn, then you should listen to the gardening shows. A listener asked how to get rid of moles in his yard. He gets a 15 minute treatise on the difference between moles and voles. I'm thinking, "Small rodents, digging through your yard. The same methods probably get rid of them." Anyways, the final answer was: "You have voles. Since your question was about getting rid of moles and you don't have them, it's time for a commercial break."
And don't forget that many folks decide who to vote for based on talk radio. Enjoy your weekend!
If you think the financial shows are porn, then you should listen to the gardening shows. A listener asked how to get rid of moles in his yard. He gets a 15 minute treatise on the difference between moles and voles. I'm thinking, "Small rodents, digging through your yard. The same methods probably get rid of them." Anyways, the final answer was: "You have voles. Since your question was about getting rid of moles and you don't have them, it's time for a commercial break."
And don't forget that many folks decide who to vote for based on talk radio. Enjoy your weekend!
OP
OP
ziggy29
Moderator Emeritus
Post-script to an old thread. He's actually been pretty good lately but this one floored me a bit:
Today I was outside in the garage listening, and a woman called in who was talking about her allocation to the TSP.
Among other things, she mentioned being in the G fund and the L fund.
First of all, he talked about the G fund being in government securities and that they have lost money this year. (The obvious implication is that the G fund, which I believe can't lose money, can lose money.) Hell, I wish I had access to the G fund for my safe stuff.
Next, he had no clue what the L fund was. Hello?!?! Yes, the L funds are fairly new, but I know what they are and I'm neither a federal employee nor a professional financial advisor. I had to call in to tell him (and the audience) what the L fund was.
Good grief.
Today I was outside in the garage listening, and a woman called in who was talking about her allocation to the TSP.
Among other things, she mentioned being in the G fund and the L fund.
First of all, he talked about the G fund being in government securities and that they have lost money this year. (The obvious implication is that the G fund, which I believe can't lose money, can lose money.) Hell, I wish I had access to the G fund for my safe stuff.
Next, he had no clue what the L fund was. Hello?!?! Yes, the L funds are fairly new, but I know what they are and I'm neither a federal employee nor a professional financial advisor. I had to call in to tell him (and the audience) what the L fund was.
Good grief.
mickeyd
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
You need to stay out of the garage Zig.
W2R
Moderator Emeritus
The share price of the G Fund is guaranteed to never decline. (Any dividends are incorporated into, and reflected by, the share price.) http://www.tsp.gov/rates/fundsheet-gfund.pdf
The G Fund is not guaranteed to keep up with inflation although it did from inception up until recently.
I think that access to the G Fund is a great part of our benefits package. It really helped me to keep it together (well, somewhat? I was terrorized) during the 2008-2009 debacle.
oma
Recycles dryer sheets
I think most of those radio shows start or end with a disclaimer that advice isn't binding or they can't be held legally to the advice they provide.
Re: G fund. A few weeks ago I converted my entire TSP account from I, C, and S funds to G in anticipating a ROTH conversion. I wanted to take advantage of the up market in the conversion. Little did I anticipate that the market would CONTINUE to go up.
Boy am I kicking myself over that move.
BTW, few weeks ago visited Ameriprise (formerly HR Block?) - and the advisor didn't have a clue what TSP was nor did he know what beta and alpha met when talking about funds. He has been an advisor for years.
I took off running the other way once I picked up on his cluelessness.
Re: G fund. A few weeks ago I converted my entire TSP account from I, C, and S funds to G in anticipating a ROTH conversion. I wanted to take advantage of the up market in the conversion. Little did I anticipate that the market would CONTINUE to go up.
Boy am I kicking myself over that move.
BTW, few weeks ago visited Ameriprise (formerly HR Block?) - and the advisor didn't have a clue what TSP was nor did he know what beta and alpha met when talking about funds. He has been an advisor for years.
I took off running the other way once I picked up on his cluelessness.
kyounge1956
Thinks s/he gets paid by the post
- Joined
- Sep 11, 2008
- Messages
- 2,171
IIRC, Ameriprise used to be American Express, not HR Block. But I think running away was a smart thing to do. I didn't know any better when I got in contact with them and now I'm stuck with a VA inside my Roth account. I think I bought it five years ago and the surrender charge is still above 6%.
