We went to a retirement seminar

[Gumby]

I'd rather pay for my own food, thanks.

 

[6miths]

A buddy and I used to go to these frequently. Great food and priceless entertainment.

 

[sroby2020]

Ah yes, I remember AL Williams. They recruited me to "join the team"

The Amway of financial services. One meeting was enough for me.

Are they the one that used the "Just Do it!" slogan way before Nike got a hold of it?

 

[HaveEnough]

Been to a few of these.

Most of the sales people like to hear themselves talk and talk and talk.

The first one I went to, it sounded to good to be true, not understanding the "investment". So, I asked questions. I had too many so we met at their office. They wanted me to mortgage my house and put it into Equity Indexed Universal Life insurance. Yea, put a second mortgage on the house because the money was doing nothing and they would do better...

The best part and to me the "truth" of this "investment" that took another meeting to dig out of the agent was the commission. Here ya go, if you give them 100K on Jan 1, take the fixed income option of 5% for the first year (you could do fixed or market each year) on Dec 31 of the same year the account would be worth about 90K

They make 15% commission on this one. That is how they can afford the Prime Rib dinners.

Another piece of this puzzle is using loans to pull out your money tax free. Let's think about that. Compounding principal balances with interest. Each year ya pull money out, less is working for you and more is charged interest by the insurance company to use your own money.

 

[mickeyd]

Several years ago, before DW retired and I had a lot of time on my hands, I attended about 20 of these "free meals." I usually spent a bit of time @ the bar prior to the activities.

My advice: Enjoy the free meal, but don't drink the Kool-Aid.