Join Early Retirement Today
Thread Tools Search this Thread Display Modes
False advertising?
Old 08-20-2014, 10:20 AM   #1
Thinks s/he gets paid by the post
nash031's Avatar
Join Date: Jun 2013
Location: Bonita (San Diego)
Posts: 1,750
False advertising?

Every morning on my way to work, I listen to Colin Cowherd on ESPN radio. Every morning, at 7:15, I hear a commercial from some financial website/book/brochure advertising how their investment vehicle "beats the pants off your 401K or IRA," or "outperforms any 401K or IRA," or "the super-rich have been using it," or " benefits of your IRA and 401K. Sounds good, right? WRONG! ... TAX DISASTER!!... Imagine a tops tax rate of 94% like in the 1940s." (Nevermind that 99.9% of us would never pay that tax rate anyway, even in the extremely unlikely even that it did happen... oh by the way, ROTH.)

I understand it's all financial noise and I smile when I hear it, but just this morning I was wondering how they got away with that type of advertising. First of all, these programs (which I assume are life insurance annuities) do not beat the pants off of many 401Ks and IRAs, except probably in years like 2008 and 2009. Second, while not "false advertising" per se, it strikes me as particularly disingenuous to say that the ultra-rich are using these annuities and thus we should too because, well, everyone's situation is different and for Average Joe to use such an annuity likely means he'll reduce his standard of living in retirement.

I thought about how to call them on their "beats the pants..." claim, but then they started talking about Johnny Manziel and I quietly went back to bemusement at the Browns' QB situation.

"So we beat to our own drummer in the sun;
We ask for nobody's permission to run.
I just wanna live in a world like that;
Now I'm gonna live in a world like that!" - World Like That, O.A.R.
nash031 is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 08-20-2014, 12:46 PM   #2
Thinks s/he gets paid by the post
zinger1457's Avatar
Join Date: Jul 2007
Posts: 2,281
I keep hearing this one clown on the radio on Saturday mornings. It's actually a 30 minute advertisement but if you listen to the intro they try and sell the program as a retirement financial education program. For the entire 30 minutes he tells you about this great can't miss product that he has for you that offers high/guaranteed returns. It's obvious a variable annuity product he's trying to sell but he never comes out and calls it that by name. And yes, I actually listened to the entire show once. The sad part is it's been on the radio for a long time so he must be getting a lot of people buying into it.
zinger1457 is offline   Reply With Quote

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
Orbitz/Cheaptickets: False Advertising? LeBlanc Travel Information 20 06-25-2008 02:51 PM
Study: False Statements Preceded War Wags Other topics 13 01-24-2008 06:49 PM
IRA RMD True or False TromboneAl FIRE and Money 8 07-09-2006 10:51 AM
Hybrids - False Economy TromboneAl Other topics 30 04-30-2005 07:36 AM
True or False? Tommy_Dolitte Young Dreamers 1 03-07-2005 08:34 PM

» Quick Links

All times are GMT -6. The time now is 11:12 AM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2020, vBulletin Solutions, Inc.