Free Meals and Retirement "Seminars"

[CoolRich59]

Sorry if this has been covered elsewhere. I did a search, but didn't see a relevant thread.

We regularly get mail inviting us to attend a complimentary dinner with a 'retirement planning seminar', 'workshop', etc. held at a nice restaurant (Ruth's Chris, Morton's, etc.).

I look at these as kin to those "free vacations" where all you need to do is sit through a never-ending, hard sell, sales pitch for a timeshare condo. The wife, however, is of the opinion that its worth sitting through a sales pitch in exchange for a free meal at a nice restaurant.

I have doggedly said 'No' each time, but we got another invite today and she is twisting my arm again. So, this time I thought I would ask folks here.

Thoughts? Opinions? Ridicule?

 

[Z3Dreamer]

50/50 on here. Some like the free food and manage to sneak out soon after the meal. Others can stand them and turn them all down. I am in the second camp.

 

[RobbieB]

The dinners are all soft sell, you can get out easy.

The rest will be hard sell you can be sure.

Try one for the wife and then complain about the food and the service and that a cheeseburger at McDonalds would have been better.

Maybe she will leave you alone then.

 

[6miths]

I had a work buddy and we used to go to these together and had fun with them. Was kind of a game to see which of us could spot the half-truths the quickest. Was always a nice meal and usually solid entertainment. DW has gone to a few with me and hasn't minded them and they usually spur useful dialogue between us in the days following.

 

[CoolRich59]

Try one for the wife and then complain about the food and the service and that a cheeseburger at McDonalds would have been better.

I like your style. I could wear my John Belushi suit and ask the guy at the next table "How much for the wife?"

 

[CoolRich59]

I had a work buddy and we used to go to these together and had fun with them. Was kind of a game to see which of us could spot the half-truths the quickest. Was always a nice meal and usually solid entertainment. DW has gone to a few with me and hasn't minded them and they usually spur useful dialogue between us in the days following.

Thanks. Despite my adolescent impulses, I'm thinking this is the way to go.

Unlike a timeshare presentation, the pitch can't last much more than an hour.

If it's a hard sell pitch, I can say "I told you so!" On the other hand, we might just learn something.

 

[txtig]

I get these all the time. Haven’t attended any.

 

[audreyh1]

Don't do free meals or cheap says for sitting through sales pitches. Got better things to do with my time.

We can afford to buy our own meals - even fancy ones!

 

[homestead]

For me, Life is too short. Take your wife to the same restaurant minus the sales presentation.

 

[audreyh1]

Yeah - maybe the problem is the wife wants to be taken out to eat!

 

[harley]

If I need a free retirement meal I'll go to Costco with the rest of the buffet crowd.

 

[Sunset]

Next year win an Olive Garden pasta pass and your wife won't be looking forward to a restaurant meal after a month

 

[CoolRich59]

Yeah - maybe the problem is the wife wants to be taken out to eat!

That is definitely part of it.

The problem is "free" is her favorite item on the menu, while I have always subscribed to the saying that "If you're not paying for something, then you're not the customer—you're the product being sold."

 

[6miths]

Happy wife...

 

[travelover]

All I ever fell for was a free portfolio review with Ameriprise in exchange for a "free" airline ticket. Of course, they just take your information, plug it into a computer and print out a book of graphs that they don't even understand then try to sell you a more comprehensive package. Turned out the airline ticket was actually a companion ticket on a full fare ticket which I'd have to buy myself. It was actually cheaper to buy two discount tickets, so the whole offer was a scam.

I've never taken any of the "free" meal offers.

 

[robnplunder]

All I can say is that life is too short to sit through these things for a meal. As I get older, my time has become the most important thing in my life.

 

[Amethyst]

These are now in Amethyst's Big Book of Nope.

We used to go to these occasionally, when the meals were better, they gave you wine, a second cup of coffee etc.

In the last few years, the local [-]shills[/-] financial consultants have gotten [-]canny[/-] cheap. They advertise the best restaurants, but you get the cheapest fixed-price group meal, no wine, and rushed/slap-the-plate-down service. And while some presenters will talk while you're eating, others make you sit through a 90-minute presentation before you are fed!

 

[racy]

As others have said, take her out to a nice restaurant. The money you save on the annuity product being pitched will buy many nice meals.

 

[flintnational]

Its not a free meal. You and your wife would be receiving compensation. Accordingly, you would no longer be retired but a w*rking stiff and we might revoke your FIRE status.

I agree with the others. Just take your wife to dinner. Much more pleasant option.

FN

 

[JoeWras]

Years ago, I put myself on the "Do Not Mail" list and never got one of these, or an AARP mail. And I'm happy.

Meanwhile, DW gets these free dinner invitations at least twice a week (really) from various finance firms. She never opted out of the DMA mails.

We just shred them. No time for that nonsense. If FAs are making that much money to spend on marketing, I see that as a problem.

 

[DrRoy]

It's totally a sales pitch. Sometimes the food is worth it and sometimes not.

 

[Badger]

Over the past 8 years or so I must have received 2 or 3 of these invitations each week and have yet to go to any. Although I have been tempted a time or two just for the experience. I just haven't been sufficiently motivated since my own retirement plans have worked well for me and they don't have anything to offer that would be of interest for the time spent.

Cheers!

 

[Bryan Barnfellow]

If it's a hard sell pitch, I can say "I told you so!" On the other hand, we might just learn something.

I hope that when you wrote the above all kinds of alarm bells were going off in your head, like they were in mine (on your behalf)!! Behavioral economics suggests that what you might learn is a hard lesson.

My suggestion: avoid at all cost and just go out for a pleasurable dinner with your wife, where the only expectation on you is a nice tip for mediocre service

-BB

 

[athena53]

I'm not a restaurant person so these don't appeal to me. What I just realized, though, is that I rarely get them anymore. Two years ago I moved from a tony, shop-till-you-drop suburb with multiples of every major restaurant franchise, to a smaller house in a very nice area of suburb with more blue-collar demographics. Hmmmm. I guess they figure there's less money to be found in this Zip Code. Fine with me.

 

[CaptTom]

We went to one. Actually followed up with the "financial planner" (read "insurance salesman") who gave the presentation. Provided all kinds of info and set him on trying to come up with a plan.

He couldn't convince me that anything he was recommending would actually benefit me. I could see where his commission would be pretty nice though.