I am a young military officer and went to a financial seminar this morning put on by the base. The speaker was a rep from Edward Jones and although he was not allowed to plus his business or himself for financial products, the lady from the base who put on this whole thing did it several times. That wasn't really the main problem. He continued to tote the idea that you should plan on retiring at age 65+ when almost all military will be eligible for pensions at age 42 and below. He also continued to 'quietly' promote himself by telling everyone they need a professional. To restate some of his examples, you need a professional just like if a pilot passed out you wouldn't want to fly the plane yourself, you would want an experienced pilot. My favorite is that you need a professional because they can beat the market 91% of the time. My biggest issue with this whole thing was that the people in the seminar were eating up everything he was putting down. In fact they were asking for more seminars from him.
Someone asked about index funds and he said "that is for your anuities." The whole time I was ready to leave. I was hoping to get some military sepcific information on investing and instead got your standard work until your 65+ answer and you can't do it on your own. I've been thinking about running a monthly financial independence seminar for airmen in my section but I don't have any paper certifications, only knowledge on the concepts that I'd like to share with them. I feel obligated especially after they were just eating up everything he said while I sat in the back practically rolling my eyes. At the same time, maybe it's not my business to get into it and should just focus on my own FIRE plans. Anyways, just venting about the type of financial education given in this country.
Thoughts or comments?
Someone asked about index funds and he said "that is for your anuities." The whole time I was ready to leave. I was hoping to get some military sepcific information on investing and instead got your standard work until your 65+ answer and you can't do it on your own. I've been thinking about running a monthly financial independence seminar for airmen in my section but I don't have any paper certifications, only knowledge on the concepts that I'd like to share with them. I feel obligated especially after they were just eating up everything he said while I sat in the back practically rolling my eyes. At the same time, maybe it's not my business to get into it and should just focus on my own FIRE plans. Anyways, just venting about the type of financial education given in this country.
Thoughts or comments?