Free dinners

I rather enjoy the free dinners if the food is good but sometimes they are not serving the same meals on the regular menu. I get that ‘holier than thou’ feeling since presenters almost never have info that I don’t know already. DW is terrified by any sort of pressure sales scenario so we stay away.

FWIW when we considered Solar they charged a flat $500 to remove and reinstall the panels if you need to work on the roof. Of course it would not make sense to put on solar if you know your shingles are shot.
 
Free? Then you'll get the kind of advice you paid for. Oh, you want more than that? Then expect to spend, a lot more.
 
I've been to several of these. Only one was not collecting a giant commission and a legit financial advisor. We talked later and he looked at my numbers, what I am doing and honestly said that his firm is for people that need help with their investing, I did not, just keep doing what I am doing....

If you need the help, it might be worth it. For many of us that retire early, money is a priority that we understand better than most.

"And all this science I don't understand, it's just my job five days a week" - Elton John

Many many many people that work in a field do not know it all that well. 80/90 % of the work is done by 20/10% of the people. Incredibly true

HaveEnough
 
Scrapr said:
Not a chance....what about Costco samples? No pressure selling with most people not buying anything. Free money! or at least lunch :D
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If they didn’t work, Costco would stop the practice. If it’s free, ask why.
 
thatguy said:
Well, we went to the 2nd meeting. He didn't push any products. He put our retirement financial picture on a big computer screen on the wall. We made some alterations to the data. We had him put in some what ifs for a couple LTC scenarios. Seems we have enough money and should be spending more.
So we spent $28 at a new to us Mexican restaurant on the way home.
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It seems he confirmed what you already know, so it would appear to have been a positive for you. Glad he didn't start pushing products.
 
I love going to these and my DH and I consider them a paid for date night. We usually don't go to fancy upscale steak houses so it's a nice little treat, and the entertainment is quite amusing to us.

I'm definitely more of a millionare next door type frugal, so the idea of someone handing me a $150 free meal to just sit there and pretend to listen for an hour still makes me happy.

The really fun part is that my DH can tell when the adviser said something akin to a porkypie or hyperbolic by just looking at me. He's learning a bunch about how advisers use fear/shock tactics and that numbers and scenarios can be massaged to reflect whatever the presenter feels will get him more interest in his pitch. I count this as a win/win because he's developing more awareness of people trying to take advantage of him in case I'm not around.
 
That’s great that some people enjoy these. I’m such a food snob on top of being somewhat introverted and extremely jealous of my personal time and schedule that it is extremely unappealing to me. Plus there is no such thing as a free lunch.
 
It sure seems like a benefit to me to meet some of these financial advisor types as part of a group without sharing any more than contact information, before deciding to sit down for a one on one meeting with one of them and sharing a bunch of financial & personal details.
 
DW totally refuses to do any.
 
imnontrad said:
Ask them if they will sign a statement stating that they will act as a Fuduciary at all times. And ask them how they are paid. If they waffle on either of these, going with them may be the most expensive meal you have ever eaten.
I like this interview form - https://static1.squarespace.com/sta.../1498328916101/Advisor_Interview_Form-rij.pdf
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I'm betting few honest broker/sales people will sign such a form. Realistically, there are few people in the business that actually perform as a fiduciary. Sad, really. Thanks for the form, though I wish I'd had it 30 years ago!
 
DrRoy said:
DW totally refuses to do any.
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That’s where I’m at too. For the folks saying nothing is free, it’s true but the cost is borne by the people who actually sign up. I’d NEVER do that.

They nearly always show a historical chart of the “stock market” ( S&P 500) without dividends. One time I asked the presenter if dividends were included and it totally knocked him off his pitch.
 
I don't do free lunch/dinner events like this, ever. tried it once about 30 years for a timeshare promotion, thought the salespeople were going to barricade the door and keep us hostage until we gave in. That was the first and last one. Not yet retired, so maybe I'll change my mind when I have more time than money.
 
thatguy said:
It sure seems like a benefit to me to meet some of these financial advisor types as part of a group without sharing any more than contact information, before deciding to sit down for a one on one meeting with one of them and sharing a bunch of financial & personal details.
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Wife and I went to about a dozen of these. After each I filled in an AARP report and sent that in.

It's a sales pitch and there's very little to learn IMO. For just a few I went for a follow-up. I wanted both of us to experience the sales pitches, and then dig deeper to see what they really mean.

TBH this forum has provided a wealth of information and perspective.

I would never trust my portfolio to one of these firms. I'm simply not in the wealth category where 2% in additional fees makes sense.

Between my spouse and two adult children, and Schwab, there is enough guidance available for us. YMMV.
 
LateToFIRE said:
I don't do free lunch/dinner events like this, ever. tried it once about 30 years for a timeshare promotion, thought the salespeople were going to barricade the door and keep us hostage until we gave in. That was the first and last one. Not yet retired, so maybe I'll change my mind when I have more time than money.
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Timeshare hawkers used to be a real annoyance on our winter trips to Florida. They offered free theme park tickets. You couldn't walk into a restaurant without encountering them. We weren't about to waste our time on them.
I don't see them so much in recent years.
 
LateToFIRE said:
I don't do free lunch/dinner events like this, ever. tried it once about 30 years for a timeshare promotion, thought the salespeople were going to barricade the door and keep us hostage until we gave in. That was the first and last one. Not yet retired, so maybe I'll change my mind when I have more time than money.
Click to expand...

I have heard too many horror stories about timeshare presentations!
 
I decided years ago that anything that was 'free' was either too expensive or unwanted.

Over the years we have turned down many free cruises, wonderful free vacations...you name it.
 
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