Retirement Elevated?

[Skeptic]

Received a brochure in the mail advertising a $50, two-day "retirement planning class" under the name "Retirement Elevated". Anyone have any experience of this? A little Googling around indicates that the company at the root of this, the Elevated Retirement Group or something like that, develops the course materials and sells 'em to local third-party financial professionals around the country to do the classes, probably as a means of drumming up individual FP business. I don't expect to learn much new myself; and despite the claims in the brochure, I do expect to be pressured into buying something more. But I'm thinking it might be a good way to familiarize the DW with some of the concepts and vocabulary of retirement, and if so, then the price seems right. Thoughts?

 

[REWahoo]

I'd be skeptical that far from "a good way to familiarize the DW with some of the concepts and vocabulary of retirement", you'd be paying to become a captive audience for two days of brainwashing/sales pitch. No thanks.

 

[rodi]

The idea of paying $50 for a chance to have a hard sell pitched at me and to have them tell me ideas that might not be accurate for my situation.

I'd rather do some reading (and share books with DW) than put up with that.

I don't like time share pitches, either.

 

[Bestwifeever]

Seriously? Tell DW to read these boards and spend the $50 on a dinner for the two of you. Are you involved with the outfit?

 

[Skeptic]

Involved? No; my request for others' experience is genuine. It's just easier sometimes to get someone to sit and listen than to get them to read about something they're not particularly interested in, but should be. I guess I'm (over?) confident about anyone trying to brainwash me with a sales pitch.

 

[rodi]

Do you enjoy getting hard sells pitched at you?
Will you bring along various studies to debunk the crap they are likely to spew at you - like how they can manage your money (and collect fees) and still outperform the market (over the long term.) (Hint - it hasn't been done yet.)

Seriously - it sounds like torture to me... and your wife is likely to get misinformation, not valuable education.

 

[Davis65]

$50 for a two-day course? That's so cheap! Where else can you get a two-day course for that little?

Seriously, they are not making money on course fees, so they must be making it through sales. You could call a bunch of insurance sales people who will do sales pitches to you for free, and in the comfort of your own home.

 

[bingybear]

two days... 2.5 hours each day scheduled... not including breaks. Being taught here @ a community collage. But looking deeper, it is not being taught by the school. A "local retirement income specialist" is teaching it.

I've met this FA... I pass. I'm sure it a different FA in different regions.

edit: looked at others where the presenter is from GFPC. More of a large wealth management firm

 

[Skeptic]

Folks, I truly appreciate the responses, but I wasn't asking for general opinions on the scheme; I was pretty sure what those would be. I was asking for *experience* with it. It seems like the "Elevated Retirement Group" has done a pretty good job of selling their course materials to a variety of financial advice types around the country, so I thought maybe other retirement-interested folks might have run across them and know a bit more about the operation, that's all.

FWIW, I'm guessing that, since they're developed to be used by different financial professionals, the course materials themselves are probably heavy on terminology and truisms and light on specific claims or products. On the other hand, they probably leave artful openings for FPs to dwell on stuff they're particularly into---insurance or annuities or investment advice, etc.

 

[MRG]

If you want first person experience, probably hard to come by. If you like reviews, Glassdoor, Yelp, put ripoff after their name. There's some interesting things said about life there.

I'd say your expectations are spot on. High pressure sales job by a hungry person. I would guess it depends on how your DW takes pitches like that. Worst case you end up with a shiny new variable annuity and a j*b for life.

 

[bingybear]

I went to something like this a few years ago... not sure it was this company or not. There was not a lot of sales pressure. They got several thing wrong, but most things right. For me is was mostly old hat... just basics.
The format for the class was very similar to this one.

Assuming it is like the one I took, if you are reasonably literate... you won't learn much. Much of the course I took was good for someone who was weak at investing. But they went through a lot of material... the real beginners had trouble keeping up.

What I went to may not have been this exact course. We went through 2 3 ring binders of info over the two days.

 

[Skeptic]

bingybear, that sure sounds like the same thing, and your experience matches my expectations. Thanks!

 

[Sunset]

I've gotten some offers similar to this to take a retirement course at the local community college, which wraps it in a blanket of authenticity. However carefully reading it , one realizes it will be a FP selling something.

OP - Take your lovely Wife to the library and get out some books on beginning investments.
What are you going to do if your wife tells the FP, "ignore my husband, here is a check for $40,000 to invest, bless your heart". ?

 

[gretah]

Go to your library's website and reserve this book for your DW:
Making the Most of Your Money Now
by Quinn.

Best financial info book I've ever read.

 

[ERD50]

Folks, I truly appreciate the responses, but I wasn't asking for general opinions on the scheme; I was pretty sure what those would be. I was asking for *experience* with it. It seems like the "Elevated Retirement Group" has done a pretty good job of selling their course materials to a variety of financial advice types around the country, so I thought maybe other retirement-interested folks might have run across them and know a bit more about the operation, that's all.

FWIW, I'm guessing that, since they're developed to be used by different financial professionals, the course materials themselves are probably heavy on terminology and truisms and light on specific claims or products. On the other hand, they probably leave artful openings for FPs to dwell on stuff they're particularly into---insurance or annuities or investment advice, etc.

I seriously think the only thing you would learn is how places like this try to sell you on the idea that you need professional help to manage your finances, and probably won't bother to highlight the fees and high cost funds they will put you in.

Is that what you want DW to learn? Really?

Spend some time here, and I think you will agree that the hardest thing to understand about personal finance is how simple it can be ( a two-to-three low cost index fund portfolio, and forget about it.) That would be time better spent, IMO.

-ERD50

 

[Whisper66]

No experience with this particular event. However, I took my DW to 2-3 dinners offered by local financial companies where they give a talk on a retirement topic and then answer questions. Of course the end result is they would like to have you trust them to manage your portfolio. I chose to manage our retirement funds myself.

I found the dinners useful from a couple perspectives. It helped me test what I knew and in areas I was weak in it forced me to dig in and learn a bit more. The bigger benefit was the discussions with my DW after these dinners. She wasn't too interested in finances but it became pretty clear to her that I knew most of what was being discussed and that I could manage our money well. I think it raised her comfort level with me managing our money.

 

[Senator]

I found the dinners useful from a couple perspectives. It helped me test what I knew and in areas I was weak in it forced me to dig in and learn a bit more. The bigger benefit was the discussions with my DW after these dinners. She wasn't too interested in finances but it became pretty clear to her that I knew most of what was being discussed and that I could manage our money well. I think it raised her comfort level with me managing our money.

+1.

I actually paid $49 for a local FP to give a 6 hour course, over 2 Saturdays. Lots of material, and it confirmed that I probably could have taught the class.

$50 is not a bad deal, if you learn just one thing. Or confirm that what you know is accurate.

Retirement is generally a one-way ticket. Make sure you are packed and ready to go.

 

[psweath]

I haven't been to this specific offering, but I've been to two or three others with the same format, similar price and duration, also at the local community college. I found all of them useful. No earth-shattering revelations as far as my financial situation, but more of an affirmation that I've got the basics right. All of them offered a no-charge consultation with the presenter at his company, but it was a soft-sell, in fact, not much of a sell at all - I was expecting more, and was pleasantly surprised that I never got the hard-sell. It was an offer, an invitation, no pressure at all. So...I took advantage of it with a couple of 'em. I thought "heck, I've got an hour to spare, let's see what this guy has to say." One of them looked at my situation and basically said, "you don't need me - you're obviously on top of all this". The other had some wild proposals (for example, "when we see a 10% drop in the market, we take you to all cash") which I found bizarre but fascinating. So of course I didn't sign on with anyone, and never had any intention of doing that anyway.

I hadn't been on any kind of educational campus in years either, and it was kinda fun feeling that vibe again. I also enjoyed meeting other attenders - and when I divulged that I was 4 years into retirement at the age of 60, several wanted to chat and I felt useful in providing some insights into what had worked for me.

So, maybe I lucked out by not getting the hard-sell? Heck, if you don't like what you're feeling or hearing, just get up and walk out - on the other hand, you might enjoy it.

 

[rayinpenn]

So, maybe I lucked out by not getting the hard-sell? Heck, if you don't like what you're feeling or hearing, just get up and walk out - on the other hand, you might enjoy it.

I suspect your experience was the exception rather then the rule. Every Saturday I hear them screaming "crash proof" retirement. Interestingly enough one couple was quoted "our returns averaged 5% per year for the last three years". I just looked at the S&P returns for the last three years and wow did they pay dearly for that security....

I don't like the notion of being locked in a room with someone who wants to sell me something that isn't in my best interest. The gentlest word I can use is disingenuous - other words come to mind but not appropriate in this forum.


Sent from my iPad using Early Retirement Forum.

 

[CJINTHED]

Doing the seminar now

For Skeptic, I am actually in between session 1 & 2 of the Retirement Elevated seminar now. The good news is that while the concepts of Income Planning and Investment Planning (the two main segments of part 1) were quite familiar, I did gain a bit of insight about Social Security strategies before and toward the start of retirement, and about annuities.

However, as others here have said, there is no free lunch (actually no food at all, but I only paid $39 for both my wife and me to attend this, so I can bring my own snack -- but I digress). The sales pitch, so far, is implicit but whacking us in the face: all the things offered by the presenter (Kirk M. Cassidy, of Senior Planning Advisors Inc) as being "wrong" about the usual advice from FAs can only be rectified by using his company's services to plan one's retirement. While I am not entirely convinced (I have fee-based planning through TIAA-CREF that has been very helpful for nearly a decade), the points he makes about paying fees, particularly hidden fees, do resonate and make me curious about what his firm might be able to offer.

In sum, we received a copious folder of information, the presentation is packed with detail and not terribly boring (although consider the topic!), so I do not feel my time and bit of cash has been wasted. I will post here after part 2, which is next Tues evening.

 

[MichaelB]

Hi CJINTHED

Welcome to E-R Forum. Why don't you stop by Hi, I am... - Early Retirement & Financial Independence Community and tell us a little about yourself?

 

[nmnative]

So how do those guys at Elevated Retirement get paid?

As lots of other people have noted, $50 isn't bad...but what do they want long term? I don't know everything, but I am not a baby at this stuff either (I find I really need to learn more about SS and Medicare in particular). We used to have Ameriprise manage our stuff and I felt like they were stealing from us--and we disagreed with them on many things and they didn't follow our instructions and invested in ways we didn't agree with. Now I do all of in myself and wonder if there are things I'm missing...