November 20, 2014

The financial industry creates products and services that make money for THEM, not YOU. How can you defend yourself?

3 thoughts on “November 20, 2014”

  1. Brennan Haag says:

    You can defend yourself by educating yourself. You should read books by actual experts that don’t have conflicting interest. You need to know exactly what you want to invest in and not let anyone make you invest in something you didn’t want. You should only invest in investments that don’t have fees or loads or something that is being actively managed.

  2. Garrett Haag says:

    The more you know about what they are trying to SELL you the better off you will be. They are sales people at there core and are trying to sell you stuff not really help you for the most part. They have a conflict of interest to sell you the highest commissioned stuff they have so they make money. You want to avoid these people and hand things yourself. Once you know how you can do your own investing through Vanguard and get no load index funds and you can buy your own term life policies from term4you.com if you need one. You never should go in to an agents office. That is there home territory and dont let them get the high ground.

  3. Mike Finley says:

    Great comments, gentlemen. Let’s recap.

    (1) Educate yourself from independent sources. Eric Tyson, Jane Bryant Quinn, Jonathon Clements, Jason Zweig, John Bogle, William Bernstein, Charles Ellis, Rick Ferri and Daniel Solin are good places to start.

    (2) Avoid commissioned based “helpers.” Their conflict of interest tells us we must avoid them. This includes the vast majority of financial advisors, investment brokers, and life insurance agents. Stay far away from them!

    (3) Learn how to go around those “helpers.” Invest in your company retirement plan at work, a Roth IRA at Vanguard, and focus on no-load (no commission) index funds all along the way. This keeps your costs low and your total return AFTER costs high as time goes rolling along. Still not sure? Listen to John Bogle:https://www.youtube.com/watch?v=pDJvEleXY5o.

Leave a Reply to Brennan Haag Cancel reply

Your email address will not be published. Required fields are marked *

The Crazy Man in the Pink Wig