Things that piss me off . Investment advisors

[BigAl]

Ok . I'm pissed .... as usual .....

I'm presently settling my Fathers estate . Its kinda involved and will take awhile to administer his estate per his wishes . Now Pop did pretty well in life , he was a self made very successful man .

So ,,, today I end up going to the big city ( Sacramento) to a large insurance company to make sure my paperwork is in order before sending it off to the claims department in "God knows where" on the estates behalf .Its not a big claim by most standards .

I hate insurance companys .


I no sooner get through the door and the guy wants to know my net worth and how was I able to retired at 47 .

Then he starts telling me how much money he can make me if I turn over my investment business to him .. WTF !!!

It appears Dads paperwork seems to be non important and the last damn thing they want is to pay out the claim . I keep turning the conversation back to the paperwork and he wants to talk about getting together and all the good he can do for me .Crap, I think at one point he may have even called me "brother"

So heres why I am pissed :

Where was this guy when I had $12.90 cents to my name and freshly divorced??? He would have called the cops on me if I had walked in his plush office in the old days and asked for advice . I sure as hell did not have him around to help me get to where I am at today . Why do I need him now ? He is the one working to make ends meet , I retired 8 1/2 years ago .

So whose the smart one here . Me or the dumb ass that wants to charge me .. If he is so smart , investment wise , why is he still working and not retired too .

I have never been so amazed at how many people want to help me keep my money invested wisely . Not one wants to do it for free . Hmmmmm,,,, sounds like they might be more interested in lining there own pockets with commisions and charges . They sure as hell never offered ,nor did I need them when I was busting my ass to get where I am today .
AFTER I finally assured him I was probably going to financially survive without his valuable needed advice and assistance and he realized that I was not going to adjust my opinion we finally got around to looking over the Dad's paperwork . I had it right and could have just mailed it in as it was . Go Figure !!!
As the wife and I climbed into the very plush Elevator ,I turn and asked her what her opinion was . She just smiled real sweetly and said exactly what I was thinking ....... Leech .

 

[mtntopper]

I see and hear so much hoopla about investment and estate planners taking care of you by doing just what you say happened to you today. I figured if I was smart enough to make, then I better be smart enough to invest and take care of it on my own. Your wife is smart. Take her advice don't let them live off your hard ass work....bunch of leeches who don't know how to do an honest days work.......

 

[XeVfTEUtaAqJHTqq]

Clark Howard (Radio Frugality Expert) was mentioning how the SEC wants to regulate the investment arms of insurance companies but the insurance companies are fighting it like crazy because they would then have to report on what a crappy job they actually do.

Or something like that. The "jist" of it was to avoid them scum.

 

[BigAl]

Clark Howard (Radio Frugality Expert) was mentioning how the SEC wants to regulate the investment arms of insurance companies but the insurance companies are fighting it like crazy because they would then have to report on what a crappy job they actually do.

Or something like that. The "jist" of it was to avoid them scum.

I like that Clark Howard guy !
I was wondering if I should have told that agent today , to figure out the number of payments my Dad made on those old Policies from 1959 and if he had invested it at simple interest in a Bank , what it would have been worth today ?? The turth is It would have been about 5 times what the value is now through the insurance company.

 

[The Tourist]

Ok . I'm pissed...the guy wants to know my net worth and how was I able to retired at 47 .

Tell 'em what I do. They never call back again.

"My cousins are in the mafia."

Oh, sure, there are some drawbacks. The Girl Scouts don't come around often to sell cookies, and I like those chocolate mints. Then one year I shot my mouth off about that at Thanksgiving at my Aunt Clara's.

The next weekend I got a whole trunkful of cookies...without the tax stamps...

 

[Erik]

Tell 'em what I do. They never call back again.

"My cousins are in the mafia."

Oh, sure, there are some drawbacks. The Girl Scouts don't come around often to sell cookies, and I like those chocolate mints. Then one year I shot my mouth off about that at Thanksgiving at my Aunt Clara's.

The next weekend I got a whole trunkful of cookies...without the tax stamps...

Keebler Grasshopper cookies are a very close substitute for half the price...

 

[The Tourist]

Keebler Grasshopper cookies are a very close substitute for half the price...

Oh, no doubt you're right. But this recession has hit my cousins, as well. I was just glad to see them working again...

 

[Galvatron]

BigAl i hear ya....what would life be like without these jerks

 

[Trakternut]

Ok . I'm pissed .... as usual .....

I'm presently settling my Fathers estate . Its kinda involved and will take awhile to administer his estate per his wishes . Now Pop did pretty well in life , he was a self made very successful man .

So ,,, today I end up going to the big city ( Sacramento) to a large insurance company to make sure my paperwork is in order before sending it off to the claims department in "God knows where" on the estates behalf .Its not a big claim by most standards .

I hate insurance companys .


I no sooner get through the door and the guy wants to know my net worth and how was I able to retired at 47 .

Then he starts telling me how much money he can make me if I turn over my investment business to him .. WTF !!!

It appears Dads paperwork seems to be non important and the last damn thing they want is to pay out the claim . I keep turning the conversation back to the paperwork and he wants to talk about getting together and all the good he can do for me .Crap, I think at one point he may have even called me "brother"

So heres why I am pissed :

Where was this guy when I had $12.90 cents to my name and freshly divorced??? He would have called the cops on me if I had walked in his plush office in the old days and asked for advice . I sure as hell did not have him around to help me get to where I am at today . Why do I need him now ? He is the one working to make ends meet , I retired 8 1/2 years ago .

So whose the smart one here . Me or the dumb ass that wants to charge me .. If he is so smart , investment wise , why is he still working and not retired too .

I have never been so amazed at how many people want to help me keep my money invested wisely . Not one wants to do it for free . Hmmmmm,,,, sounds like they might be more interested in lining there own pockets with commisions and charges . They sure as hell never offered ,nor did I need them when I was busting my ass to get where I am today .
AFTER I finally assured him I was probably going to financially survive without his valuable needed advice and assistance and he realized that I was not going to adjust my opinion we finally got around to looking over the Dad's paperwork . I had it right and could have just mailed it in as it was . Go Figure !!!
As the wife and I climbed into the very plush Elevator ,I turn and asked her what her opinion was . She just smiled real sweetly and said exactly what I was thinking ....... Leech .

I think I bolded the key point in your post. He wants to help you make a living for him. Hand him a shovel and tell him to dig ditches for a few years, salt that pay away as best he can, then maybe he can retire too!!

 

[k-dog]

I am with you Al, when my dad was thinking about retiring he checked with an investment guy. The guy says sign all your money in your savings and Thrift Savings Plan over to me and pick up a part time job and you will be fine. Granted my old man isn't the smartest guy in the world but he isn't stupid either. He asked the guy what part of "retirement" did he not understand. He then continued with why would I want to "retire" from a good paying job to pick up a low paying part time job. Dad retired at 58 and has been doing just fine.

 

[The Tourist]

continued with why would I want to "retire" from a good paying job

You touched upon another very important issue--not everything is money related.

Your dad might be like me in this fashion. If you reach a point where you can live comfortably with less stress, than the "job" becomes a lower priority.

I make about one-third as much as I did in my adult job, but I enjoy my time a lot more, and that fact alone has probably added quality years to my life.

 

[k-dog]

You touched upon another very important issue--not everything is money related.

Your dad might be like me in this fashion. If you reach a point where you can live comfortably with less stress, than the "job" becomes a lower priority.

I make about one-third as much as I did in my adult job, but I enjoy my time a lot more, and that fact alone has probably added quality years to my life.

That was exactly what my dad was thinking. He would rather spend time with grand kids, do some traveling and whatever else then continue working.

But the thing that really got dad was when the guy told him he could retire and then get a part time job which isn't really retiring. Mom and dad live very comfortable and travel and everything and if he would have went through the investment guy, he would be hurting right now.

 

[The Tourist]

a part time job which isn't really retiring

You have to pick carefully. I hated white-collar work, but I enjoy craftsmanship. My part-time job allows me to make a little bit of money, and dowork I'm proud of.

It's not really "work" in that regard.