My first financial advisor discussions have ended with a quiet crash and burn. The Bogleheads’ Guide to Retirement Planning warned me about commission-based folks. I listened to them and then called him on some junk.
We met yesterday to catch up on some of the things we talked about the first time, such as pre-tax vs. post-tax investments, “real wealth” vs. “paper wealth”, etc.
Showstopper: he was trying to sell me insurance.
Lousy insurance at that.
His ideas of safe, “real wealth”, tax-protected investments were whole life and variable universal life insurance. Which he’d get a commision on for selling me.
Continue reading Financial Advisor: Not This One
So I’m trying to get life insurance. Just 20-year level term life insurance. It’s supposed to be cheap and easy to get.
Some of the big dogs won’t do online quotes, New York Life in particular. So I agreed to meet with a local agent yesterday morning and let him talk at me over coffee. Yes, coffee, which I don’t go for often. Luckily, it was at Panera Bread, so the coffee was pretty good, although a little aged.
We go through the usual rigmarole of “Oh, you used to be a teacher? So did I!” After the meeting, I think I knew pretty well why he ultimately left teaching, if I may be catty.
Mmm, blog. Yes, I can be catty. Tasty.
I knew insurance is a sleazy business, and this guy certainly isn’t the worst I could imagine dealing with, but it was still hilariously smarmy.
Continue reading Shenanigans with an insurance salesperson