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« FMF March Money Madness, Round 1, Posts 61-64 | Main | Getting Rich Quickly »

March 16, 2013


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In the middle of this timeframe, one of the greatest economic upheavals in our country, I have not lost a single client any money. You might say, “What are you doing, earning those 3, 4, and 5 percent returns? No. We’ve been doing much better than that. I’ve actually averaged better than 7 to 8 percent in the past five years. Now 8 percent may not sound like it’s setting the world on fire, but do you know according to the “Rule of 72,” I can double your money in 9 years with just an 8 percent return, and I don’t have to take risks to do it? Let’s see how to accomplish that.

So how do you accomplish it?

Telling me all the scary stats isn't telling me.

Is that a 7-8% return ON my money or a return OF my money? Or can I give you $1000 and you will give me $2000 in a decade???

Not trying to be mean, but I strongly dislike mixing insurance and investing.

Stop selling your blog space. Posts like this really damage your credibility as a financial blogger. Whatever they are paying you isn't worth it, FMF just lost some respect from me.

Bill -

1. I do not sell blog space. This is an excerpt from a book I selected to run.

2. If you don't like to read differing opinions on personal finance, you won't like FMF.

So in the market I can expect 5% with crazy risk but with this planner I can make 8% with absolutely no risk and no taxes by using "specific strategies allowing them to benefit from any gains in the market while avoiding any market loss". Good to hear, I'll sign right up.

By the way, the answer to "How long will it take the market to give me a total of 100 percent return?" was 3 years, not forever. (I just rode that road 2009-2012).

"For example, when you pass away, any money left in your IRA will be taxed at ordinary income rates. If you leave a sizable amount, in the eyes of the IRS you are “rich” in the year you die, and 40 to 50 percent of your IRA may be wiped out by taxes before your heirs ever see a dime. These are all reasons to be proactive now"

No, just name a benficiary to your IRA. Makes no difference if it goes to spouse. If it goes to non-spouse, it doesnt go through probate, and the heirs can take RMDs instead of lump (which are tiny, not gonna make someone rich in the eyes of the IRS). Of course, somebody loses out on the immediate business of setting up a trust for you...

I was going to continue but don't see the point...

"“Kris, if you could show me how to have the safety, maybe of a bank CD or a government Treasury bond, and yet have a little better opportunity than they’re offering, that would pique my interest.”

Fortunately, there are ways to do exactly this."

I'm calling BS on this one. Even a fixed annuity has more counterparty risk than a bank CD or US Treasury, and I doubt that's what this guy is selling.

I'm glad to hear that this isn't a sponsored link. I've been reading FMF for a long time and I think the quality of the content is quite good. While I don't always agree with your views or those of various commentators I believe that everyone comes by their opinions honestly.

But I went back and reread the whole post again and had the exact same reaction to it. It looks like an advertisement to me. You've got a link to Amazon at the top with very vague and misleading content in the excerpt. It screams late night infomercial, I expect part 3 to be about investing in tax liens and forex trading (that's a joke).

This quote was the most telling in the post. "I can double your money in 9 years with just an 8 percent return, and I don’t have to take risks to do it? Let’s see how to accomplish that." At its worst it's factually untrue at its best it's very very misleading. The distasteful part is that she never actually explains "how to accomplish that". As a reader I'm left wondering how she works this financial miracle and I am given the strong impression I'm supposed to buy her book to find out. That's why I thought it was a paid advertisement. I'm having trouble seeing the value in the post if it wasn't.

Why has my post calling out the facts of insurance/annuity seller commission and ongoing fees reducing return and the realiy of sponsoring entity bankruptcy risk been removed?

Rick -

It's not just you:

Wow. I like Free Money Finance, but was a little surprised by the excerpt chosen. While there is some good information on estate planning from the excerpt, I would not have chosen to include the excerpt relating to the market. I laughed out loud at the quote, "I have not lost a single client any money." Anyone whoever hears that comment should completely ignore anything that person has said. Their credibility is completely gone at that point.
Poor choice of an excerpt to include.

Just FYI, FMF: As a long-time reader and fan... It felt like an annuity sales pitch to me. Definitely not my cup of tea.

I'm a long time reader - and sadly dissappointed. We will have to look elsewhere for financial wisdom if we we are subject to long winded infomercials like this one.

Count me in on really not liking this post.

The first excerpt wasn't too bad ... but this one is definitely straining credibility and has (as others points out) quite a few points that bring everything else into question.
On the other hand, this is all from a book that claims to provide "the secrets" to "Safe Money and a Fabulous Future", so I guess this should be expected ;)

I'm with the others. This guy is giving a sales pitch, not financial advice.

Insurance/Annuity salesman. Just google Karlan Tucker.

Similar reaction here. At a minimum, it needs some editing. I kept scrolling and scrolling for a point.

I don't think there's a financial advisor alive that can keep a straight face and say that he or she never lost a single client any money.

I only manage our own money and that of my 3 adult children but I can truthfully say that since I retired and started managing everything myself on 12/28/1992 I haven't had a losing year and, as most of you already know have done very well indeed.

Hmmm - surprised to see this post - first, way too long for a blog post. Second, definitely a very biased approach to money management. Not everyone needs a trust. He doesn't tout other ways to to retirement, like living below your means, knowing what your lifestyle costs are and then ensuring your streams of income can cover those costs.

While I can understand you wish to show divergent points of view, I would follow this post up with a counterpoint. Frankly, your personal posts regarding your foray into rental real-estate are more enlightening, and even though I am not interested in doing that, I'm interested in your experiences.

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