I took this very course a few months ago, out of curiosity. It was held over the course of two evenings at a local university, which I'm certain was intended to lend credibility to it. It was taught by a local financial planner, free of charge, and while there was no formal "sales pitch"at the course, there was an offer of a "free" consultation with the instructor. It was obvious, because she actually mentioned it several times, that her goal was to identify prospects for her services. After the course, there were several emails over the following few weeks, "encouraging" me to take advantage of the free 1-on-1 consultation with her. The presentation was well organized, and took into account the principles of fear, uncertainty, and doubt. FUD, as this approach is often referred. Fear of future tax increases. Uncertainty whether you are on the right course for your retirement. And casting doubt on your own ability to manage your investments. While not outright lies, I felt the data presented was cherry picked to serve their narrative, which would drive you to utilize the financial planning services of the presenter. When asked about data or approaches that might lead to different conclusions, it was politely and vaguely downplayed or dismissed. Based on comments and questions from the attendees, I'm confident there was enough of a take rate to justify the effort of the presenter. I think the target audience is middle and upper income earners who are nearing retirement, and are unsophisticated investors who don't fully understand and are uncomfortable with the nature of markets. Not DIY investors who are comfortable with their money management and investing abilities.
The main messages are this:
1) tax rates are going to go up significantly in the future to pay for existing commitments
2) you want to avoid paying taxes on your eventual social security benefits, at all costs.
3) to achieve number 2, you should try to get as much as possible now into Roth accounts, to avoid future tax increases
4) the stock market is scary
The main messages are this:
1) tax rates are going to go up significantly in the future to pay for existing commitments
2) you want to avoid paying taxes on your eventual social security benefits, at all costs.
3) to achieve number 2, you should try to get as much as possible now into Roth accounts, to avoid future tax increases
4) the stock market is scary
Statistics: Posted by Longdog — Fri May 03, 2024 7:16 am — Replies 12 — Views 1254