_Who's Most Gullible Online And Why? Secrets From Scam World Revealed
THE RED TAPE CHRONICLES on MSNBC
After reading the article in the above link . I decided to post some facts and thoughts of my own -- Blue Knight - Dinar Alert
Scam Artists Have You In Their Sites Who is vulnerable? We all are!
We have all most likely have been subject to a scam at one time or another. I have seen some of your best intel gathers who are trying to set up investment opportunities for you and your money once you get it. Let me be clear.
Read More Link On Right
__I am not going to point out anyone as a culprit. I will just tell you that to be very care full when you hear the term ( GROUND FLOOR OPPORTUNITY ) . That is one of the hottest catch phrases use today .
Even when this type of opportunity is not a scam per say, the risks or usually very great. There are some great opportunities to be found for sure, but please do your homework .
Some of these culprits will go to any length to soften you up, even to using religion and prayers to gain your trust. Prayer for sure are in them selves in my opinion a must. but don’t be mislead by those who will take advantage of your faith in GOD.
This happens every day. The place to best hold your money will be different for each of us because we are all different and will lead different lives.
It is important to visit and talk to many different wealth advisors and compare them.
Do not be afraid to tell them upfront that you are seeking several advisors and that no one advisor will handle all of your business and that most likely each advisor that you will employ will be a watch dog on others by reviewing all of your placements or purchases.
If you invest in the markets it is important that all advisors know your investments because of break points in accounts such as mutual funds. Break points in family funds are a point at which some fees are reduced and or removed which will save you money . Don’t be in a huge hurry or be pressured with hype.
I have heard so much about what type of advisor to use. A banker who might be salaried, a fee based advisor who says he does not work on commissions, or an advisor who admits to being a commissioned licensed insurance agent.
The truth is that each of them are most likely insurance licensed in a lot of cases. Must be if they offer annuities or life related products .
Another truth is that there is a place for each of them. Approximately 75 % of all mutual fund placements are done by licensed insurance agents.
FYI, the rules are now so strict that unethical advisors are few and far between. The SEC, Finra, and the Insurance companies and brokers are very strict and demanding of them. I know because I am securities licensed myself.
Who makes the most money off of your investments. It depends. The goal is that you do. How ever we know that is not always the case.
A long term investment say 7 years could cost you from 1 To 2% charged on your total account of money invested every year as long as they hold your account. . So that could be very substantial .
As your investment grows so does the fee regardless. A commissioned based advisor or agent receives a one time commission as invested paid by the companies which does not come from the amount you invest!!!!
!00 % of your money goes into the account , not so in a fee based account !
In any case any of the cost associated with the companies fees for service are in addition to the cost of the investment and the internal fees such as the management fees in a mutual fund.
This does not cover everything to say the least. Don’t be fooled by the spouting of those who are not honest and straight forward and who go about bad mouthing other professionals in the business in order to gain your business.
You get paid when you work , and doing a good job is beneficial for you and your employer or client. Do not be reluctant to pay a good advisor for he should not have to work to help you and not get paid. You pay you doctor, attorney, plumber, mechanic, or at least some us do. A big HA HA on that one.
Most of us have worked very hard to make what little we have. We will work even harder to keep it. If you do not , you will not have it very long. Someone who wants it more will get it from you one way or another!
The Blue Knight