The Motley Fool Discussion Boards
Investing/Strategies / Retirement Investing
|Subject: Re: Brokers Fight For Right to Screw Customers||Date: 6/14/2014 5:34 PM|
|Author: inparadise||Number: 75212 of 76418|
Maybe I am imposing my dad's experience here, but this sounds more like an insurance broker than someone on wall street. And yes, I would like to have the salesman who took advantage of my dad drawn and quartered.
Dad would talk about "his friends," the 30 something year old and his wife that would go out to dinner with this charming elderly couple, with Mom post stroke well beyond the ability to conduct scintillating conversation. Dad himself was in his multi-month manic phase which occurred after a 10 hour operation. Like Opus late at night, there was no commercial that was not worth his picking up the phone and buying times six for all us kids, a house, a motor home, and a type of annuity that he finally abandoned without any rebate when the market went south and he was expected to put more money in. This for a guy in his late 70's, who had just had surgery for esophageal cancer? Sure, one needs to make a living, but lets not do so by taking advantage of incompetents.
Interestingly enough, the annuity was the only thing we could not get him out of when his mania finally crashed to depression and he allowed us to rescue him.
We are all so confident now that we will be different in old age, that we shall surely avoid those who prey on the elderly, but I am firmly convinced that for most of us we will become our own worst enemy as we age, and would love to know how I can protect myself from myself.
|Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|