No. of Recommendations: 4
Anyone ever check out these message boards (go to the main page and click Discussion)? It's a congregation of insurance salesmen purporting to be financial planners.

Here's the first post I clicked on tonight. The planner's victim -I mean client- is a 38 yo widow with a 6.75% mortgage and $500K of life insurance proceeds.

How should she invest the money? Annuities of course!:

http://www.financial-planning.com/phorum/read.php?f=4104&i=627&t=627

To be fair, a few of the posters had some reasonable ideas, one even mentioning ETFs. But then there are responses like :

two things, she knows the value of life insurance 1)she needs life insurance on herself for her kids

Really, is there any problem that life insurance products can't solve?

And the guys that do consider stocks have little clue how to invest in them- the solutions are always either growth funds (no value of course) or individual stocks.

Couldn't these guys just have become teachers or something and spared the world this sleazy, sales driven industry?

Nick
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