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I recently attended a seminar (advertised in local paper and held in hotel ballroom..) sponsored by an organization called the Senior Education Council from LA, CA.

The presenter, and president, Mark Diamond told a packed room of seniors that there was only one way to protect one's lifetime assets from the risk of nursing home costs or the expense resulting from catastrophic illness. He and his reps were willing to set up appointment with the attendees in order to explain this secret to them.

I had an appointment but wasn't able to keep it and since the rep left no name or number to call I was unable to let him know I couldn't be there. He has never called back. My question is: what is this big secret, what is the way to protect one's assets, is it a variable annuity?

Diamond really had people worked up during the seminar but I suspect that his motives were not as pure as he claimed. He told the seniors there that their lawyers, brokers and bankers didn't have a clue about the knowledge he was able to impart. Can anyone help shed more light on this subject?

Thanks, MJ

p.s. I have checked the yellow pages in LA and can find no such company, Senior Education Council, listed.
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jdarc writes,

I recently attended a seminar (advertised in local paper and held in hotel ballroom..) sponsored by an organization called the Senior Education Council from LA, CA.

The presenter, and president, Mark Diamond told a packed room of seniors that there was only one way to protect one's lifetime assets from the risk of nursing home costs or the expense resulting from catastrophic illness. He and his reps were willing to set up appointment with the attendees in order to explain this secret to them.


I think most Fools will agree that you're unlikely to find worthwhile financial advice in a hotel ballroom.

The best strategy is to enjoy the free food and if they have an open bar, so much the better. But refrain from buying into any of the products offered.

intercst
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jdarc wrote: ...I had an appointment but wasn't able to keep it and since the rep left no name or number to call I was unable to let him know I couldn't be there. He has never called back. My question is: what is this big secret, what is the way to protect one's assets, is it a variable annuity? ...p.s. I have checked the yellow pages in LA and can find no such company, Senior Education Council, listed. I fully agree with the previous post by intercst. Eat and Drink but don't buy or sign anything!!! Based upon my experience with these type of "counselers," ALL they can promise to do for you is charge you about 3% to "manage" your money! Fully educate yourself and do it for nothing! Good luck. Dick
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ALL they can promise to do for you is charge you about 3% to "manage" your money! Fully educate yourself and do it for nothing!

Thats good advice. I would like to add, however, that their promise to "manage" your money has their best interest in mind, not yours! By doing it yourself you can be sure that every investment is what you want.

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I recently attended a seminar (advertised in local paper and held in hotel
ballroom..) sponsored by an organization called the Senior Education Council
from LA, CA.

The presenter, and president, Mark Diamond told a packed room of seniors that
there was only one way to protect one's lifetime assets from the risk of nursing
home costs or the expense resulting from catastrophic illness. He and his reps
were willing to set up appointment with the attendees in order to explain this
secret to them.

I had an appointment but wasn't able to keep it and since the rep left no name or
number to call I was unable to let him know I couldn't be there. He has never
called back. My question is: what is this big secret, what is the way to protect
one's assets, is it a variable annuity?

Diamond really had people worked up during the seminar but I suspect that his
motives were not as pure as he claimed. He told the seniors there that their
lawyers, brokers and bankers didn't have a clue about the knowledge he was
able to impart. Can anyone help shed more light on this subject?


What kind of a business does not give your their address and phone number? I think you were lucky you missed the appointment.

There is no one person that knows a secret no one else knows in regards to taxes and estates.

I think insurance is the only way to protect your assets. Giving away your assets could get you in trouble - you may need them and there are laws to prevent asstes from being given away to avoid paying for long term care.
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It sounds like a scam to me.

You can protect yourself with long term care insurance. It's expensive but some financial advisors strongly recommend it. Depending on your assets, you may want to consider such insurance from a reputable insurance broker. My Mother had it but then didn't need it. But had she needed it I sure would have appreciated it.

Chuck O'Neil
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