I'm going to a free seminar tomorrow, Taxes in Retirement.They say they won't be selling anything. We'll see about that!Don't know if there will be a questions and answers time, but if so, any questions I should ask?Lisain MA
. . . any questions I should ask?"Where's the nearest exit?"
I'm going to a free seminar tomorrowI bet I went to 15-20 of those before I retired. We used to call them 'Rubber Chicken Dinners'. My suggestion is to enjoy the meal and sock away the free information they give you.Regards,ImAGolfer (retired '03)
There's no such thing as a free lunch. Or dinner. Unless it's an organization whose business is providing advice and information for members (in which case you already paid for the event through your membership), they are going to try to sell you something. And the event will be full of people who are trained in pressure sales tactics, including strategically placed "guests" who will try to lead you down the golden path.FuskieWho would guess there's a 90% chance it's an insurance product that is being served along with the chicken...-----Ticker Guide: The Walt Disney Company (DIS), Intuit (INTU), Live Nation (LYV), CME Group (CME), MongoDB (MDB), Trip Advisor (TRIP), Vivendi SA (VIVHY), Mimecast (MIME), DHX Media (DHXM), Royce Micro Capital Trust (RMT)Disclaimer: This post is non-professional and should not be construed as direct, individual or accurate adviceDisclosure: May own shares of some, many or all of the companies mentioned in this post (tinyurl.com/FuskieDisclosure)Fool Code of Conduct: https://www.fool.com/legal/the-motley-fools-rules.aspx#Condu...Call to Action: If you like this or any other post, Rec it. Better yet, reply to it. Even better, start your own thread. This is YOUR TMF Community!
Tim Cook, CEO of Apple, put it pretty clearly -- If you can't figure out what the product is, you are the product.
They have a word for the people who go to those.Plate lickers.
I'm not sure this is a plate licker situation! If there is food, it will be a surprise since it was not mentioned. Also, it's 11-12:30, which would be an early lunch!!I'll let you know...Lisain MA
If they start it out with "This stock is a rare double down" just realize they are probably trying to sell you a subscription.Andy
If they start it out with "This stock is a rare double down" just realize they are probably trying to sell you a subscription.And might be from The Motley Fool marketing team...
They have a word for the people who go to those.Plate lickers. We get cards for those All.The.Time. I've been tempted to attend because it would help my retirement...the free meal means another $20 or something to put towards savings. :-)As it happens, I technically can't attend most of them. Oh well...-synchronicity, not terribly disappointed
If it's the "567" series it's intense with no sales pitch at all. It's pretty much for pre-retirement still working people. It focuses on using Roth IRA's (pre-retirement) to keep your taxes down in retirement when you have to take RMD's and don't want to have any of your Social Security taxed.They will offer a private, no cost, short review of your portfolio at a later date if interested.No food, just 2 hours of non stop info. I'm too far into retirement for their ideas.Try it. Was NOT an annuity workshop.
If it's the "567" series it's intense with no sales pitch at all. It's pretty much for pre-retirement still working people. It focuses on using Roth IRA's (pre-retirement) to keep your taxes down in retirement when you have to take RMD's and don't want to have any of your Social Security taxed.Thanks. That said, I'm...generally aware of how all that works.-synchronicity
More on 567:https://www.crainsdetroit.com/article/20180527/news/661906/s...Seems like a decent outfit.
<<If it's the "567" series it's intense with no sales pitch at all. It's pretty much for pre-retirement still working people. It focuses on using Roth IRA's (pre-retirement) to keep your taxes down in retirement when you have to take RMD's and don't want to have any of your Social Security taxed.They will offer a private, no cost, short review of your portfolio at a later date if interested.No food, just 2 hours of non stop info. I'm too far into retirement for their ideas.Try it. >>Yes, this is what it was! And I knew everything he was saying. Enjoyed a Pepsi.Have you done the no cost, short review? Lisain MA
<Have you done the no cost, short review?>No. If I was to roll over my IRA into a Roth I think the tax implications would get me big time.At my age even to space out roll overs would not be any advantage. I pay some income tax now but it's nothing to get upset about. The new personal exemptions stopped me from itemizing this past year. Nuts.
Come on!To put on a 'free zeminar' means someone is paying for the food. Someone is paying to rent the room. Someone is paying for the AV support. Someone is paying for the glossy printed materials handed out to attendees. Sooooo....who is paying for all of this? Whoever this may be, what do they expect in return for this payout? There are two possible explanations for the true motives of this group:1, They are charitably driven whose only mission is to enlighten their fellow humans at whatever cost to them. The likelihood is this group will expend their own personal savings to ensure the betterment of their fellow man. Or.....2. They fully expect to recoup these expenses in the form of enhanced product sales that exceed these costs plus an expected Rate of Return profit. Whether the commissioned product meets the household need is irrelevant. It's not the need, it's what can be sold.Which do you think applies to this 'Free' Seminar?BruceM
They probably need to catch just one or two fish to pay for the seminar. I will never know because I am not all that social and a free meal is not worth spending time with people trying to sell me something. A scrambled egg sandwich, salad and cold beer at home is pretty close to free and in weather like this I can have my nearly free meal out on our deck.
If I went to such a seminar I would eat the food and ask absolutely no questions. Just find out what they are selling and read up on it later.
If I went to such a seminar I would eat the food and ask absolutely no questions. Just find out what they are selling and read up on it later. We did that once. The seminar came with a free dinner and a free MP3 player. (This was several years ago before every phone played MP3s. Probably around 2008/2009.)The free food was a cold chicken-salad sandwich and a can of soda.The free MP3 player was a postcard that you mailed in to get the MP3 player sent to you. After 6 weeks the MP3 player came in the mail. A cheap plastic blob with 3 buttons (on/off, volume change, skip forward) and power & earphone jack. 128MB. No power cord, no earphone, not even the crap ones the airlines give you. We used them once and then threw them away.
How many of these free seminars with food can one attend and not take the sales bait before you stop getting invited to them?Just curious. We get postcard invites all the time, but have never gone.BB
The free food was a cold chicken-salad sandwich and a can of soda.You were not on the right list. We have done a bunch of those dinners, and I do manage to learn at least one thing each time. Back years ago in a similar time frame to you, we were having high-end plated dinners at some very fine places with prime rib and filet Mignon as dinner choices. There was even one that I recall where we went to a very nice local steakhouse and ordered off the menu. Granted that was just DH and me with 2 sales reps, but we didn’t buy anything. I am very good at saying no. We did a bunch of these back in the day because I wanted to learn a lot, and I did. We don’t tend to do them now because I am happy with our financial picture and don’t care to waste the time. The only time we do them now is it it is at a restaurant that I would like to try. But I have never had such a poor meal as what you describe. Perhaps I am just on a different list.
I was very unpopular at a free dinner seminar. They compared their insurance product that gave you XX% downside protection but all the stock index upside, and showed various scenarios--down market, up market, volatile market. In the up market, their product's value was the same as owning 100% stocks, but I asked why a fund or ETF that tracked the market wouldn't be better than their product thanks to dividends (~1.9% for SP500, 2.X% for Russel 2000 and 3% for EAFE) being retained by the fund but their product was based on the index only (no dividends). I think I won't get invited to their next one.
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