Episode 086:
Ignorance or Immorality, Does it Really Matter?
The Renovating Retirement podcast has now been live for almost nine months. Every week I review financial plans from people all over this great country. I’m speaking live in four cities, working with advisors in six cities and building a financial plan for people all over and one thing I can tell you is true….this industry is a mess!
No matter what city I’m in I see and hear the same things.
Included in this episode:
What do I see?
I see retirees or potential retirees who have a portfolio of stocks, bonds and mutual funds who believe that is a retirement plan.
- Money in two places: The Market (at risk) and/or The Bank (not earning any interest)
- The Evil Geniuses who run the marketing campaigns for the large Joker Broker firms have figured out how to take something quite simple: gambling your entire nest egg, and turning it into 40-80 pages of reports with beautiful pie charts all over the place.
I still see captive insurance agents offering only their low interest, low guaranteed income, high fee with bad products and purposefully hurting the American public because that’s their job. “Sell what their company has to offer”
I also still see that the American consumer does not want to do the work of getting educated but rather wants to rely on the old model that got us into this mess: they still want to trust someone blindly and not bother to hold them accountable for doing what’s best.
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Charlie, your host:
“Charlie Jewett is an Author, Speaker, Podcast Host, Consumer Advocate, and Investment Advisor from San Diego, Ca. Charlie has spent the last eleven years trying to change the way the industry professionals and consumers think about Retirement. Charlie provides education materials that help people to create their own financial plans and offers services to protect consumers from the bad guys in the Financial Services Industry.”
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