That advice is from 2014, but it remains as true today as it ever has been, and so too it will remain. And yet free seminars abound, sucking in the unaware
sometimes plying them with complimentary food and drink, throwing a bunch of confusing facts and figures at them and then sinking their teeth into their hard-earned money to the tune of a percent or two per year.
I’m not one to pick a fight, but when good people are being taken advantage of, I’m also not one to sit around and let it happen. I had an experience recently that was a wake-up call for the importance of financial literacy.
We recently discussed all the ways mutual funds are a bad deal for investors. This time we’re addressing “free” financial seminars. Even if this doesn’t apply to you, you might find the story interesting and possibly relevant for someone you know.
High income earners are particularly juicy targets for obvious reasons. Being trained as a physician, I’m familiar with the marketing we’re exposed to, but I suspect many others are aggressively targeted too.