#CROOKED FINANCIAL PLANNER

[mommydearestella]

JUST CURIOUS.  DOES ANYONE KNOW OF ANY ANESTHESIOLOGIST OR NURSE ANESTESIOLOGIST THAT HAS SPENT AN INORDINATE AMOUNT OF TIME AROUND DENNIS FELCHER, ELLA FELCHER, ALLISON OLIVIERI OR TODD OLIVIERI?

IF YES, DO THEY SEEM TO HAVE ALOT MORE MONEY THAN WOULD BE REASONABLY EXPECTED?

IF YES, HAVE THEY ACQUIRED PROPERTY SOMETIME IN THE LAST 10 YEARS IN THE BAHAMAS, PALM BAY, MELBOURNE FLORIDA, PALM BEACH GARDENS OR JACKSONVILLE, PONTE VEDRA BEACH FLORIDA?

IF YES, DID THEY PAY FOR THE PROPERTY OR RECEIVE INCREDIBLE DEALS ON ALL OF THEM PAYING PENNIES ON THE DOLLAR?

IF YES, DO THEY HAPPEN TO HAVE A REAL ESTATE LICENSE OR INSURANCE LICENSE AS WELL?

THE PIECES OF GARBAGE INVOLVED IN THE TERRORISM CAMPAIGN DIRECTED AT ME HAVE STATED A FEW TIMES THAT THEY WORK CLOSELY WITH A FEW DENTISTS AND I SUSPECT ANESTHESIOLOGISTS AS WELL.

BASED ON EVERYTHING SAID BY ONE OR MORE OF THE ABUSERS DURING THE COURSE OF THIS CAMPAIGN OVER THE LAST SEVERAL YEARS I DO NOT KNOW BUT STRONGLY SUSPECT NOW THAT SOMETHING IS BEING DONE, ADDED TO TOOTHPASTE OR MOUTHWASH TO CAUSE A PERSONS TEETH TO BECOME LOOSER OR FALL OUT.  THIS HAS HAPPENED TO A FEW PEOPLE AND I KNOW THEY ARE DOING THIS SAME TERRORISM PLAN TO SEVERAL PEOPLE AT THIS TIME.  THEY HAVE SEVERAL STALKERS STALKING PEOPLE, BREAKING INTO HOUSES, SPYING ON THEM TO LEARN PASSWORDS, PASSCODES AND THAT WOULD ENABLE THEM TO GET INTO THEIR SUBJECTS RESIDENCE UNKNOWN TO THE OWNERS.  FURTHERMORE, I SUSPECT THAT GAS IS USED TO CAUSE ANY PERSON INSIDE TO EITHER FALL ASLEEP OR TO BE IN A DEEP ENOUGH STATE OF SLEEP THAT THE ABUSERS HAVE A REASONABLE EXPECTATION ANYONE INSIDE WILL NOT WAKE UP.  I DO NOT KNOW BUT AM WONDERING IF THEN THEY HAVE A DENTIST EXTRACT A TOOTH AND, IF POSSIBLE, REPLACE IT WITH A FAKE TOOTH THAT IS PROBABLY JUST QUICKLY AND EASILY INSERTED IN ITS PLACE AND THEN A DAY OR TWO LATER ALL OF A SUDDEN THE FAKE TOOTH  CRACKS, CRUMBLES AND FALLS OUT.  THIS HAPPENED TO ME ABOUT 8 MONTHS AGO AND I COULD SEE NO REASON FOR IT.  THE TOOTH JUST LITERALLY CRUMBLED AND FELL APART AND IN RETROSPECT DID LOOK A LITTLE DIFFERENT THAN I WOULD HAVE EXPECTED IT TO LOOK.  THERE IS/WAS NO REASON FOR THIS AND OTHER THAN THE LAST YEAR IT NEVER HAPPENED BEFORE.  I STRONGLY SUSPECT THAT THE ABUSERS IN ALL THEIR WISDOM WOULD RESPOND WITH SOMETHING STUPID LIKE WELL, IF THEY EVER DID THIS OR THAT THAT COULD BE THE REASON WHY.

I WONDERED ABOUT THIS BECAUSE BASED ON WHAT WAS SAID DURING THE HARASSMENT OVER THE PAST SEVERAL YEARS I STRONGLY SUSPECT THAT THE ABUSERS HAVE SOME SORT OF PLAN TO HAVE SOMEONE MADE UP TO LOOK LIKE THEIR SUBJECT AND TRY TO PASS THAT PERSON OFF AS THE REAL PERSON AND THEN HAVE THEM DO BANKING OR TRANSACT BUSINESS IN THEIR NAME.  I COULD ONLY SEE THIS HAPPENENING IF THE PERSON JUST PASSED AWAY OR IF THEY DIRECTED THEIR TERRORISM AT SUCH A PERSON IN AN AGGRESSIVE WAY TO RUN THEM DOWN, BEHIND AND HOPE TO DIRECT SOME SORT OF ECONOMIC ESPIONAGE AT THAT PERSON OR TRY TO TAKE DOWN A PERSONS BUSINESS OR, AND I KNOW NOTHING ABOUT TERRORISM, SOMEONE HAVING THE AUDACITY TO TRY TO HIDE A PERSONS DEATH, IF POSSIBLE, AND HAVE SOMEONE ELSE RUNNING AROUND PRETENDING TO BE THEM.  IT SEEMS LIKE A LONG SHOT TO ME BUT I WONDER IF ANYTHING LIKE THIS HAS EVER HAPPENED BEFORE?  IF THEY COULD GET SOME OF THEIR SUBJECTS TEETH INTACT AND IMPLANT THEM IN THE IMPOSTERS MOUTH WITH THE REST OF THE TEETH BEING VENEERS OR SOMETHING ELSE I WONDER IF THEY COULD HOPE TO GET AWAY WITH IT?

AGAIN, I DO NOT KNOW THIS I AM WONDERING ABOUT IT AND I THINK WITH GOOD REASON.

I WONDER HOW MANY DENTISTS PURCHASED PROPERTY DIRECTLY OR INDIRECTLY FROM ANY OF THE SUSPECTED ABUSERS OR HAD SWEETHEART DEALS HANDED TO THEM?  I WONDER IF ANY OF THE ABUSERS, AS I SUSPECT, DIRECTLY OR INDIRECTLY EVER PURCHASED ANY FORMER HOME OF MINE ESPECIALLY IN JACKSONVILLE FLORIDA POSSIBLY BUYING AND SELLING THE SAME PROPERTY A FEW TIMES AND SELLING WAY UNDER MARKET AS PAYMENT FOR SOMETHING ELSE?  I WONDER IF SO IF ANY OF THESE DENTISTS KNOW, SOCIALIZE OR ARE SEEN OFTEN WITH ANY OF THE ABUSERS AND/OR DO BUSINESS OF SOME KIND WITH ANY OF THEM?

I WONDER IF ANY MEDICAL PROFESSIONAL AROUND THEM INCLUDING DENTISTS, ANESHESIOLOGIST, NURSE ANESTHESIOLOGIST, NURSE, PHYSICIAN, CARDIOLOGIST, PAIN SPECIALIST, ANY PSYCHOLOGIST OR PSYCHIATRIST ESPECIALLY ANY SPECIALIZING IN PSYCHOLOGICAL TORTURE ARE OR HAVE OFTEN DONE BUSINESS WITH ANY OF THE ABUSERS DIRECTLY OR INDIRECTLY, HAVE ANY REAL ESTATE OR INSURANCE LICENSES, IF APPLICABLE, HELD AT ANY FIRMS WITH TIES TO THE ABUSERS DIRECTLY OR INDIRECTLY OR EVEN IN THE SAME OFFICE BUILDING OR ONE DIRECTLY OR INDIRECTLY OWNED BY ANY OF THE BUSERS DIRECTLY OR INDIRECTLY.

I WONDER IF ANY OF THEM HAVE PURCHASED VERY EXPENSIVE CARS FOR RIDICULOUSLY LOW PRICES OR STUMBLED ACROSS A SITUATION MENTIONED SEVERAL TIMES DURING THE TERRORISM CAMPAIGN DIRECTED AT ME OVER THE LAST SEVERAL YEARS WHEREBY A NEW CAR WAS SUPPOSEDLY PURCHASED BY SOMEONE AND THEN IMMEDIATELY RETURNED FOR WHATEVER REASON THUS MAKING IT THEN A USED CAR.  IF SO, THE CAR WAS THEN SOLD FOR SEVERAL THOUSAND DOLLARS LESS THEN IT SHOULD HAVE BEEN AND IN SOME CASES 20, 30, 40k LESS.  IF SO WHO OWNS THE DEALERSHIP DIRECTLY OR INDIRECTLY, MEMBER OF, TIES TO IN ANY WAY, A SUBSIDIARY, PARENT OR HOLDING COMPANY OR HAS SOME SORT OF AGREEMENT TO DO ANYTHING, PROVIDE ANY SERVICE FOR, ETC. THAT WOUKLD PUT THEM IN A POSITION TO PULL OFF SOMETHING LIKE THAT?

[xxgoblin-dumplingxx]

If you’re comfy - can we see Bruce at a wedding? Preferably his own wedding with reader, but not sure if you want to do that lol. I have dreams about having a first dance with Bruce 🥰

"Are you here for the bride or the groom," Bruce rumbled, bending so his lips were close to your ear.

"I'm here for my boss," you hum, scanning the room, mentally noting the location of people Bruce had wanted to speak to.

"Well that's no fun-"

"Mr. Wayne, please."

Bruce winced and stood up straight. Realizing that you didn't want to play with him. Not like this. Not right now. You sound tense. Tense and desperately unhappy. "What's wrong?" he asked, moving to stand next to you instead of behind you, tucking your hand into the crook of his arm- unusual, he supposed but. Less intimate seeming.

"Nothing, Sir-"

"Hmm," Bruce grunted. Still keeping his face neutral and pleasant but he felt his eyes narrow slightly. Looking for the source of the tension. He knew better than anyone how rude and sometimes downright cruel this layer of society could be. Pretty polite smiles hiding acid tongue and one hand offering a handshake while the other holds a knife.

"Three of your four targets just went into the lounge for-"

"You'll be alright?" he asked, looking down at you.

"Always," you answer, giving him a smile that didn't reach your eyes, "There must be someone charming to talk to here."

"Hm." He patted your hand and gently lifted your hand from his elbow. "Call if you need anything. I'll be-"

"I'll be alright," you tell him, accepting the glass of champagne he snagged off a tray for you. And made his way to the lounge that you indicated.

"Bruce!" A man he'd went to school with- did something in the financial sector wrenched his hand into a handshake and slapped him on the back, "Just the man I wanted to talk to."

"Why's that Tony," he asked, smiling, "Need a-"

"I gotta know what agency you get your girls from," he said, "God the one you brought today is gorgeous-"

"She's my assistant," Bruce said, smile faltering. Eyes going cold. "She's a professional-"

"I bet she is," he said, giving Bruce a smug 'knowing' look.

"She came highly recommended, well educated, and she's a great asset-"

"Sure Bruce," Tony scoffed, "Do you have to pay her extra or is fucking you-"

"Tony!" Another man said from the pool table, "C'mon, man. Leave the poor girl alone. Just because she told you she was working and didn't wanna go to your room-"

Bruce felt his eyes narrow, "You what?"

The other man, another person Bruce remembered from school- someone who'd been kind if not especially popular, stepped between them quickly, "Let's go get a drink," he said smoothly, glancing meaningfully towards where you stood having a perfectly polite chat with someone else's PA. Telling Bruce that beating someone to death for implying you were a sex worker wouldn't do much to change that opinion.

"Excellent," Bruce said, letting himself be lead away.

"You gotta start hiring ugly girls, Bruce," Gerald muttered, "Or find a guy that can do it-"

"The men can't take the pressure," Bruce chuckled. "And it's not Y/N's fault she's a pretty girl who has the skill set I need."

"Careful, B," Gerald said teasing, "I probably can't afford to let her get her nails done on company time when I act like an ass but- I might be tempted to poach her if-"

"Not a Chance," Bruce said grinning, "I hate breaking in assistants almost as much as I hate weddings."

And Gerald raised his glass in agreement before taking a drink, "You mind if I give my PA her number? He's green- having a little trouble making contacts."

"Go ahead," Bruce said nodding, "There's a little 'club' of them that meets on Wednesday afternoons for sushi and a couple drinks. Y/n said they commiserate and trade notes about everything from lawyers to party planners."

"Perfect," Gerald said, nodding to the guy, younger than you who seems to be trying to figure out how to approach you.

"Let's go introduce them before Miss Rory decides he's being creepy," Bruce said, smiling a little. You might give him a tongue-lashing and a lecture, but Rory would reduce him to tears.

[dental-design]

M20 Dental – Exceptional Dental Care in Manchester

Comfort and wellbeing are at the heart of everything this dentist in Didsbury does. They take the time and make the effort to get to know their patients. This means the team of highly qualified dental professionals can offer the best possible care to meet your individual needs. The practice offers the latest dental treatments in a welcoming atmosphere.

Dental Treatments

The Manchester dentist is with you every step of the way with your dental treatment. At M20 dental, the consultation is free of charge. At this initial consultation you will meet your treatment planner. She will assist you and make sure you are comfortable and happy. The consultation room is a relaxed and non-clinical environment. This is particularly good for nervous patients. The dentist will discuss and discover your needs and goals. They want you to feel calm and will offer a tea or coffee and chat, so the experience is both laid back yet educational.

What will be included in my consultation?

Address any concerns or desires

Schedule appointment times to suit you

Discuss suitable treatment options

Look at before & after cases and testimonials so you know you’re in safe hands

Look at financial options to suit you

Take a printed treatment plan home with you

Smile Makeovers

M20 Dental in Didsbury  offers a whole array of dental treatment under one roof. So, whether you are looking for a simple dental check-up or a complete smile makeover you can find it all under one roof. If you have any issues with your teeth, such as cracks, crooked or dull-looking teeth, a combination of treatments could be applied. This results in a complete smile makeover.

Smile makeovers are becoming increasingly popular at our practice and people are realising they can replicate the celebrity smiles they are seeing in the media. During an initial consultation, the dentist will thoroughly examine your teeth and discover exactly what improvements you’d like to make. If your mouth is fit & healthy, cosmetic dental work can start straight away. Sometimes, there may be some oral health issues to resolve first, such as some tooth decay or gum disease. However, this is no problem, we can correct these issues first and then start treatment.

Treatments may include any of the following: -

Teeth whitening – this can be a real game changer when it comes to changing your smile. It’s a safe yet highly effective treatment.

Veneers – these are aminimally-invasive method to disguise crooked, missing teeth, providing great results. Veneers are stuck to the front layer of the tooth and can cover various issues.

White fillings – often preferred to the amalgam fillings as these are more aesthetically pleasing. They can repair teeth and are used for dental caries.

Crowns – used to both strengthen and repair teeth, crowns are used to help with various issues, particularly to help with decay and to fill cavities.

Bridges – these can be custom-made to fill any gaps in the teeth. They are fitted to the adjacent teeth to the gap to securely hold the replacement tooth in place.

Implants – often cited as the next best thing to your natural teeth, dental implants are used as a long-lasting solution to missing teeth. Patients feel confident to both smile again and can often improve their diets by being able to eat a wider selection of foods without worry.

Dentures – these are used to fill in a few gaps or the entire teeth. They are a removable solution, which leaves the teeth looking more uniformed and can bring patients more confidence to smile.

Adult Orthodontics – are ever popular, especially among adults who have decided to start their teeth straightening journey later in life. Discreet braces and virtually invisible aligners, such as Invisalign, offer a pleasing way to fix crooked, overcrowded and gappy teeth.

If you are looking for an exceptional dentist in the Manchester area and would like either a dental check up or a complete smile makeover, M20 can offer you it all. Please contact the friendly team on 0161 445 3344 and speak with our friendly team.

M20 Dental – dentist Manchester

152 Burton Road

Didsbury

Manchester

M20 1LH

Tel: 0161 445 3344

Email: info@m20dental.co.uk

Web: https://m20dental.co.uk/

[bennyboyjones]

THE GETAWAY (Ben Hardy FanFic) Prologue

A/N: Hi! So, here is the prologue to my Ben Hardy  AU Fanfic! There are currently several chapters written, which you can find on Wattpad if you click on the link below, but I’ve decided to also upload it here as well. It might be a bit behind, but you’ll still get all the chaps eventually. 

What it is: basically, a girl from a small town who is bored of her life decides to take a trip to Nice where she runs into ben, who is also running away from some shit and some romance ensues. 

Word count: 1.6k

In this chapter: just some background to get us started. You probably don’t have to read this to understand what comes after, but it will help you understand the main character better. 

WATTPAD LINK IF YOU WANT TO READ AHEAD

Here we go:

prologue

I brushed my thumb over the twenty year old bonds clutched between my fingers. My eyes swept over the bank tellers, my weight switching back and forth from my right to my left foot. These people were taking forever; I figured it would be slow since it was a Monday morning, but apparently this was when all of the housewives did their banking. I had been next in line for the past fifteen minutes and as time went on, my nerve was steadily draining out of me. 

Last night, after a bottle of wine, I sat on the floor of my bedroom and reached under my bed for the manilla folder that held the contents of what I would consider the best six months of my life.  The folder was worn, soft, had both coffee and wine stains, and looked way too aged for something that had only come into existence a year ago. I placed my glass next to me, on the equally stained gray carpet, and pulled out endless postcards, bookmarks, pamphlets, plane tickets, museum and park and exhibit passes, and polaroids. I sifted through them, running fingers over my best friends’ smiling faces, rereading postcards to my family I had already memorized, focusing on guides to museums in Copenhagen, Paris, and London as if studying them could magically teleport me back. Instead, I was stuck here, in Rye, a small town that I was so, so bored of. 

I had lived here my entire life, and so had my parents. We went to the same elementary school and high school, we lived a thirty-second drive and a five minute walk from where my dad grew up. Everyone I had gone to school with had parents who graduated with or around the same time as mine. I felt so suffocated by sameness, by the ordinariness, and was terrified of repeating the pattern of monotony. 

When it was time to go to college, I was sure I would end up in New York City—somewhere not too far, but far enough, different enough from everything I wanted to get away from. When I was in high school, I decided that I was made to live there. For nine months out of the year, I’m a New Yorker—but during the summer I’m always back in Rye because apparently it’s financially irresponsible to take out loans to dorm over the summer and I can’t afford an apartment on a waitress’s salary, nor do I have the time to take up a second job and go to school full time, so Rye it is.

I only ever missed New York seasonally, but I missed London all the time. 

I missed living in London. I missed walking the three blocks from Queen Mary to the Co-Op to grab mushrooms, flapjacks, and a bottle of wine. I missed sitting on the Central Line at 11:30pm drunk, with Sarah and Annie on our way to our favorite club near Tottenham Court Road. I missed walking to Rinkoff’s hungover and grabbing a cronut. I missed Brick Lane on Sunday mornings. I missed a past life. 

For the past year, I’ve been saving up to get it back. When I came home last June, I worked a waitressing job at a small restaurant on our main street, as many doubles as I could—six days a week—and I refused to spend a single dime of it. I worked part time the past two semesters and saved as much as I could, but metro cards were expensive and a girl needed to eat, and also have a social life, and instead of “throwing away” my left over aid money on spring break vacations like my friends did, I hoarded that $1,231 and pretended I wasn’t bothered by the Miami Beach pictures even though I knew I was missing out. 

London was expensive, that much was clear; the only way I survived six months on $6,000 was because my financial aid paid for my housing and tuition, traveling around Europe while living in Europe is cheap, and my mom was sending me $100 a week for groceries because she was worried that all the jokes I made about not eating so I could afford to party (or financial drinking, as it’s been called) were serious (they were, and often the money that was supposed to be meant for groceries went to more fucking around—you only go abroad like that once in your entire life and I was so not going to waste it). And still, despite the weekly allowance from my mom, I still came home with $82 left in my bank account. Towards the end of the six months I was barely hanging on financially. Basically, what I’m saying is that I knew going back was going to cost me a lot of money, especially since I knew I wouldn’t have the same kind of help that I had the last time around. 

So, I saved and refused to do the math to figure out how much I would need to go back to London for at least two weeks. Well, last night, I did the math—and, oh boy, I am not going back to London until I have at least a few thousand more dollars to my name. That crushing disappointment is what led me to that manilla folder. 

The past few months, going back to Europe was all I could think about; I was graduating in December and this was my last summer to really do whatever I wanted before I had to be a real adult. Granted, I was planning on going straight into grad school, but the statement still stands. 

I took another sip of the cheap-ass red I regretted buying before grabbing my photos from Nice. I slowly went through them, and my eyes misted at the landscapes, the crooked self portraits taken on both disposables and my barely functioning digital, the photos of food, and coffees perfectly placed next to pages of my open journal. 

It was the one place that I had gone alone, in the middle of January, for only three days. It was a trip I took out of convenience (student visa issues) and I had only chosen Nice because it was both relatively cheap and small, but it ended up being my favorite place. The place I named first when people asked where I went, the place I talked about the most, and the place that meant the most to me. 

I put the photos down and opened my laptop. I opened a tab for SkyScanner, one for AirBnb, and one for TripAdvisor and started doing the math.

Flight: $1,214 (round trip)

AirBnb: $2,056

Other Expenses: $3,000

Approx. Total: $6,270

I knew how much I had in my savings and knew I had bonds somewhere from my baptism or some other religious sacrament I was forced to endure that I could cash for some extra money. I had enough for three weeks, but didn’t have much of a financial cushion should I need it. 

I downed what was left in my glass and booked my trip. I felt my hands shaking as I took them off my keyboard to rest them on my cheeks. My face was flush from both the wine and the excitement. I wiped my feet against the carpet, the nervous sweat on their bottoms making me uncomfortable. I was never one for impulsivity; I was a planner, a control freak, a perfectionist—a full blown virgo for fuck’s sake and the longer I sat there, staring at the confirmation page before me, the more nauseous I felt. I refused to let the regret set in, the doubt, and the fear. Instead, I stood up, hopped down the stairs with my empty glass in hand, and upon refilling, announced to my mom that in three weeks time, I would be on a plane to France. 

Earlier this morning, she rifled through the safe in the back of her closet in search of the bonds. When I told her about what I had done, she didn’t have much of a reply—she simply raised her glass to me and muttered a soft, “Jesus Christ”. I knew she was slightly concerned, but also excited for me and I really couldn’t have asked for a better reaction. She was a supportive mom, always, no matter how questionable her children’s choices were (and mine and my brothers’ choices were always questionable). 

Once she found them shoved into an envelope from the ‘90s, I got in the car with my younger brother and went to the bank. 

“You need to chill out. You’re going to make everyone in there nervous if you go in there all shaky and sweaty. You’re making yourself look like a criminal,” Noah said as he put his crappy car in park. 

“I’m just nervous. I know this is a stupid idea, isn’t it? I should just keep saving and go back in, like, another year when I really have the money, don’t you think?”

He rolled his eyes, “No. I think you need to do this now. It’s all you ever fucking talk about, and honestly, visiting you last year was the best thing I’ve ever done and it was the happiest I saw you. Just stop being a dumb bitch and go in there and get your money.”

Ignoring the “bitch” comment, I pushed the car door open with a loud creaking and clutched the bonds so tight they folded in my hands. 

When it was finally (finally!) my turn to be helped, I stepped up and handed the bonds over, crumpled and slightly damp with sweat, “I’d like to cash these, please.”

[paolos83blog]

We watched the Vince Vaughn movie about life insurance, and we found some issues

“Term Life,” a 2016 action drama, stars Vince Vaughn as con man Nick Barrow and Hailee Steinfeld as his estranged 16-year-old daughter, Cate. When a robbery he planned goes sideways, Nick finds himself pursued by a drug cartel leader and a crooked detective (played by Jordi Mollà and Bill Paxton, respectively). So he goes looking for the best protection he can get: a life insurance policy.

The fast-paced 90-minute movie is a heartwarming story about a father and daughter reuniting under the threat of gunfire. More importantly (to us), it’s about getting life insurance. Here’s where Nick went right — and wrong — in getting a policy to support Cate.

Right: Using life insurance to protect your family

“Look, I’m the one that provides for Cate,” Nick says, once he realizes he’s in danger. “If anything was to happen to me, worst-case scenario, I’ve got to make sure that she’s taken care of.”

The line is a word-perfect explanation of why you need to have life insurance if someone depends on your income: Your insurer pays a death benefit when you die and your beneficiary can use that money to support themselves. For Cate, it could cover necessities like rent and long-term goals like college tuition.

Wrong: Naming a minor as a beneficiary — twice

We later see that Viktor Vasquez, the deadly cartel leader, has gotten ahold of Nick’s insurance application (let’s hope a digital copy exists). A look at the paperwork reveals that Nick has listed Cate as the policy’s primary and contingent beneficiary — two mistakes in one.

Because she’s a minor, the insurance company won’t pay out to Cate. If Nick dies before she turns 18, the money will get tied up in court for months or even years. And if Cate dies, then Nick’s money goes nowhere. Life insurance only pays out to the people listed on the policy. A contingent beneficiary should be a different person who can accept the payout if the primary beneficiary isn’t able to.

With Cate’s mom in treatment for alcohol addiction, it may not be the right time to name her as a beneficiary. Nick’s best option is to direct the insurance payout to a trust and name another adult he can count on — like his best friend, Harper (played by Jonathan Banks) — as trustee of the funds.

Right: Expecting to pay more as a smoker

The life insurance agent who sells Nick his policy (played by Taraji P. Henson) asks him a handful of — surprisingly true-to-life — questions:

Do you have any felony convictions from less than three years ago?

Do you skydive?

Are you a pilot?

Do you drink or smoke?

A yes to any of these will raise your life insurance rates, and in the case of a recent felony, the insurance company will deny your application altogether. Nick only says yes to smoking and drinking, and hands over a check he has ready to cover any “overages” that would incur.

He’s right in assuming he’ll need to pay more. But, he still needs to go through a medical exam to get accurate rates. In reality, the check he hands over is probably for too much or too little money, and underpaying would keep his policy from being approved.

Wrong: Pre-paying taxes on a life insurance payout

When paying all of his premiums upfront (another thing you can’t do with a term life insurance policy), Nick tries to pre-pay any taxes on the death benefit. In real life, life insurance money is tax-free as long as it’s paid out all at once.

“Aside from the fact that the application was stolen, Nick would have needed to sign the policy once approved,” says Elia Weg, certified financial planner and Policygenius Sales Associate. “Handing his agent a check for all the premiums ahead of time is pointless.”

But the biggest detail the film’s researchers missed? “If Nick had a substantial amount of money to pay the premiums and do so in advance,” says Weg, “a permanent life insurance policy would have made the most sense, likely changing the name of the movie.”

Spoiler alert: Nick and Cate ultimately make it through multiple tense stand-offs unscathed, but the moral of “Term Life” is clear: If you support someone financially, you should get a life insurance policy ASAP — especially if your job involves working with people who might threaten to kill you.

Credits: Amanda Shih

Source: https://www.policygenius.com/life-insurance/news/what-term-life-gets-right-and-wrong-about-life-insurance/

Date: September 24, 2021

[correctsuccess]

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[service2client]

New Post has been published on ICFiles

New Post has been published on https://www.icfiles.net/7-ways-to-avoid-investment-fraud/

7 Ways to Avoid Investment Fraud

These days, you can’t be too careful when it comes to investments. And if you’re older, you’re a prime target for fraudsters. That said, anyone of any age is vulnerable. Here are a few key things to keep in mind when you’re considering investing.      

Ask Lots of Questions

Of course, you’re going to ask questions, but make sure you ask the right ones. Is the product registered with the SEC or state securities agencies? What are the fees? How does the company make money? What things might affect the value of the investment? Are my investment goals aligned with the investment? How liquid is this investment? For more ideas about what questions to ask, check out this comprehensive resource from the U.S. Securities and Exchange Commission.

Do Your Research

And we don’t mean simply Googling them. If you’re thinking about investing in a publicly-traded company, go immediately to the SEC’s EDGAR database. You can look up the prospective company to see if it’s legitimate.

Beware of Unbelievable Returns

If something sounds too good to be true, chances are it is. If you hear that the investment will make “incredible gains,” is a “breakout stock pick” or has a “huge upside and almost no risk,” these are big red flags of fraud. Further, if the salesperson promises a guaranteed return, you know this isn’t true; every equity investment has a modicum of risk.

Resist ‘Act Now’ Offers

If someone tells you that this investment is a once-in-a-lifetime offer and it will be gone tomorrow, walk away. Another scam tactic is one that claims “everyone is investing in X stock, and so should you.” As irresistible as this might sound, don’t succumb to the pressure. It’s a trick.

Avoid Reciprocity

One of the most common lures that tricksters use are free seminars that include lunch. They play on your guilt and figure that if they do something for you, you’ll return the favor and invest. It’s never a good idea to invest on the spot. Take the materials home and do your research. With that said, not every free seminar is bogus. Just follow through with your due diligence and protect yourself.

Know Your Salesperson

We’re not talking “know,” as in you follow them on social media or you have a number of mutual friends and they come highly recommended. But even if you’re connected with them through a seemingly respected company and you “feel” like they’re trustworthy, don’t trust blindly. Check them out at BrokerCheck, an online database maintained by the Financial Industry Regulatory Authority (FINRA). This is a nongovernmental group that watches over securities firms and dealers. Remember: credibility can be faked. Don’t be duped.

Stay Away from Robocalls, Emails and Late Night TV ads

Let’s be honest, legitimate companies don’t reach people this way. However, swindlers can be very persuasive. But stand your ground. Don’t budge. When it comes to seniors, crooks view them as “more trusting” and less likely to say no. The truth is that older people are more often targeted because the supposition is that they have more assets to tap into – aka steal. Don’t let these buggers woo you. Hang up, hit delete or change the TV channel.

If you’ve taken every precaution and you still feel like you need help before you make an investment decision, consult your accountant or financial planner. When it comes to your hard-earned money, it’s worth all the time in the world.

Sources

https://www.investor.gov/protect-your-investments/fraud/how-avoid-fraud/what-you-can-do-avoid-investment-fraud

[suniltams]

New York law now protects veterans against ‘pension poaching’ financial scams

New York law now protects veterans against ‘pension poaching’ financial scams

ALBANY — Veterans in the Empire State are getting some extra protections against potential scammers known as “pension poachers.”

Gov. Cuomo signed a new law on Friday that makes it harder for crooked financial planners or insurance agents to swindle elderly or disabled veterans.

The measure, dubbed the Pension Poaching Prevention Act, will help stop scammers who profit by selling…

[kennethherrerablog]

Here’s Where This Financial Planner Keeps Her Money (Hint: Not Big Banks)

After becoming a financial planner last year, Denisa Petricko took a closer look at her own finances.

A lump of her money sat quietly at Wells Fargo.

With a more informed eye, the 40-year-old resident, whose primary gig is as a real estate agent, started investigating what the bank did with her money.

“After looking at the breakdowns of how my money was being handled by a larger bank, I realized that I had large sums just sitting in an account accumulating interest — but not for me,” she says in an email. “It was for the banks themselves.”

Petricko met with her bank’s financial consultants to see if there was anything out there that’d help her out — earn her some interest.

The meetings led nowhere.

Then, in the summer of 2017, as she clicked through Elephant Journal, an online yoga-centric magazine (she’s also a certified yoga instructor — holy side gigs!), she stumbled upon an article about the Aspiration Account.

When she read the online checking account would collect up to 1% in interest — for her to keep — she was sold.

Why This Financial Planner Banks With Aspiration

Although the initial sell for Petricko was the interest rate, she’s come to love many other parts of Aspiration and her account, including:

As we mentioned in a previous Aspiration review, Aspiration is a do-good company, focusing on what’s best for not only you, but also the planet. You can even track the impact of your spending based on the retailers you frequent.

It allows you to choose what you pay each month — even if that’s $0. Additionally, there are no sneaky fees. There’s no minimum balance and no minimum monthly deposit. Plus, you can open an account with just $10.

You can travel (which Petricko does frequently for both business and pleasure) without facing insane ATM fees. In fact, ATM fees across the world are 100% refundable. Aspiration automatically reimburses you each month.

Aspiration has an easy-to-use app and website, making it accessible everywhere there’s cell phone or internet service.

It also offers investment options, including its Redwood Fund and Flagship IRA accounts — all of which Petricko has in one convenient spot.

It’s been more than a year since this financial planner trusted Aspiration with her money, and she says she has no regrets; she’s yet to have a negative experience.

In fact, Petricko would go as far as to call Aspiration’s online-only model “banking of the future.”

“The big banks are proving to be crooked,” she says. “…Aspiration gave me new hope in banking.”

With her old bank, she was lucky to earn 8 cents a month on a $10,000 balance. That’s because, Petricko explains, the bank was earning interest interest for themselves — from her money.

Now, Aspiration’s high-yield account slides $5 to $10 into her account each month, thanks to those interest rates.

Petricko wholeheartedly recommends Aspiration to her clients, her friends and her family.

If you’re interested in learning more about the online-only bank account, head over to Aspiration.

We may receive compensation from Aspiration for promoting the company, but we weren’t paid for this specific review. All reporting is our own.

Carson Kohler (carson@thepennyhoarder.com) is a staff writer at The Penny Hoarder. She too banks with Aspiration and broke down why she loves it (as well as a few downsides).

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.

The Penny Hoarder Promise: We provide accurate, reliable information. Here’s why you can trust us and how we make money.

Here’s Where This Financial Planner Keeps Her Money (Hint: Not Big Banks) published first on https://justinbetreviews.tumblr.com/

[mikemortgage]

Stock market experts say this is a stumble, not a plunge

Woah, what was that?

After months of relative calm, Wall Street has been jolted by a sudden run of turbulent trading.

The swoon wiped more than 1,300 points from the Dow Jones Industrial Average over two days and dragged the benchmark S&P 500 index down more than 5 per cent. The VIX index, which measures how worried traders are about a decline in stocks, climbed Thursday to its highest level since February, when the S&P last had a correction, or a 10 per cent drop.

What now?

Experts say this new eruption of market volatility should not be surprising, especially after the long stretch of relative calm investors have enjoyed.

Over the summer, traders set aside worries about the escalating U.S.-China trade dispute and instead focused on more encouraging developments: solid economic growth and record corporate earnings. It helped that stocks were on the rise — the S&P 500 hit an all-time high just four weeks ago.

So after several months of gains, a pullback would be expected, said John Lynch, chief investment strategist at LPL Research.

“Volatility is back and it may require more active strategies on the part of investors to pursue their long-term goals,” Lynch said. “Volatility is also not to be feared, but embraced, as varying data points will cause bouts of market anxiety. But remember that fundamentals are still strong.”

The economy is indeed quite strong by many measures — consumer spending is growing, unemployment is low and manufacturing surveys are near record levels. And many experts say that is more important than the market’s daily ups and downs.

So what’s behind this week’s upset?

Investors have grown concerned about a recent, steep drop in U.S. government bond prices and an ensuing upward move in bond yields, which makes bonds more attractive relative to stocks. The market is also worried about rising interest rates, which tend to climb on expectations of future economic growth and inflation and can increase costs for business — slowing growth and dampening corporate profits.

“There’s some concern that third-quarter earnings could be maybe a little bit less robust than they were in the second quarter and there could be more pressure on profit margins,” said Willie Delwiche, investment strategist at Baird.

Worries about a slowdown in the global economy and the escalating U.S.-China trade dispute also have contributed to investors’ unease. And markets typically see increased volatility in months preceding midterm elections.

“We are not surprised by the uptick in volatility toward more normal levels,” market strategists at Wells Fargo Investment Institute wrote in a report Thursday, adding that “it’s too soon to say that the pullback is over.”

Having bonds and equities selling off may feel like the worst of both worlds for investment portfolios, but the market’s shift isn’t as bad as it might seem, said Michael Crook, head of institutional strategy at UBS Global Wealth Management.

He notes that the S&P 500 is basically back to where it was during the summer, and only down slightly from its all-time high. In addition, the negative return in bonds barely registers when one considers how bonds have performed this year.

“That’s very normal volatility, and while it has been acute — like all market drops — it only erases a few weeks of gains,” Crook said.

The market’s stability in 2017 may have given investors a false sense of security too, said Nationwide Chief of Investment Research Mark Hackett. The fundamental strength of that year resulted in historically low volatility and market pullbacks.

One natural reaction to increased volatility is the inclination to get off the wild ride and sell. If you have a lengthy time horizon for the investment, say a decade, the general recommendation is to resist that temptation. Stocks have historically offered some of the biggest returns over the long term for investors.

For investors who want less volatility, bonds, savings accounts or other investments offer less risk. The trade-off is that returns over the coming decade will likely be lower.

Remember that what is happening in the headlines is not necessarily what is happening in your portfolio, said Judith Ward, a senior financial planner at T. Rowe Price.

Still feeling jumpy? Review your portfolio and make sure your holdings are where you want them to be and that they’re on course to meet your goals. Rebalance the portfolio, if needed, but resist the urge to flee.

Any financial adviser will remind you that those who sold in the depths of the global financial meltdown missed out on big gains in years that followed.

from Financial Post https://ift.tt/2A6c8sp via IFTTT Blogger Mortgage Tumblr Mortgage Evernote Mortgage Wordpress Mortgage href="https://www.diigo.com/user/gelsi11">Diigo Mortgage

[caunion]

Amazing Selling Machine Features

What You Do not Learn About Amazing Selling Machine The truth of the matter is that basically 46 percent of existing Internet businesses avert international orders simply due to the fact that they do not have procedures in place to load them. E-commerce Company provides you with the most reliable tools to obtain constructing online service. Figure out clear actions of selecting the best firm. Elearning Online gives a full food selection of solutions to aid you in developing a successful training program. For even more, visit our Elearning Training Solution website currently. Inning Accordance With Devangshu Dutta, Chief Executive at Third Vision working as a consultant, Walmart has a good sense of item growth, sourcing and supply chain. Flipkart is big in commodities items like books, mobile, fashion etc. and also they run well separately. Yet a feeling of item management does not permeate Flipkart as they remain just a market. They are discount-driven," he says. Now this is a fairly ordinary yet expensive and also required product such as your business phone and button equipment. Include a competitive market with several vendors and also traditional purchasers in the UK. As well as a lot of the time when you attempt to figure the Multi level marketing occupation by purchasing a program, you quickly recognize that you have to buy also one more training course to put the whole problem with each other. Network marketing could tackle various types, although the standard idea is still that of a product as well as hiring plan. One of the most typical method is to utilize e-mail to the people in your email list. You can market to those people you recognize and also add a personal touch to your promotion, and also they'll be more likely to trust you on exactly what you state basing upon your personality. Obtaining MCITP 70-680 accreditations are ending up being a substantial job in the field of I.T. More over these exams like MCITP examination are now continually accepting this difficulty and updating is itself a job. This Microsoft MCITP torrent is an important part of Microsoft Qualified IT Specialist qualifications and also at Microsoft MCITP (Microsoft Licensed IT Professional) tutorial; we have the resources to prepare you for this. Once you remove the test you will certainly be able to address the real time troubles yourself, the 70-680 exam is core as well as vital component of 70-680 qualifications as well as. To make use of the Real Microsoft MCITP (Microsoft Qualified IT Specialist) Value Conserve as well as load money and time while creating your skills to pass your 'Microsoft MCITP (Microsoft Licensed IT Professional) Exam'? Let Ucertify help you climb that ladder of success as well as pass your Microsoft 70-680 (TS: Windows 7, Configuring) now. A well-branded company web site brings advertising and marketing stamina to your company. The more consumers get behind the curtain looks of your company as well as find out about tales that make you that you are, the more they'll wish to join you. When starting up a Mlm company, there are so many items to the challenge that your up line leaves you to figure out. Lots of article directory sites have plans that do not enable you to make use of associate web links in your posts and the material of your article needs to be of a certain level in order to be published. It's not simply big companies that require these abilities, small businesses likewise can gain big take advantage of IM, as well as providing small business advertising and marketing consulting has actually come to be a significantly rewarding niche market. The main factor is the high quality of the training course discussion. Essentially the training course was a re-purposed variation of the advertising and marketing system he sold to Financial Planners. Ninety percent of the product was the same. This program was rather topsy-turvy, was thrown together in a random manner! Pages were crooked (Third & 2nd generation copies!) and had missing pages. The info discussion was disjointed. For example, it was hard to keep from obtaining sidetracked by the poor quality of the web page duplicates. 2. Numerous NETWORK MARKETING products are overpriced wherefore you obtain. One issue that multi level marketing business face is validating the prices they charge. This is specifically real on a line of product that an individual could drop to a regional seller as well as purchase for half the price. One: Reciprocatory connecting - This is when you trade relate to an additional internet site owner. Simply puts, they place your link on their site as well as you put their link on your website. So, you are essentially swapping web links. You need to remember that you only wish to exchange links with sites which are relevant to your website. As an example, if you have a site where you are selling playthings, you do not intend to trade relate to an internet site that is marketing golf products. As soon as you have books as well as information items of your own, you could open up an entire brand-new globe of web marketing. These are your suggestions you could advertise meaning nobody else has touched on them in just the same way. There are not hundreds of other individuals currently coming close to the suggestion similarly as you are. But ultimately there could be numerous other individuals promoting and offering YOUR digital book. You will need to use yourself and also learn the necessary skills that are associated with marketing any kind of opportunity on the web today. Your capacity to find out, as well as master advertising and marketing skills, will identify whether you end up being a success or otherwise. Amazing Selling Machine Exposed

[aywdavbf-blog]

Techniques to Hire a Wedding Planner

It was once that Wedding Planner Sydney were considered an extra to the wealthy and/or celebrities. Nothing may be more wrong. If you are recently engaged, or even a month from your wedding and need just a little help, this is a sensible, intelligent and real guide to finding that significant other that can get you down the aisle for your other significant other with style. Fundamental essentials quick, crucial summary sentences you need NOW: 1) Talk to friends, vendors and consider blogs and sites that you trust. Ask their recommendations. Schedule meetings with a minimum of three highly vetted consultants/planners after checking out their websites to see their work. Come furnished with questions and employ this since your guide. Primarily, follow your gut to see individual preference click with. Those consultations should be by appointment only not to mention, gratis! 2) First question: can you comparable to their style (of manners, humour, dress, organization)? Does they make you smile/feel calm? If so, which is a good sign you will end up an excellent team. Remember, a marriage planner is an element budget guru, part organizational ninja, part shrink, part style consultant and part family therapist. He / she (along with their team) will probably be your sanity, your laugh, your respite as well as your guide. Choose wisely! 3) Just how long has he/she been in business? The number of weddings has he/she executed? If the answer is "I planned my very own wedding plus it was SO much fun" or, ditto, "I planned my daughter's wedding and it am fulfilling!" then, run. They are called hobbyists and there are hundreds of them masquerading as experienced pros. Having a class in wedding planning won't come up with a wedding coordinator, either. You want to ensure that your planner has been doing at least 50 weddings. A great general guideline can also be a minimum of three years in business. Are they using any lawsuits filed against them? Bad sign. Would they get lots of local and national press? GREAT sign. 4) Are they using several different ways to plot, such as full-service (perfect for most brides), weekend of and hourly? Is it reachable during most business hours and a few after hours? Don't abuse it and call at 3 am inside a panic, but expect that they will reply promptly if you have burning issues. Planners continue to exist their smartphones, so text and email also. These are super organized! 5) Whenever they charge extra for rehearsal and rehearsal dinner, what a a red flag. Wedding day planners may also manage that will brunch the day after. Your ideal planner could even offer to pack you to your honeymoon and make sure a vehicle call for to the airport. Soup to nuts is the reason why you pay reduced for excellence! In the event you decide on a more abbreviated planning experience, expect great attention and excellence also. "Day of" is rarely really "Day Of" - your planner should start ending up in a couple weeks prior and know your wedding reception such as the palm of his/her hand, double checking contracts, drawing up timelines, vendor lists and being on-site for your marriage ceremony, setup, breakdown as well as other parties. 6) Talking about money - cheaper is not better with wedding planners. A fantastic wedding planner insures himself given they've got the relationships because of the best vendors - they are buying in volume and definately will get Superior prices for you on cakes, site rentals, floral design, stationery, photographers, caterers. They understand the most effective vendors in the industry and will give you many choices for every element of the wedding. Sadly, with a vendor, You're a one-trick pony (I understand this seems harsh, nevertheless, you only got married once, right?), however that planner is bread and butter and they can get out of their method to please a planner. What might appear a little steep is really going to emerge like a budget saver in your case. Great wedding planners will follow your financial allowance for the letter and you there. Awesome! 7) To that point, a marriage planner who takes kickbacks from vendors just isn't ethical or for you. He/she is the advocate and expenses you enough money. And also this means he/she use precisely the same vendors frequently, irrespective of your own personal style. Double-dipping to line their pockets? Hightail it. It's really a valid question to inquire about. It really is unethical and immoral. 8) Can your ideal candidates allow you to get coveted appointments to the bridal fashion shows? Ensure you get a last-minute tasting during this great caterer? Call for to view a coveted band or DJ? Make the most elegant papery quickly, without drama? Create the favors you have always wanted and deliver the crooks to the hotel or with a plane on your destination? Go with you to definitely fittings that assist you using your registry? They should be able to perform this! They should also encourage spent real-time using your fiance and also order that you get massages, head to dinner along with your beloved sans wedding talk and get your exercise and nutrition on course.

[andrewdburton]

How mutual fund fees can cost you big bucks

Robert Farrington from The College Investor recently went to bat for one of his readers. “I feel like my advisor isn’t steering me in the right path,” his reader told him. “When I mention [index funds] to him, he changes the subject or diverts to other topics.”

Farrington ran the numbers and discovered that his reader’s financial advisor stood to gain $7247.50 in commissions by recommending expensive mutual funds. But that’s not all. “When you add in the expense ratio, this portfolio is costing the investor $11,004.71 in year one,” Farrington writes. “And potentially costing the investor $1,879.21 or more per year after!” (And that doesn’t include any commissions and fees created by rebalancing the portfolio periodically.)

As an experiment, Farrington looked at what it would take to move his reader’s existing portfolio to low-cost index funds. The results were shocking: “By simply investing in a low cost portfolio, we were able to reduce total costs from $11,004.71 to just $176.60. That’s a 99% reduction in costs.”

This reminds me of a story from my own life.

Boxed In by Bad Investments

Before my father died in 1995, he set up a profit-sharing plan for the employees of the family box factory. Each year, the company contributed some amount (up to 15% of all employees’ earnings per year) into an investment account. Because we didn’t know any better, we used a big-name brokerage firm to manage this money.

My cousin Nick, who is a bit of a money nerd, kept records for the box company. After a few years, he noticed something strange. Although the stock market was booming because of the tech bubble, our investment accounts were not. In fact, they were barely growing at all. He did some digging and his research left him fuming. We had trusted that the big-name brokerage firm was doing their best for us, but that wasn’t the case. They were doing their best for themselves.

When I asked Nick if he remembered this (after almost twenty years), he certainly did. “It pissed me off,” he said. The brokerage had us invested in what was called a Unit Investment Trust. Here’s how Nick describes the situation:

The Unit Investment Trust consisted of a bundle of stocks selected to be purchased by [the brokerage firm] to meet some investment criteria. Units of this bundle could be purchased for $1.00 plus an 8% commission.

At a specific time they purchased the stock and held it for one year. At the end of the year they sold the stock and took their 4% management fee and distributed the rest of the funds to those that had purchased units. Then do it all over again. I don’t recall the actual commission and fee rates but it seems that the total was about 12%.

That coupled with normal management fees of 3-5% for their funds (plus commissions) are what convinced me I didn’t like [the company]. By comparison, Vanguard’s Growth and Income Fund has a expense ratio of 0.34%. Vanguard’s 500 Index Fund has an expense ratio of 0.14%.

Can you believe it? The big-name brokerage was screwing us over to the tune of nearly twelve percent per year. It’s this kind of bullshit that makes me such a vocal advocate of do-it-yourself investing with index funds. I don’t care what kind of returns your broker promises you. They’re not going to be enough to compensate for fees of 12%! (And yes, I know, there are ethical advisors out there. But how can you tell the good from the bad?)

This is also an example of why one of the core tenets of Get Rich Slowly is nobody cares more about your money than you do. It’s very easy to trust professionals — whether they’re brokers or realtors or, well, bloggers — just because they have perceived position of authority. The advice that others give you is almost always in their best interest, which may or may not be the same as your best interest. Do your own research, get advice from a variety of sources, and in the end, make your own decisions based on your own goals and values.

Den of Thieves

At the end of his article at The College Investor, Farrington writes:

The sad part of this is that it takes a lot of time and effort to figure out what you’re actually paying your financial advisor. I spent about an hour researching the fees, expense ratios, and commissions that the financial advisor was receiving for this article. And most people won’t be spending their time doing that.

I really wish more advisors were up front, honest, and transparent about their fees. It’s why I really like fee-only financial planners. You pay a flat fee up front and get a financial plan that you can execute.

For an even longer take on how Wall Street takes your money (legally), check out Todd Tresidder’s rant at Financial Mentor. He too wants better disclosures:

I believe it should be illegal for any broker, financial advisor, fiduciary, brokerage firm, salesperson, or anyone else having contact with a client’s money to receive any compensation or distribute any payment related to that account that isn’t clearly disclosed upfront and direct in the form of a financial statement.

Written disclosures in contracts aren’t adequate because few people read or understand them, and not having any disclosure is completely unacceptable. You must show the client the money – that’s the key point.

If you really want to be grossed out by the pirates of Wall Street, read Den of Thieves, the 1992 bestseller from James B. Stewart. This book recounts the insider trading scandals of the 1980s, when names like Ivan Boesky and Michael Milken were prominent in the news.

Den of Thieves didn’t just open my eyes to the actions of these well-known crooks; it exposed just how much money the big-name brokerages as a whole bleed from our economy. And they do it by taking advantage of everyday people like you and me.

The post How mutual fund fees can cost you big bucks appeared first on Get Rich Slowly.

from Finance http://www.getrichslowly.org/2017/11/30/mutual-fund-fees/ via http://www.rssmix.com/

[foursproutwealth-blog]

How mutual fund fees can cost you big bucks

New Post has been published on http://foursprout.com/wealth/how-mutual-fund-fees-can-cost-you-big-bucks/

How mutual fund fees can cost you big bucks

Robert Farrington from The College Investor recently went to bat for one of his readers. “I feel like my advisor isn’t steering me in the right path,” his reader told him. “When I mention [index funds] to him, he changes the subject or diverts to other topics.”

Farrington ran the numbers and discovered that his reader’s financial advisor stood to gain $7247.50 in commissions by recommending expensive mutual funds. But that’s not all. “When you add in the expense ratio, this portfolio is costing the investor $11,004.71 in year one,” Farrington writes. “And potentially costing the investor $1,879.21 or more per year after!” (And that doesn’t include any commissions and fees created by rebalancing the portfolio periodically.)

As an experiment, Farrington looked at what it would take to move his reader’s existing portfolio to low-cost index funds. The results were shocking: “By simply investing in a low cost portfolio, we were able to reduce total costs from $11,004.71 to just $176.60. That’s a 99% reduction in costs.”

This reminds me of a story from my own life.

Boxed In by Bad Investments

Before my father died in 1995, he set up a profit-sharing plan for the employees of the family box factory. Each year, the company contributed some amount (up to 15% of all employees’ earnings per year) into an investment account. Because we didn’t know any better, we used a big-name brokerage firm to manage this money.

My cousin Nick, who is a bit of a money nerd, kept records for the box company. After a few years, he noticed something strange. Although the stock market was booming because of the tech bubble, our investment accounts were not. In fact, they were barely growing at all. He did some digging and his research left him fuming. We had trusted that the big-name brokerage firm was doing their best for us, but that wasn’t the case. They were doing their best for themselves.

When I asked Nick if he remembered this (after almost twenty years), he certainly did. “It pissed me off,” he said. The brokerage had us invested in what was called a Unit Investment Trust. Here’s how Nick describes the situation:

The Unit Investment Trust consisted of a bundle of stocks selected to be purchased by [the brokerage firm] to meet some investment criteria. Units of this bundle could be purchased for $1.00 plus an 8% commission.

At a specific time they purchased the stock and held it for one year. At the end of the year they sold the stock and took their 4% management fee and distributed the rest of the funds to those that had purchased units. Then do it all over again. I don’t recall the actual commission and fee rates but it seems that the total was about 12%.

That coupled with normal management fees of 3-5% for their funds (plus commissions) are what convinced me I didn’t like [the company]. By comparison, Vanguard’s Growth and Income Fund has a expense ratio of 0.34%. Vanguard’s 500 Index Fund has an expense ratio of 0.14%.

Can you believe it? The big-name brokerage was screwing us over to the tune of nearly twelve percent per year. It’s this kind of bullshit that makes me such a vocal advocate of do-it-yourself investing with index funds. I don’t care what kind of returns your broker promises you. They’re not going to be enough to compensate for fees of 12%! (And yes, I know, there are ethical advisors out there. But how can you tell the good from the bad?)

This is also an example of why one of the core tenets of Get Rich Slowly is nobody cares more about your money than you do. It’s very easy to trust professionals — whether they’re brokers or realtors or, well, bloggers — just because they have perceived position of authority. The advice that others give you is almost always in their best interest, which may or may not be the same as your best interest. Do your own research, get advice from a variety of sources, and in the end, make your own decisions based on your own goals and values.

Den of Thieves

At the end of his article at The College Investor, Farrington writes:

The sad part of this is that it takes a lot of time and effort to figure out what you’re actually paying your financial advisor. I spent about an hour researching the fees, expense ratios, and commissions that the financial advisor was receiving for this article. And most people won’t be spending their time doing that.

I really wish more advisors were up front, honest, and transparent about their fees. It’s why I really like fee-only financial planners. You pay a flat fee up front and get a financial plan that you can execute.

For an even longer take on how Wall Street takes your money (legally), check out Todd Tresidder’s rant at Financial Mentor. He too wants better disclosures:

I believe it should be illegal for any broker, financial advisor, fiduciary, brokerage firm, salesperson, or anyone else having contact with a client’s money to receive any compensation or distribute any payment related to that account that isn’t clearly disclosed upfront and direct in the form of a financial statement.

Written disclosures in contracts aren’t adequate because few people read or understand them, and not having any disclosure is completely unacceptable. You must show the client the money – that’s the key point.

If you really want to be grossed out by the pirates of Wall Street, read Den of Thieves, the 1992 bestseller from James B. Stewart. This book recounts the insider trading scandals of the 1980s, when names like Ivan Boesky and Michael Milken were prominent in the news.

Den of Thieves didn’t just open my eyes to the actions of these well-known crooks; it exposed just how much money the big-name brokerages as a whole bleed from our economy. And they do it by taking advantage of everyday people like you and me.

The post How mutual fund fees can cost you big bucks appeared first on Get Rich Slowly.

[foursprout-blog]

How mutual fund fees can cost you big bucks

New Post has been published on http://foursprout.com/wealth/how-mutual-fund-fees-can-cost-you-big-bucks/

How mutual fund fees can cost you big bucks

Robert Farrington from The College Investor recently went to bat for one of his readers. “I feel like my advisor isn’t steering me in the right path,” his reader told him. “When I mention [index funds] to him, he changes the subject or diverts to other topics.”

Farrington ran the numbers and discovered that his reader’s financial advisor stood to gain $7247.50 in commissions by recommending expensive mutual funds. But that’s not all. “When you add in the expense ratio, this portfolio is costing the investor $11,004.71 in year one,” Farrington writes. “And potentially costing the investor $1,879.21 or more per year after!” (And that doesn’t include any commissions and fees created by rebalancing the portfolio periodically.)

As an experiment, Farrington looked at what it would take to move his reader’s existing portfolio to low-cost index funds. The results were shocking: “By simply investing in a low cost portfolio, we were able to reduce total costs from $11,004.71 to just $176.60. That’s a 99% reduction in costs.”

This reminds me of a story from my own life.

Boxed In by Bad Investments

Before my father died in 1995, he set up a profit-sharing plan for the employees of the family box factory. Each year, the company contributed some amount (up to 15% of all employees’ earnings per year) into an investment account. Because we didn’t know any better, we used a big-name brokerage firm to manage this money.

My cousin Nick, who is a bit of a money nerd, kept records for the box company. After a few years, he noticed something strange. Although the stock market was booming because of the tech bubble, our investment accounts were not. In fact, they were barely growing at all. He did some digging and his research left him fuming. We had trusted that the big-name brokerage firm was doing their best for us, but that wasn’t the case. They were doing their best for themselves.

When I asked Nick if he remembered this (after almost twenty years), he certainly did. “It pissed me off,” he said. The brokerage had us invested in what was called a Unit Investment Trust. Here’s how Nick describes the situation:

The Unit Investment Trust consisted of a bundle of stocks selected to be purchased by [the brokerage firm] to meet some investment criteria. Units of this bundle could be purchased for $1.00 plus an 8% commission.

At a specific time they purchased the stock and held it for one year. At the end of the year they sold the stock and took their 4% management fee and distributed the rest of the funds to those that had purchased units. Then do it all over again. I don’t recall the actual commission and fee rates but it seems that the total was about 12%.

That coupled with normal management fees of 3-5% for their funds (plus commissions) are what convinced me I didn’t like [the company]. By comparison, Vanguard’s Growth and Income Fund has a expense ratio of 0.34%. Vanguard’s 500 Index Fund has an expense ratio of 0.14%.

Can you believe it? The big-name brokerage was screwing us over to the tune of nearly twelve percent per year. It’s this kind of bullshit that makes me such a vocal advocate of do-it-yourself investing with index funds. I don’t care what kind of returns your broker promises you. They’re not going to be enough to compensate for fees of 12%! (And yes, I know, there are ethical advisors out there. But how can you tell the good from the bad?)

This is also an example of why one of the core tenets of Get Rich Slowly is nobody cares more about your money than you do. It’s very easy to trust professionals — whether they’re brokers or realtors or, well, bloggers — just because they have perceived position of authority. The advice that others give you is almost always in their best interest, which may or may not be the same as your best interest. Do your own research, get advice from a variety of sources, and in the end, make your own decisions based on your own goals and values.

Den of Thieves

At the end of his article at The College Investor, Farrington writes:

The sad part of this is that it takes a lot of time and effort to figure out what you’re actually paying your financial advisor. I spent about an hour researching the fees, expense ratios, and commissions that the financial advisor was receiving for this article. And most people won’t be spending their time doing that.

I really wish more advisors were up front, honest, and transparent about their fees. It’s why I really like fee-only financial planners. You pay a flat fee up front and get a financial plan that you can execute.

For an even longer take on how Wall Street takes your money (legally), check out Todd Tresidder’s rant at Financial Mentor. He too wants better disclosures:

I believe it should be illegal for any broker, financial advisor, fiduciary, brokerage firm, salesperson, or anyone else having contact with a client’s money to receive any compensation or distribute any payment related to that account that isn’t clearly disclosed upfront and direct in the form of a financial statement.

Written disclosures in contracts aren’t adequate because few people read or understand them, and not having any disclosure is completely unacceptable. You must show the client the money – that’s the key point.

If you really want to be grossed out by the pirates of Wall Street, read Den of Thieves, the 1992 bestseller from James B. Stewart. This book recounts the insider trading scandals of the 1980s, when names like Ivan Boesky and Michael Milken were prominent in the news.

Den of Thieves didn’t just open my eyes to the actions of these well-known crooks; it exposed just how much money the big-name brokerages as a whole bleed from our economy. And they do it by taking advantage of everyday people like you and me.

The post How mutual fund fees can cost you big bucks appeared first on Get Rich Slowly.

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