free dinner investing seminar
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Re: free dinner investing seminar
If your friend goes, tell him/her this "He/she who is sold anything or buys anything, will pay for his dinner and that of everyone else in attendance plus pay for the salesman's new car parked outside". If that does not wake him/her up on why attending this "free dinner" is a bad idea, then you ought to go with him.
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions
Re: free dinner investing seminar
You lost me here. Why is a free dinner a bad idea?Grt2bOutdoors wrote: ↑Thu Feb 08, 2018 5:56 pm If your friend goes, tell him/her this "He/she who is sold anything or buys anything, will pay for his dinner and that of everyone else in attendance plus pay for the salesman's new car parked outside". If that does not wake him/her up on why attending this "free dinner" is a bad idea, then you ought to go with him.
I am not a lawyer, accountant or financial advisor. Any advice or suggestions that I may provide shall be considered for entertainment purposes only.
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Re: free dinner investing seminar
You don't have to be retired for those shysters to target your 401k funds. I regularly get solicited via phone with all sorts of pitches. One pitch was an attorney turned wealth management financial planner with the XYZ Morgan Stanley group who tried to get me to agree to a 30 minute meeting to discuss how they could protect my already "tax deferred" 401K plan from taxation. I like these phone calls because I like to reel them in before dropping the anchor on them - that fellow was pretty angry that I used his "valuable time" during my lunch hour. He beat me to it and hung up on me.
Another fellow wanted to sell me an annuity in an IRA. I took pity on this young lady who called and told her she should find another line of work, and she knew it too - she actually thanked me.
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions
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Re: free dinner investing seminar
There is no such thing as "free". Someone is paying, just who that someone is is up to the attendee. The commissions the salesman receives from any lead generated at these presentations is enough to pay for the entire meal of everyone in attendance plus put a few bucks in the salesman's bank account. How the salesman spends it is up to them, but typically they blow their money on cars. Its all about keeping up appearances.FIREchief wrote: ↑Thu Feb 08, 2018 6:05 pmYou lost me here. Why is a free dinner a bad idea?Grt2bOutdoors wrote: ↑Thu Feb 08, 2018 5:56 pm If your friend goes, tell him/her this "He/she who is sold anything or buys anything, will pay for his dinner and that of everyone else in attendance plus pay for the salesman's new car parked outside". If that does not wake him/her up on why attending this "free dinner" is a bad idea, then you ought to go with him.
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions
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Re: free dinner investing seminar
This one takes the cake! I almost spit my coffee out.....2comma wrote: ↑Wed Feb 07, 2018 10:58 pmAh, a hopeless romantic. Enjoy!Scrapr wrote: ↑Wed Feb 07, 2018 10:23 pm Got a postcard in the mail. Estates & trusts. FREE dinner!!! Normally I would toss without a thought. Then I look at the date. Feb 14th. Hmmm, why is that familiar? Ohhh, Valentines Day!!! Free dinner on the busiest night of the year for couples? This is either going to be great...or a disaster. I'm in!!!
It's going to be a insight into the human condition. Guy is driving 2+ hours to do this. Who schedules a seminar on VD? Better question...Who goes to this on VD? Well, I'm going to find out. It's going to be fascinating. Mrs Scrapr will always remember this Valentines day
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions
Re: free dinner investing seminar
I guess they all vary, but of the three I have gone to, none have been as you describe. No rubber chicken and zero follow up phone calls.KlingKlang wrote: ↑Thu Feb 08, 2018 5:10 pm Be prepared to get a cheap, overcooked chicken dinner followed by at least a hundred follow up phone calls.
Re: free dinner investing seminar
Grt2bOutdoors wrote: ↑Thu Feb 08, 2018 6:12 pm
There is no such thing as "free". Someone is paying, just who that someone is is up to the attendee.
So if a salesman pays, it is "without cost or payment" from you, hence "free" to you. That's the context.Definition of free:
adverb
1.
without cost or payment.
"ladies were admitted free"
Re: free dinner investing seminar
Well, I enjoyed a great steak and my wallet never left my pocket, so it was certainly free to me.Grt2bOutdoors wrote: ↑Thu Feb 08, 2018 6:12 pmThere is no such thing as "free".FIREchief wrote: ↑Thu Feb 08, 2018 6:05 pmYou lost me here. Why is a free dinner a bad idea?Grt2bOutdoors wrote: ↑Thu Feb 08, 2018 5:56 pm If your friend goes, tell him/her this "He/she who is sold anything or buys anything, will pay for his dinner and that of everyone else in attendance plus pay for the salesman's new car parked outside". If that does not wake him/her up on why attending this "free dinner" is a bad idea, then you ought to go with him.
I am not a lawyer, accountant or financial advisor. Any advice or suggestions that I may provide shall be considered for entertainment purposes only.
- KlingKlang
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Re: free dinner investing seminar
Obviously I never have any luck.FIREchief wrote: ↑Thu Feb 08, 2018 5:39 pmI got a delicious Filet Mignon steak dinner at a high end steak house ten minutes from my house. I never received any follow up phone calls. Sounds like you just picked the wrong one to attend.KlingKlang wrote: ↑Thu Feb 08, 2018 5:10 pm Be prepared to get a cheap, overcooked chicken dinner followed by at least a hundred follow up phone calls.
I received three more invitations today but they have all been shredded. Any tips on picking a good one?
Re: free dinner investing seminar
Sure. It's all about the food. Just pick one that is being held at a really nice restaurant that doesn't require a long drive. It really doesn't matter what they are selling, although a variety of topics might be nice. It is fun to see how well (or not) they are able to pitch their snake oil. You already know that whatever it is, it is a bad deal financially. Approach it like a murder mystery dinner show, where you have to spot the clues to solve the (attempted) crime.KlingKlang wrote: ↑Thu Feb 08, 2018 6:44 pmObviously I never have any luck.FIREchief wrote: ↑Thu Feb 08, 2018 5:39 pmI got a delicious Filet Mignon steak dinner at a high end steak house ten minutes from my house. I never received any follow up phone calls. Sounds like you just picked the wrong one to attend.KlingKlang wrote: ↑Thu Feb 08, 2018 5:10 pm Be prepared to get a cheap, overcooked chicken dinner followed by at least a hundred follow up phone calls.
I received three more invitations today but they have all been shredded. Any tips on picking a good one?
I am not a lawyer, accountant or financial advisor. Any advice or suggestions that I may provide shall be considered for entertainment purposes only.
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Re: free dinner investing seminar
I think I have only once received an invitation, and that wasn't at a restaurant I would have been interested in visiting, so I tossed it. Maybe more will come as I approach the appropriate target age
Pretty sure that I could get out of one of those presentations without signing up for anything, though. And maybe it would be an interesting experience if the food was good (vegetarian... so somewhat unlikely).
I have never felt that it was a good idea to waste my precious vacation time attending timeshare presentations in Hawaii in exchange for some show or snorkel trip voucher. I am fortunately able to pay for any such activity with cash instead of time.
Pretty sure that I could get out of one of those presentations without signing up for anything, though. And maybe it would be an interesting experience if the food was good (vegetarian... so somewhat unlikely).
I have never felt that it was a good idea to waste my precious vacation time attending timeshare presentations in Hawaii in exchange for some show or snorkel trip voucher. I am fortunately able to pay for any such activity with cash instead of time.
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Re: free dinner investing seminar
I received an invitation in the mail a few years ago. I was in my late 30s at the time and the invitation was targeted toward teachers. They presented while we ate. The pitch was that our pension wouldn't sufficiently cover our retirement expenses so we should be saving elsewhere. Then they asked to set up appointments with people to meet individually and go over particulars for our situation. I said "not interested" once and they didn't pursue it any further. Even if they had pressured me as hard as humanly possible, they would have still gotten the same response from me. You have to be immovable for these presentations to work out in your favor. I wish they would invite me more often as the steaks were really, really good.flamesabers wrote: ↑Thu Feb 08, 2018 11:31 amI was wondering the same thing. While getting a good free meal sounds enticing, it's probably a good thing that I'm not getting such invitations. I don't like getting solicitations for overpriced and/or unwanted products.
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Re: free dinner investing seminar
The local TD Ameritrade invites certain of its clients to a real nice dinner every month and I go when I can. I enjoy going and learning. I've never signed up for services presented at those dinners. Same thing goes for time share presentations. We just got back from a 5-day vacation in Cacun staying at the Westin resort on their nickels and thoughroughly enjoyed it. We did have to sit through a two-hour presentation but we bought nothing.
I can say 'No very easily.
TravelforFun
I can say 'No very easily.
TravelforFun
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Re: free dinner investing seminar
I don't understand?
I got LTCi and annuities (the high priced stuff) and I never got more than coffee. Not even sure if there were donuts.
So how does one get invited/solicited to one of these thing?
I got LTCi and annuities (the high priced stuff) and I never got more than coffee. Not even sure if there were donuts.
So how does one get invited/solicited to one of these thing?
Rev012718; 4 Incm stream buckets: SS+pension; dfr'd GLWB VA & FI anntys, by time & $$ laddered; Discretionary; Rentals. LTCi. Own, not asset. Tax TBT%. Early SS. FundRatio (FR) >1.1 67/70yo
Re: free dinner investing seminar
What's an "HNW platelicker"?flossy21 wrote: ↑Thu Feb 08, 2018 7:35 am If you want some idea of what to expect then check out this link...
http://www.wealthmanagement.com/forums/ ... l-seminars
This is a link to the forum for Registered Reps. Basically the Boglehead's nemesis. As you will see, if you attend and don't buy then you are labeled a "plate licker".
Good luck.
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Re: free dinner investing seminar
Most of the people reading this thread (HNW = High Net Worth)TIAX wrote: ↑Thu Feb 08, 2018 7:55 pmWhat's an "HNW platelicker"?flossy21 wrote: ↑Thu Feb 08, 2018 7:35 am If you want some idea of what to expect then check out this link...
http://www.wealthmanagement.com/forums/ ... l-seminars
This is a link to the forum for Registered Reps. Basically the Boglehead's nemesis. As you will see, if you attend and don't buy then you are labeled a "plate licker".
Good luck.
“Yesterday is but a dream, Tomorrow is only a vision. But today well lived makes every yesterday a dream of happiness, and every tomorrow a vision of hope.”― Kālidāsa
Re: free dinner investing seminar
Similar to credit card companies labeling those who responsibly pay their bills in full every month as deadbeats.beingmybest wrote: ↑Thu Feb 08, 2018 8:01 pmMost of the people reading this thread (HNW = High Net Worth)TIAX wrote: ↑Thu Feb 08, 2018 7:55 pmWhat's an "HNW platelicker"?flossy21 wrote: ↑Thu Feb 08, 2018 7:35 am If you want some idea of what to expect then check out this link...
http://www.wealthmanagement.com/forums/ ... l-seminars
This is a link to the forum for Registered Reps. Basically the Boglehead's nemesis. As you will see, if you attend and don't buy then you are labeled a "plate licker".
Good luck.
You do the right thing, and you get labeled.
- FreeAtLast
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Re: free dinner investing seminar
Hah! At least one poster in this thread has the same reaction that I would "listening to such a pitch". My acute "Bravo Sierra" personal detector would get me angry and simmering throughout the presentation. I would not be able to enjoy the excellent meal. I receive these invitations periodically and they go right into my shredder.
Illegitimi non carborundum.
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Re: free dinner investing seminar
I look at it as learning opportunity. Last one I attended was conducted by tax attorneys explaining new tax laws. I learned a lot.FreeAtLast wrote: ↑Thu Feb 08, 2018 8:32 pmHah! At least one poster in this thread has the same reaction that I would "listening to such a pitch". My acute "Bravo Sierra" personal detector would get me angry and simmering throughout the presentation. I would not be able to enjoy the excellent meal. I receive these invitations periodically and they go right into my shredder.
TravelforFun
Re: free dinner investing seminar
I like going to these things and have actually bought what they were offering--because we needed/wanted it anyway.
The most recent was for estate planning. We had gone to one of these presentations 30+ years ago and had trusts etc prepared but they were now very outdated and the kids are now adults. We had been putting off updating everything and just never got around to it. But DH and I liked the lawyer at the recent presentation and she appeared to know a lot so we made a follow up appointment with her. DH also had a problem with a trust that he was inheriting from and the lawyer got things moving with the trustee just by writing a letter on his behalf. We are almost ready to sign the new trusts she created for us. Not only was food not offered at the presentation, but we are giving HER a gift besides the payment we owe. Since the original lawyer is nowhere to be found, I wanted someone nearby that DH and our kids could see, to walk them through the after-death process.
About a year ago, we went to a cremation presentation at Applebee's because we had already decided to be cremated and if we signed up for something now, that would be one less thing our kids would have to worry about. There were 12 potential customers there and lots of "death" jokes ("over my dead body", something to get "fired up" about). [It comes across better verbally when everyone is in a good mood than in print. Sorry.] They pick up from the hospital or site where you died--even internationally--after the OK is given by local authorities and return the ashes to whoever is designated or to the site of the funeral, and will even scatter them at sea or in the forest if you wish--all for one fixed price. The salesman knew not everyone would buy, so at the end of a good lunch and his pitch, he asked who wanted to hear more? About half the people stayed and half were free to leave after hearing the basic sales pitch. Then he asked if we had individual questions. I asked what happens if a body is not found or it is in a house fire. He informed us that if the person dies without using the services, you get some money back because part of the cost goes into a trust fund (by law) in case the cremation company goes out of business. [I've listed that as an asset on our yearly Net Worth statement as our kids will never think to ask for it back otherwise.]
Afterward, we told several people about this planning, besides our kids, and one person even commented that we seem to talk easily about death. Yeah, why not? Why leave decisions to those who are grieving when we can address this now?
A third presentation that we benefited from was hearing a timeshare talk in Hawaii in exchange for a free luau dinner, which I wanted. I think we were paired with an individual salesman who went through his presentation and showed us some rooms. We like to look at properties for fun anyways as DH worked in the construction trade for a while and I like to see interior decorations for ideas. (We look at Open Houses in our neighborhood all the time when we go walking with no intention of moving and often learn something new about our neighborhood.) The only "problem" with this presentation is that it dragged on about an hour longer than it was advertised for. At the end, they said they had worldwide sites where we could use our points if we didn't want to keep returning to the same site. So where would we like to stay? I gave them a true answer and named some of our ancestral villages, but not only did they not have sites there, but the closest motels there are about 10 miles away. I already knew that. Later that day, we had a wonder luau feast with dancing, music, and flames--the whole works!
The only presentation that I wish I hadn't gone to was by an agent who helped you get the best Medicare Advantage plan that suits your needs. My questions were about the Medigap plans that he couldn't answer, which he appeared to not know much about. I wanted him to call me afterwards after he found some answers, but he never did. But Medicare pays him for each person he signs up and the Marie Callender food was very good.
All of these were initiated by mailings we received, except for the Hawaii one which was in the hotel next to ours and they had signs outside. At the luau, I heard that some of the people had their trip paid for by the timeshare company. I wonder how to get that offer!
The most recent was for estate planning. We had gone to one of these presentations 30+ years ago and had trusts etc prepared but they were now very outdated and the kids are now adults. We had been putting off updating everything and just never got around to it. But DH and I liked the lawyer at the recent presentation and she appeared to know a lot so we made a follow up appointment with her. DH also had a problem with a trust that he was inheriting from and the lawyer got things moving with the trustee just by writing a letter on his behalf. We are almost ready to sign the new trusts she created for us. Not only was food not offered at the presentation, but we are giving HER a gift besides the payment we owe. Since the original lawyer is nowhere to be found, I wanted someone nearby that DH and our kids could see, to walk them through the after-death process.
About a year ago, we went to a cremation presentation at Applebee's because we had already decided to be cremated and if we signed up for something now, that would be one less thing our kids would have to worry about. There were 12 potential customers there and lots of "death" jokes ("over my dead body", something to get "fired up" about). [It comes across better verbally when everyone is in a good mood than in print. Sorry.] They pick up from the hospital or site where you died--even internationally--after the OK is given by local authorities and return the ashes to whoever is designated or to the site of the funeral, and will even scatter them at sea or in the forest if you wish--all for one fixed price. The salesman knew not everyone would buy, so at the end of a good lunch and his pitch, he asked who wanted to hear more? About half the people stayed and half were free to leave after hearing the basic sales pitch. Then he asked if we had individual questions. I asked what happens if a body is not found or it is in a house fire. He informed us that if the person dies without using the services, you get some money back because part of the cost goes into a trust fund (by law) in case the cremation company goes out of business. [I've listed that as an asset on our yearly Net Worth statement as our kids will never think to ask for it back otherwise.]
Afterward, we told several people about this planning, besides our kids, and one person even commented that we seem to talk easily about death. Yeah, why not? Why leave decisions to those who are grieving when we can address this now?
A third presentation that we benefited from was hearing a timeshare talk in Hawaii in exchange for a free luau dinner, which I wanted. I think we were paired with an individual salesman who went through his presentation and showed us some rooms. We like to look at properties for fun anyways as DH worked in the construction trade for a while and I like to see interior decorations for ideas. (We look at Open Houses in our neighborhood all the time when we go walking with no intention of moving and often learn something new about our neighborhood.) The only "problem" with this presentation is that it dragged on about an hour longer than it was advertised for. At the end, they said they had worldwide sites where we could use our points if we didn't want to keep returning to the same site. So where would we like to stay? I gave them a true answer and named some of our ancestral villages, but not only did they not have sites there, but the closest motels there are about 10 miles away. I already knew that. Later that day, we had a wonder luau feast with dancing, music, and flames--the whole works!
The only presentation that I wish I hadn't gone to was by an agent who helped you get the best Medicare Advantage plan that suits your needs. My questions were about the Medigap plans that he couldn't answer, which he appeared to not know much about. I wanted him to call me afterwards after he found some answers, but he never did. But Medicare pays him for each person he signs up and the Marie Callender food was very good.
All of these were initiated by mailings we received, except for the Hawaii one which was in the hotel next to ours and they had signs outside. At the luau, I heard that some of the people had their trip paid for by the timeshare company. I wonder how to get that offer!
Re: free dinner investing seminar
My wife and I wound up getting a very nice steak dinner as well. I didn't hear anything I didn't already know. They passed out cards near the beginning of the presentation with several check boxes on main investment concerns like not having enough money, not understanding how to invest, etc. I put low cost as my primary and only concern. I watched them outside the room shuffling through the cards and then they identified the couple and had them go to another area for "dessert". They never got to us so we just left
I agree with the chief, enjoy a nice meal, a little spiel, maybe an interesting conversation, etc. I get about a dozen of these a year, just recently got 3 in the mail last couple of weeks, one at a very upscale Italian restaurant, hmmmm . . . .
I agree with the chief, enjoy a nice meal, a little spiel, maybe an interesting conversation, etc. I get about a dozen of these a year, just recently got 3 in the mail last couple of weeks, one at a very upscale Italian restaurant, hmmmm . . . .
Bogleheads Wiki: https://www.bogleheads.org/wiki/Main_Page
Re: free dinner investing seminar
Timely topic
I just went to my first "free dinner" tonight. It was sponsored by my partner's financial advisor. It was very basic and low key with no sense of pressure to invest or do anything. I had the fillet and it was delicious! My wife had the vegetarian option. I also had more than a couple of free drinks. I guess I am officially a plate licker. Do I get a badge or something?
I just went to my first "free dinner" tonight. It was sponsored by my partner's financial advisor. It was very basic and low key with no sense of pressure to invest or do anything. I had the fillet and it was delicious! My wife had the vegetarian option. I also had more than a couple of free drinks. I guess I am officially a plate licker. Do I get a badge or something?
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Re: free dinner investing seminar
as said, I have never been approached for a free dinner
I am a type of person who goes to the provider and asks questions .
I have literally been to dozens of one-on-one presentations of LTCi and Annuities. I wanted insurances and I sought out those who sold it and compared their offerings.
My regret, I didn't ask sooner.
YMMV
I am a type of person who goes to the provider and asks questions .
I have literally been to dozens of one-on-one presentations of LTCi and Annuities. I wanted insurances and I sought out those who sold it and compared their offerings.
My regret, I didn't ask sooner.
YMMV
Rev012718; 4 Incm stream buckets: SS+pension; dfr'd GLWB VA & FI anntys, by time & $$ laddered; Discretionary; Rentals. LTCi. Own, not asset. Tax TBT%. Early SS. FundRatio (FR) >1.1 67/70yo
Re: free dinner investing seminar
Nah. Just the free dinner and any bonus entertainment you may have picked up along the way.
(Welcome to the BH Plate Licker Guild - we don't have any official titles, although I did hear somebody refer to me as chief-platelicker. I'm not sure if that was a compliment.....)
I am not a lawyer, accountant or financial advisor. Any advice or suggestions that I may provide shall be considered for entertainment purposes only.
Re: free dinner investing seminar
I think one of these free dinner investing seminars would be a great place for a bunch of Bogleheads to get together for the evening!
Re: free dinner investing seminar
I think that a cadre of BH plate-lickers, not identifying themselves as such, would be a powerful deterrent to high priced annuity salesmen and others who have nefarious motives. No need to gang up on them; far more effective when dispersed. I don't feel bad for those who make their living deceiving the most vulnerable when they squirm at questions which expose falsehoods. If they want me to "eat their lunch" (or dinner), I'm more than willing to oblige.
Re: free dinner investing seminar
Back on Page 1 of this thread, I removed an "enthusiastic" interchange which turned into a rant. As a reminder, see: General Etiquette
We expect this forum to be a place where people can feel comfortable asking questions and where debates and discussions are conducted in civil tones.
... At all times we must conduct ourselves in a respectful manner to other posters. Attacks on individuals, insults, name calling, trolling, baiting or other attempts to sow dissension are not acceptable.
Re: free dinner investing seminar
They'll find you when you turn 55. I don't know how they do it, but we get the offers all the time. Some are for really really nice restaurants and I have begged my husband to attend but he is impervious to my pleas for a free steak dinner.
- Earl Lemongrab
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Re: free dinner investing seminar
I get those now and then, and I'd be interested in attending but they're never near me. I don't want to drive 30 minutes during rush hour (they're always like 6pm on a weeknight).
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Re: free dinner investing seminar
Serve up bowls of Cherrios for a week, then maybe he'll change his mind
{assuming your H does not prep his own meals. I am happy with ramen which I prep myself. Maybe that is why I am interested in free meals }
Rev012718; 4 Incm stream buckets: SS+pension; dfr'd GLWB VA & FI anntys, by time & $$ laddered; Discretionary; Rentals. LTCi. Own, not asset. Tax TBT%. Early SS. FundRatio (FR) >1.1 67/70yo
Re: free dinner investing seminar
When someone buys me dinner, I am respectful and polite (while declining their pitch).Wildebeest wrote: ↑Wed Feb 07, 2018 8:57 pm ... I will get all reffed up to expose what I consider how the"attendees" are taking advantage of, while the "attendees" consider "Wildebeest" a jerk for asking the tough questions to the presenter, who just paid for dinner.
"Never bite the hand that feeds you."
Re: free dinner investing seminar
Agree.likegarden wrote: ↑Thu Feb 08, 2018 8:00 am I and my wife never went to any of those. I am proud to have convinced my then young son not to go to a timeshare weekend, after having read here at the Bogleheads about those scams.
We have enough money, can pay for nice dinners in nice settings, don't need the noise of a presentation we do not care about.
Once, many years ago, my spouse dragged me to a timeshare pitch. I don't remember what they were giving away but whatever it was did not compensate for hours sitting there listening to their drivel.
I don't like fancy restaurants. Given a choice between a free dinner at a place like Ruth's Chris and paying for my meal at our neighborhood family place I would choose to pay. 100 out of 100 times.
Even if they had the session somewhere I would want to eat, no thanks. I value time too much. Spouse and I do not get many chances to sit together, talk and have a pleasant meal. Messing that up by having someone annoy us while we are trying to talk to each other? I cannot imagine wanting that.
It would be different if we were struggling to pay for food. Then, sure, I would put up with a lot to avoid going to bed hungry. Of course, then I would not be an appealing mark...
We don't know how to beat the market on a risk-adjusted basis, and we don't know anyone that does know either |
--Swedroe |
We assume that markets are efficient, that prices are right |
--Fama
Re: free dinner investing seminar
Unfortunately, he's a good cook. If I told him we're having cereal, he'd whip up something tasty.itstoomuch wrote: ↑Fri Feb 09, 2018 1:02 pmServe up bowls of Cherrios for a week, then maybe he'll change his mind
{assuming your H does not prep his own meals. I am happy with ramen which I prep myself. Maybe that is why I am interested in free meals }
I am going to ask him again the next time, though, because the offers can usually be extended to another couple, and we have friends who've agreed to join us if I can convince him. I was excited when I checked today's mail and saw a retirement seminar offer! But it didn't include a free meal; it's at our local community center.
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Re: free dinner investing seminar
^ cheap coffee, cheaper teas and stale cookies
Leave H at home and take the girls out. Then tell him that you are interested in some of the stuff. The next meeting is in 2 weeks.
Leave H at home and take the girls out. Then tell him that you are interested in some of the stuff. The next meeting is in 2 weeks.
Rev012718; 4 Incm stream buckets: SS+pension; dfr'd GLWB VA & FI anntys, by time & $$ laddered; Discretionary; Rentals. LTCi. Own, not asset. Tax TBT%. Early SS. FundRatio (FR) >1.1 67/70yo
Re: free dinner investing seminar
The food at the dinners that I've been to in the past have been allright ; they're betting on a couple of commission sales to probably more than pay the dinner bill and the restaurant may be giving them a break also .
Re: free dinner investing seminar
This thread inspired me to check for.timeshares on eBay. Many have sold for $0.01. The minimum bid. The sellers.claim to be paying over $1,000 to get out from under the timeshare. I wonder who buys these things???
We don't know how to beat the market on a risk-adjusted basis, and we don't know anyone that does know either |
--Swedroe |
We assume that markets are efficient, that prices are right |
--Fama
Re: free dinner investing seminar
+1. We attended one of these just to see what it was like. The guy in charge kept reminding us that “he’s the one who bought our dinner.” Very arrogant and condescending. Even if we had wanted what he was selling, we wouldn’t have bought it from him. It was held in a private room in a very nice country club. He and his staff were strategically sitting at the only door, so we were a captive audience. Creepy. We’ll never attend another.
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Re: free dinner investing seminar
I guess we have have to disagree on what we sign on to.munemaker wrote: ↑Fri Feb 09, 2018 2:07 pmWhen someone buys me dinner, I am respectful and polite (while declining their pitch).Wildebeest wrote: ↑Wed Feb 07, 2018 8:57 pm ... I will get all reffed up to expose what I consider how the"attendees" are taking advantage of, while the "attendees" consider "Wildebeest" a jerk for asking the tough questions to the presenter, who just paid for dinner.
"Never bite the hand that feeds you."
I bite any hand ( and not only that, I am ready to rip their heads off and to expose them for the vultures they are) when I consider them to be morally wrong and trying to take advantage on my fellow prey animals.
May be I should go to these dinners, and alert the other wildebeests that there are lions and crocodiles and vultures waiting to feast on them.
The Golden Rule: One should treat others as one would like others to treat oneself.
Re: free dinner investing seminar
I'd skip going to one of these out of fear that my attendance would flag me as a "live body" ripe for a ton of follow-up calls, emails, and junk mail for the next decade. Not worth it if that happens.
Re: free dinner investing seminar
This was my concern, as well. Not that I would succumb to their dubious charms, but that, in RSVP-ing, I'd be giving them my name, address, phone number, and e-mail. My privacy is worth more than a steak dinner.
Re: free dinner investing seminar
Did she win the million dollars?gsmith wrote: ↑Wed Feb 07, 2018 9:58 pmSo i don't know if this counts, but this happened when I was 16.Wildebeest wrote: ↑Wed Feb 07, 2018 8:57 pm I have never been to any free dinner investing seminar. If your friend reports to his experience on Bogleheads , it will be my privilege to donate $100 to Bogleheads.
One day my mom gets a call from a telemarketer whishing her a happy mothers day, and they would like to celebrate her by giving her free popcorn and a chance to win a million dollars... for attending a timeshare presentation.
My father and (mostly) I try to beg her off, offering her anything else, but she was determined that this was what she wanted on her day.
So we drive to the middle of nowhere to a building that's pretending to be a cabin, and our assigned salesman is a former special-ed teacher, who is too kind to survive long in such an industry. He drives us around in his honda beater, while his associates chauffeured their marks in BMWs and Mercedes, wearing watches that could cost as much as their car payments.
- As he drives us to a model home, we can hear the kids screaming next door, as my father notices that the VCR is in a loop (they didn't have cable)
- He explains to us they can't legally sell us a timeshare here, as they're sold out, but they can in Texas and we can convert them into points.
- He explains that like the family memories, the timeshare can be deeded to children who would love the gift. (I, of course, swore there is no way in the world I would want to inherit this, and inquired about the maintenance fees, he said he'd have to get back to me.)
- My mother kept insisting we stay until the end so that we'd get our chance at a million dollars
- At the end, everyone was exhausted, as they dragged us into the closing room, a huge noisy room, with a bell they'd ring whenever someone would sign the mistake of a lifetime.
-The closer offered a timeshare $50,000 which they'd be happy to loan us.
- Having watched my more violent colleagues in HS at the time, I gave them an icy stare and twitch, indicating we did not wish to entertain such a venture.
- They eventually sent us to a trailer where my mom was given a scratch-off ticket for our 4 hours of hell.
- When we got home, we all agreed our existing home had more amenities than the timeshare and found a listing for the exact timeshare on Ebay for $30 with no offers... I declined to buy it.
- We looked up the ticker symbol they proudly displayed everywhere and found they had been delisted years ago and were under several investifations according to their most recent annual report.
- My father wanted to call the former special ed teacher turned timeshare salesman to warn him of the moral hazards of his new occupation, but alas they did not give out business cards
For the ashes of his fathers, And the temples of his gods. |
Pensions= 2X yearly expenses. Portfolio= 40X yearly expenses.
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Re: free dinner investing seminar
Not an "investment" presentation, but, well, I get the feeling it was similar.
We'd been married about a year and a half, and in Reno went to a timeshare sales pitch with the promise of “20 silver dollars” if we'd sit through a presentation.
The salesman was straight out of central casting circa 1981; mop of brown hair, tanned, top four buttons of his shirt undone showing chest hair and gold chain necklace, pants a size too tight. His “wife” (who was assisting the presentation) was a blond sporting heels and cleavage. After the presentation they came to each table and tried to sign us up. We had a net worth south of zero by five digits; though I had no idea what a “net worth” was I did know we didn't have diddly and there was no way we'd buy anything. Too meek/polite to say anything other than “we really can't afford it” though. He got aggressive. Really aggressive. Insultingly aggressive. Something like this:
“What have you done with your life? Look at me, a beautiful wife, and we vacation in exotic places every year. You're never going to amount to anything if you don't step up! This is your opportunity to own something!”
I was speechless. A 23 year old totally out of my league. Intimidated actually.
My wife however was not.
She laid into him with language I won't repeat. Between calling him names told him I was in school and would be more than he ever would be. And who did he think he was talking like that? He walked away without another word. We collected our $20 from a lackey, got back in the van and rode back into town.
Haven't gone to another presentation since.
We'd been married about a year and a half, and in Reno went to a timeshare sales pitch with the promise of “20 silver dollars” if we'd sit through a presentation.
The salesman was straight out of central casting circa 1981; mop of brown hair, tanned, top four buttons of his shirt undone showing chest hair and gold chain necklace, pants a size too tight. His “wife” (who was assisting the presentation) was a blond sporting heels and cleavage. After the presentation they came to each table and tried to sign us up. We had a net worth south of zero by five digits; though I had no idea what a “net worth” was I did know we didn't have diddly and there was no way we'd buy anything. Too meek/polite to say anything other than “we really can't afford it” though. He got aggressive. Really aggressive. Insultingly aggressive. Something like this:
“What have you done with your life? Look at me, a beautiful wife, and we vacation in exotic places every year. You're never going to amount to anything if you don't step up! This is your opportunity to own something!”
I was speechless. A 23 year old totally out of my league. Intimidated actually.
My wife however was not.
She laid into him with language I won't repeat. Between calling him names told him I was in school and would be more than he ever would be. And who did he think he was talking like that? He walked away without another word. We collected our $20 from a lackey, got back in the van and rode back into town.
Haven't gone to another presentation since.
Re: free dinner investing seminar
Good story, but I was expecting this ending:setnsettled wrote: ↑Sat Feb 10, 2018 1:41 am “What have you done with your life? Look at me, a beautiful wife, and we vacation in exotic places every year. You're never going to amount to anything if you don't step up! This is your opportunity to own something!”
I was speechless. A 23 year old totally out of my league. Intimidated actually.
My wife however was not.....
...she said: "Well, look at what you've done with your life! You're stuck here selling timeshares that no-one wants to buy. If they were that popular, you would be lying on a beach instead."
Re: free dinner investing seminar
Each year I would get (among all the other free dinner invitations) an invite to one of these events at a Ruth's Chris Steak House. It always seemed to come at the end of the year for January dates. One year I gave serious consideration to going because I wanted to try Ruth's Chris, just once. But after several days I tore up the invite. The next year I decided to go and RSVPd. Just so I could get the free dinner. Then, about a week ahead of the date, I got whacked with a mild case of Bell's Palsy. The facial paralysis meant I would not be able to chew a delicious steak. So I called and cancelled -- due to illness. I might have gone the next year, but the invitations stopped coming. Maybe that was a sign.
Re: free dinner investing seminar
I was talking to CapitalOne about something or other to do with my credit card, and the phone person mentioned she worked in the Heavy Spender group. They seriously call it that. I asked why, and she said, do you know most people don't charge nearly as much as you do? I had no idea. I probably charge $3000 a month, as I put everything possible on my charge card, including all the insurance, for the 1.5%, but I pay it off every month.beingmybest wrote: ↑Thu Feb 08, 2018 8:01 pmMost of the people reading this thread (HNW = High Net Worth)TIAX wrote: ↑Thu Feb 08, 2018 7:55 pmWhat's an "HNW platelicker"?flossy21 wrote: ↑Thu Feb 08, 2018 7:35 am If you want some idea of what to expect then check out this link...
http://www.wealthmanagement.com/forums/ ... l-seminars
This is a link to the forum for Registered Reps. Basically the Boglehead's nemesis. As you will see, if you attend and don't buy then you are labeled a "plate licker".
Good luck.
Re: free dinner investing seminar
1.5%? Switch to Citi double cash or Fidelity® Rewards Visa Signature® Card for 2%.mouses wrote: ↑Sat Feb 10, 2018 9:58 am I was talking to CapitalOne about something or other to do with my credit card, and the phone person mentioned she worked in the Heavy Spender group. They seriously call it that. I asked why, and she said, do you know most people don't charge nearly as much as you do? I had no idea. I probably charge $3000 a month, as I put everything possible on my charge card, including all the insurance, for the 1.5%, but I pay it off every month.
Re: free dinner investing seminar
Flossy,flossy21 wrote: ↑Thu Feb 08, 2018 7:35 am If you want some idea of what to expect then check out this link...
http://www.wealthmanagement.com/forums/ ... l-seminars
This is a link to the forum for Registered Reps. Basically the Boglehead's nemesis. As you will see, if you attend and don't buy then you are labeled a "plate licker".
Good luck.
That was one of the most interesting, and frightening, things I have come across since participating in bogleheads. Thanks!
I had never given any thought to the logic or logistics of holding these marketing seminars. I had never given any thought to the lives lead or work done by the people who sponsored them. Although I know the whole system is supported by the few poor suckers who buy whatever is on sale, I still feel sorry for people who have to resort to this to make a living. Of course, I also feel sorry for the clients who waste their money with these people.
You see, I just don't get this kind of thinking, but I am sure it is true. If it were not then the whole advertising industry would work very differently. Clearly there are enough people who care about the fanciness of the restaurant or the celebrity endorser to make these worth paying for.You have to understand that people who go to seminars often are going to a number of them. An event hosted at a desirable location where a meal is served will get a better response than one done on the cheap. The prospects will take notice and will judge a book by its cover. Therefore, if a competitor draws twice the crowd and clearly spends twice the money - perception will be that he's/she's in more demand, knows more and is better.
Note how absolutely nothing in this description has any relation to the the qualifications of the person giving the seminar or offering advice.
I am going to post this link in another thread where someone is recommending finding an estate planning lawyer through seminars. Not using the seminars for a few free dinners, mind you, but actually going to them as a strategy for finding a good attorney??!!
We don't know how to beat the market on a risk-adjusted basis, and we don't know anyone that does know either |
--Swedroe |
We assume that markets are efficient, that prices are right |
--Fama
Re: free dinner investing seminar
We have been to about 5 of these and of course they are free unless listening is too painful for you.You just have to listen to their presentation which can be interesting.Sometimes you learn something and most of the time you see through the bs if that is what it is.We only go if it is somewhere we want to eat.The best one I ever attended was about viaticals.The worst was the typical indexed annuity where you cannot lose money.
K.I.S.S........so easy to say so difficult to do.
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Re: free dinner investing seminar
I imagine most BH are and were wage earners and have never owned a business.
Any form of advertising and getting people through the door costs time and money.
Those who enter through the doorway, just a fraction of those will actually buy something.
Such is the nature of capitalism.
YMMV
Any form of advertising and getting people through the door costs time and money.
Those who enter through the doorway, just a fraction of those will actually buy something.
Such is the nature of capitalism.
YMMV
Rev012718; 4 Incm stream buckets: SS+pension; dfr'd GLWB VA & FI anntys, by time & $$ laddered; Discretionary; Rentals. LTCi. Own, not asset. Tax TBT%. Early SS. FundRatio (FR) >1.1 67/70yo
Re: free dinner investing seminar
afan wrote: ↑Sat Feb 10, 2018 3:44 pmFlossy,flossy21 wrote: ↑Thu Feb 08, 2018 7:35 am If you want some idea of what to expect then check out this link...
http://www.wealthmanagement.com/forums/ ... l-seminars
This is a link to the forum for Registered Reps. Basically the Boglehead's nemesis. As you will see, if you attend and don't buy then you are labeled a "plate licker".
Good luck.
That was one of the most interesting, and frightening, things I have come across since participating in bogleheads. Thanks!
I had never given any thought to the logic or logistics of holding these marketing seminars. I had never given any thought to the lives lead or work done by the people who sponsored them. Although I know the whole system is supported by the few poor suckers who buy whatever is on sale, I still feel sorry for people who have to resort to this to make a living. Of course, I also feel sorry for the clients who waste their money with these people.
You see, I just don't get this kind of thinking, but I am sure it is true. If it were not then the whole advertising industry would work very differently. Clearly there are enough people who care about the fanciness of the restaurant or the celebrity endorser to make these worth paying for.You have to understand that people who go to seminars often are going to a number of them. An event hosted at a desirable location where a meal is served will get a better response than one done on the cheap. The prospects will take notice and will judge a book by its cover. Therefore, if a competitor draws twice the crowd and clearly spends twice the money - perception will be that he's/she's in more demand, knows more and is better.
Note how absolutely nothing in this description has any relation to the the qualifications of the person giving the seminar or offering advice.
I am going to post this link in another thread where someone is recommending finding an estate planning lawyer through seminars. Not using the seminars for a few free dinners, mind you, but actually going to them as a strategy for finding a good attorney??!!
[/withdrawn
K.I.S.S........so easy to say so difficult to do.