| PRIMERICA: Ok route to go? |
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Joe P
First Time Poster
Cash: $ 0.25
Posts: 1
Joined: 02 Jan 2005
Location: Grand Rapids, MI
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| PRIMERICA: Ok route to go? |
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I've been investing through a Primerica rep for almost a year now and am not sure that I am doing the right thing...  Is Primerica reputable? It seemed that way when it was presented to me...
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Sun Jan 02, 2005 10:21 pm |
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xboxundone
Senior Member
Cash: $ 67.83
Posts: 795
Joined: 19 Sep 2004
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do they have website? and what are you using them for mutual funds retirement stocks?? I have never heard of them...
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Sun Jan 02, 2005 10:31 pm |
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BlankenshipFP
Money Talk Advisor
Cash: $ 79.56
Posts: 390
Joined: 05 Oct 2004
Location: Illinois
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There are lots of questions that you can ask to determine whether your relationship with your broker or advisor is "working" for you:
1. Are you better off with or without the relationship? Are there things that the advisor or broker does for you that you could not do yourself?
2. Are there alternatives to the relationship?
3. Is this broker or advisor charging you by commission? If so, are the investing decisions being made in your best interest?
4. What are the costs of this relationship? Are there alternatives that are less costly?
5. Have you sought a second opinion on the advice that your advisor or broker gives you?
These are just a few off the top of my head. In the end result, the first question is probably the most important - because many folks need *someone* to help hold them accountable and keep them from using emotion to drive their decisions.
Hope this helps -
Jim Blankenship, CFP�, EA
Blankenship Financial Planning, Ltd.
www.BlankenshipFinancial.com
Standard IRS Circular 230 Notice Applies
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Mon Jan 03, 2005 12:42 pm |
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LottomagicZ4941
Senior Member
Cash: $ 1.66
Posts: 2633
Joined: 02 Dec 2004
Location: Earth
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Prime America is big on trying to get people to quit their jobs and sell their over priced stuff to family and friends.
They are basically MLM insurance. Although technically most insurance companies are a bit MLM. Most are not as liberal in who they will hire as Prime America.
Buy term and invest the rest. Was started by them.
They tend to call cash value trash value. And with aids most whole life products will not return what was estimated. I perfer cash to life insurance so I sock as much as I can into the 401K. I should probably sock some more in the Universal so that I am not purchacing as much insurance. But if I do die what I sock in gets taken by the life insurance company. Though I could have chosen to have an increasing amount of coverage. I kicked a grand into the thing a year ago just to make sure the thing will stay in force for years and years. Perhpas if intrest rates go up it will be self funded.
I know several people who started out with Prime America and are now representing other companies.
They use to be AL Williams. His dad died and he felt that his dad should have had a cheap term policy that gave more coverage to the family.
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Tue Jan 04, 2005 1:24 am |
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