Thursday, March 14, 2013
Should Teachers Be Wary of Former Truck Drivers?
You may not know it, but Mark Miller, a former truck driver (pictured above) is purported to have "...made more in commissions in a month than he made driving a truck for over 2 years. Now he only works 20 hours a week." Or so the advertisement for this annuity sales system would lead you to believe.
Whether Mark is real or not is beside the point, any product that can produce such big commissions in such a short period of time is likely not a great choice for your retirement.
I'm not saying all annuities are bad, in fact some are quite advantageous and I often recommend them to my clients (of course they don't pay commissions, have no surrender periods and no surrender charges...and are low in cost if of the variable type). The majority of annuities I come across are not very good and in some cases are extremely detrimental to your financial health.
If you see this former truck driver roaming your halls (don't worry, the odds are low as he only works 20 hours a week) it might be wise to close your door and lock it.
Scott Dauenhauer, CFP, MSFP, AIF
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