Mature Life Features

. . .”How’s your day going?”,

I give them the only factual answer I know:

“With the rotation of the earth.”

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Investors Need to

Wade Through Lies

A report released a few years ago revealed that a majority of financial planners lie about their method of payment when questioned by clients and prospects. That’s not surprising. What’s surprising is that a survey, conducted by the National Association of Personal Financial Advisors (NAPFA), had to be taken in the first place.

People lie, whether they’re financial planners, teachers, police officers, neighbors, bosses, merchants, politicians, salesclerks, mechanics, butchers, bakers or candlestick makers. Three days into my first job as a daily newspaper reporter, my city editor told me, “People out there are paid to lie to you.”

Now that you realize financial consultants, like the rest of us, toy with the truth, you might want to focus more personal efforts on your own financial future. It’s up to you to machete your own way through the financial jungle out there

A simple first step is to learn how to recognize a bad investment. There have always been fraudulent high-flying can’t-miss investment schemes since before the stock market erupted on the scene.

Be wary of any outfit claiming to offer a break-through product or service that will topple the big guys, such as AT&T or General Motors. An especially flagrant “beware” sign should also be envisioned when a company applauding its success, or successes, has just switched industries. A successful skateboard company may not be able to produce pet food profitably.

Walk away from investment opportunities that offer “golden sunsets” because of major contracts and alliances, none of which are identified, especially if a strategic linkage announced previously had to be retracted. Remember: if I let you use my telephone, I can claim that I have formed an alliance with AT&T to provide you that service.