🔺 r/personalfinanceuPetraLoseIt·42 days ago
One of the tactics of the financial industry is scaring people to make sure they buy their financial products
I was listening to the HerMoney with Jean Chatzky podcast about finances, and the guest of episode 541 was a financial advisor working for LIMRA, an institution that provides research to support financial advisors/professionals. (They're paid by financial advisors/financial institutions and insurance companies). It was so blatantly obvious that they were trying to scare people into buying a (distributing) annuity. The gist, in short, was that "people have been told that a mix of stocks and bonds will get them through retirement just fine, but listen people, remember 2022 when both bonds and stocks did not do well? Conclusion: bonds are not safe anymore! I say you get yourself into a nice annuity instead of into bonds, to make sure your money last". So I would say: if you're listening to someone, remember who they work for and think about whether they want to sell you anything. submitted by /u/PetraLoseIt to r/personalfinance [link] [comments]