“You can fool some of the people all of the time,
and all of the people some of the time,
but you cannot fool all of the people all of the time.”
- Abraham Lincoln

President Lincoln didn’t live in the information, advertising and propoganda age we inhabit. Everything from politicians to religious beliefs, hamburgers to health care, infant products to investments are presented to the public every day in one form or another and all are distorted to support the presenters’ aims.

If Abraham Lincoln spoke his famous line today - especially if he worked in the financial markets - it might go like this:

“Advertising and propoganda can fool many of the people all of the time,

and all of the people most of the time,

but it still can’t fool all of the people all of the time;

but don’t worry about it, the fines will be much less than the profits.”

This is especially true of financial products. Americans are bombarded daily with information, advertising and propoganda about new financial products and services. The Behemoths and their minions cleverly disguise sales pitches as planning strategies. The financial press follows the lead of the Wall Street Wonks and supports every ENRON type shibboleth as if it came directly from the Lord.

Here’s a case on point. Tom bought a hot new indexed universal life insurance contract. He was told that if he paid $20,000 a year into the contract for five years - $100,000 total - and then let the money grow for another five years he could expect to draw $18,000 per year from the policy for as long as he lived and the beneficiaries of his policy would still recieve the full death benefit when he died.

When this product was presented to Tom by a well known insurance and financial “advisor,” Tom bought it on faith. There was also a printed illustration from the insurance company that made the numbers look legitimate. Two years and $40,000 later Tom realized that the “advisor” exaggerated the earnings and possible income and at the same time gave little attention to the probability that the actual results would most likely fall way short those exaggerated claims.

This is not a case of “caveat emptor.” Sophisticated information, advertising and propoganda presented by a “professional” is readily believable and not so readily debunked by an untrained buyer. Tom was hoodwinked by a dishonest and unethical sales rep who cares more about the sale than the client.

“Trusted advisor” is a term that is claimed with about the same weight as “nice tie.” Americans need more than the claims of a well dressed salesman and a compliant illustration from a mutual fund or insurance company. If you want to dodge the “dodgers” then you need a way to measure and manage your money that lets YouBeTheBank and lets you control the money that flows through your life.

Here’s my first recommendation ever on this blog; find an INDEPENDENT advisor that is not bound to one of the Behemoths and who understands that keeping YOU in control of your money is the most important role of an advisor.

Of course, I always recomment that you buy my book so you know in depth what it means to be in control of your money in a way that lets YouBeTheBank –> www.TheMoneyForLifeBook.com

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