Television is a great teacher.  So is the internet.  That’s only true, however, if you pay close attention to the advertising and not the shows that are supported by advertising.  Advertising costs money. Lots of money.  Businesses that can afford extensive TV and internet advertising need to be making lots of money.  Advertising also tells you what’s at the front of the minds of Americans.

Here’s a few of the general business catagories that are currently spending millions - probably billions collectively - on TV and internet ads:

• Credit repair
• Credit negotiation
• Credit watch
• Bankruptcy
• Tax mitigation
• Class action law suits
• Auto insurance
• Life insurance
• Investments
• Sham WOW! [just threw that in for the fun of it]

Of these, life insurance and investment ads bear special meaning for me.  For almost 40 years, I’ve been helping people understand their alternatives when considering insurance and investment decisions.

During those almost 40 years I have studied economics, insurance, investments, and all of the topics that insurance and investment advisors must study to earn and keep their licenses, registrations, and appointments.  I have also studied the various selling strategies that insurance companies and investment houses use to entice you to buy their products.

It’s important to remember that these companies are selling products.   The products are packaged as “peace of mind,” “wealth creation,” “future security,” “best savings account,” or “concern for your family.”  They are still products.

When you follow a link or respond to an ad that points you to a web-site or a toll free number for advice and guidance, be aware that the company sponsoring the ad wants to sell you their products: life insurance, mutual funds, investment advice [yes, advice is a product whether you pay for it by means of fees or by means of commissions].

Often the web sites contain “calculators” that are supposed to help you arrive at a decision, while the advisor on the other end of the toll free number claims to aim at the same thing.  Putting aside good intentions - paving material for a very unsavory place - the result of these calculations and advice will always be the same: “Buy my product.”

The product that the site or the advisor recommends may or may not be your best choice. 

• My expectation, based on experience, is that it is not even close to your best choice.
• My advice, based on experience, is that you find an experienced advisor that is not affiliated with just one company and that does not ascribe to conventional wisdom - doing what the rest of the industry does because that’s what the rest of the industry does.

Very often your best choice is not goin to be a product at all.  Rather, it is going to be a change in your approach to creating and managing your personal economy and your personal wealth; changing your mind about money.

By Jeffrey Reeves

www.youBEthebank.com

Filed under: Ethics and Morals, Money, Personal Economy, Uncategorized, credit, economics, economy, infinite banking, insurance companies, investing, investment advisors, investment decisions, investments, Money, mutual funds investment, saving, savings, Taxes, wealth creation