Full-timers --- are you planning for your future?
 

Do you have an investment/insurance broker?


Back in about the middle of 2000, my income from porn had really taken an upswing, from virtually nil in '99 to around $4k a month. ($4k a month US is a LOT here in Winnipeg, let me tell you). I got a cold-call from some guy wanting to talk about investing etc. Get this: his name..... "Webster Webb". How appropriate was that?

This guy has turned out to be a godsend.

He got me started by setting up what is called a "Challenger fund", a long-term investment that has a high rate of return and many great features for money management, features that come with it because there is a small life insurance policy attached to it. One of the perks is that, if you're ever sued by anyone including the government, this fund <i>CAN'T</i> be touched. It is exempt from a greedy spouse in a divorce situation as well. Not that those things worry me at this point, but they are well-received none the less.

He has set up funds for all the money accrued in a pension fund from my former hospital career, and has set me up with aggressive investments in addition to that.

Still I don't think I'm doing enough. But I'm wondering,.... how many of you have an "investment guy" that you're working with on your future? What is your long-term plan here? Since there is no "webmaster union" and no paid benefits or life insurance, no dental plan, no nothing.... are you still living paycheque to paycheque or are you investing in your future?

future? i'm still trying to plan this afternoon...

saving in a checking account with no interest,hehe

Oh, and one other thing to add..... My investment guy is now going to be doing my taxes as well. I am behind by 2 years right now, so he's going to be taking a week to get me caught up and filed up to 2002.



And no, he's not a shyster. He is part of a huge company that is well-known and respected in the industry, they are called "Sentinel Life", and have been around for many years.

You are an exceptional case my fren...

A good investment guy should be able to show you how to triple your earned interest on your money with no risk.

I'm going to invest in a sandwich this afternoon, that's about as far as i've got planned out.

i am always suspect at trusting "finanacial advisors", from large well-known firms just as much as the guy with a shingle at the strip-mall. These guys get commissions, trailer-fees...and I worry about their biases and investment philosophies.

Hasn't the last few years shown that analaysts, advisors, brokers...have all led millions down paths to ruin because everyone put their faith in these "experts"?

There is one guy I know that has talked albeit very peripherally about his investment portfolio and his financial plans implimented for his future. You all know him, you all love him, his name........ is [lebrat] the rat. I'm guessing that when he retires he will be living quite well.



The rest of you guys should start thinking in the long term.

I keep contributing to a 401k, that's mostly invested in money markets and bonds. It's nice to have some security.

It is very wise to be distrustful enough to check out anyone in this business. After all, they are being entrusted with your hard-earned money, thus your future. They had better be willing to jump through a few hoops to prove themselves to you, definitely.

Credentials are one thing, but it's only a start. "Proven track record" comes to mind..... I want to know how they've done for others, and I wanted proof. I also wanted to know what other financial people had to say about the company.


By the way.... I'm not necessarily talking about investing in commodities or the stock market. My investments, although aggressive, are still fairly low-risk. Most of the markets my money is in have returned 10 to 25% to investors over the past 20 years on average. I don't need a soothsayer here..... and neither do you. I needed a guy that knows the long-term investment market and could set me up with a solid future, period.


But good point hershie.

I don't like to save money. Makes me feel lazy. It's not like I ever plan to do manual labor and I love working on new ideas. If I'm 80 years old and not working on at least 3 projects simultaneously I'd probably jump into a volcano... I have some older friends that are inventing and producing all kinds of cool shit in their 70's... Why save money when you can invest in new business... new products, designs, domains, software, property, hardware, content, etc. I've got books full of unfinished ideas just waiting for investment -- and same with my friends... I'm producing all kinds of shit -- software, furniture/product designs, rap artists, novels, gallery spaces, and someday architecture... always researching new shit and jotting down and looking for new ideas... it's more entertaining than watching TV. The only security I need is Plan B, Plan C, and Plan D, meanwhile I'm working on E, F, G and thinking about H, I and J down the line.

Well it sounds like you have thought it out in advance and are looking at a number of alternatives besides just stocks/mutual funds.

Unfortunately, in Canada a majority of people go to a bank... to set up a mutual fund, where they are given some ridiculous form where you agree whether you are a conservative or agressive investor, The choice is broad and flawed to try to fit you into one of three huge categories that its of no value. Many advisors then lead you into investments they represent...(like some mutual fund dealers are affiliated with and can recommend only certain mutual fund companies)...Some end up getting you to follow the flavor of the week...My own mom was screwed by her broker at the largest brokerage in the country. She was 66 and her broker (no doubt looking for a quick commission) told her to buy AT&T just before its massive dive. She should be in the mode of protecting her assets from risk at that age not gambling with her retirement money and when I caught wind of this - he used the trump card that she signed a form saying she was an aggressive investor 15 years earlier when she first started to use him. Its these kind of situations that make me have a bad taste at following anyone's advice.

Some of you guys/girls know that I worked in investment bank..

So I keep my money in primary rated banks and a less portion re-invest to industry.

hi


my name is abdul salaam mohammed patel, son of the late saudi oil billionaire ahmed mustafa mohammed patel.

our family bank account worth $180,000,000,000 has been confiscated by the swiss government.......



:321GFY

I plan on being 80 years old and still living off Roger... do you think I need a better plan, CD?

Do you need some help in recovering it ? Please paypal me 5000.00 Euro and I will see what I can do:2 cents:

i am just stewed lately at my portfolio and strategies. I did most of my investing in the vacuum of the late 90's where you couldn't go wrong throwing it all at growth stocks and equity mutual funds. Well, boy am I experiencing a hangover from that party. To make matters worse are the 2.5% management fees the mutual funds i am in charge. Makes me sick. I get heartburn when I check my portfolio online. I decided to sit out the bear market as my funds were all back-end load so I would be paying penalties if I sold them before 7 years.

I can't think of a better plan. That roger is HOT........ uh, I mean solid.

financially speaking, I think. Yeah, I'll go with that. :( :thumbsup

oh how cute.... you have a crush on Roger!

I think I more or less envy him and his harem of lovelies.

Is he invested well?

I have no idea... he hasn't shared his portfolio with me as of late :) he just bought a lovely house in Tampa though!

Well, a house can be a good long-term investment. My own castle is an old French two-story, doesn't look like anything special, except that it is revenue property in a great location. The upper level is a nice 1-bedroom apartment that brings in $500 per month for me, which more than covers the mortgage payment.


Once I meet a nice gf and decide to move in with her, I will move out of here and rent out the bottom half as well. Oh, say hello to Carol when you see her.... I get the feeling she's back to being swamped again.

Yea, I am losing weight and getting ripped so if the day comes when I am totally broke, I can find a sugar mamma to fuck real good and be pampered :)

Hmm. You know, that sounds like a better future than doing this shit.

Mogul
Mogul Networks Inc.

:1orglaugh :1orglaugh :1orglaugh

key words:

invest in retirement homes,

think bout it

she is swamped. i will tell her you say hello and extend your invitation to her to move in! :)

Invest in the enterprise with the highest rate of return.

Example:

Your porn business: 100-500% per year for the next 48 months
Stocks: ??
Other Ventures: ??

So compare every potential investment to the investment with the highest return. Diversification will only lower your return...

sounds like you have a universal life insurance policy- the money actually can be touched unless you have a named close relative as a beneficary.
Even then there's a 7 year period where it's very ify if the money can be attacked if you get sued. After cash has been in an annuity (which is what the investment portionof a universal life policy is) for 7 years it's almost impossible to touch, but untill you hit that 7 year mark it's only slighty more secure than any other investment. Court judgements can attack income comming out of an annuity though. most universal policies have non-fixed insurance cost factors in them (YRT) - the will eat up any savings in them in later years. full or large withdrawls WILL (regardless of what your agent tells you) incurr tax problems too.

Sential life isn't one of the bigger companies in winnipeg or canada - they are a SMALL player to say the least. Last I heard they were just a small brokerage office in the city, but that was years ago.

just a sugestion, talk to a broker from GWL or manulife for a second opinion. they often tend to be a little more knowledgeable and deal with high end clients. Few to any do cold calls though - an agent who does is usually green or not very sucessful and often tricks people into buying stuff they don't need - like life insurance policies for savings needs. Personally I think seg funds are a much better way to go than universal life. - buy insurance for insurance - buy money prodcut for saving. Some agents talk a smooth talk but when you crunch the numbers you're better off with liquid cash 9/10 times. there are some applications for universal life insurance policies as savings tools, but unless your income is $150K+ a year you'll be WAY beter off with seg funds.

I don't know you specific situation, but I do have a clue about this kind of thing, I have a CFP and sold mutual funds and life insurance as a broker for 7 years before I got into this business. When I sold out I had 13 million under management. My average client's income was over $100K/year.

Please inform her that I am seriously looking into buying that cabin up north (in Sleazydream country).

Seriously.

I'm planning to rob all the people who actually planned for their future, when I run out of cash.

nope, I'm spending money like a drunken sailor.

I'm busy yeah but not too busy for you!! I am sorry I didnt write back yesterday but for hte record email form you is Anything BUT an interuption!!!

Sleazy, good post.

Sentinel has grown, they deal with many of the large players, one of which is TransAmerica Life. Huge.


Money in that Challenger fund doesn't have to be touched though. It is safe. The return is, well, I'm happy with it so far. I'm invested aggressively, but not TOO aggressively.

You're right about the period of time where the money isn't totally protected/sheltered, but that is in place for a reason. Some guys try to "hide" funds in such an account the second they are in jeapardy, and courts tend to frown on that. So yeah, you better off to have your money in there long-term. My fund has been in existance for over 2 years now, and my rep at Transamerica tells me that they would fight to protect my interests on my behalf. I'm told that 5 years is the generally accepted period.



Btw, if you built up a base of over $13 mil in client investments, why would you walk away from that? I told my investment guy the part about "My average client's income was over $100K/year." and he laughed. It was a big genuine belly laugh.

You always manage to give me a warm fuzzy feeling :D

I was looking at the notice board in the office today and asking who we were shooting tomorrow, Thursday.

I don't even know what day it is. Senility.

I married my future investment.

Ya, bullshit. I can't see a guy like you NOT having a swell investment portfolio.

I'm on the phone with my investment guy (Webster) as I type, I just read him your post...... and he says "Some of the people in this business should be in jail, period" :BangBang:

There is good an bad people in every industry, including this one. (the investment advisory biz). Everyone should be careful of whom they deal with, no question. Sleazy has a good point about getting a second opinion as well, if only for verification purposes.

Sorry to hear about your mom hershie. I hope you were able to help her recover from that loss.

"By the way.... I'm not necessarily talking about investing in commodities or the stock market. My investments, although aggressive, are still fairly low-risk. Most of the markets my money is in have returned 10 to 25% to investors over the past 20 years on average. I don't need a soothsayer here..... and neither do you. I needed a guy that knows the long-term investment market and could set me up with a solid future, period. "


10-25% on average over the last 20 years AND low risk AND not stocks or commodities. Care to share what kind of investments they are? Sounds a little too good to be true.

thanks for the kind sentiments. Many people in the industry are or are on their way to prison for their reckless actions. There are all the celebrity cases like the wall street anaylsts (Jack Grubman...who were indicted when evidence turned up that they were recommending stocks to the firm's brokers when they were saying in proivate emails that the stocks were dogs and they recommended them to win investment banking biz...), Lots of these are going on presently and Citiigroup just payed $1 billion to settle with the SEC and NY state Att'y General on bogus stock recommendations..

I just read a few minutes ago over lunch in this week's Fortune magazine abouta Wall Street firm - Gruntal that recently declared bancruptcy and was so crooked that they pushed product onto clients in the same mannr as what happened to my mom.

Last week I read a story in Business Week magazine about an A.G. Edwards broker that bancrupted hundreds of people in a rural Georgia community as they entrusted him with their retirement money...

The tales of woe are endless. Who do you trust - they are all sharp talkers...who's BS'ing you and who has your best intentions in play?