Anybody ever go to a "wealth seminar"?

[ckissick]

I always hear these radio adds about wealth building programs, either seminars or tapes, and wonder if they are just snake oil or not. They are usually based on real estate or the stock market.

Anybody ever go to one of these seminars or check out the program? I mean, they always feature some guy who used to be a bagger at Safeway and after 3 months he owns 5 houses and a "Porsh".

[Moneyguy1]

Go. Leave your credit cards and cash home. Turn off your emotions and do not let the responses of other attendees influence you (some are plants). Never sign anything at the presentation.

"When something looks too good to be true, it usually is".

[notfarnow]

"Wealth seminar" sounds like Primerica, which is Amway minus the soap & tiolet paper. Term life insurance instead.

A few years ago, I got tricked into a "job interview" that ended up being a 3 person Primerica tag team. It was kinda funny actually... the more I resisted, the more bizarre their tactics became. They ended up calling the "boss", who is SO RICH, on his YACHT in THE KEYS. Then they handed me the phone so he could convince me that I was throwing away an amazing opportunity. Funny stuff.

I used to date a girl who's father was BIG into Amway. It was non-stop pitches. He's ask me to help out with something at the cottage, and instead I'd get an hour long pitch on the way up, and then ragged out on the way home for not "wanting success". Sometimes he'd play the motivatioal tapes as we drove.... some of them were pretty amazing and actually interesting from a brainwashing perspective. I remember one about how important it was, as a LEADER, to maintain the IMAGE OF SUCCESS.

Anyway, he's into Primerica now.

[Scooter]

Do a Google search for "Wade Cook". Your question may be answered after your search.

[Moneyguy1]

Someone once said the Carlton Sheets and the rest are the only ones who actually get rich on these programs. I believe it.

[notfarnow]

Originally Posted by Wayne at Pelican Parts

I recommend an independent, certified financial planner. Mine is a former CPA, and drives a 10-year old Honda, even though he can most likely afford a "porsh". These are the conservative type of people you want managing your money.

Mine drives a 9 year old Acura. Should I change???

He pisses me off anyway, he keeps telling me to put my bonus money into RRSPs instead of buying a Porsche. What kind of advice is that?!?

[craigster59]

I'm with "notfarnow" on this one. The least they will try to let you walk away with is an insurance policy. They'll try to get you into "funds" with a spread sheet based on 15% interest, even though the fund isn't paying enough to cover the "maintenance fees" and commissions. It's always a 'lose/lose" situation for you, unless of course you join "the team" and give them a list of friends and family that they can help you annoy.

Remember, the definition of Amway is "A garage full of soap and no friends."

[notfarnow]

Originally Posted by craigster59

Remember, the definition of Amway is "A garage full of soap and no friends."

LOL!!!!!

[stomachmonkey]

Originally Posted by notfarnow

"Wealth seminar" sounds like Primerica, which is Amway minus the soap & tiolet paper. Term life insurance instead.

A few years ago, I got tricked into a "job interview" that ended up being a 3 person Primerica tag team. It was kinda funny actually, the more I resisted the more bizarre their tactics became. They ended up calling the "boss", who is SO RICH, on his YACHT in THE KEYS. Then they handed me the phone so he could convince me that I was throwing away an amazing opportunity. Funny stuff.

Same thing happened to me when I was 20ish.

Used to do some freelance work for an IT consulting co that shared office space with one of these types of outfits. They were pushing mineral supplements.

I'd go by the office and the guy would have a "seminar" going on that evening.

You walk around and there would be Xerox copies of checks for thousands of $'s lying in very conspicous places, on the copy machine output tray, on the reception desk, etc...

Total scam. As already mentioned, the biggest money makers in these things are the people HOSTING the event, not the attendees.

[LeeH]

If the info in these seminars was so great, why would they share the info? The idea that there's a giant "money machine" and this person/group/company is going to teach you how to run it is just nuts. Yeah, it may work for a handful of people, but most won't ever read the overpriced books or listen to the CDs that they bought at the seminar.

[widgeon13]

You go and you make them wealthy...........



Any other questions?

[Moses]

Originally Posted by craigster59

Remember, the definition of Amway is "A garage full of soap and no friends."

That's great! A few years ago a drug company sent me a card to fill out to get a free white coat with custom embroidery on the pocket. I rarely wear a white coat but I filled out the card anyway. Under my name, they embroidered "Ask me about AMWAY!"

Patients loved it. Hospital administrators cringed.

[ejames19]

Actually have a friend who did/is doing really well with Primerica. He was smart, never bought into the mindless push push for new people, he just used their financial products to help families on track and if he liked one of his clients he would just let them know very discretely if they were looking for something to do on the side or a career change give him a call. That was it. Let your work do the talking I guess. Anyway does anybody remember Tommy Vu.? "Come to my Seminar" loved the girls all over the boat.....Is that the same Tommy Vu who is now a pro poker player????

[ckissick]

Thanks, everyone. That's what I thought. Just though I'd ask.

My wife had a married couple as jewelry customers who were super friendly, and they asked us to dinner at their house. We went, and got an earful for 2 hours on some sort of Amway-type deal. We didn't know they were into this thing, and were just expecting a pleasant dinner party. It was very strange.

But what the made the evening particularly surreal was their 10-year old son with no arms or legs. I kid you not. He got around by writhing and rolling his body. No wheelchair. We didn't know about him, and they introduced him with great enthusiasm and pride. Which is all well and good, they should love him and not keep him cloistered away somewhere. I would have been happy to meet their poor son in a normal situation. But to sit on their couch, listening to their unanticipated high-energy sales pitch while their kid rolled around the house... I thought I was in the Twilight Zone.

We said "No" to their sales pitch and never heard from them again.

[cantdrv55]

I went to one. Didn't buy any products or training there but I did find them on eBay. Check out craigslist too.

[Rot 911]

Charlie, I am sure I am going straight to hell, but I laughed my ass off at your description of the kid!

[the]

The mailing lists created by those wealth seminars are gold mines. Lists of the gullible and desperate, every marketers dream.

[grudk]

My favorite radio ad is one for a real estate seminar -- they say you will be tought how to 'live in a wealth cycle and stay in one'

Genius

P.T. Barnum was right. No shortage of suckers in today's America

[motion]

These stories are busting me up, lol.

[GDSOB]

My ex-partner is on the lecture circuit as the "Mobile Home Millionaire"...