9% Return? Scam?

[Dicast]

I've been driving around the Dallas area and hearing a lot of commercials about a guaranteed 9% return from a group call Texas First Financial.  I almost hesitate to bring it up at all because I'm almost sure it is a scam.  Has anyone worked with this company or know what they actually invest in?

 

[Zaphod]

Website looks shady, book title appealing to fear and biases. Looks scammy, probably some kind of Ponzi. However, if you get in early it can go great, you just dont want to be at the tail end of the scheme.  

[Hatton]

Agreed it sounds shady.  No one can "guarantee" a 9% return.  I hear on the radio where I live constant ads from someone guaranteeing a modest return no matter what the stock market does.  I assume it is an ad from an equity indexed annuity.

[jfoxcpacfp]

Probably not scam, probably not Ponzi. Probably some really creative math involved in coming up with the 9% and lots of fine print in the contract. As hatton1 said, nobody can guarantee a 9% return.

[AlexxT]

I agree that it's most likely an indexed annuity, or a deferred annuity of some kind.

[Zaphod]

Agree its likely an insurance thing, and dollar for dollar back return does suggest return of principle. Still a scam as it banks on ignorance of the buyer and a little fear to sell.

[AlexxT]

OK, I stepped up and took one for the team.  I went to the website, which says that they are investment advisers and the principal is a "wealth adviser".  I downloaded the free chapter of his book.  It's  a chapter railing against indexed annuities, and warning about the nefarious insurance salesmen.  However, the title of the chapter is "Annuities, the good, the bad, and the ugly".  Based on that, my guess is that the 9% is from a non-indexed annuity.

Anyway, I'll get my 9% ( ok, maybe 7%) the old-fashioned way, from index funds.

[Hatton]

Thanks for taking one for the team.  I went to the site but did not download anything.

[YYjames]

Don't know if they are shysters or not but...

Scoffing at 9% return as scam ? This is the crowd think here? Horrible

It's like a Pavlov dog training - "don't expect more than 5% rinse and repeat x 1000" why cuz the "fearless" leader of this follow the heard monkey see monkey do says so?

Whatever. I am better off not coming to this board. So dumb.

[AlexxT]

YYjames wrote:

Scoffing at 9% return as scam ? This is the crowd think here? Horrible

Click to expand...

OK, you show me a 9% guaranteed return.  Emphasis on guaranteed, with no risk of default.

[YYjames]

Nothing is GUARENTEED in life.

Not life. Hence the adage.

Does that mean you shouldn't experiment or take risks ?

[AlexxT]

YYjames wrote:

Nothing is GUARENTEED in life. Not life. Hence the adage. Does that mean you shouldn’t experiment or take risks ?

Click to expand...

You seem to have a problem with reading comprehension and logical thinking.

The ad we referred to said they offered a guaranteed 9% return.  We are skeptical of a 9% guarantee.

You say we are "dumb" and "horrible" for doubting this 9% guaranteed return,  yet here you are saying that nothing is guaranteed.

So which is it?

 

YYjames wrote:

Whatever. I am better off not coming to this board. So dumb

Click to expand...

Sounds like a great plan.

[YYjames]

Thanks again for the grammar lesson

The headline says 9% return. Not guaranteed return. I am criticizing the thought that 9% cannot be achieved. That is the underlying thinking I get around these parts. People eye consistent 9%+ returns as suspicious.

No one can guarantee anything but reasonable risks can ensure - yes guarantee - such returns long term. Consistent returns can be achieved. Whether its through small business, real estate or something that is not the market only approach.

Clear for you yet? Or should I pay an oxford professor to script it here?

But you are correct. Why waste my time arguing. I am illogical, because its either this fixed way of thinking or doing things or you are a shyster. May be someone should try to understand the other party and get off their high horse. May be that group is doing legitimate stuff? Because I have seen people achieve such results for 10+ years. They are my neighbors etc etc.

And what guaranteed or non-guaranteed way do you have? Its not guaranteed, so then why should I follow your way? Why can't this groups way be better than yours? I much rather try and be aggressive than rely on the stock market. That is the essence I am trying to convey here.

By the way, if you are in USA, you may see patients who don't speak English well, you tell them the same thing Alex, that you have comprehension difficulties -> go take TOEFL?

[Dicast]

The radio ad are promoting a guaranteed 9%. I just cant see how they can keep pushing this stuff when no one else can even guarantee anything close.

[DMFA]

Dicast wrote:

I’ve been driving around the Dallas area and hearing a lot of commercials about a guaranteed 9% return from a group call Texas First Financial.  I almost hesitate to bring it up at all because I’m almost sure it is a scam.  Has anyone worked with this company or know what they actually invest in?

 

Click to expand...

Bolded/italicized/redded (word?  maybe I need ESL?) to clear it up for the person who wanted to be a ************************ about it.

Let me go put the button eyes back on my straw man...