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Humor: Some “Expert” Advice
By JLP | February 21, 2008
I received the following email from a PR person for a personal finance expert I had never heard of before. Here’s the email (I’m leaving off the “expert’s” name because I don’t want to embarrass him):
Personal finance expert A. K. suggests putting as much as you can into your retirement plan. K., who is also the founder of SomeWebsite.com advises to put everything you can into these plans, whether an IRA, 401(k), 403(b) or other tax-advantaged retirement vehicle.
Here are some of the benefits:
You get a tax deduction today, which means an instant rate of return at your effective tax rate. So taxed at rate of 20% for example, you actually get a 20% return just for investing in your future. Your money grows tax-advantaged. Whether you use a Traditional IRA or a Roth IRA, your money is growing and you are not paying taxes. So every dollar earned you get your effective rate REINVESTED and it compounds instead of paying that money to Uncle Sam. If you are in a retirement plan with a match (like a 401k) then every “matched” dollar equals 100% return, before you invest. Many of these plans are automatic and are not high maintenance on your part, K. explains. Just make sure you rebalance your portfolio and review your investment strategy at least once a year.
“Who is the ideal candidate? Anyone with earned income,” K. says.
I don’t know about you but I found this kind of humorous. I don’t know a PF blogger out there who doesn’t already know this stuff. If I were A. K., I think I would have a talk with his PR person to see if they couldn’t come up with a little more intriguing PR campaign.
Topics: Humor |
February 21st, 2008 at 3:45 pm
How about a moronic PR campaign for the 401K industry:
If you’re a 401K provider, you should make a list of your clients names.
You should make a copy of the list in case you lose the original.
You should invest your money in something that makes money for your client.
If your client wants their money invested in some way, you should do that for them.
Oh wait, that last point turned into a Supreme Court case. I guess some people DO need the basics.
February 21st, 2008 at 5:07 pm
For ordinary people, that might be an ok campaign. No splash, no pizzaz. But if he’s trying to get it published on your blog. Yeah. Nothing you haven’t said before and better.
February 21st, 2008 at 6:45 pm
I hope you replied to the PR person that you found a way to incorporate the information into a blog post.
February 21st, 2008 at 6:51 pm
Dylan,
Nah. I’m too nice to rub it in like that. The email just struck me as funny because it was worded as if it was advice that had just been discovered.
Mrs. Micah said:
“For ordinary people, that might be an ok campaign. No splash, no pizzaz. But if he’s trying to get it published on your blog. Yeah. Nothing you haven’t said before and better.”
Ernesto,
LOL! I’ve gotten those types of emails too.
That’s very nice of you to say.
February 22nd, 2008 at 10:28 am
I didn’t intend that as rubbing it in, as much as a lesson learned.
February 26th, 2008 at 8:14 am
Ernesto - I thought you were quoting the SNL sketch about Grayson Moorhead Securities (fictional commercial). Sorry I can only find a transcript of the ad:
http://www.faqs.org/faqs/tv/sat-night-live/commercials/