(A reminder: The titles of these posts are financial myths. Unless otherwise stated, they are MYTHS.)
This latest Myth is the title of an AARP blog by corporate-sellout hack, Allan Roth, whose main purpose seems to be to attract bankster advertising and products rather than protect his readers’ finances. Although I’m a member I have to say AARP is, after all, little more than a giant marketing organization promoting apparently very profitable but second rate products, services & information.
To their credit, AARP offers this caveat in Mr. Roth’s bio: His contributions aren’t meant to convey specific investment advice. But guess what. Individual readers do take his baseless claims as individual and specific advice. They take it to heart and it affects their actions. That’s human nature.
In this latest post Roth can’t even seem to make up his own mind: Yes, insurance is good for protecting “valuable assets, such as your car or your home”. But it is not good for protecting other more valuable assets like your income, bank accounts, IRA or retirement savings. Huh? Can you spell FDIC?
The truth is, for holistic fiduciary advisers who take the time to know their clients and examine their futures from now to the ends of their lives, Insurance and Investing always mix. ALWAYS.
The reason is that risk management (aka “insurance”) is always appropriate in some form, whether it involves actual insurance company products, or, tax/volatility/interest rate management in a portfolio.
As a holistic, fiduciary, Oregon-registered investment adviser I am concerned with reality. I focus on what is best for each client, not on what makes good bumper stickers. Check any adviser out at http://bit.ly/1gIOqzu I’m there. You’ll notice Allan Roth is not.