By David Treece
“Be not deceived; God is not mocked: for whatsoever a man soweth, that shall he also reap. For he that soweth to his flesh shall of the flesh reap corruption; but he that soweth to the Spirit shall of the Spirit reap life everlasting. And let us not be weary in well doing: for in due season we shall reap, if we faint not.”
Galatians 6:7-9 warns us to not be deceived, and the repercussions of deceiving other people. Also it demonstrates the outcome for those who live a life of integrity.
In our adolescence, we are often idealistic and hopeful that most people we interact with have our best interests at heart. But it only takes one or two people violating our trust for most people to reevaluate how they have thought about trustworthiness. Typically, the older we are the more examples of people being deceptive we can spout off from our experiences.
For those of us who always try to do the right thing it can make our lives more difficult, because some people may have developed trust issues and hold everyone at arm’s length. The sad caveat to this is some people may actually miss good things in life because they are unable to trust someone who has pure motives.
In our business of helping people prepare for retirement and save money, we run into issues of people being taken advantage of all the time. Granted, sometimes it’s an old advisor’s ineptitude but often it’s just the advisor looking out for their best interests above the client’s. On the home page of our website, one of our stated goals is to always put the client’s interests before ours.
Recently we helped a dear client who had inherited variable life insurance policies that were linked to the stock market. Her mother had cared enough to buy life insurance for her, but she had no idea that she could lose the coverage if the stock market collapsed too far. We see issues like this all the time and it’s heartbreaking.
Typically, a life insurance advisor can set up some type of policies where he will make the most amount of commission, but what the client does not understand is their life insurance coverage will eventually run out… Normally before they run out of life. Meaning: they will be older and sometimes unable to obtain life insurance due to the cost or because their health has changed, and now they have no coverage because a life insurance agent 20 or 30 years ago looked out for himself before the client. And you know that salesman will be nowhere to be found at that time. This is why it’s crucial to buy life insurance and to take your financial advice from someone who is not a flash in the pan. We have been in business for over 30 years.
At our November 1, 2016 seminar we will talk much more at length about other common areas where we have seen our clients and friends fall prey to deceptive tactics. We will have a lunch seminar and dinner seminar.
By David Treece