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Info Seeker
Posts: 1
Registered: ‎05-31-2013

Re: 26(f) program

Message 1 of 11 (8,826 Views)

Yet another link that does not work.  I think as others do, 26(f) is a scam. 

Info Seeker
Posts: 1
Registered: ‎03-27-2017

Re: 26(f) program

Message 2 of 11 (18,801 Views)

Money Master the game by Tony Robbins is a good book! That you can count on.

You don't even have to buy it you can check it out at the library.

Trusted Social Butterfly
Posts: 6,792
Registered: ‎02-14-2008

Re: 26(f) program

Message 3 of 11 (20,369 Views)

"....Anyone who advises people to trust AARP for investment advice is touting a scam....".

 

Where is AARP endorsing a 26f plan?


“The world is a book. Those who do not travel read only one page.”
Info Seeker
Posts: 2
Registered: ‎04-28-2015

Re: 26(f) program

Message 4 of 11 (20,553 Views)

Anyone who advises people to trust AARP for investment advice is touting a scam. 26(f) programs are ponzi schemes where only the person driving the car makes money and everyone else is left living on Social Security the rest of their lives. 

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Info Seeker
Posts: 1
Registered: ‎03-09-2017

Re: 26(f) program

Message 5 of 11 (27,936 Views)

As "d457345c" points out, 26(f) is neither new nor a scam. However, the fearmongering techniques and inability to call a duck a duck in the fairly recent ad campaigns is, in my opinion, enough to place this topic in the right location (scams and fraud) here. The mysterious 26(f) pertains to US Code 26 Subtitle F -- and why people selling insurance can't just come out saying "Hey, take a look at this. It might be good for you.", will never cease to blow my mind.

 

A working link to the broken one "d457345c" offered below can be found by searching <liberty investor enroll 26(f)> but it's just more of the same.

 

If you want a decent read, do another search on <gumshoe explaining 26(f) programs> and you'll get a bit of clarity. (Or search <US Code 26 Subtitle F> if you want to reade the legalese...)

Info Seeker
Posts: 1
Registered: ‎07-27-2010

Re: 26(f) program

Message 6 of 11 (29,642 Views)

Your link to further information does not work.

Conversationalist
Posts: 12
Registered: ‎07-17-2011

Re: 26(f) program

Message 7 of 11 (49,425 Views)

The 29(f) term is being used in scare tactic ads touting April 10, 2017 as an investment blackout date.  April 10 was the date the Fiduciary Rule was supposed to go into affect.  The rule is that financial advisors have a ficuciary responsibility to do what is in the best interest of their clients.

However, some advisors that publish newletters are using the term "29(f)" as a scare tactic to get people to subscribe to their newletter at a $40-$80/year price with promises of guiding them through this "investing blackout" with their expert advice.  One of those investments is a self-funded, complicated whole life insurance policy that allows you to "borrow" against it in retirement and since it's your money, you don't have to pay it back but it has fees for the person who sells it to you.  It's another case of a lot of hype to part you from some of your money in the guise of helping you.

You need to read the dialogue carefully, if you really want to waste your time.  One of the ads states that PNC Bank stock only went up a paltry 1.69% but a 29(f) program tied to PNC beat that return by 1351%.  Well, a 1351% increase of 1.69% is 21.9%, which wouldn't be an unusual return for a mutual fund which happens to own some PNC during a bull run.

Info Seeker
Posts: 1
Registered: ‎02-22-2017

Re: 26(f) program

Message 8 of 11 (51,236 Views)

It's good to be cautious, however, instead of running around like chicken little & thinking the sky is falling, why not do the research for yourself. The program you mention (26f) is not something new nor is it a scam.  I will provide an article & you can take it from there & do more research.

http://libertyinvestor.com/how-do-i-enroll-in-26f-investments/ 

 

I hope this helps you.  My other bit of advice is to either use AARP go to help plan for your retirement or find a broker that your friends/family recommend & leave retirement planning to them.  Make sure you go in with all of your questions.  If you decided to pick a broker to handle your retirement, make sure that you follow up with them & you are given periodic statements. Thoroughly review your statements & be aware of how they are handling your money.  Are they investing in stocks or bonds?  If your IRA is not increasing as fast as you thought it would, find someone who knows about IRA & get their opinion.  If you feel you are being scammed, don't feel guilty - it's your money & you have to ensure that the money will be there when you retire.

Treasured Social Butterfly
Posts: 19,126
Registered: ‎12-25-2011

Re: 26(f) program

Message 9 of 11 (52,232 Views)

From what little I've read, this sounds like one of the many "special programs" an investment group set up, that works like a mutual fund, but where the allegedly high-performing mix of investments is so closely held, that investors don't even know what stocks or other investments are in it .. like a "proprietary blend". Of course it's publicized as performing better than any index. It kind of sounds like Bernard Madoff, but I didn't see enough details to know if it's legit or not.


Registered on Online Community since 2007!
Trusted Social Butterfly
Posts: 6,792
Registered: ‎02-14-2008

Re: 26(f) program

Message 10 of 11 (52,328 Views)

Please post this in the 'Scams and Fraud' section. If you would, please explain why it is a scam.


“The world is a book. Those who do not travel read only one page.”