I am writing this Blog to help others to avoid my financial mistakes.
Specifically I’m strongly advising you to avoid -titled “financial advisor” Kindra Sailers, Founder and CEO of Best Interest Financial & Insurance Solutions Inc. http://bestinterestfinancial.com and Security Benefit Annuities https://www.securitybenefit.com.
The years between 2013- 2015 were very difficult for me. My job of sixteen years was over, my marriage was over, my friends had moved, I had no place to live and my mother was dying. I cared for my mother, but when she died the family broke apart. It’s sad, but not uncommon.
My sister introduced Ms. Sailers to me after my mother died. She had bought an annuity from Mrs. Sailers and had been given a big signing bonus. Later, after my problems she discovered it was a bad deal, but that’s a side issue.
I inherited a little money from my mother, and also had a mix of investments including IRAs, mutual funds, and cash.
Most of my money was tax-free and penalty free. Now it’s not.
Ms. Sailers sells annuities, which, in my opinion, and according to the three Certified Financial Planners I have talked to, are very beneficial for her and very bad for the investor.
She invested all of my tax free- penalty money in annuities with heavy penalties and taxes and no growth.
My fault for trusting her – for not doing are research – but that’t why I sharing the info.
Ms. Sailers has a 65 Securities License. That means passing one exam.
Even hair dressers take a 9 month course.
These programs take a few hours, or at most two days. In other words, Ms. Sailers graduated from the class of three o’clock.
I was not wise. Ms. Sailers completely convinced me she was my friend and could invest my money so that I could get a monthly income, which would increase and was safe.
Ms. Sailers told me that, if I should need it, most of my money was in “liquid cash.”
When I tried to access my money, Mrs. Sailors said, “I said that was what you have to pull from, not what you can take.”
My advice is, don’t let someone with only a single license plan your retirement or invest your money
There are good insurance agents in your community. A few of them do offer a wide assortment of investment products. Most don’t. The same could be said of stockbrokers who are generally selling stocks and not doing planning.
If you want a planner, you need to find a CFP – certified financial planner or a ChFC – Chartered Financial Consultant. They are trained to help you make the best investment decisions.
The best is a CFP or ChFC who is also a RIA – registered investment advisor.
The “alphabet soup” of financial credentials and confusing terminology such as fee-only vs fee-based (sounds similar, but actually very different!) is enough to make your head spin! Sadly, almost anyone can call themselves a “Financial Advisor”.
If this information can help a single person not lose money it’s been worth writing.