Reston, Virginia
1.5K views
12 comments

Premerica is nothing more than a rip off. If they had qualified money managers working for them I would not have lost over $112K in the past 6 months.

Save yourself and find someone else, anyone but them. I gave them my retirement account 5 years ago. It made about 25% and in the past 6 months they let it slide about 30% to where I am now further behind than where I started. Time is running out for me and I probably will never be able to retire at a reasonable age where I can enjoy life.

These idiots do not understand money management. They do not understand (stop loss) principles of investing. They just think long term nonsence with complete disreguard for any capital preservation. They are worthless to give any of your hard earned money too.

I intend to close my account tomorrow with them and move it to a more stable and intelligent institution. Don't get burned like I did. Save yourself and stay away from Primerica.

Just stay away from their garbage!

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Anonymous
#1092471

Agree!! I lost 4k in past 7 month!!

Anonymous
#644736

PRIMERICA would disapear as a corporation and no one would work as a REP if they told people the failure rate of their reps!!!!!!!!!!!!!!! no one would put in the time to become a rep if they know that 90% or more of them quit because they cant find business.

Anonymous
#454067

The Palm Bch FL Office rep convinced many to take money out of the state secured pension plan and put into an investment account. I have the paperwork where 12% return was promised with a draw of 8% at retirement.

Once the money was turned over they offered no investment asistance. Big losses now require a finiancal assistant in hops to get something back.

This bad advise caused many to draw half or less from the investment plan than they would have in the pension plan. And if that was not bad enough, poor advise on penalties for withdraw.

Stay away from Mike....

Anonymous
#151998

im commenting and im using my name and i am a rep for them and if you dont know what your talkin about i suggest u do some research to bash a company for something the entire country suffered is ludacris and befor u make comments you need to do your own research, if the company was so bad then why are they rated in the number one rankings you people get on here and say things with out knowledge of things. i agree with hold on a min bash when its needed not just becouse u dont understand whats happening. also if a company was so bad then why have they not had complaints to the proper officals on companies who investigate, why do companies who ranks companies due to what they do and handlle things rank them in the top 5 if they were such a bad company then consumer reporting agencies would result that but they say other wise so if you dont know please keep your opinions and stop assuming u kno what they say about ***-u-me assume

Anonymous
#50529

just to get it out there Suze Orman, Dave Ramsey and Clark Howard are not real investment advisors. They are entertainers and are not in the business of watching people's money but of being on the radion and TV.

If they are such gurus then why do they not have their own investment businesses?

Because they do not hold a securities license in most cases! That means they actually know less than an investment pro who has passed the exams, holds a liscense and is in the business of protecting others assets!

Anonymous
#917887
@investment pros

You, "investment pros" are an ***. The 2 you mentioned are not entertainers.

They are financial experts...which is why they are now rich and in the business in trying to help people. Why don't you get educated by attending Financial University and also reading Dave's Total $ Makeover.

Anonymous
#45812

EVERYONE lost money recently including me. BUT if you UNDERDSTAND how investments work, which obviously you DONT, you would know that if you take out your money, you DID lose all that money.

If you keep your money IN the investment, then your money will grow when the market comes back again. Think of it like shopping. Do you want to buy a pair of shoes for $20 or get two pairs for $20? Well, stock prices are low right now.

So if you are investing 25 bucks a month, instead of getting two shares, you are getting four. When the market goes back up, so will the value of those shares that you bought at a discount rate.

The ONLY way to truly lose money in a mutual fund is to pull your money out. Hope you didn't If you did, i'd try to re- invest before the market goes back up!

Anonymous
#41152

Why, because Suzy Orman, Clark Howard and Dave Ramsey says no.

Anonymous
#41133

A recent government report explains that Americans have lost 2 trillion in their retirement accounts in the past 18 mos. Everyone is hurting.

Maybe one would inquiry about other products like a variable annuity that guarantees a minimum return vs.

the market return (whichever is higher) that will protect you from running out of money after retirement. Most people jump to conclusions before they ask questions.

Anonymous
#41088

They arn't money managers. There's a difference.

Anonymous
#41003

As much as I'll bash Primerica, fair is fair.

You just described almost every portfolio in America. To blame your rep and profess that you know more than him is ludicrous. If you knew better, why didn't you move your money a long time ago.

I'll bash when it's right, but this is not right.,

Anonymous
#41002

As much as I'll bash Primerica, fair is fair.

You just described almost every portfolio in America. To blame your rep and profess that you know more than him is ludicrous. If you knew better, why didn't you move your money a long time ago.

I'll bash when it's right, but this is not right.,