Written by Bob Barber
Genesis 25:30-34
He said to Jacob, “Quick, let me have some of that red stew! I’m famished!” (That is why he was also called Edom. ) Jacob replied, “First sell me your birthright.” “Look, I am about to die,” Esau said. “What good is the birthright to me?” But Jacob said, “Swear to me first.” So he swore an oath to him, selling his birthright to Jacob. Then Jacob gave Esau some bread and some lentil stew. He ate and drank, and then got up and left. So Esau despised his birthright.
Matthew 7:15-20
“Watch out for false prophets. They come to you in sheep’s clothing, but inwardly they are ferocious wolves. By their fruit you will recognize them. Do people pick grapes from thornbushes, or figs from thistles? Likewise, every good tree bears good fruit, but a bad tree bears bad fruit. A good tree cannot bear bad fruit, and a bad tree cannot bear good fruit. Every tree that does not bear good fruit is cut down and thrown into the fire. Thus, by their fruit you will recognize them.
Wolves know the power of words and emotions to manipulate others. They use fear to fuel insecurity, then pounce.
- Financial Wolves offer enticing free steak dinner invitations to lure you in.
- Financial Wolves claim you pay nothing for their services, yet charge massive surrender fees if you want your money back. This compensates for the large commissions they received to sell these products.
- Financial Wolves represent companies that assign fictitious values to illiquid investments.
- Financial Wolves promote products with excessive commissions and expenses that consume large percentages of returns.
- Financial Wolves offer upfront bonuses that exist only on paper because they can’t be liquidated for cash.
- Financial Wolves return your money in 3-10 percent increments over many years, promoting this as an interest rate.
- Financial Wolves promote unreasonable fixed returns (if it sounds too good to be true, it probably is) while claiming no strings attached.
- Financial Wolves promise stock market-like returns without risk, but cap your gains at low numbers like 2-5% maximum.
- Financial Wolves offer unreasonably high interest rates compared to AAA-rated bonds. If it sounds too good to be true, it probably is.
- Financial Wolves use manipulative sales tactics on their prey.
Besides high commissions, many companies offer Financial Wolves significant incentives to sell their products. Examples include week-long vacations at four-star resorts, substantial year-end bonuses, and expensive gifts like golf clubs.
Don’t get sucked in by these manipulative salespeople and their unscrupulous tactics. The next time you receive one of those free steak dinner seminar invitations, throw it in the trash where it belongs.