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Thursday, February 9, 2023
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FRIEND WORKING IN INSURANCE TOLD ME TO INVEST $100K SO HE CAN GET MDRT

As a friend, I’m always happy to help out when I can.

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But when my friend who works in insurance recently approached me about investing $100,000, I was hesitant. He told me that if I invested the money, he would be able to earned his first Million Dollar Round Table award.

At first, I was tempted by the offer. After all, who doesn’t like the idea of making more money?

But as I thought about it more, I realized that there were a few red flags that made me uncomfortable.

First of all, my friend’s primary motivation seemed to be his own financial gain, rather than my best interests. As a professional in the insurance industry, he should be more focused on helping me make informed decisions about my money, rather than trying to convince me to invest in something just so he can earn more commission.

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Secondly, I wasn’t sure that the investment he was suggesting was actually a good fit for me.

He didn’t provide much information about the risks and potential rewards of the investment, and I wasn’t confident that he had thoroughly evaluated my financial situation and goals before making the recommendation.

Finally, I was concerned about the potential conflict of interest. My friend is in a position of trust, and I rely on him to provide objective advice about my insurance needs. But if he stands to benefit financially from my investment decisions, it’s possible that his judgment could be compromised.

In the end, I decided not to invest the $100,000. I didn’t want to put my money at risk without thoroughly understanding the potential rewards and risks, and I didn’t want to compromise my friend’s objectivity as an insurance professional.

I know that my friend was just trying to help, but I also know that I have to be cautious when it comes to making decisions about my money. I’m glad that I took the time to think things through and make an informed decision, rather than rushing into something just because it sounded like a good idea at the time.

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