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Saturday, January 28, 2023
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INSURANCE AGENTS SELLING “GET RICH QUICK” COURSES TO GULLIBLE PEOPLE, PROMISE 5-DIGITS/MTH

Financial advisors and their unrealistic expectations. Why?

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I used to follow a couple of advisors from the same advisory group till i realized wow, it’s just different p**p dressed in different designer clothes preaching the exact same thing. And yes, the majority of their contents are similar to other advisory groups; “What if I tell you you can retire early?” “What if i tell you you can maintain your lifestyle WITHOUT spending too much?” “What if i tell you you can have financial freedom?” and then they’ll preach about aiming to earn $10k to $14k by 30 and that it’s doable for everybody if they put in the effort.

And oh, by the effort they meant….? Yea, no follow up. Not trying to be a sour grape, but. majority of us in Singapore are working for a fixed monthly income +- the random overtime. Yes they preach side-hustle, but how many of us really have the time and energy to do that? Unless we work from 9 to 6 and then teach tuition at night and do grab over the weekends. But for. majority of us, our main career is already draining us.

And for them to preach earning $10k-$14k a month, it’s ridiculous and it breeds toxicity. That people who don’t earn $10k, are way behind the curve. Unless you work in IT or banking, I believe a majority of us Singaporeans might not even reach that $10k mark. But of course, for them $10k is definitely achievable; sell scammy products to unsuspecting victims and your commission adds up, and boom $10k. Sounds like a prostitute to me or an onlyfans creator to me just that they’re selling different parts. Same same. Also, morality issues. At least prostitutes and only fans creator are upfront with their intentions, which makes them more respectable than the scums.

A hotel employee won’t randomly get $10k by checking in more people, nor will a waiter earn $10k for sending more plates out but hey, life goes on.

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Netizens’ comments

  • its not. they basically sell u the unrealistic course for few hundred $$$. then if u dumb enough to subscribe … thats where they earn their money.
    not through “side hustle” or “dropshipping” or whatnot
    if im rich why would i sell my recipe for success, thats like shooting myself in the foot
  • People selling “get rich quick” or “how to invest” courses are preying on gullible people. They do so by promising things that are objectively amazing (having passive income, making tons of money). The more you struggle, the more you dream of it. It’s unfair and bad, but that is how these people make money.
    As long as people dream and have hopes, there will be other people preying on that sadly.
  • They’re just trying to sell you a dream so you’d pay for their course. There is no such thing as fast and easy money. Eventually, only they benefit from the course fee you paid and you’d still be back at your $3k/mth job. You can only side hustle so much before you burn out and fall sick which isn’t worth it because medical bills aren’t cheap.
  • Basically Financial Advisor (FA) are no different than a normal any salesperson (only that FA are governed by MAS). Only that all FA try to glorified all their work. And sadly, the society we live in often view people equipped with branded goods successful or at least successful at what they do. I’m sure you have that one friend that wears all branded goods and somehow you felt he might be doing well or doing not too bad. So with all these external elements attached, suddenly people will feel unrealistic expectations isn’t that unachievable anymore. At end of the day, FA is still just a sales job, and many of the FA are also being painted unrealistic rewards but how many of them made it? IMO, It’s a sunset industry with more and more technology replacing FA.
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