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People talk about pyramid schemes. But yet don't realize the their in going for a salary or hourly position.

Do you get a chance to make commission off of each sale the company makes at those positions? Do you make commission off your own sale if you worked at retail, grocery, or restaurant business? Didn't think so but the person above you makes more money than because he maybe has more experience than you or maybe could be a better manager/leader than you? Who is above the managers?

Board of directors ok. How much are they making? Now the owner maybe shows up less than you, works less than you, maybe you've seen him, maybe you haven't.

How much does he make off your sale? Now how about you?

Location: Oxnard, California

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Guest

Wfg is a scam

Rasheda Oyv

Sure, one can argue that any business beyond a sole-proprietorship is a "pyramid", and that any business that has clients is a "network". However, what many of the people complaining about WFG are upset about is the lying, at least that is what I am most upset about.

People dig themselves into financial holes trying to make this business work.

People work their arses off for nothing. One can rationalize this all that they'd like, but at least with "real jobs" people get paid for their toil.

If you're going to have a powerful work ethic, make it work for you.

Get a job where you will get paid, learn about investing on your own and get to work for yourself without any of the cult meetings or additional fees, start your own business, or find gigs. Yeah, you might not get rich, but if you find something, at least you'll get paid.

Guest
reply icon Replying to comment of Rasheda Oyv

"People dig themselves into financial holes trying to make this business work. People work their arses off for nothing.

One can rationalize this all that they'd like, but at least with "real jobs" people get paid for their toil."

Do people dig themselves into "Financial holes" going to college? How much do they make in their 4-10 years in school?

~80% of people with college degrees do not work in the same field as their degree. They spend tens if not hundreds of thousands of dollars on student loans.

Then NEVER use the education for a better job. There are no guarantees that a degree even pays more.

~50% of people who start college, do not finish. So they pay thousands of dollars and never even get a piece of paper.

Yet, someone spends $100 for a world class financial education. They get an experienced person to look at their finances and an understand of how to make their financial life better. Maybe spend $400 on licensing.

Yet, its a scam if they don't do any work to make money?

That's like saying I got a college degree in hotel management, so I went and sat at a hotel for months... but they never paid me! I suppose real estate is a scam too. If you get a real estate license and never sell a home...

you don't get paid! SCAM! I wonder if that's why our country is in the trouble its in. Were a nation full of pansies.

Men are no longer men, they are cowards. I used to be people went into business, despite all of the risk for that little word, FREEDOM. We call it the land of the free and the home of the brave. Yet very few are free, and very few are brave.

Quit being a pansy and take control of your own life. Let me ask you, what do you have to do to get a day off from your "real job"? You mean to tell me, you have to ask another grown man to take time off? You have to beg and plead to another man to spend a week or a month with your family?

How many days off do you get when a loved one passes away? 3-5 days? If you need more time to grieve, you get fired.

That's not a man, that's a slave. Wake the *** up.

Prudencio Zlt
reply icon Replying to comment of Guest-1049698

Anon you say: "...someone spends $100 [at WFG] for a world class financial education..."

Good L*rd. You're joking right?!

Folks been there done that. That โ€œbackground checkโ€ C-note is just the faint beginning of what youโ€™ll lay out on travel expenses going to all the meetings and conventions and shelling out for many of the โ€œcourses.โ€ And NONE of these courses I went to were โ€œworld-class.โ€ Nearly all these meetings were rah-rah motivational events, with sketchy testimonials from upline folks on the โ€œfabulousโ€ money theyโ€™re making. (โ€œSee? Itโ€™s right here in my PowerPoint slide!โ€) My uplines aggressively flog the very complex and dubious Transamerica FFIUL policy, having near zero little or idea what theyโ€™re foisting on other people.

That policyโ€™s 25+ pages just for the main body of it, without the riders. And TA buried so many landmines in it, such weak and so few guarantees to the policyholder and so many fees, some uncapped, that TA *could* run the net annual return on that thing down to near zero even if the hapless policyholder faithfully pays the estimated level premium and it could even blow up on them 20, 30 years later. Anyone who got sucked into buying that fee-larded Trojan porker needs to either drop that thing right now or, at the very least, take *every page of it* it to a good โ€œFee-ONLYโ€ financial advisor who doesnโ€™t NOT sell policies and so can give a truly UNBIASED and HONEST opinion on it. NEVER rely on your WFGers to give you the straight story on the FFIUL since the pyramid top/WFG Corp make big bucks on it and it's way beyond the typical WFGersโ€™ comprehension.

You may have to spent $50--$150 for that FA's eval. But if the FA finds it unsuitable for you--as he or she *most likely* will--youโ€™ll save many thousands of dollars over your life if you cancel it now.

If you really feel you need life insurance, go for a good term-life policy which costs just a fraction of the FFIUL and invest all that money you save on premiums in a good ultra-low fee S&P 500 in your 401k) or IRA. You'll come out WAY ahead.

Guest

In any business, someone is making money off someone else. It's the nature of business.

It's through hard work and planning that someone may make more than others.

Not sure why people are ANGRY. If they are not committed to themselves and the company that they were working with, why is it a bad company? Maybe it was not the right environment for you or business for you.

I know of many restaurants that fail. Do they blame the Food and Beverage vendors for their failures or the Better Business Bureau?

Marketing is key to any success followed up by hard or/and smart work being applied.

I have several businesses and am also a part of WFG. This company gives us a level playing field to build our own financial wealth IF you are willing to commit and APPLY what is being taught through their system.

I enjoy sharing my knowledge with people in hopes that they are more financially knowledgeable for themselves and their family. Now you ask why I'm doing WFG and have several other companies. Why does Warren Buffet have so many companies? Diversified income.

Hope this helps.

Guest
reply icon Replying to comment of Guest-1027861

Well said! Thanks!

Prudencio Zlt
reply icon Replying to comment of Guest-1027861

Anon, you say โ€œ...Not sure why people are ANGRYโ€ฆโ€ Um, maybe because WFG corporate docs actually direct its contractors to deceive recruits? To deliberately withhold information when Associates and MDs court newbies and sign them up?

This MLM urges its contractors to *hold back information* to its prospects, both to customers and to fellow associates. Check out this doozy from WFGโ€™s System Manual: โ€œAvoid the Scenario of Disaster. *If you start answering too many questions*, it takes the edge off the prospectโ€™s curiosity.โ€

Anon, my own experience demonstrates this and more. My recruiter did some seriously embarrassing shuckโ€™nโ€™jive to conceal Transamericaโ€™s FFIUL actual policy text from me and he ultimately succeeded.

You can forget the WFG yada about offering โ€œ...a broad array of solutions from many well-known providersโ€ฆโ€ The reality: That toxic fee-infested IUL is WFGโ€™s main product that the company structured its comp and promo guidelines to guide all recruits to flog the hardest. My recruiter appeared largely ignorant of the product he bought for himself and shells out $500/mo for. Heโ€™s locked into really high fees and onerous surrender charges that extend out 15 years and will quite possibly lose it a decade or two from now. Yet he couldnโ€™t answer basic questions on it like โ€œwhat are the guaranteed maximum fees?โ€ He fails to understand heโ€™ll quite possibly be forced to let it lapse 20--25 years from now after he dumps over $100k into it because his COIs go crazy high sucking away his cash value down to nothing.

Why will this sad thing happen? Because no-one told him or tells anyone this FFIUL is essentially an auto-renewing 1-year term policy! The compensation structure encourages unethical and even illegal behavior in other ways too. Itโ€™s true WFG doesnโ€™t directly pay you to recruit, but it awards points for you to recruit, and you MUST recruit to move up the pyramid, especially since WFGโ€™s main products, the FFIUL and variable annuities, are usually not repeat sells.

As my recruiter wrote to me: โ€œYou have to see yourself as a โ€œbuilderโ€ [i.e. recruiter] rather than a seller. How much can you sell?!โ€ To make real money and to advance you have to recruit enough that youโ€™ll almost certainly violate pyramid scheme laws.

Anon, you say โ€œ...Maybe [WFG] was not the right environment for you or business for youโ€ฆ.โ€ Yeah Anon thatโ€™s for sure.

Itโ€™s not the right enviro or biz for ANYONE who wants to do the right thing for himself and his customers and recruits. This system spreads a lot of false hope followed by endless amounts of disillusionment and even heartache among its unceasing stream of woefully deceived recruits to feed corporate and the tippy-top 0.5% of the pyramid.

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