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My friend, 65 years old, signed up with WFG 2 years ago. He is now the proud owner of two piece of *** houses in Bakersfield, with interest only loans!

They advised him to take all the equity out of his 51 year-old house, and buy the 2 homes with interest only loans! Not only is he over $1million in debt, he should have retired after 42 years in the same industry, but he can't, because he's paying on these homes and the values have dropped so significantly, that he is working 60 yours/week to stay afloat! He might even lose his own home!

I know another lady, Spanish-Speaking, that was "advised" by another rep to take all the equity out of her home, and invest in an EIUL insurance policy! (Equity Indexed Universal Life or Universal Variable Life) She is 79 and about to lose her home!

People--NEVER take out your equity for an investment, especailly in a variable universal life product! They steal your wealth! You will have nothing left in the policy at the end! NOTHING!

The scams go on. Why those are even legal is beyond me. BUY TERM AND INVEST THE DIFFERENCE! HAS WORKED FOR 40 YEARS!

BUY TERM AND INVEST THE DIFFERENCE. NEVER BUNDLE YOUR SAVINGS WITH YOUR INSURANCE! You don't do that with your car insurance, or your homeowners insurance!

Don't do it--EVER!

Location: San Francisco, California

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Right-on David, this is a *** job from the start. Making you feel like you will be rich in a few months. I hope people see through the *** there handing out.


Not a scam but terrible people and bad information. Just out of college my wife and I thought we'd plan for the future. My father knew someone at his work who was a WFG agent and invited us to a meeting where a senior sales agent (Andrew Wellner, Orem UT) and his recruit told us of the wonders of the variable life insurance product. We sat there for 2 hours asking questions and they assured us that we could withdraw principal contributions after a year at no cost and made other promises about the product(we later found were untrue or misconstrued).

After about a year and us better understanding what we had got ourselves into and actually getting hold of a prospectus (not given to us at the time we invested) I complained to Western Reserve Life about the misinformation the senior sales agent had given us. WRL contacted the sales agent who claimed he had never met us and sent us a letter disregarding our complaints and concerns. Needless to say we stopped making payments and have let the policy lapse.

We lost about $3,500 which I consider a small amount to pay for a hard lesson learned. I would never recommend WFG or WRL as they are uneducated about what they sell and give poor customer service. I would recommend getting a subscription to Kiplinger’s magazine, you will get more out of reading that than anyone at WFG could ever offer you.


Regarding the rude comments by " Written by Damage Control Specialist?, on 06-04-2009 17:19 "

For someone who claims to be educated, you don't read the fatcs very well. It says the 65 year old man bought a house that is now 51 years old.

It doesn't say he bought the house brand new. Secondlt, regarding his retirment, it clearly says he should have retiored after 42 years in the same industry.

This doesn't mean he should have retired 42 years ago. Its obvious many people need to go back to school and the damage control specialist should be at the front of the line.


Well Damage control specialist, let me guess, you must be a DCS for this company, trying to mend some rips here and there?..I went to a seminar or "a job interview" as they eloquious put it..called on Sun for an ER interview on Mond by 1pm..So I am rushing there and behold about 50 people with "name tags" on like a production line of humans ready to slaughter..

Anyways, as I was in the waiting room with other "guests". I did a quick search regarding this company..behold "red flags" everywhere. I informed everyone in the room regarding the "blems" from this company.

Everyone rolled their eyes like "I knew it".But most of us stuck around to see what was in store..Nonetheless, like clockwork, all the wonders and prosperity a network marketing can offer.

The joys!!..Nonetheless, benefit of the doubt granted, until I was asked to reach into my pocket book and hand over $100.00 to do my background check?..Hello, if they want to hire me so bad, then shouldn't that be their responsibility. Oh and I had my fair share of questions such as "so are the requirements is "cold calling" or "door to door" like some of these poor jehova's witnesses traveling in god-forsaken heat.

They couldn't even answer that!!..I will work for something, but at least tell me what the requirements are!!..So I left wondering where 2 hours of my valuable time went!!..

So Mr Damage Control Specialist...Carry on mending your happy-go-lucky tear this company is having you sew.


I just signed in with WFG I have a lot of faith that I will Sucess


I am sorry to hear about these people who have lost everything but all I can say is use common sense. WFG isn't a bad company, its a vehicle to get you started on what you need.

You have to know what you want and need before they can suggest anything and when they do, look at all the facts! Ask question, do research and never make these decisions alone when you don't have to. It's common sense! WFG's only job is to find out what you want and need and to link you up with the company or companies that best suit your needs.

It's up to you to decide whats right or wrong for you.

Please don't try to blame your friends problems on a company that really can only advise you in what they think is best. If the company they sync you up with screws you over, it's your own fault for not investigating the company yourself before signing your soul away.


We all make decisions in life;

and we earn the consequences for our decisions.

It is probably too late for this elderly fellow, so here is a tip for others: Before making a major financial decison, check on what you intend to do. Make a decision you can live with, because you will.


Listen you guys!

Do you eat burgers?

If you go to Mac. for example, all store may not be the same. Some serve fresh and nice service, but some may not. Same thing.

WFG is not doing anything wrong. The system is clear and nothing is hidden. Only the problem is who is running the group and business. Be sure to understand, WFG is doing right thing always.

Problem is the person who is running the business, because it really up to the person how he runs the business.

If someone said this is a scheme, do more research about the company.

If you came across with bad group, don't even bother with it, and then, report to the WFG. I'm sure WFG is not happy about it also.


Stupidity reins in a world of idiots. All of this negativity stems directly from your own ignorance..

Let’s do the math!!! A 65 year old man purchases a second house by taking out all of the equity from his 51 year old house. So, you’re saying that he was 14 when he purchased his first house??? Secondly, he has 1 million in debt and should have retired 42 years ago. So, he would have been 23 when he should have retired – right? If you want to smear WFG’s name, try going back to school getting an education in mathematics. Your numbers don’t add up.

Now, let’s take a look at the 79 year old “Spanish Speaking” woman. First and most importantly, the underwriters would NOT allow this contract to take place simply because of her age – period!! Secondly, stealing your wealth, on an EIUL? Clearly, you are more *** than I thought!! EIUL is a life insurance policy. And what is life insurance designed to do? Protect against the loss of income in the case of an income producer; and secondly it’s an asset protection from the tax man. Life insurance is not designed to make you rich. It’s to protect you. Now, trying to insinuate that this poor lady was taken advantage of because she couldn’t speak English is questionable. There are too many checks and balances for a contract to go through without being questioned. Try again with something more believable

Next… Red Flags!!! Yes, watch out for the red flags. If they start throwing “pie in the sky” stuff then that’s wrong and should be reported. Because, anyone who is looking to join a network marketing organization MUST realize that you HAVE TO WORK HARD in order to get rich. And YES you can get rich in network marketing. It’ll probably take you around 10 years minimum to get there. But, let’s be a little more open about your comments on taking your credit card. Clearly, you went through the whole process and you were getting ready to join, right. There is a $100 fee to join. That fee consists of getting you put into the various computer systems, running a background checks and providing you with some marketing tools. Now, how much would it cost to get a domain name, print your own literature, and be the customer service person of record? It’s funny how people want to make money, but don’t want to invest a cent in building their business. Friggin *** thought process!!

Ahh Yes, the claim of being a pyramid scheme!! Do your homework Technopu___. Let’s do the math. WFG is regulated by state and federal government. WFG has been around for many years. There have been the occasional “bad apples” that have been caught, and fired by WFG. Others have been caught, tried and sent to prison. But, for the rest of the hard working WFG associates, they are trying their best to do the right things for their clients. If WFG is a pyramid scheme provide a little more information as to why YOU believe that it is. All I see is a bunch of accusations, but no proof behind your thought process. Hmmm, could it be you are just a complainer?

Finally, a semi intelligent comment about IULs. That’s right, EIULs haven’t lost a single penny!! Why? Because they are guaranteed at 1% minimum increase in cash value. That’s ama-za-zing!!

Like I’ve said before…When you take away all the “straw men” arguments it all gets clear. Protect or not protect assets? Protect or not protect dependants? Accept a moderate rate of return for these benefits?

You Choose.


I can't believe people will take advise from *** people who doesn't have a clue at what's it all about...

IUL and annuities are made for long-term i.e. retirement!

That one person who wanted to terminate annuity after 4 years is so ***, he has been explained to of the terms.

You blame your own ignorance to others just trying to help you out..

One should really just stop and start taking responsibilty for their own actions and judgements instead of pointing your fingers at other people. ;(


I went to one of these WFG "seminars." I never thought I would be part of a live infomercial - red flags everywhere! The guy who invited me wouldn't tell me exactly what it was (1st red flag).

No one could tell me exactly what I would be doing if I started to work (2nd). I was asked to write numbers like 1 billion like I was an 8 year old (3rd). Help your friends and family live their dreams of financial independence by giving us a list of 25 contacts (4th). I need your credit card right away to cover training costs (5th).

They try to make you feel like everyone else is so dumb for not doing this (6th). *** questions who prompt an obvious "yes" answer - who here likes helping people? (7th). I could go on and on.

If something seems to good to be true, it isn't. Beware.


I was involved with a lifelong friend of my wife that worked for this company. Now I know she did not know anything about investments after we lost $20,000. She was a flight attendant before making millons off of unsuspecting people like myself. She placed us into a Annuity which comprised of a $150/month maintenance overhead which I am sure that she received a great portion of that money.

After 4 years of placing $300/month into this retirement fund I decided to take it out because it was not making any money. I was told that I was lucky because I did not "OWE" anything..... What??!!!

I walked away with a broken friendship to the broker and a loss of $20,000. I am only glad that I got out when I did.

Major Pyramid scheme .... I feel sorry for the people who are in it. They are going to lose a lot of friends and families...


WFG is simply a pyramid scheme. Any positive comments you read on the web regarding WFG are carefully placed by their team of damage control specialists.

Any financial rewards obtained by WFG's network of scammers are directly related to their levels of ruthless dishonesty.

Jail would me the best place for any of WFG's "managers".


Sounds to me like the problem is that your friend bought properties in a *** place called Bakersfield.

Maybe he should move to San Francisco where the properties hold their value.

And does he really need two properties?

I work 60 hours...What does he expect?

He probably has no savings...

Who's fault is that?

Maybe he should have started planning when he was Idunno, maybe in his twenties...

Speaking of that...Why didn't he buy term and Invest the difference?

It sounds like ignorance runs rampant in your circle of friends.

P.S. Bakersfield, Cmon...

It doesn't take a rocket scientist to know that there is no such thing as a house in Bakersfield worth $500K.

He just got caught with his pants down like everyone else.

Maybe he should try a loan Modification.

Or maybe he should listen to you.

You sound like you know it all.

Oh, by the way his IUL account didn't lose a single penny....

Don't forget to tell people that!

Not 1 penny!

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