Primerica

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SP33Demon

SP33Demon

Lifer
Jun 22, 2001
27,928
143
106
My roommate is into Primerica, which is a subsidiary of Citigroup. I was wondering how legit this is, and whether it's worth my time. He says you can make, on average, between $2000-$2500 a month part time (about 10 hours/week). What do you guys think?
 
waggy

waggy

No Lifer
Dec 14, 2000
68,143
10
81
Originally posted by: SP33Demon
Originally posted by: waggy
no.
Click to expand...
Some supporting facts, documentation, websites, or anecdotal evidence would be nice. ;)
Click to expand...

well it was an answere to all the questions

is it legit? no
is it worth your time? no
can you make on avarage 2000-2500 a month for 10 hours work? no.



do a google search or hell a search here. far to many listing to post. its a rotten company
 
SP33Demon

SP33Demon

Lifer
Jun 22, 2001
27,928
143
106
Originally posted by: waggy
Originally posted by: SP33Demon
Originally posted by: waggy
no.
Click to expand...
Some supporting facts, documentation, websites, or anecdotal evidence would be nice. ;)
Click to expand...

well it was an answere to all the questions

is it legit? no
is it worth your time? no
can you make on avarage 2000-2500 a month for 10 hours work? no.



do a google search or hell a search here. far to many listing to post. its a rotten company
Click to expand...
I've done some research, and can't find any evidence that it's a "rotten company". I just found out another friend of mine was making 2000/month with his wife doing it. He said it's legit, just a lot of hard work getting new recruits. But the main question: why do you think it is "rotten" and what evidence should I look at that would prevent me from joining?

 
Jadow

Jadow

Diamond Member
Feb 12, 2003
5,962
2
0
not really a pyramid scheme. After college when I was looking for jobs, I interviewed with them. They basically recruit you to sell whole life insurance and lousy high fee mutual funds. After college I was more idealistic and not interested in signing up because of the "sleaze" factor. I had some reservations about selling garbage financial products. Now, it sounds like a good way to make some dough on the side.
 
NL5

NL5

Diamond Member
Apr 28, 2003
3,286
12
81
Originally posted by: Jadow
not really a pyramid scheme. After college when I was looking for jobs, I interviewed with them. They basically recruit you to sell whole life insurance and lousy high fee mutual funds. After college I was more idealistic and not interested in signing up because of the "sleaze" factor. I had some reservations about selling garbage financial products. Now, it sounds like a good way to make some dough on the side.
Click to expand...

They sell term life, crappy mutual funds and sell you on a simple interest mortgage.

It's nota pyramid, but it's an MLM. You make money buy recruiting other "employees".

 
SP33Demon

SP33Demon

Lifer
Jun 22, 2001
27,928
143
106
Originally posted by: NL5
Originally posted by: Jadow
not really a pyramid scheme. After college when I was looking for jobs, I interviewed with them. They basically recruit you to sell whole life insurance and lousy high fee mutual funds. After college I was more idealistic and not interested in signing up because of the "sleaze" factor. I had some reservations about selling garbage financial products. Now, it sounds like a good way to make some dough on the side.
Click to expand...

They sell term life, crappy mutual funds and sell you on a simple interest mortgage.

It's nota pyramid, but it's an MLM. You make money buy recruiting other "employees".
Click to expand...
My roommate says the mutual fund has averaged 12.8% over the past 73 years (lifetime avg) which has outperformed the S&P's 54 year avg of 9%. Not concrete stats necessarily, but he's trying to find more recent averages (10 year, 20 year).

 
NL5

NL5

Diamond Member
Apr 28, 2003
3,286
12
81
Originally posted by: SP33Demon
Originally posted by: NL5
Originally posted by: Jadow
not really a pyramid scheme. After college when I was looking for jobs, I interviewed with them. They basically recruit you to sell whole life insurance and lousy high fee mutual funds. After college I was more idealistic and not interested in signing up because of the "sleaze" factor. I had some reservations about selling garbage financial products. Now, it sounds like a good way to make some dough on the side.
Click to expand...

They sell term life, crappy mutual funds and sell you on a simple interest mortgage.

It's nota pyramid, but it's an MLM. You make money buy recruiting other "employees".
Click to expand...
My roommate says the mutual fund has averaged 12.8% over the past 73 years (lifetime avg) which has outperformed the S&P's 54 year avg of 9%. Not concrete stats necessarily, but he's trying to find more recent averages (10 year, 20 year).
Click to expand...

What are the fee's?

 
SP33Demon

SP33Demon

Lifer
Jun 22, 2001
27,928
143
106
Originally posted by: NL5
Originally posted by: SP33Demon
Originally posted by: NL5
Originally posted by: Jadow
not really a pyramid scheme. After college when I was looking for jobs, I interviewed with them. They basically recruit you to sell whole life insurance and lousy high fee mutual funds. After college I was more idealistic and not interested in signing up because of the "sleaze" factor. I had some reservations about selling garbage financial products. Now, it sounds like a good way to make some dough on the side.
Click to expand...

They sell term life, crappy mutual funds and sell you on a simple interest mortgage.

It's nota pyramid, but it's an MLM. You make money buy recruiting other "employees".
Click to expand...
My roommate says the mutual fund has averaged 12.8% over the past 73 years (lifetime avg) which has outperformed the S&P's 54 year avg of 9%. Not concrete stats necessarily, but he's trying to find more recent averages (10 year, 20 year).
Click to expand...

What are the fee's?
Click to expand...
He's checking it out now. Said that the fund has only been in the negative 7 of the 73 years though.

 
NL5

NL5

Diamond Member
Apr 28, 2003
3,286
12
81
Originally posted by: SP33Demon
Originally posted by: NL5
Originally posted by: SP33Demon
Originally posted by: NL5
Originally posted by: Jadow
not really a pyramid scheme. After college when I was looking for jobs, I interviewed with them. They basically recruit you to sell whole life insurance and lousy high fee mutual funds. After college I was more idealistic and not interested in signing up because of the "sleaze" factor. I had some reservations about selling garbage financial products. Now, it sounds like a good way to make some dough on the side.
Click to expand...

They sell term life, crappy mutual funds and sell you on a simple interest mortgage.

It's nota pyramid, but it's an MLM. You make money buy recruiting other "employees".
Click to expand...
My roommate says the mutual fund has averaged 12.8% over the past 73 years (lifetime avg) which has outperformed the S&P's 54 year avg of 9%. Not concrete stats necessarily, but he's trying to find more recent averages (10 year, 20 year).
Click to expand...

What are the fee's?
Click to expand...
He's checking it out now. Said that the fund has only been in the negative 7 of the 73 years though.
Click to expand...

They aren't the worst around, but IMHO too expensive. Plus, as I understand, they don't offer index funds.

Really, if you are even the tiniest bit savvy with your money, you can beat Primerica on every product they sell - if you are the consumer. If you're selling it, you can make more with a "regular" company. How many companies do you know hire anybody with $199 bucks??????


 
SP33Demon

SP33Demon

Lifer
Jun 22, 2001
27,928
143
106
Originally posted by: NL5
They aren't the worst around, but IMHO too expensive. Plus, as I understand, they don't offer index funds.

Really, if you are even the tiniest bit savvy with your money, you can beat Primerica on every product they sell - if you are the consumer. If you're selling it, you can make more with a "regular" company. How many companies do you know hire anybody with $199 bucks??????
Click to expand...
Why would you invest in an index fund if it has a lower return than the mutual fund?

You'll make money with no effort in an MLM is the argument, you're making a cut off of other people doing the work for you (that are under you). So in essence, you're making more $ per time invested over any part time job (such as selling insurance).

The 199 goes to licensing and background check, normally it would cost $799. Primerica subsidizes $600.
 
NL5

NL5

Diamond Member
Apr 28, 2003
3,286
12
81
Originally posted by: SP33Demon
Originally posted by: NL5
They aren't the worst around, but IMHO too expensive. Plus, as I understand, they don't offer index funds.

Really, if you are even the tiniest bit savvy with your money, you can beat Primerica on every product they sell - if you are the consumer. If you're selling it, you can make more with a "regular" company. How many companies do you know hire anybody with $199 bucks??????
Click to expand...
Why would you invest in an index fund if it has a lower return than the mutual fund?

You'll make money with no effort in an MLM is the argument, you're making a cut off of other people doing the work for you (that are under you). So in essence, you're making more $ per time invested over any part time job (such as selling insurance).

The 199 goes to licensing and background check, normally it would cost $799. Primerica subsidizes $600.
Click to expand...

I see you have no financial savvy. You are a prime candidate for Primerica - they are definitely better than doing nothing. Good luck. :)
 
oogabooga

oogabooga

Diamond Member
Jan 14, 2003
7,806
3
81
Originally posted by: SP33Demon

The 199 goes to licensing and background check, normally it would cost $799. Primerica subsidizes $600.
Click to expand...

My opinion on this - as a company you should be a valuable asset. The cost of training should far exceed 200 bucks so what's another 200 more to just completely subsidize the check.

My buddy works as a financial advisor (not with primeamerica) and he had to go pass all his series 6 (i think?) and other such exams on his own before they hired him, but they reimbursed him. The only situation he ended up paying was if he failed.

You're not renting a house, you're offering your services for financial compensation. Many people on this board have told you that they are MLM and that you aren't going to meet their stated earning potential, not even close to it to be realistic (to be fair this would be true with most companies).

If you think you can succeed in that system, power to you, fork over the 200 and get to work. Otherwise you should continue looking for work.
 
waggy

waggy

No Lifer
Dec 14, 2000
68,143
10
81
L

lightstar

Senior member
Mar 16, 2008
579
0
0
i have life insurance from primerica for the last 8 yrs or so. seems like a decent company; haven't had any problems
 
S

Special K

Diamond Member
Jun 18, 2000
7,098
0
76
Originally posted by: SP33Demon
Originally posted by: NL5
Originally posted by: Jadow
not really a pyramid scheme. After college when I was looking for jobs, I interviewed with them. They basically recruit you to sell whole life insurance and lousy high fee mutual funds. After college I was more idealistic and not interested in signing up because of the "sleaze" factor. I had some reservations about selling garbage financial products. Now, it sounds like a good way to make some dough on the side.
Click to expand...

They sell term life, crappy mutual funds and sell you on a simple interest mortgage.

It's nota pyramid, but it's an MLM. You make money buy recruiting other "employees".
Click to expand...
My roommate says the mutual fund has averaged 12.8% over the past 73 years (lifetime avg) which has outperformed the S&P's 54 year avg of 9%. Not concrete stats necessarily, but he's trying to find more recent averages (10 year, 20 year).
Click to expand...

Has the fund actually been in existence for 73 years, or are they using backtested performance?

What is the expense ratio?

What is the turnover?

Is there a load?

What is the fund's beta? I like how so many actively-managed mutual funds use the S&P500 to make a comparison, yet their own holdings do not correlate with the S&P500 at all. I actually saw an emerging markets fund using the S&P500 as a comparison.

Basically, a lot more information is needed to evaluate the fund. Do you have the ticker symbol?
 
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