Scams, Schemes, and Scoundrels! Buyer Beware the Pension Replacement Plan

Margaret Wittkopp is the founder and CEO of Veritas Financial Services. Her many years of working with clients with big portfolios, small portfolios, and those just beginning to invest have given her the experience that investors crave for their financial mentor.

We spearhead a talk on the ‘American Dream’. What it is, what others perceive it to be, and overall, just a discussion on the nuances of the concept from a financial standpoint.

In This Episode:

Margaret Wittkopp of Veritas Financial Services brings to light a pension scam. She teaches the difference between the full payout and the replacement pension. Insurance companies will offer you an attractive alternative: take the full payout and get a pension replacement for your beneficiary where the remaining balance becomes a life insurance policy. Sounds good until you realize the premium to keep the insurance policy afloat is far more than the money you “saved” by taking the full payout.

(03:01) Pension discussion: For your lifetime only versus with beneficiary

(06:26) The fine print: How insurance companies dupe you with the pension replacement plan

(09:49) Insurance premiums skyrocket when you hit 80 years old

Key Links:

Veritas Financial Services, LLC Website: http://veritasinvesting.com/

For questions, educational resources, or to sign up for the next American Dream Experience event, call the Veritas Office: (920) 893-5262

You can also get in touch with Margie directly via email at margaret.wittkopp@veritasinvesting.com