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Mastermind Monday: How To Avoid A Financial Lemon

Mastermind Monday

On Mastermind Monday, I introduce you to some of the best blogs from my fellow financial planners in my XY Planning Network mastermind group. Collaborating with this group has helped me grow my own business purposefully and expand my financial planning expertise. I learn something from Bill Kan, Dan Yerger, Neil Krishnaswamy, Maya Tussing, and John Bernstein every week. I hope you enjoy reading their blogs as much as I do.

Have you ever bought or invested in a “lemon?” Most people think of buying a lemon in terms of buying a used car that has a lot of mechanical problems. However, there is a lemons problem in financial services, too.

The lemons problem refers to determining the value of an investment or product when the parties to the transaction have asymmetric levels of information. In financial services, “lemons” can result when complex financial products are sold as a one-size-fits-all, simple solution. 

In this Mastermind Monday post, colleague Daniel M. Yerger, MBA, CFP, ChFC, AIF, CDFA. President of MY Wealth Planners in Longmont, CO, calls out lemons in the financial services industry and how to avoid them. 

What you will learn from Dan Yerger’s post:


Why Dan thinks that people selling these financial lemons know that they are lemons








Underage Annuities


Read Dan Yerger’s full post here:

Fresh Squeezed Kids Lemonade Sign

This blog is for general financial education purposes. Information contained in this blog should not be construed as financial, tax, real estate, legal, or investment advice. For educational purposes, blog posts may contain links to other websites which are not under the control  and are not maintained by Real Life Planning. Real Life Planning has provided those links for your convenience but does not necessarily endorse all the material on those sites. Please consult your financial, real estate, legal, or tax advisor for advice specific to your situation.