Celebrity Financial Advice: 5 Products the Stars Endorse That'll Burn You

Betty WhiteEverywhere you turn there's a celebrity singing the praises of some product -- smiling at us from airbrushed photos adorning mall makeup kiosks, posing athletically on cereal boxes, and gushing during 30-minute infomercials about the amazing thing that immeasurably improved their looks or their life.

It's only natural that financial services companies enlist the help of celebrities to sell their goods and services too. And while some of the products may sound like good initially, remember that these celebs are being paid to peddle the goods.

We've compiled a list of five financial products endorsed by some famous faces that you really shouldn't take at face value. Remember that everyone's financial situation is different, so be sure to do your due diligence and review any terms before buying into one of the many financial products, services, and companies you see on TV.




Jessica Alling is a contributing writer to The Motley Fool.


[CORRECTION: The slides regarding reverse mortgages and Lifeline Program Insurance Products were updated at 5 p.m. Friday to clarify the explanations of how those products work and whom they might benefit.]

Increase your money and finance knowledge from home

Intro to different retirement accounts

What does it mean to have a 401(k)? IRA?

View Course »

How to Buy a Car

How to get the best deal and buy a car with confidence.

View Course »

Add a Comment

*0 / 3000 Character Maximum

7 Comments

Filter by:
jhon.morinho

Reverse mortgage loans can provide you additional income in your retirement years which can improve you quality of life.

http://www.reversemortgagelendersdirect.com/reverse-mortgage-loan/
http://www.reversemortgagelendersdirect.com/reverse-mortgage-rates/
http://www.reversemortgagelendersdirect.com/jumbo-reverse-mortgage/
http://www.reversemortgagelendersdirect.com/reverse-mortgage-calculator/
http://www.reversemortgagelendersdirect.com/reverse-mortgages-pros-and-cons/
http://www.reversemortgagelendersdirect.com/how-does-a-reverse-mortgage-work/
http://www.reversemortgagelendersdirect.com/who-qualifies-for-a-reverse-mortgage/

November 30 2013 at 3:07 PM Report abuse rate up rate down Reply
r.womer

The post will help me find out the best reverse mortgage lenders according to my own case in NC. In general, the mortgages may benefit senior homeowners with little income and significant equity in their home. So, it is a good financing solution for senior homeowners over 62 .

http://www.reversemortgagelendersdirect.com/reverse-mortgage-information/

March 30 2013 at 2:09 PM Report abuse rate up rate down Reply
td145

Nothing new here. All of these things didn\'t make much sence to me when I saw them.

February 20 2013 at 9:26 AM Report abuse rate up rate down Reply
SweetfeetBaby

You forgot to mention Obamacare.

February 20 2013 at 2:38 AM Report abuse +1 rate up rate down Reply
1 reply to SweetfeetBaby's comment
setanta_1

EXACTLY---celebUtardia 's endorsement of obummer from ooOOOOOOpra okra orca in 2008 on and on...FREE publicity and CAMPAIGNING air time etc-
someone should dig deep and PUBLISH THEIR TAX returns too.

February 20 2013 at 11:43 AM Report abuse -1 rate up rate down Reply
Sam_Adams

Makes me laugh ..........Anyone, ANYONE who make a finincal desision soley based on one of these azzzzzzz clowns deserves to loose every nickle they ever earned :)

There're sort'a ...... Like Obama voters, the country is getting EXZACTY (sp:)) what's coming to them!!!!!

February 19 2013 at 5:45 PM Report abuse +1 rate up rate down Reply
1 reply to Sam_Adams's comment
setanta_1

coming to "them" ? !!!.. this SCATOLOGY afflicts ALL taxpayers.
and look at the round about BAILOUT with the greeeedy SLOBS that signed on with madOFf and his scheme--they're getting REIMBURSED and ALL WITHOUT THE BENEFIT of theeee IRS looking into their FINANCIAL statements as well.
total bs.
WHO PAYS for this and them ? obummers STASH ?

February 20 2013 at 11:47 AM Report abuse -1 rate up rate down Reply
ED

Sure, RAC might charge you 1299.35 if it takes you the full term to pay it off. What the article fails to mention, these people, along with most others in the RTO field, give you a cash purchase price, that is good for so many months. Also, they neglected to say just how much that $400 laptop might cost, if you put it on a credit card. Another thing, if you went to your bank, got a short term $400 loan to buy one, what would it actually cost, with all the bank fees and interest. The way I see it, unless you have actual cash on hand, there is not much difference between these places and any other option. I actually bought a living room set through RAC when I first moved to FL. It was new. I ordered it from the store, which in turn ordered it from Ashley Furniture, their supplier. I went to Ashley\'s showroom and checked it out after I ordered. I bought the whole set fron RAC for $150 less than I would have paid for it at Ashley. I paid it off in 5 months, so was no added charges. My biggest problem with these folks is local store management. If the manager won\'t let you order new product, then I will NOT buy junk that is back off of rental.

February 19 2013 at 7:08 AM Report abuse -1 rate up rate down Reply