The takeaway: GameStop is a declining company, whose stock enabled one investor to turn $53,000 into $48 million in barely 18 months. The stock’s unlikely investors have driven its share price to new heights, savaged Wall Street hedge funds, and caught the eye of Congress, due to fears their actions are roiling financial markets. It’s … [Read more…]
The takeaway: Fixed annuities are like CDs, except you earn a higher rate. Even better, your interest grows tax deferred. But there are steep penalties for early withdrawal. And tax treatment isn’t particularly favorable to your heirs. Look before you leap. $$$ Part six in a series on annuities that will appear here from … [Read more…]
The takeaway: equity indexed annuities allow you to participate in the stock market, with minimal losses and some gains. However, your market gains are substantially limited by fees and contract restrictions. Plus, obscure interest calculations make it hard to verify you’re getting the returns you were promised.  Better alternatives exist, so think twice.  (Maybe three times.)  … [Read more…]
The takeaway: How we succeed or fail with money is not based on our income, education, occupation, or investing skills. Instead, it’s based on factors like our behavior, attitude, and humility to name a few. These attributes are money “soft skills.” If there were ever a time to master the soft skills of money, it’s … [Read more…]
The takeaway: Immediate and longevity annuities pay you income for life, charge the lowest fees, and charge the lowest commissions.  If the stock market is making you a teensy bit nervous, they might be worth a second glance. They’re about the cheapest annuities you can buy. As always, you’ll need to weigh the pros and cons. … [Read more…]