Is it possible we’re heading into the proverbial “Santa Claus” rally here at the end of the year? It’s crazy to consider given that we just experienced one of the biggest sell-offs in market history just last weekend. In this episode you’ll get all three of us weighing in on what’s going on as well as our thoughts about how Wall Street loves to gouge investors with fees of all kinds. We’ll educate you about how you can avoid as many of them as possible, so stick around and listen to this episode.
You will want to hear this episode if you are interested in...Lots of investors were shocked at the market drop last week and did what investors should never do… they moved their investments based on fear. But the reality is that your best bet is to BUY in times like that. You want to buy when prices are LOW and count on the rebound, which is what we’re seeing right now. We predict the rebound is going to continue, the so-called “Santa Claus” rally and beyond.
This week on the tipping point: Financial companies advise what benefits THEMThe Financial Services industry is not a non-profit. Everyone working in the industry is being compensated (and should be), but you want to make sure that the people working with you are actually working FOR you. Are they recommending what will make them money, or what will make YOU money? There are many internal costs that never show up on your financial report or statement. It’s hard to weed them out of everything else to know what you’re really paying. You want to make sure your financial advisor is a fiduciary — a person who is obligated to work in your best interest, not theirs. And also, watch out for the annuities pitch and the structured product or structured note. You’ll be missing a lot of data you need in that pitch, so listen to get the insight you need to make the best decisions.
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