No one wants to be fooled. Unfortunately, there are many popular financial products that seem like a good idea, but can actually derail your financial plans and cause you to miss out on true wealth building opportunities. Truly wealthy, secure people know how to tell which financial investments are worth it and which are too good to be true. In this episode, we’ll teach you how to tell the difference and think like a millionaire!
In this episode, you’ll learn:
- How to choose the right life insurance
- What long-term investment vehicles will cause you to lose money
- The dangers of emotion-driven investments
- Which big purchases may come back to haunt you
- How to decide whether the latest financial trend is worth investing in
Research and resources from this episode:
- The Harsh Truth About Annuities (The Money Guy Show)
- Is whole life insurance right for you? (Consumer Reports)
- How Much Does Whole Life Insurance Cost? Rates & Charts (Top Whole Life)
- Fidelity Magellan Fund (FMAGX) (Yahoo Finance)
- Historical CD interest rates: 1984-2021 (Bankrate)
- A woman who studied 600 millionaires discovered where you choose to live has 2 effects on your ability to build wealth (Insider)
- Second Homes… Part I (Thomas J. Stanley, PH.D.)
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