Financial help: What senior investors should know about annuities
Annuities can be useful tools. But I dont recommend them, for the most part, especially for senior investors. These are the two annuities seniors should avoid at all costs:Variable life contracts Equity indexed or fixed annuitiesHere is why:They are complicated and confusing. They often come with nose-bleed fees and surrender charges usually built into the early contract years. They are meant for long-term investors -- sometimes up to 15 years -- meaning not for seniors.
Financial help: Recession-proof your money with lessons learned from COVID-19
The American Institute Of CPSs is offering financial advice for troubled times. Recession-proof your investmentsSet financial goals, stay diversified and revisit asset allocation regularly to manage market fluctuations. Create a crisis budget in troubled timesExamine current income against current living expenses. Pay with money you havedo not use credit and make matters worse. READ MORE: Lessons Learned from COVID-19 can help Americans Recession-Proof their Finances: AICPA Survey