Ep 33: Are You in a Bad Investment?

Okay, so there might not be such a thing as a ‘bad financial product’, but there are certainly inappropriate investments out there for people in certain situations. We’ll explore some examples of those kinds of situations on this episode and you might be surprised just how common it is for people to be invested in products that are ill-suited for their financial goals.

Read more and get additional resources here: https://principalpreservationservices.com/ep-33-are-you-in-a-bad-investment/

Today's show schedule:

1:05 – A recent study found a bad savings trend for Americans.

4:04 – Does Mike agree that there aren’t bad financial products, mainly just bad fits for people?

5:15 – Mike shares the worst investments he remembers seeing from a client.

7:59 – Do clients have any idea how they got into these bad investments?

9:48 – There are usually ways to correct your mistakes and get into correct investments. Mike shares a story.

12:31 – Making changes can benefit you greatly and here’s another story about a past client.

14:45 – Mailbag Question #1: How much long-term care coverage is recommend? It seems there are hundreds of options out there.

17:45 - Mailbag Question #2: I’ve had the same financial advisor for 20 years but it seems like he’s phasing out and passing things on to a younger advisor in the firm. Should we stick with them or find somebody new?