In the spirit of Halloween, let’s do our own trick-or-treating around the financial industry. Come with us as we take a look at five different products that investors commonly use and decide whether they are tricks or treats. We’ll also dive into the Halloween (mail)bag to answer three great questions on emergency funds, life insurance, and inheritance.

 

Read more: https://johnsonbrunetti.com/financial-trick-or-treat/ 

 

What we discuss on this episode: 

0:45 – To acknowledge Halloween, we’ll be talking financial tricks or treats.

1:05 – It’s the 88th anniversary of Al Capone’s sentencing for income tax invasion.

2:05 – In the news: 3 employees at an assisted living facility arrested for running a fight club with elderly residents with dementia.

3:35 – Let’s go trick or treating now.

3:50 – Trick or Treat? Home equity line of credit

5:35 – Trick or Treat? Variable annuity

7:30 – Trick or Treat? The no-load mutual fund

10:01 – Trick or Treat? The no closing cost mortgage

11:08 – Trick or Treat? Life insurance with an accelerated death benefit

12:57 – People need a second opinion when determining whether things are tricks or treats.  

14:50 – Mailbag question: I’m told I don’t have enough of an emergency fund in the bank. What’s more important, building that up or maxing out my 401k.

19:29 – Mailbag question: I’m thinking about canceling my expensive whole-life policy and getting a much cheaper term policy. Is there any reason I shouldn’t terminate the policy and use the cash on something else?

20:57 – Mailbag question: My grandmother died recently and left me a lot of money. It’s more than I’ve ever had before so I don’t want to be an idiot with it. What should I do to make sure I’m not mad at myself in 40 years when I want to retire?