A tumbling stock market and higher interest rates are forcing consumers to buy annuities. According to LIMRA, a trade group for the insurance industry, annuity sales in the third quarter of 2022 approached $80 billion, just beating the $79.4 billion record set in Q2. It’s an impressive 27 percent increase over last year. As in…
Annuity Market Will Cool in 2023 as Interest Costs Soar: Expert Forecast
January 2, 2023
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FTX Dust Settles, Soiling Everyone
December 19, 2022
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Alternative InvestmentsBrightBusiness & MarketscryptocurrencyFTXinvestingInvestmentMarketspersonal financeSam Bankman-FriedUS
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After weeks of speculation as to whether former billionaire, now hapless participant, Sam Bankman-Fried would be arrested for fraud surrounding FTX, the cryptocurrency exchange he ran into the ground, the mystery is over. The crypto exchange founder surrendered to Bahamian custody last week and is now awaiting extradition to the United States. Following a grand…
These 6 Mistakes Cost Me More Than $4 Million
December 17, 2022
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“Rule Number One: Never Lose Money. Rule Number Two: Never Forget Rule Number One” As a result of the financial crisis of 2008, Warren Buffett lost about $23 billion personally, and his company, Berkshire Hathaway, lost its AAA credit rating. So how can he tell us not to lose money, then? His point is that…
Investing: How to invest $1,000
By Kim Clark and Anne Kates Smith From Kiplinger’s Personal Finance Although the savings rate has dipped again following pandemic highs, many investors still have ample cash sitting in a low-interest bank or money market account. If you’re among them, here are some ways to invest $1,000. Buy Some Small Fry Get more bang for…
FTX Collapse Illustrates Dark Side of Technology Revolutions
When I wrote last week about the collapse of crypto exchange FTX and the fall from grace of its founder and CEO, Sam Bankman-Fried (“Falling Meteorite FTX Scorches Crypto Landscape”), it was already apparent that this multibillion-dollar swindle would go down as one of the largest financial frauds in history. With its most recent valuation…
Falling Meteorite FTX Scorches Crypto Landscape
November 14, 2022
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After several months of calm in the crypto industry, characterized by a role reversal in which equities were highly volatile and cryptocurrencies flat and boring, a familiar if tragic drama reminiscent of Icarus is now playing out. This week saw the dramatic failure of FTX, one of the world’s largest cryptocurrency exchanges, and the ignoble…
Roth IRA Investments to Build Wealth Over Time
November 12, 2022
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Don’t tell my wife. But me and Roth IRA Investments—we got a thing going on. After all, it’s the greatest wealth-building tool. Roth IRAs offer one of the best ways to invest for retirement, and many experts even consider them the best retirement account. This is because you can grow your Roth IRA money tax-free…
Series I Bonds, SS Benefits and Other Reader Questions
By Elliot Raphaelson From Tribune Content Agency Question: I am 65 years old. Does it make sense for me to purchase a 30-year Series I bond if it is likely I won’t be around when it matures? Answer: Although the I bond has a 30-year maturity, you can redeem the bond after one year. If…
The Ultimate Risk-Free, High-Yield, Guaranteed Investment
From time to time, this kind of question pops up in my inbox: How can I get started investing in stocks and mutual funds that are risk-free and have guaranteed high rates of return? Of course, that makes me laugh, not only because there is no such thing as a risk-free investment — let alone…
Investing: Bond Funds Turbocharge Payouts
By Jeffrey R. Kosnett From Kiplinger’s Personal Finance The typical short-term taxable bond fund has lost a hard-to swallow 4 percent to 6 percent this year through early September. Fast-climbing interest rates exacted this heavy cost, usurping two years or more of yield. But you know that. So here’s a query: What is the typical…
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