The Stacking Benjamins Show Better Investing Using Horrible Investment Products (SB1662)
Mar 28, 2025
Paula Pant, a personal finance expert and host of Afford Anything, joins Jesse Cramer from Personal Finance for Long-Term Investors and financial guru Don McDonald. They dive into the pitfalls of poor investment products like infinite banking and penny stocks, revealing how they often lure investors into traps. The panel humorously contrasts gut feelings with hard data and sheds light on the complicated world of 403(b) plans for educators. Expect a mix of insightful advice and lighthearted trivia, making finance both informative and entertaining!
AI Snips
Chapters
Transcript
Episode notes
Skip 'Infinite Banking'
- Avoid life insurance policies like "infinite banking", especially if you're young and new to investing.
- Focus on simpler, more established investment strategies first, like 401(k)s and index funds.
Steer Clear of EIAs
- Avoid equity-indexed annuities (EIAs), which promise stock market returns without the risk.
- This is a misleading sales tactic; high commissions incentivize sellers to push EIAs.
Late to Investing
- Paula Pant describes a podcast guest (age 41) who only started investing five years prior.
- This highlights the lack of financial literacy and the allure of "too good to be true" promises.