Advisors are standing by . . . at 3 a.m.? One can only gag at the absurdity of the titles that are being used today to convince gullible people that those who are “ready” to serve them have notably superior qualifications for whatever they are supposed to be doing. A few minutes listening to the radio (more likely in the car these days) will inevitably give you the opportunity to learn about offers to: 1. Take care of more than $10,000 in outstanding credit card debt; 2. Negotiate with the IRS to reduce unpaid taxes; 3. Sell your life insurance policy (because the premiums have gotten so high); and 4. Buy an extended auto warranty for a car that’s no longer covered by the factory warranty. And so many others that make absolutely no sense. It is not unrealistic to believe that credit card companies will be willing to negotiate outstanding credit card balances. For them, it would be better to take less than get nothing. Although such payoffs can be arranged, ...
Investment and economic observations by N. Russell Wayne, CFP, MBA. Mr. Wayne is the president of Sound Asset Management, inc. and former Managing Editor of The Value Line Investment Survey.