Apr 9, 2019

Back in 2013, the Oxford Dictionary added a new word. It was actually an acronym. FOMO stands for Fear Of Missing Out. The term is usually reserved for those who spend money impulsively to buy the latest gadget, phone, high tech watch, clothing, fancy car, or vacation as seen on social media. FOMO is what drives people to go into revolving credit card debt, paying 24% interest. In the world of investments, FOMO is that feeling that “everybody else is getting rich, but not me…so I’d better jump in.” Investing without a strategy is never a good idea, but one of the WORST reasons to invest is because you fear missing out on hitting the peak of the market. Yet analysts that we are currently in a classic FOMO market. Investors don't want to miss out and are ignoring the risks. We'll review an intriguing report then Steve answers some tough questions on annuities. You don't want to miss today's show, MASTERING MONEY is on the air!!