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5 Risky Investments to Avoid and One to be Cautious On
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Triple your returns overnight? Sounds amazing, until it vaporizes your savings. This week on the Wealth Decisions Podcast, I'm ripping the mask off of the most dangerous money traps and discussing one of the most popular ETF’s pros and cons.
Sometimes, it's not what you decide to do but what you decide not to do. These five investments could seriously damage your financial health. Wealth building isn't about finding the next hot investment or get-rich-quick scheme. It's about making consistent, informed decisions over time. Sometimes, the best investment decisions are the ones you don't make.
Pre-order my new book "Momentous Decisions: 7 Steps to Better Health, More Wealth, and a Richer Life" at:
https://www.momentouswealthadvisors.com/book
For a transcript of today's episode, go to:
https://www.momentouswealthadvisors.com/blog
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Brian D Muller(AAMS©), Founder, Wealth Advisor
XYPN Invest Disclaimer:
Brian Muller is an Investment Adviser Representative of XYPN Invest, an SEC-registered investment advisory firm doing business as Momentous Wealth Advisors. This podcast is not published on behalf of XYPN Invest, and the views expressed herein are solely those of Brian Muller.
Podcast Disclaimer:
The Wealth Decisions Podcast is provided solely for general information purposes and should not be construed as accounting, legal, tax, or any other professional advice. Visitors are advised not to act upon the information or content found here without first seeking appropriate guidance from a qualified accountant, financial planner, lawyer, or other relevant professional. Any hypothetical performance is just that, and there is no guarantee that you will receive a specific average rate of return in any examples in this podcast.
Please note that any federal tax advice is not intended to be used to avoid penalties under the Internal Revenue Code or to promote, market, or recommend any transaction or matter addressed herein. It is important to ensure compliance with the requirements imposed by the IRS and Circular 230.
We strive to ensure that the content published on the Wealth Decisions Podcast is accurate and up-to-date. However, we cannot guarantee the accuracy, timeliness, or relevance of any of the information provided. We are not responsible for any information present on the Wealth Decisions Podcast and disclaim any liability for the accuracy, completeness, or reliability of any information.
Takeaways:
- Investing in 3X leveraged ETFs may yield attractive returns, but they are inherently risky due to their daily reset feature, which can lead to significant losses.
- Penny stocks, while potentially lucrative, are fraught with high risks and often subject to deceptive practices such as pump and dump schemes.
- Unregistered ICOs and crypto tokens promise revolutionary gains, yet they frequently result in financial losses for investors due to their lack of regulation and oversight.
- Timeshare properties are marketed as affordable vacations, but they often entail rising maintenance fees and poor resale value, making them poor long-term investments.
- High yield investment programs promising guaranteed returns are often Ponzi schemes, and thus should be avoided to protect one's financial interests.
- Investors should focus on diversified, low-cost index funds or ETFs, ensuring a balanced approach across various sectors to minimize risk.
Companies mentioned in this episode:
- Tesla
- Nvidia
- Invesco QQQ Trust
- Apple
- Microsoft
- Amazon
- Ethereum
- Bitcoin
- VRBO
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