By: Frank Armstrong
By: Frank Armstrong, CFP®, AIFA®
What if I told you that I had an investment that would return a guaranteed 18% to 36%? And, to make it even sweeter, there was no risk at all. You simply cannot lose!
But, wait! There’s more! If you qualify, this investment will actually improve your credit rating. You can get out of debt and start building the wealth that you have dreamed about.
As an investment advisor I seldom have the chance to recommend such a lucrative product. Normally no risk investments like certificates of deposit (CD’s) or Treasury Bills only return in the neighborhood of 3% to 5%. Yet this guaranteed investment may actually return ten times as much. Usually we think of these high return investments as being reserved for the super rich with high priced investment advisors. But this investment is available to the middle class who can benefit the most from it, and it doesn’t require professional help or specialized market research.
That’s why I am so excited to share this idea with you. I know you will want to close the deal right away. But, do act now. You literally can’t afford to pass up this deal. Every day you wait is costing you big bucks.
The Securities and Exchange Commission, the folks that regulate us, normally won’t allow me to guarantee you that the sun will come up tomorrow morning let alone guarantee such an outstanding investment return. But in this case I think even the regulators would endorse the idea.
Credit cards are a great convenience if used responsibly. But, they are a slow acting poison for people that don’t pay them off in full and on time every month.
We know that credit card and other “consumer” debt is ugly through and through. Depending on your card company and credit history, the total of interest, late charges, finance charges, and penalties can easily exceed 30%. There is no better example of a toxic financial product.
So every dollar invested in reducing your credit card debt returns at least 18-36%. Compare that to the expected returns in the “risky” stock market of “only” about 8-11% over your lifetime and you will see that eliminating credit card debt is perhaps the best investment you could ever make.
The government is about to send many of you an economic stimulus check. Somehow they are hoping you will spend it all on products made in China. May I be so bold as to suggest that you invest it in wiping out your credit card debt?