They are signing on for large debts with low initial interest rates that can skyrocket ultimately.
More Quotes from Gary Schatsky:
Consumers are biting. They're biting because the opportunities are good and in part because they see that the bank is making a statement to them 'You can afford it' -- when, in reality, most cannot.Gary Schatsky
Basically, the concern of NAPFA is the extraordinary expense often associated with these insurance policies, ... The problem with a lot of these high cost products is that they attempt to push hot buttons with consumers. They ask, 'do you want to pay taxes' Obviously, you don't. But the NAPFA approach is to look at your overall financial picture and do it on an unbiased, non-partial basis.
Gary Schatsky
You should get good, unbiased advice. It's an intricate analysis.
Gary Schatsky
War gets people thinking about mortality even if they aren't going to be doing any fighting themselves, ... Now's a good time to look at whether you have the right life insurance coverage and to make sure your estate plan is in order.
Gary Schatsky
Bad debt is debt that is used to enhance consumption.
Gary Schatsky
With or without the proposal, you have to act decisively and you have to begin saving immediately upon hitting the workforce. Not only is the present up to you, so is your future.
Gary Schatsky
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