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Avoid FOMO Investing Mistakes

Tuesday, January 9th, 2018 and is filed under Financial Planning Tips

fomoFOMO. The fear of missing out. The compulsion to keep up with the Joneses can reach every corner of our lives: purchases, lifestyle, and even investing. Have you ever felt it? Social media has brought this phenomenon to the forefront in recent years, but most people haven’t given much thought to how Fear of Missing Out could be driving their investment behavior.

People like to think that they make their financial decisions based solely on logic …but that may not be the case.

Two researchers from Stanford say when it comes to investing, what we fear most is not the risk of losing our money, but the risk that we might not do as well as our peers. This could mean taking on more risk than is pertinent in the hopes of big pay offs, or leaving too much money on the proverbial table when market euphoria hits. All because we’re afraid of missing out on the next big opportunity.

This strange phenomenon explains why and how bubbles in the stock market appear. Investors pile into certain “hot” sectors or stocks, and prices inflate to unsustainable levels.

So why do investors follow the same patterns over and over again? Strangely enough, a herd mentality emerges that allows investors to feel a sense of false security – the idea that everyone is doing it, so it must be a good idea – and shared loss. When everyone loses money together, it’s not as painful as being the only one to lose (or the only one to “miss out”). The shared loss makes it easier to shrug off losing money, which sets investors up to repeat their previous mistakes.

There is good news though. You can avoid FOMO on great monetary gains while still managing risk appropriately. One way to accomplish this is by moving a portion of your portfolio to a fixed index annuity.

A Fixed Index Annuity offers the potential to grow your money along with stock market indexes, and comes with a guarantee that your money is 100% protected from stock market losses.

If you’re looking for a way to secure savings for your retirement, you may want to consider re-allocating some your assets from risky positions to a fixed index annuity.

Are you in need of a financial FOMO intervention? Contact Dewitt & Dunn today to schedule a complimentary appointment with one of our experts.

Be Careful with Your Hurricane Harvey Donations!

Wednesday, September 6th, 2017 and is filed under Financial Planning Tips, Videos

Be aware of who you are donating to with your Hurricane Harvey donations!

Join Cathy DeWitt Dunn on Morning Dose as she discusses charitable donations related to Hurricane Harvey victims and how to exercise caution when donating to certain charities. Read More

College Student Money Management with Cathy DeWitt Dunn

Friday, August 25th, 2017 and is filed under Financial Planning Tips, Uncategorized, Videos

When it comes to money management, college students tend to make a lot of mistakes. The two biggest money mistakes that college student make are student loan debt and credit card debt.

Join Cathy DeWitt Dunn on Channel 5 News in Dallas to discuss College Student Money Management. Read More

US Household Debt Hits Record Levels

Friday, August 18th, 2017 and is filed under Financial Planning Tips, Videos

Laila Muhammad and Cathy DeWitt DunnIf you are cringing every time you open your bills every single month, well, you’re definitely not alone. According to a new report from the Federal Reserve Bank of New York, Americans’ debt level has hit a new record high. Total U.S. household debt has hit nearly $13 trillion in the most recent quarter. That is up over $500 billion over the same time last year. Well, that study also found that the average American is about $37,000 in debt. So 1 in 10 Americans are more than $100,000 in debt, and that’s not even including your mortgage. Credit card debt is also at a record high. According to the Federal Reserve, U.S. households collectedly have more than $1 trillion in credit card debt. Read More

Cathy DeWitt Dunn on Checking Account Alternatives

Monday, July 31st, 2017 and is filed under Financial Planning Tips, Videos

Join financial professional Cathy DeWitt Dunn and KDAF’s Laila Muhammad as they discuss checking account alternatives in this television interview.

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Cathy DeWitt Dunn on Christmas in July

Wednesday, July 19th, 2017 and is filed under Financial Planning Tips, Videos

Annuity Watch USA’s Cathy DeWitt Dunn discusses “Christmas in July” with KDFW Fox 4’s Shannon Murray in this television interview.

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Pocket More Money in 2017 – KDAF Interview

Wednesday, January 4th, 2017 and is filed under Financial Planning Tips, Uncategorized, Videos

In this KDAF interview, Cathy DeWitt Dunn and Neeha Curtis discuss how to pocket more money in 2017.

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What does the Fed rate hike mean for Americans?

Friday, December 16th, 2016 and is filed under Uncategorized

On Wednesday the Federal Reserve increased its key interest rate by 0.25%, marking the first interest rate increase since June of 2006. According to financial professional Cathy DeWitt Dunn, the Fed is likely to increase rates even further in the coming year. Read More

Job Costs and How to Deal with Them

Monday, September 26th, 2016 and is filed under Financial Planning Tips, Videos

Cathy DeWitt Dunn joins Eye Opener TV’s hosts Laila Muhammad and Oliver Tull to discuss job costs and some possible ways to save money on those costs.

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Life Insurance Awareness Month is September

Thursday, September 1st, 2016 and is filed under Financial Planning Tips, Uncategorized, Videos

September is Life Insurance Awareness Month, so now is a great time to determine if you need life insurance, how much you need, and what type of life insurance you need. Fox News Good Day Sunday interviews financial professional, Cathy DeWitt Dunn to discuss life insurance and how it has evolved into what it is today. Read More