As a Certified Financial Planner™ practitioner, the words "8% and guaranteed" would generally never be spoken in the same sentence.
I have heard ads in the past touting these types of high returns. However, upon further investigation, there were many pitfalls and caveats attached or just plain wasn't true.
One of the hardest things to do as an investor is to think logically, without emotion. The human mind will process facts but it is difficult to make decisions when there are conflicting opinions. This can give rise to confusion or even anxiety. In order to deal with this situation, another part of the mind intervenes—the emotional side.
Most of you have probably not heard the term "Financial Toxicity". It's a term used to describe the financial issues one can face related to medical care. However, it goes further as there are many costs associated with treatment such as meals out, parking, and even housing costs while away getting treatment.
With the new tax law, the standard deduction is basically doubling. This means that many taxpayers will lose the ability to deduct their charitable contributions.
Should you stop giving? No!
There are several ways to keep giving and also receive a tax deduction. But you’ll have to plan more carefully.