Quote:
Originally Posted by LuvtheVillages
From the on-line publication Investment News:
"In its bankruptcy filings, GWG Holdings reported $3.5 billion of total assets and almost $2.1 billion in total debt. While its assets reportedly outweigh its debt, GWG Holdings’ big hurdle is that many of those assets are illiquid, hard-to-value pools of life settlements, or unwanted insurance policies that consumers sell to investors like GWG Holdings, which can come with risks.
Leading up to the start of this year, GWG Holdings, a publicly traded company with the ticker GWGH, had struggled to file its audited quarterly and annual financial statements on time."
So it looks like there won't be much cash available until the people who sold their life insurance policies die.
From the same source:
"... the company’s collapse, including GWG’s defaulting on $13.6 million in payments in January to bondholders."
So they can't even make their interest payments!
Do your own research. Don't rely on what Whitaker sends you.
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Do your own research on EVERYTHING, from a new floor to investing your money. Before retirement, many of our friends would urge us to go with them to a free lunch or dinner. We did attend a couple out of curiosity, but (of course) so much presented was like the old "putting lipstick on a pig", won't go into it all, most has been posted here. Decided long ago that NO ONE, not one single person no matter what they tell you, fiduciary, CFP, NO ONE cares as much about YOUR money as YOU DO. They may "care", of course, but let that sink in, no one cares as much as YOU DO about YOUR money or your welfare. That advice should always be in your mind, rather buying a golf cart, an automobile, or new windows, listen to it all, but just keep remembering the person talking is not MORE interested in your welfare that you are. When you find a person who says, "no, you don't need an whole new AC unit at all, who told you that ? Actually you just need a relatively inexpensive new --------- (fill in the blank), then you can BEGIN to trust that person...LOL ! A LOT of free lunches in the villages... it must be paying off for someone ? Mom always said, there is no "free" lunch..LOL !