Wednesdays are all about personal finance here at Abnormal Returns. You can check out last week’s links including a look at the big difference between getting rich and staying rich.

Quote of the Day

"With all the negatives, why do investors seem to love this product [indexed annuities], buying tens of billions year after year? The reason is simple. The insurance industry frames the investment decision in a manner that gets investors to focus on the potential for large gains, the principal protection, and the guaranteed minimum return provided by annuities."

(Larry Swedroe)

Chart of the Day

The wealthiest Americans, think 1%, powered through the pandemic.